New JORC estimate confirms 1,77 million tons of ore with 1,2% copper content
Heidelberg. Australian Hammer Metals Limited ("HMX"), whose largest shareholder is Deutsche Rohstoff, has announced a new JORC-compliant (2012 Edition) resource estimate for the Overlander sub-sector.
The present estimate shows that the sum of the inferred and indicated resources for the entire Overlander area is an ore quantity of 1,77 million tonnes at a copper content of 1,2%. Of this, about 1,1 million tons with a copper content of 1,3% come from a new estimate for Overlander North. Together with the 2014 estimate for "Overlander South", this results in an increase of 53%. The cut-off grade for all calculations is uniform 0,7% Cu.
The resource update was based on new data obtained during the most recent drill campaign by June 2015. The occurrence is open to the Teufe, as well as laterally and thus has a very good potential for a further resource increase.
Alex Hewlett, CEO of Hammer Metals, commented: "Our work once again confirms the high prospectivity of Hammers Overlander project and the Mount Isa region as a whole. With a few holes we were able to increase the resource significantly. We are now planning further drilling in the adjacent Overlander Rhyolite and IOCG areas.
Jörg Reichert, CEO of Deutsche Rohstoff, added: "Hammer Metals results for" Overlander "are extremely positive. It confirms another significant exploration potential. The current weakness of the copper market is rather minor given the project horizon. We seize the opportunity of falling costs for acquisition, exploration and development of commodity projects as we expect a long-term recovery in commodity markets. "
A detailed version of the communications can be found at www.hammermetals.com.au.
Heidelberg, 26. August 2015
Deutsche Rohstoff identifies, develops and sells attractive natural resources in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold, copper, rare earths, tungsten and tin complete the portfolio. Further information at www.rohstoff.de
