Bronzewing South Drilling Yields 15.5g/t Gold Intercept; Mount Isa Copper-Gold Targets Expand

Encouraging Gold Discoveries at Yandal

Hammer Metals Limited (ASX, HMX) has delivered a strong exploration update for the September 2025 quarter, highlighting significant progress at its Yandal Gold Project in Western Australia. Drilling at the Bronzewing South tenement, adjacent to Northern Star Resources’ prolific Bronzewing gold mine, intersected multiple zones of gold mineralisation, including a standout intercept of 15.5 grams per tonne gold over 0.48 metres within a broader 8.95 metres at 1.32 grams per tonne. These results confirm continuity of high-grade mineralisation previously identified on the neighbouring mining lease and open a substantial new search corridor approximately 1.7 kilometres long.

The discovery of extensive quartz carbonate veining, alteration, and brecciation along this corridor signals a fertile structural setting for further gold mineralisation. Hammer is planning an extensive follow-up reverse circulation drilling program to test these targets in greater detail during the coming months.

Mount Isa Projects Yield New Copper-Gold Targets

In Queensland, Hammer’s Mount Isa Copper-Gold Projects have also advanced with the definition of new gold targets along key structural corridors, notably at Tick Hill. A comprehensive geochemical and structural review has identified multiple drill-ready targets, including significant copper-gold anomalies at the Sisters and Green Creek prospects. Rock chip sampling at Green Creek’s Blonsky prospect returned assays as high as 3.9 grams per tonne gold and 4.54% copper, reviving interest in an area that has seen little exploration since the late 1990s.

Soil sampling at Sisters confirmed two coherent copper-gold anomalies extending over strike lengths of 1.2 to 2 kilometres, with further geophysical surveys planned to refine drill targets. These emerging targets complement Hammer’s existing JORC-compliant resources in the region and underscore the company’s strategy to discover Ernest Henry-style deposits.

Joint Ventures Fully Fund Exploration Drilling

Hammer’s joint venture partnerships continue to underpin its exploration momentum. The Bullrush JV with Sumitomo Metal Mining Oceania is poised to commence a follow-up drilling program imminently, building on earlier geophysical surveys and drilling. Meanwhile, South32’s fully funded drilling campaign at the Isa Valley JV is scheduled to start in November, targeting a prospective soil and VTEM anomaly.

These collaborations allow Hammer to leverage external funding and expertise, accelerating exploration across its extensive Mount Isa tenure without diluting its cash reserves.

Financial Position and Outlook

At quarter-end, Hammer Metals held a cash balance of $2.8 million alongside liquid investments valued at approximately A$1.1 million. The company incurred $1.42 million in exploration and evaluation expenditure during the quarter, primarily focused on its Mount Isa and Yandal projects. Importantly, joint venture partners fully funded their respective exploration activities, preserving Hammer’s financial flexibility.

Looking ahead, the company anticipates a steady news flow with upcoming assay results from Bronzewing South, soil sampling outcomes from Ken’s Bore, and the commencement of drilling programs at Bullrush and Isa Valley. These developments position Hammer Metals to potentially expand its resource base and enhance shareholder value.