13.09.2016
Deutsche Rohstoff AG DE000A0XYG76
DGAP-News: Deutsche Rohstoff AG: Hammer Metals releases first drilling results from Millennium area
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Hammer Metals releases first drilling results from
Millennium area
13.09.2016 / 18:03
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Hammer Metals releases first drilling results from
Millennium area
Cobalt and copper identified in numerous drill holes / Convertible note
fully carried out
Heidelberg/Perth. Hammer Metals, 17.84 % owned by Deutsche Rohstoff,
announced the first results of the current exploration campaign at the
Millennium area today. Over the past months a total of 25 holes were
drilled. The geochemical analyses have now been completed for 18 holes. As
an example, significant mineralization was observed over 4 meters at 0.51 %
cobalt and 0.46 % copper intersected in drill core MIRC013 or 12 meters at
0.19% cobalt and 0.57 % copper intersected in drillhole MIRC014.
The Millennium area, which is located near the city Cloncurry, was acquired
in May and was already explored by 13 historic drillings. Hammer intends to
use its own drilling results from the 25 drill holes together with the
historic information in order to create a 3D model and plans to prepare a
JORC conform Mineral Resource estimation.
In addition to the existing drillings, which only cover the southern part
of the Millennium area, Hammer is confident to identify additional
prospective areas in the northern part. Even though no drillings have been
performed in this area yet, surface sampling shows a strong cobalt and
copper anomaly. This area will be addressed in a future drilling campaign.
The drilling rig, which currently operates at 'Scalper' will shortly move
to 'Overlander' to conduct a three hole, 1.500 m drilling program. This
area is explored for an IOCG-type deposit (Iron Oxide Copper Gold) as part
of a JV with Newmont. Drilling at 'Overlander' is expected to take
approximately seven weeks to complete.
A detailed version of the announcement can be found at http://
www.hammermetals.com.au.
In addition, Deutsche Rohstoff announced the conversion of its convertible
note in Hammer Metals in the amount of AUD 650,000 at a conversion price of
AUD 0.06. Thus, although Deutsche Rohstoff has not participated in the most
recent placements, the portion of its stake in Hammer Metals has increased
from 15.50 % to 17.84 %. Therefore, Deutsche Rohstoff remains the major
shareholder of Hammer.
Heidelberg, 13. September 2016
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
[email protected]
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13.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
N1, 1 (Stadthaus), 3. Etage
68161 Mannheim
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: [email protected]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart, Tradegate Exchange; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News Service
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