14.10.2016
Deutsche Rohstoff AG DE000A0XYG76
DGAP-News: Deutsche Rohstoff AG:
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG:
14.10.2016 / 08:45
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Hammer Metals releases results from Millennium and
Scalper drilling campaigns
New resource estimate for Kalman with higher grades
Mannheim/Perth. Hammer Metals, 17.84 % owned by Deutsche Rohstoff,
announced further results of its completed drilling campaigns on their
"Millennium" and "Scalper" tenements. The company also announced a new
resource estimate for its 100% owned "Kalman" deposit.
Since the acquisition of the "Millennium" tenements near the town of
Cloncurry in May this year Hammer has drilled 25 exploration holes,
totalling 3,857 m. The company has now received all assay results,
containing some significant intersects, such as 4 m at 0.51% Co in drill
hole MIRC013 and 8 m at 0.35% Co in drill hole MIRC023. Further,
exploration hole MIRC019 identified a 10 m high-grade silver-lead zone with
average silver grades of 40g/t, including one meter at 337g/t Ag.
The "Millennium" work programme for the upcoming months contains a JORC-
compliant resource estimate as well as further examinations around the
identified silver anomaly. Further, recently conducted mapping has
identified additional resource potential in the northern and eastern part
of the tenement, which will be subject to further examination.
Straight after the completion of the "Millennium" drill programme, Hammer
continued its drilling activities at the "Scalper" tenements which as now
been concluded with a total of 5 holes (506 m). The aim of the programme
was to test a combined gravity and magnetic anomaly, which exhibited
alteration consistent with IOCG mineralization. The major intersections
encountered include an 8 m section at 0.95% Cu and a 12 m section grading
1.2% Cu. A final conclusion about the prospectivity of the anomaly cannot
be drawn yet since the drilling campaign has not yet tested the geophysical
anomaly or the extents of the outcropping mineralized zones to the north.
It is anticipated that this area will be investigated further in 2017.
Currently, drilling activities are carried out at the "Overlander"
tenement, which is part of a Joint Venture with Newmont Mining Corp. Their
completion is anticipated for end of November.
Hammer also recently announced a renewed JORC resource for its wholly owned
copper-gold-molybdenum-rhenium project "Kalman". The new estimate includes
8 additional holes, which the company had drilled in 2014. The reported
total resource contains 20 Mt at 1.8% CuEq. (copper equivalent) in
"indicated" and "inferred" category of which 13.3 Mt can potentially mined
by open pit methods. Nearly half of that portion (6.2Mt) is reported in the
category "indicated".
In comparison to the previous resource estimate published in 2014 (30Mt at
1.3% CuEq. in the "inferred" category) this represents a decrease in both,
tonnage and contained metal content. However, this decrease is solely
driven by significant lift in the applied cutoff grade for both, open pit
resource (from 0.3% CuEq. to 0.75% CuEq.) and underground resource (from
1.0% CuEq. to 1.3% CuEq.).
Since the "Kalman" deposit is open in lateral direction as well as at
depth, Hammer Metals plans to significantly expand its resource through
further drilling activities.
Jörg Reichert, CTO of Deutsche Rohstoff, comments: "Even though the results
received from the "Millennium" drilling campaign have not completely met
our targets, particularly regarding the cobalt grades, we are very happy
about the fact that the encountered mineralization is continuous, allowing
for a resource estimate to be carried out. Overall, the results are solid
and we are looking forward to further exploration activities in the
northern part of the tenement.
The results from "Scalper" are encouraging. The drill holes were placed on
the basis of geophysical measurements that indicated an elevated potential
for mineralization. The obtained results seem to prove this, however
further drilling will be needed to fully test the anomaly.
The ongoing efforts that went into the "Kalman" project have paid off in
two ways. On the one hand, Hammer Metals was able to produce an
economically much more robust resource estimate that honours the current
market conditions. On the other hand the inclusion of all available drill
hole data as well as a thorough review of the geological model confirmed
the resource extension potential along strike as well as at depth. I am
very optimistic in that regard."
Further information can be found at http://www.hammermetals.com.au.
(Copper equivalent calculation:
CuEq % = Cu % + (Co % x 5.9) + (Au ppm x 0.9) + (Ag ppm x 0.01) +
(Mo % x 4.741) + (Re ppm x
0.065))
Mannheim, 14 October 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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14.10.2016 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.
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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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