5 June 2026 | Queensland - Hammer Metals has announced that South32 has elected to proceed with Stage 3 of the Isa Valley Earn-In Agreement, committing to a further A$3 million in exploration expenditure over three years.
The Isa Valley Project is located in north-west Queensland and covers sections of the Mount Isa Fault. Hammer said South32’s decision to move into Stage 3 follows positive results from the initial stages of the earn-in program.
Under the Stage 3 terms, South32 must fund A$3 million of exploration expenditure to earn a 70% interest in the tenement and joint venture. South32 may extend the Stage 3 period by a further 12 months, increasing the expenditure commitment to A$4 million.