en.Wedoany.com Reported - Australia's Larvotto Resources announced on June 12 that it has acquired 100% of Hammer Metals through an all-share transaction, aiming to expand its copper resource footprint in the Mt Isa region of Queensland.

Hammer Metals holds approximately 3,600 square kilometers of tenements in the Mt Isa region, with core assets including the Kalman project and satellite deposits such as Overlander, Jubilee, and Lakeview. These assets collectively contain 530,000 tonnes of copper equivalent resources under JORC standards, which can create synergies with Larvotto Resources' existing Mt Isa copper project. Larvotto previously held approximately 900 square kilometers of tenements in the same area and has an option to acquire the Blockade copper mine. Upon completion of the transaction, the company's total tenement area in the Mt Isa region will expand to approximately 4,500 square kilometers, forming a regional-scale copper resource platform.

Larvotto Resources is advancing the Hillgrove gold-antimony project in New South Wales, which is expected to commence production in August this year. The company stated that future cash flows from this project, along with a A$15 million equity investment from Glencore, will provide funding for resource expansion, regional exploration, and development studies of the Mt Isa copper assets, accelerating the progress of its copper business.

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