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Metal Hawk Limited (ASX: MHK, “Metal Hawk” or the “Company”) is pleased to report on its quarterly activities for the period ending 30 September 2024.
HIGHLIGHTS
EXPLORATION ACTIVITIES
LEINSTER SOUTH PROJECT
- Maiden field campaign at Leinster South returns numerous high grade gold assays from rock chips (up to 20.2g/t Au) at the new Siberian Tiger prospect. There is no previous drilling at Siberian Tiger.
- UAV (drone) magnetic survey, detailed orthophotography and LiDAR survey completed over Siberian Tiger and the majority of tenement E36/1068.
- Geological mapping and geochemical sampling expand the gold mineralisation footprint at Siberian Tiger and continue to generate new regional gold prospects.
- Additional tenement applications increase Metal Hawk’s landholding to over 430km2.
- Heritage Agreement executed, approvals progressing towards maiden RC program.
BEREHAVEN PROJECT
- Gold assays returned from RC drilling completed in June 2024 at the Commodore North gold zone.
- Significant results include:
- 6m @ 1.58g/t Au from 40m (BVNC066)
- 2m @ 2.51g/t Au from 105m (BVNC067)
- 3m @ 1.41g/t Au from 92m (BVNC069)
CORPORATE
- End of quarter cash position of $1.7 million.
- The Company is looking at divesting a number of non-core assets and tenements.
Managing Director Will Belbin commented: “The early exploration success at Siberian Tiger puts Metal Hawk in an excellent position heading into the December quarter and beyond. At Leinster South we have a big package of ground surrounded by world class gold deposits and it is quite incredible that there has been virtually no historical gold exploration at Siberian Tiger. We are very excited to push towards a maiden drilling program as soon as possible.”
Figure 1. Metal Hawk’s main goldfields project locations
DECEMBER QUARTER 2024 – PLANNED ACTIVITY
The Company will be focusing the majority of exploration efforts towards the maiden drill program at the Leinster South project, with planned activities in the lead-up including:
- Geochemical sampling (rock chips and soils).
- Detailed structural mapping and interpretation.
- Targeting and preparations for drilling.
- Processing and interpretation of detailed geophysical data, aerial photography/imagery and LiDAR data.
- Scheduled heritage clearance surveys.
COMPANY PROJECTS – WESTERN AUSTRALIA
LEINSTER SOUTH PROJECT
The Leinster South project area covers more than 430km2 and is situated between 10km and 40km south of Leinster. Limited historical exploration has been conducted on the tenements.
Field reconnaissance mapping and rock chip sampling commenced in late June 2024. The majority of work focused on tenement E36/1068, which is located along the southeastern limb of the Agnew Greenstone Belt and only 15km from the Lawlers mining centre. The initial field trip included follow-up of a highly anomalous geochemical gold anomaly (482ppb Au) from historical wide-spaced soil sampling at the northern portion of this tenement.
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This article includes content from Metal Hawk Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
MHK:AU
Metal Hawk Limited
Investor Insight
Metal Hawk has a solid strategy to increase shareholder value through early-stage exploration success, leveraging a strong gold market and driven by a highly experienced team with a track record of successful discoveries.
Overview
Metal Hawk Limited (ASX:MHK) is an Australian exploration company with a primary focus on gold and nickel discoveries. The company is driven by a technically proficient team with a proven track record of identifying high-potential mineral exploration projects and executing early-stage discoveries.
Founded with a strong commitment to disciplined exploration, Metal Hawk’s portfolio is primarily concentrated in the prolific Eastern Goldfields of Western Australia. The company’s exploration strategy combines traditional geological methods with innovative technologies to unlock the full potential of its tenements.
The main focus of Metal Hawk’s current exploration activities is its Leinster South project, which has shown significant promise following the discovery of high-grade gold at the Siberian Tiger prospect. Metal Hawk is advancing towards securing the necessary permits for further exploration and a maiden drilling program at Leinster South. Metal Hawk is finalising heritage negotiations and intends to undertake a heritage clearance survey as soon as possible, which will allow for the commencement of a maiden reverse circulation (RC) drilling program at Siberian Tiger. This drilling campaign will test the depth extent and continuity of the high-grade gold mineralization identified at surface.
The company also maintains a diversified exploration portfolio with other projects such as Berehaven, Yarmany and Kanowna East, all of which hold strong potential for gold and nickel mineralisation.
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Gold-focused exploration in Western Australia’s prolific Eastern Goldfields region
High-Grade Gold Confirmed at Bronzewing South
- Partial results received from the diamond tail of drill-hole BWSRC081 with the visible gold zone returning 15.5g/t Au over 0.48m from 416.5m. This high- grade zone is reported within a broader intercept of:
- 8.95m at 1.32g/t Au from 414m, including:
- 0.48m at 15.5g/t Au from 416.5m; and
- 0.55m at 3.52g/t Au from 422.4m.
- 8.95m at 1.32g/t Au from 414m, including:
- Follow-up drilling along strike from these intercepts is scheduled to commence in the coming days to define the extent of the south-trending zone of gold mineralisation with a diamond tail of drill-hole BWSRCD086.
- Drill results indicate the inadequacy of historical air-core drill testing with a significant search space now open on the boundary with the historical Bronzewing Mining Lease.
- Diamond drilling at the Central Target, located ~1.7km to the south of the Eastern Target and within the same structural corridor, has encountered zones of intense locally massive quartz veining associated with brecciation below historical Hammer gold drilling anomalies of:
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- 8m at 2.4g/t Au from 120m; and
- 4m at 3.9g/t Au from 120m.1
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- Assay results from the remaining program will be progressively released in the coming weeks.
Figure 1. Photo of massive quartz carbonate veining intersected in drill-hole BWSRCD082 diamond tail at Hammer’s Central Target Zone (213m to 221.5m).
Hammer’s Managing Director, Daniel Thomas, said:
“The confirmation of high-grade gold mineralisation at Bronzewing South is a significant step in our search for an economically viable gold target at our Yandal Gold Project. High-grade mineralisation can be traced with multiple intercepts to the north of our project area, with the mineralised structure interpreted to extend for hundreds of metres.
“We will now look to test this structure approximately 100m further south on our project area. We are very much looking forward to follow-up drilling at the Eastern Target, as we enter a zone without any previous drilling coverage.
“The team is encouraged by the observations in recent drilling at the Central Target and the potential for this corridor to be connected to the Eastern Target drilling some 1.7km to the north. This corridor is largely untested below the ineffectual air-core drilling and, with a prominent shear zone interpreted to connect these targets, it is of high interest to the team in our search for a significant gold discovery.”
Figure 2. Plan view of the Bronzewing South tenement EPM36/854, showing Bronzewing orebodies on Northern Star Resources mining lease, historical Hammer RC drilling intercepts and the structural corridor of interest containing Hammer’s Central and Eastern Target Zones (refer to ASX announcement 9 November 2020).
Click here for the full ASX Release
This article includes content from Hammer Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
