Metal Hawk has mustered up a flock of high-grade gold strikes from its maiden RC drill campaign at its Kanowna East project just 8 kilometres from Northern Star’s 5 million ounce-plus Kanowna Belle gold mine. Amongst the assay results revealed were a 4 metre section grading a formidable 17.8 grams per tonne gold from 75m including a 1m parcel going a stellar 42.7g/t gold from 76m downhole.
The news sparked a flurry of early on-market buying driving Metal Hawk’s share price to a morning intraday peak of $0.40 in heavy trading from a previous closing price of $0.305
The drill program included a total of 12 RC holes being sunk into the ground at the Kanowna East project for a total of 1,325m targeting the Little Lake and Western Tiger prospects. The RC drilling was designed to test the bedrock potential of several broad gold anomalies intersected at both Little Lake and Western Tiger in Metal Hawk’s recent AC drill programs.
Six RC holes were drilled for a total of 602m at the Little Lake prospect which included the 4m hit going 17.8g/t. Other hits notable for the maiden program include 1m grading 2.9g/t from 66m and a 5m hit running at 0.52g/t from 100m downhole.
Five RC holes were hammered into the ground at the Western Tiger prospect, also in the Kanowna East project area, following up high grade AC results that included an 8m section grading a juicy 4.5g/t gold from 75m downhole.
Notable RC results from the Western Tiger prospect include a 2m hit grading 1.45g/t gold from 73m downhole, a 5m hit going 1.59g/t from 80m, a 5m hit going 1.95g/t gold from 70m and a 5m hit grading 1.09g/t gold from 69m downhole.
Plans are now underway for a second stage of RC drilling to follow up on the new gold intercepts at Little Lake and Western Tiger with the company seeking to further explore the poorly tested Archean bedrock for gold mineralisation.
Metal Hawk’s earn-in partner, Western Area, which has 75 per cent of the nickel rights at Kanowna East, Emu Lake and Fraser South has kicked off its exploration efforts with a 4,000m RC drill campaign at Kanowna East. Western Area needs to spend $7m on the tenure over five years to lock in the 75 per cent nickel rights ownership deal and will provide all gold assay data to MetalHawk in return.
Metal Hawk Managing Director, Will Belbin said: “Our first RC drilling program at Kanowna East has further highlighted the potential of this gold project. Following the Company’s nickel sulphide discovery at Berehaven and the successful capital raising in October, the Company is very well positioned to continue delivering exploration success across its highly prospective gold and nickel projects.”
It is no surprise Metal Hawk has snagged some high-grade in its maiden RC drill program given its proximity to several well-endowed gold mines. Metal Hawk will no doubt be raring to get the drill rods spinning again at Kanowna East to scope out just how big the prize may be.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
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