Hawkstone Mining: 950% increase in landholding in USA

Hawkstone Mining Limited (ASX:HWK) (“Hawkstone”, the “Company”) is pleased to provide an update on exploration completed on the Western Desert Gold-Copper Project since the Company acquired the Project on 16 March 2020. Based on exciting results from recent exploration, the Company has increased its landholding in the area by 950%, expanding the total tenement package to 25.41km2, at the Western Desert Gold-Copper Project, located in Western Utah, USA.

• Following exciting results from recent exploration, Hawkstone has increased its landholding by 950%, at the Western Desert Gold-Copper Project, located in Western Utah, USA.  
• Rock chip sampling of outcropping mineralisation and old workings over the Project area has returned high grade results of: 
  • Gold (Au) to 6.92 g/t 
  • Copper (Cu) to 5.09%  
  • Silver (Ag) to 1,495 g/t  
  • Lead (Pb) to >20% 
• These claims have been acquired at minimal cost and are the result of our teams geological targeting and ground follow-up.  
• The Project lies within a similar geological setting to “Carlin type” mineralisation of the prolific Carlin Gold Belt (Nevada, USA), with production of 200 million ounces of gold, and 50 km east of the Newmont owned, Long Canyon Mine with resources of 4.5 million ounces of gold1.  
• Photogeological mapping identified 11 targets within the Project, with Targets A1 and A3 exhibiting features similar to Carlin type gold mineralisation, and are considered high priority for exploration by the Company.  
• Stream sediment sampling has identified anomalous gold and Carlin type pathfinder elements forming 4 broad zones coincident with the mapped targets.  
• These targets will now be the focus of further exploration, including the use of geophysical methods to define the source of the anomalism and enable the definition of drill targets.

Hawkstone Mining Managing Director, Paul Lloyd, commented: “The Western Desert Gold-Copper Project is living up to initial expectations by demonstrating its significant potential to host “Carlin type” gold mineralisation. From the initial targeting and acquisition of the Project, the work to date has defined exciting targets that we will progress in a logical and timely manner. With the known mineralisation and ideal structural setting, Target A1 is high priority target for Hawkstone, and we see the Project as holding excellent potential in an under explored geological terrain, that hosts some of the world’s largest gold deposits.”

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