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- Ballot wins secure two additional exploration licences
- Expanded tenure consolidates Metal Hawk’s position in gold corridor
- Project now comprises four tenement applications
- Mt Percy complements Metal Hawk’s advanced Leinster South project
Metal Hawk (ASX:MHK) has won two contested ballots for exploration licences at its Mt Percy gold project located southeast of Leonora in Western Australia.
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The project now comprises four tenement applications covering more than 289 sq. km of prospective ground along the Keith-Kilkenny Shear Zone (KKSZ), a major crustal-scale structure associated with several significant gold deposits in the northeast Goldfields region.
“This ballot victory at Mt Percy is a major win for Metal Hawk shareholders. The additional tenure cements our position along the Keith-Kilkenny Shear Zone (KKSZ) and strengthens our pipeline of exploration targets across the northeast goldfields. We look forward to advancing the Mt Percy Gold project and unlocking the exploration potential of this highly prospective ground,” MD, Will Belbin, said.
“The expanded Mt Percy project area provides Metal Hawk with an exciting new pillar of exploration in the northeast goldfields, complementing the company’s advanced Leinster South project located in the Agnew-Lawlers region, approximately 150 km to the northwest.”
According to Mr Belbin, the KKSZ is one of the most significant structural features in the northeast Goldfields of WA.
The zone hosts, or is spatially associated with, a number of multi-million-ounce gold deposits, including Northern Star Resources’ Porphyry mine, located 30 km to the south, and Saturn Metals’ 2.8 million ounce Apollo Hill gold project, which is located about 30 km to the northwest of the Mt Percy tenement applications.
Gold mineralisation associated with the KKSZ occurs in a range of settings, including structurally controlled shear-hosted deposits in mafic rocks and high-grade gold associated with intrusive contacts.
Metal Hawk is currently conducting comprehensive reviews of the expanded acreage from historic open file geochemical and geophysical datasets.
Meanwhile, the company is preparing for the next round of RC drilling at Leinster South which is due to commence imminently.
MHK was steady at 4.4¢. Mkt cap $5.429M before markets opened.
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