- Olympus potentially hosts a new scandium province.
- Exploration program expected to commence in Q3.
- Cultural heritage survey underway.
- Consent from WA Minister for Mines sought ahead of program approval.
Hawk Resources (ASX:HWK) has received a key approval in the lead-up to commencing drilling in the large Olympus scandium project area in WA, successfully executing an agreement for mineral exploration in Ngaanyatjarra lands, which will allow it to undertake the cultural heritage survey at Olympus.
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The survey will take place over three days and provide traditional owner clearance for Hawk’s proposed exploration program, including proposed drilling. Planned activities include soil and rock sampling, geophysical surveying, and augur and air core drilling, the explorer confirmed today.
Hawk’s programme will entail initial verification soil sampling within a four-kilometre by seven-kilometre 500 parts per million scandium soil anomaly priority area. If the verification results prove positive, follow-up exploration will include detailed soil sampling to delineate priority targets and then initial drilling.
In addition to the survey, Hawk has sought the consent from the Western Australia state government Ministers for Mines and Aboriginal Affairs.
The Minister for Mines’ consent is required ahead of submitting a Program of Work, while the Minister for Aboriginal Affairs consents to the issue of a Mining Entry Permit following a recommendation by the Aboriginal Lands Trust.
It is anticipated that the survey clearance will be obtained this month, pending ministerial consents. It is expected that on-ground exploration will commence in Q3 CY26.
MD, Scott Caithness, said Hawk has already engaged with a service company to carry out the initial verification sampling. “Completing the cultural heritage survey following the agreement for mineral exploration marks the final traditional owner approval milestone ahead of the commencement of exploration at Olympus.”
He continued: “Once completed, this approval process will have taken only four months from Hawk’s first engagement with the Ngaanyatjarra Council. The final steps ahead of getting exploration underway are the approvals of the Ministers for Mines and Aboriginal Affairs, which Hawk has been pursuing in parallel with the Survey clearance. These are expected early in Q3, CY26.”
Hawk announced the acquisition of an option to earn up to 80% of the Olympus scandium project in October 2025. The project consists of two exploration licences, E69/3987 and E69/3988, which cover ~309 sq km.
Hawk is confident Olympus has potential for the discovery of a major new scandium province. It was previously explored for copper, nickel, cobalt, platinum group elements and gold between 2001 and 2009. A review of pXRF analyses of soil, lag and RAB samples has identified the significant soil anomaly with grades up to 1,284ppm and peak RAB assays of 2,164ppm over 1m sample intervals.
HWK is up +3.85%, to 2.7¢. Mkt cap $16.23M.
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