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Hawk Resources (ASX:HWK) is drilling ahead towards its main Cactus copper-gold target in Utah, USA. The company is also testing the Wasp target in this campaign.
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The explorer’s managing director, Scott Caithness, revealed visible copper mineralisation was intersected down Wasp and Cactus drill holes, with assays awaited.
“Initial indications are that the drill holes into the Cactus and Wasp targets have intersected copper mineralisation however not in economic quantities,” Mr Caitthness said.
“The pXRF analyses currently being carried out on the drill core aim to confirm the presence of copper, while the multi-element lab analyses will provide definitive copper and gold grades plus highlight potential pathfinders which may be useful vectors to the source of the copper mineralisation.”
Cactus is a previously untested northeast extension of a low resistivity zone associated with the Cactus deep lens within the historical Cactus copper-gold mine.
Drilling is also underway at the Copperopolis target to test a large chargeability geophysical anomaly supported by anomalous soils assaying up to 1,000 parts per million (ppm) copper and a historical hole marginal to the anomaly, which intersected 30m at 0.2% copper.
Further drilling in this program includes CZ-1, New Years West, N-1 and near-surface mineralisation along the Comet-Cactus-New Years zone.
At the same time, the explorer’s progressing Native Title Agreement (NTA) discussions at its Olympus scandium project in Western Australia.
“It is encouraging that at the Olympus scandium project in Western Australia, discussions on a Native Title Agreement with the Ngaanyatjarra Council are progressing,” Mr Caitthness told Hawk shareholders today.
He added: “The council has commenced consultations with the native title holders, and an outcome from these discussions is expected in March. This will provide Hawk with an early indication of whether protected areas are within the licences and an important guide in the NTA discussions.”
HWK was last down -4.65%, to 4.1c.
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