- U.S. gold explorer Hawkstone Mining (HWK) has increased its landholding at its Lone Pine Project in Idaho by 233 per cent
- The increase follows positive high-grade gold results, with sampling of up to 92.7g/t of gold confirming the potential for multiple mineralised zones
- These initial results confirm Hawstone’s belief that the area is prospective for multiple mineralised zones
- So far, the company has received 70 per cent of the samples collected, while the remaining assays are expected in the coming weeks
- Following the news, Hawkstone shares have risen 6.67 per cent to trade for 1.6 cents per share
U.S. gold explorer Hawkstone Mining (HWK) has increased its landholding at its Lone Pine Project in Idaho by 233 per cent.
Following the return of high-grade gold results, which confirm the potential for multiple mineralised zones, the company increased its landholding to consolidate its position in the Lone Pine area.
These initial results confirm Hawstone’s belief that the area is prospective for multiple mineralised zones.
The landholding has gone from 75 to 250 claims, covering 20 square kilometres.
Reconnaissance exploration
91 rock samples were collected by Hawkstone as part of its initial exploration program and dispatched to ALS Laboratories for multi-element analysis.
So far, the company has received 70 per cent of the samples collected, while the remaining assays are expected in the coming weeks.
Reconnaissance work is ongoing at the project with additional samples to be dispatched to the laboratory soon.
“These initial reconnaissance results confirm our interpretation that the Lone Pine Area hosts multiple mineralised zones, and is potentially part of a much larger gold-bearing structure,” Managing Director Paul Lloyd said.
“Hawkstone’s prospecting work, which is ongoing, has located a number of areas with high-grade assay results, which the company will follow up as a priority,” he added.
King Solomon
As part of the first phase of exploration at the recently purchase King Solomon Project, 33 rock samples were collected.
High grade gold results, including 92.7 g/t of gold and 69.5g/t of gold, were recorded.
“Mapping and sampling within the recently acquired King Solomon Project has returned results to 92.70 g/t gold and Hawkstone is in the process of submitting permits for initial drilling to test these and other areas,” Paul explained
“Hawkstone’s drilling continues with the aim of further defining and extending the exciting drill intercepts returned to date at the Lone Pine Vein system within the patented claims,” he added.
Following the news, Hawkstone shares have risen 6.67 per cent to trade for 1.6 cents per share at 10:38 am AEST.