$3.5m raise sets Hawkstone up for multi-pronged exploration push
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Special Report: The “strongly supported” placement will be used to advance Hawkstone Mining’s (ASX:HWK) gold, copper and lithium assets into 2021.
Hawkstone will use this cash injection to continue exploration at the high grade Lone Pine gold project in Idaho, where results from the remaining four holes are expected to be released in two weeks.
Follow up drilling is also funded for 2021.
Hawkstone is now funded to continue targeting and refinement at all three gold projects leading into follow up drilling in the first half of 2021, managing director Paul Lloyd says.
“With assay results pending from Lone Pine and gold exploration projects in well-endowed gold producing regions, it is an exciting time for all Hawkstone stakeholders,” he says.
The company also plans to progress the Big Sandy lithium project in Arizona, including all-important metallurgical studies.
In late September Tesla became the first automaker, but probably not the last, to vertically integrate into lithium conversion and production.
This plant will source its spodumene feedstock from advanced explorer Piedmont – a deal announcement which sent that stock through the proverbial roof.
Tesla is expected to source from other US-based concentrate suppliers, says Benchmark Mineral Intelligence.
The shallow, easy-to-mine Sandy deposit — an 11km-long, sedimentary-hosted lithium horizon which runs from surface to a depth of ~90m— is strategically located along the so-called US Battery Corridor.
This article was developed in collaboration with Hawkstone Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.