Battery metals: US lithium play Hawkstone says Big Sandy just keeps getting bigger
Link copied to
Right now, US-based lithium explorer Hawkstone Mining (ASX:HWK) is slipping under the radar with a market cap of about $14.5m.
But a confluence of factors could soon change that.
Firstly, the explorer’s Big Sandy and Lordsburg projects are located in the so-called US Battery Corridor, which includes Tesla’s lithium-ion battery Gigafactory near Reno, Nevada:
Secondly, the US Government is making moves to establish its own EV supply chain, from raw materials through to EV production.
But it’s going to need some in-country lithium mines; right now, the US only produces a nominal amount and exports all of it.
And last (but not least) Hawkstone’s 25.2sqkm Big Sandy project is shaping up as a bit of a monster. The project’s 11km-long, clay-hosted lithium horizon is defined by simple geology and lithium mineralisation from surface to a depth of 90m, the company says.
An ongoing 37-hole, 3700m diamond drill program kicked off mid-February to test the extent of clay hosted lithium mineralisation in the 3000m x 1000m Northern Mineralised Zone, first identified last year.
So far, results have successfully outlined extensions to the primary lithium mineralisation up to 800m north, with mineralisation remaining open to the north, south and west.
The latest set of results includes thick high-grade intercepts like 20m grading 2131ppm lithium, 47m from surface.
Assay results are pending from a further eight completed diamond drill holes, the company says, and the final three holes of the program are yet to be drilled.
Hawkstone managing director Paul Lloyd says the company is building momentum towards a maiden JORC compliant resource.
“The assay results from these latest 7 diamond drill holes demonstrate the significant potential of the Big Sandy project and we look forward to updating the market further regarding assay results pending from the next 8 diamond drill holes as they become available,” he says.