Special Report: Hawkstone Mining (ASX:HWK) has just finalised the acquisition of Lone Pine, a historic high-grade gold project in the ‘mining friendly’ US state of Idaho.

Lone Pine, last mined back in 1907, comes with a non-compliant JORC resource estimate of 71,178oz grading over 18 grams per tonne (g/t) based on historical work done in 1935.

Subsequent studies consider this initial estimate to be conservative, Hawkstone says.

Lone Pine has never been drilled, ever, which provides Hawkstone with a significant opportunity, the company says.

“The acquisition allows us to leverage off the many years of experience working in the US and the professional exploration team built up over that period,” managing director Paul Lloyd says.

“The project will enable the company to rapidly define a potentially high-grade JORC complaint resource in a mining friendly state.

“Quarter 2, 2020 will be a very exciting period for our company and I look forward to creating shareholder value from the exploration of the Lone Pine gold project.”

But the Lone Pine acquisition doesn’t mean Hawkstone is abandoning its lithium assets.

The company says it remains “100 per cent committed” to its (very) Big Sandy project in Arizona.

“[We] will continue to advance the environmental study on the Big Sandy lithium project to facilitate the issuance of a Plan of Exploration,” Lloyd says.

“This will enable the completion of further drilling in the Northern Mineralised Zone.

“Discussions with parties to construct a pilot plant are ongoing.”

>> Now watch: 90 Seconds With… Paul Lloyd, Hawkstone Mining




This story was developed in collaboration with Hawkstone Mining, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.