Hawkstone is quick off the draw with Lone Pine land extension
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Special Report: Hawkstone has acted quickly to increase its landholding over highly prospective gold acreage in Idaho after rock chip sampling returned high-grade results.
The company now holds 250 claims covering 20 sq km at the Lone Pine project, up 233 per cent from its previous holding of 75 claims.
Hawkstone Mining (ASX:HWK) managing director Paul Lloyd said initial reconnaissance sampling had confirmed its interpretation that the Lone Pine area hosts multiple mineralised zones and is potentially part of a much larger gold-bearing structure.
“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.
“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.
“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.”
The company’s belief in Lone Pine’s prospectivity has already received further vindication with maiden drilling returning high-grade hits such as 2.63m at 7.06 grams per tonne (g/t) gold and 1.22m at 17.02g/t gold from the first seven holes.
Hawkstone has received results for 70 per cent of the 91 rock samples it collected from areas that it considered as prospective for gold mineralisation as part of its initial exploration program.
Notable results include 15.7g/t gold and 11.15g/t gold between the Lone Pine structure and the recently acquired King Solomon project that indicates the potential that they may be a single large structure as well as 22.1g/t gold and 3.22g/t gold from two separate mineralised zones to the west and southwest of Lone Pine.
Likewise, 33 rock samples taken from dump sites near old adits, prospecting pits and trenches at the King Solomon project returned high-grade results that provided evidence of alteration, sulphides and quartz veining.
Several historical drill hole locations have also been identified within King Solomon while historical underground mapping and sampling data is available to aid in initial drill planning.
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.