Hawkstone’s high-grade sampling turns up the heat at Devil’s Canyon
Special Report: Hawkstone continues to highlight the exceptional potential of its Devil’s Canyon gold project with sampling returning some spectacular grades.
This is very clear with peak results of up to 191.5 grams per tonne (g/t) gold, 524g/t silver and 10.2 per cent copper from the rock sampling, which has outlined several mineralised trends associated with previously announced targets, granite intrusives and carbonate units.
Airborne magnetic surveying at the project, which is located within the highly prolific Carlin Trend in Nevada, has also identified additional geophysical features that are identified as magnetite skarn alteration at lithological contacts and along structures as well as zones of magnetite destruction possibly related to later mineralising events.
Hawkstone Mining (ASX:HWK) managing director Paul Lloyd says the “highly encouraging” rock samples further confirm and extend mineralised areas that have been identified by previous work that when combined with the airborne survey results, show several areas for follow-up.
“These high-grade results reinforce our business model of exploring for world class gold deposits in the Western United States adjacent to large gold resources or producing gold mines,” he added.
“This is in addition to our Big Sandy Sedimentary Lithium Project in Arizona that remains the company’s primary focus.
“This diversification ensures that the company is flexible and provides shareholders with the maximum potential return.”
Hawkstone collected 37 samples with a focus on extending areas of known mineralisation together with reconnaissance prospecting along prospective trends and targets identified from previous sampling and geological interpretations.
This has defined four distinct mineralised zones that suggest that mineral zonation, produced by multiple intrusive and mineralising phases, may exist.
This is broadly similar to the McCoy-Cove Gold property located in the Battle Mountain-Eureka Trend, one of the highest-grade gold deposits in Nevada with historical production of about 2.6 million ounces of gold and 100 million ounces of silver.
Meanwhile, the airborne magnetic surveying shows the presence of magnetic highs related to possible magnetite rich intrusives, alteration zones or skarns.
Data from the survey is presently being interpreted and modelled in conjunction with the previous photogeological structural interpretation and available geochemistry.
Hawkstone expects the magnetic data to be combined with existing information to highlight specific areas and produce further targets for ground follow-up.
The company plans to carry out portable XRF geochemistry across the project area to further define and extend the known trends as well as identify new trends.
This will be followed by geological mapping and sampling of targets identified by the geophysical interpretation to increase precision for the location of targets and drill holes before the company kicks off a maiden drilling program.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.