Metal Hawk takes flight with REE and nickel drilling at Fraser South
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Metal Hawk has kicked off maiden aircore drilling targeting rare earths mineralisation and early indicators of nickel-copper-PGEs at its Fraser South project along strike from recent clay-hosted REE finds.
The “extensive” drill program will test for these critical metals along the interpreted southern structural extension of the western margin of the Albany-Fraser belt in Western Australia, which hosts the world-class Nova-Bollinger nickel mine.
Metal Hawk (ASX:MHK) had previously noted that work will focus initially on the southern tenements E63/3809 and E36/1936, which are located immediately north and along strike from OD6’s Splinter Rock and just 10km from the Newmont deposit within West Cobar’s Salazar project where drilling had uncovered extensive, shallow clay-hosted REEs.
This drill program comes mere weeks after the company reached a scrip deal to reclaim full control of the project (and two other projects), which had previously been subject to a joint venture agreement with IGO that had the major miner holding a 51% interest.
As a result of that deal, IGO increased its shareholding in Metal Hawk from 5.4% to 8.2%.
“We are pleased to commence the maiden drilling program at Fraser South following the recent acquisition of IGO’s JV interest,” Metal Hawk managing director Will Belbin said.
“We will be drill-testing a broad 15km target zone across the southern extension of the unexplored Albany-Fraser metamorphic belt.
“The project area is also located within a rapidly emerging REE region with several recent discoveries identified along strike and immediately south of Metal Hawk’s tenement area.”
While initially explored for nickel-copper-platinum group elements mineralisation, the recent spate of clay-hosted REE finds in the region such as OD6’s Splinter Rocks discovery has brought the prospect of finding these minerals that are so critical for the energy transition to the forefront at Fraser South.
Metal Hawk’s drilling will test for REEs within the weathered zone above the regionally extensive and REE-enriched Booanya Granite.
Along with its increased shareholding in the company, IGO retains the Right of First Offer to purchase any ore or concentrate containing nickel group and lithium group minerals produced from the project tenements as well as right to match any third-party offtake agreement in respect of ores and concentrates of the same minerals.
This article was developed in collaboration with Metal Hawk, 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.