Join our daily newsletter At The Bell to receive exclusive market insights
- Metal Hawk (MHK) has provided an update on exploration activities at the Emu Lake Project, near Kalgoorlie, Western Australia
- The company has received assay results from its aircore drilling program, which was completed in November 2020
- The drilling program found a gold intersection that will now be further explored
- Additionally, gold assay results have also been received from Metal Hawk’s auger drilling program and found a number of highly anomalous zones of surface gold mineralisation
- Another round of Auger drilling has already started at Emu, and results from this program are expected in March
- On market close, Metal Hawk is down 11.5 per cent and trading at 23 cents per share
Metal Hawk (MHK) has provided an update on exploration activities at the Emu Lake Project, near Kalgoorlie, Western Australia.
Aircore drilling
The company has received assay results from its aircore drilling program, which was completed in November 2020.
The drilling program included 59 holes for 3801 metres. Results showed gold was
intersected within weathered felsic rocks and associated quartz veining, including seven metres at 0.26g/t of gold from 68 metres.
The next stage of exploration at the prospect will need to be deeper and closer spaced so that Metal Hawk can identify the source of the large surface gold anomaly.
“It is encouraging to confirm that this broad geochemical anomaly is potentially related to bedrock mineralisation, with significant gold values intersected at depth,” Managing Director Will Belbin said.
“We will be following-up these results initially with single metre assaying of anomalous composite samples prior to initiating the next phase of drilling as we continue our systematic exploration on this project,” he added.
Auger drilling
Gold assay results have also been received for samples submitted in November 2020 from 378 auger holes that were drilled in the third quarter of 2020.
The auger survey was carried out on mostly 400 metres by 100 metres centres and found a number of highly anomalous zones of surface gold mineralisation.
“These new auger results are particularly exciting given their wide spacing and proximity to major structures along the greenstone belt,” Will explained.
“We will tighten this geochemical grid with closer-spaced auger sampling and then prioritise follow-up deeper drilling,” he concluded.
Another round of Auger drilling has already started at Emu, and results from this program are expected in March.
On the market close for today, Metal Hawk is down 11.5 per cent and trading at 23 cents per share.
