HAWK:CC - HAWKEYE Gold Confirms Coincident Multi-Metal and Geophysical Targets on its 2 Aces East Property -- Barkerville BC
(TheNewswire)
June 14, 2022 – TheNewswire - Vancouver, British Columbia, Canada - HAWKEYE Gold& Diamond Inc. (the “Company” or "HAWKEYE")(TSXV:HAWK ) ; (OTC:HWKDF) ( Frankfurt Ticker:HGT ) ; ( WKN:A12A61 ) ( ISIN:CA42016R3027): is pleasedto announc eresults from its multi-phased 2021 ground-based work program conductedduring September and October 2021 (the “2021 work program” or“Exploration Program”) over its 100% owned 2 Aces East property.The 2 Aces East property covers approximately 1,780 hectares (the“Property”) and is strategically located 32 kilometres southeastof the Town of Barkerville in the prolific Barkerville / Cariboo goldcamp in central British Columbia (“BC”), Canada. TheProperty lies within the southeasterly-strikingSnowshoe Group of the Barkerville Terrane. This is the geologicalformation that hosts Osisko Development’s (TSX.V, NYSE: ODV) currentgold exploration and mine development projects, including IslandMountain, Cow Mountain and Bonanza Ledge.
2021 Work Programs
The 2021 geological fieldwork provided ground truthingto the results of Geotech Ltd. airborne geophysical survey consistingof a 489-line kilometre, 150-metre spaced survey grid. A leading geophysics consulting firm processed the raw dataand completed an overall interpretation including 3D inversionanalysis for the 2018 airborne geophysical survey. Several new targetanomalies were identified for exploration follow-up by our crew duringthe October 2021 work program. Early snow conditions limited access tosome parts of the project area and those tasks will be continued in2022.
Prior to commencement of the 2021 work program, Hawkeyecompleted a thorough review of the pertinent BC Government ARISreports and discovered a number of historical soil sampling programson the Property though none of which were subject to appropriatefollow-up exploration. Assessment report 19327 (1989), included 1,028soil samples across the central valley. Anomalous lead (“Pb”),zinc (“Zn”), copper (“Cu”) and silver (“Ag”) values werenoted including samples that reported 2.8 ppm Ag, 95 ppm Cu, 1,130 ppmPb and 13,700 ppm Zn. This area correlates with “Target A” asrecognized within the 2021 geophysical interpretation of airbornemagnetic data on the 2 Aces East claim (Fig. 1).
In addition, 736 soil samples were digitized fromassessment report 21886 (1991) along the northern plateau within theclaims. Samples reported anomalous Pb, Zn, and Ag including highlightsof 1.4 ppm Ag, 739 ppm Pb, and 5,200 ppm Zn. This area correspondswith “Target B” on the 2021 geophysical interpretation of airbornemagnetic data on the 2 Aces East claim (Fig. 1). Copper was notreported in the 1991 soil program which may have targeted regionalAg-Pb-Zn mineralization.
Figure 1: 2021airborne magnetic interpretation map identifying two target areas ofmaximum structural disturbance within the 2 Aces East Property.
During the 2021 work program, Hawkeye’s geology teamcollected a total of 24 stream sediment samplesacross twelve sample sites along a variety of creeks flowing from thenorth and the south. Sieved and dried samples were sent to SGSCanada’s (“SGS”) accredited commercial analytical facilities inBurnaby, BC to be assayed for precious and base metals.
The stream sediment sampling highlighted a significantgold (“Au”) anomaly of 1,180 ppb Au from a stream runningnortheast from the ridges associated with the Three Ladies Mountain.This area has never been explored as part of the 2 Aces East claimpackage. Other anomalous results including 4,719 ppm Zn, 54.8 ppm Pb,22.7 ppm Cu, 0.13 ppm Ag. Additional stream sediment sampling to focuson the gold anomaly is recommended.
In addition to the stream sediment sampling, the fieldcrews collected a total of 13 rock samples that were also sent to SGSfor geochemical analysis. These samples are anomalous for Cu, cobalt(Co), nickel (Ni), Pb, and Zn as follows:
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Copper ranged from 5.7 ppm to 47.0 ppm.
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Cobalt ranged from 13 ppm to 33 ppm Co.
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Lead ranged from 4.0 ppm to 32 ppm, with the maximumvalue from a marble sample.
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Three samples reported over 80 ppm Zinc, including amicaceous pelite/phyllite assaying 98 ppm Zn and a biotite schistcontaining 96 ppm Zn.
The elevated copper, cobalt, and zinc values areassociated with fault gouge material found within a steep gully, withdisseminated chalcopyrite and pyrite observed in outcrop.
Figure2: Synthesis map of the2021 rock and stream sediment sampling program.
The Company is pleased with the positiveresults received from the 2021 work program over the 2 Aces Eastproperty. The data indicates a direct correlation of anomalous copper, cobalt, nickel, lead, zinc, gold andsilver coincident with historic soil sampling, our 2021 rock sampleand stream sediment trends and recently interpreted geophysicaltargets.
Mr. Greg Neeld, President & CEO of Hawkeye states,“With the pending close for the sale of Hawkeye’s four GoldenTriangle Properties to Newcrest Mining for $1,400,000, Hawkeye isexcited to redirect its energies towards the exploration of its 2 AcesEast, 2 Aces West, Cariboo Valley, Seller Creek, Keithley Creek andSwift River properties located in the prolific Barkerville / Cariboogold camp. The Company is also pleased with the verification anddiscovery of copper, cobalt, nickel, and zinc within the seven typesof potential mineralization identified on the 2 Aces East property.These four critical metals are becoming more important to the worldand future demand for these Battery Metals are expected to increasesignificantly as the world transitions to the emerging ElectricVehicle market and Green Energy electrification of the planet. We lookforward to announcing 2021 results from the 2 Aces West, CaribooValley, Seller Creek, Keithley Creek and Swift River properties and tocommencing the Company’s 2022 work programs.”
Figure3: Field staff fromHawkeye’s geological team collecting rock samples (top) and streamsediments (bottom).
About Barkerville
Barkerville was the centre of the historic Cariboo goldrush starting in 1860. The recorded production estimate from 1861-1987reported more than 5,000,000 ounces of gold which included 3,800,000ounces from placer operations and 1,230,000 ounces from lode mining. Hawkeye’s six (6)Barkerville Properties are either contiguous or proximal to thesouthern boundary of the Osisko Development’s Cariboo Gold Project.Osisko Development recently announced a measured and indicatedresource of 3.2 million ounces gold at 4.6 g/t and an inferredresource of 2.7 million ounces of gold at 3.9 g/t.
QualifiedPerson
Andy Randell, P.Geo., is the Company'sdesignated Qualified Person within the meaning of National Instrument43-101 Standards of Disclosure for Mineral Projects ("NI43-101"). Mr. Randell has prepared, reviewed and validatedthat the technical information contained within this release isaccurate.
About HAWKEYE
HAWKEYE Gold & Diamond Inc. is a junior mineralexploration and development company based in Vancouver, BritishColumbia (BC), Canada. The Company's precious and base metalsproperties are located in the prolific Golden Triangle of northwestBC, in the world-class Barkerville gold camp situated in the historicCariboo Mining District of central BC, and on Vancouver Island, BC,Canada. HAWKEYE's corporate mandate is to buildstrong asset growth and shareholder value through the acquisition oflow-cost, high-potential opportunities with discovery potential, andto manage its business in an environmentally responsible manner whilecontributing to the local community and economy.
HAWKEYE GOLD & DIAMONDINC.
Per:
“Greg Neeld”
President & CEO
Vancouver: (604) 908-8511
Email: greg@hawkeyegold.com
Web Site: www.hawkeyegold.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Cautionary NotesRegarding Forward Looking Statements
This News Release containsforward-looking statements. Forward-looking statements arestatements that relate to future events. These statements are onlypredictions and involve known and unknown risks, uncertainties andother factors that may cause our or our industry’s actual results,levels of activity, performance or achievements to be materiallydifferent from any future results, levels of activity, performance orachievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions uponwhich they are based, are made in good faith and reflect our currentjudgment regarding the direction of our industry, actual results willalmost always vary, sometimes materially, from any estimates,predictions, projections, assumptions or other future performancesuggested herein. Except as required by applicable law, the Companydoes not intend to update any of the forward-looking statements toconform these statements to actual results.
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