HAWKEYE Discovers Copper Grades up to 1.80% and Extends Historical Copper-in-Soil Anomaly Within 4 km Mineralized Trend at Boomerang
TSX VENTURE: HAWK
VANCOUVER, BC / ACCESSWIRE / December 5, 2018 / HAWKEYE Gold & Diamond Inc. (the "Company" or "HAWKEYE") (TSX-V: HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): is pleased to announce soil and rock geochemical results from its recently completed Phase 2 work program at its 100% owned Boomerang property. The property is located in the Golden Triangle of northwest British Columbia, totals 3,744 hectares (over 37 km2) and is located approximately 25 km northwest of Teck and Copper Fox's Schaft Creek Cu-Au deposit and 50 km north of Teck and Newmont's Galore Creek Cu-Au deposit.
The 2018 soil sampling program, coupled with historical soil surveys, outlined an approximately 500 metre wide by 1500 metre long copper-in-soil trend, with the bulk of the values ranging between 100 and 1225 ppm copper (Figure 1). In addition, a total of 26 mineralized rock samples, mainly collected from within the trend, comprise propylitically altered and veined volcanic and volcaniclastic rocks of the Hazelton Group as well as dykes which cut them. Mineralization consists of narrow copper-bearing calcite veinlets and mineralized fractures within volcanic rocks and quartz monzonite dykes. Nine of the rock samples returned copper grades ranging from 0.10% to 1.80%. Chip samples included a 0.5 metre sample taken across a fracture zone within mafic volcanic rocks averaging 1.56% copper, and a 0.5 metre sample collected across a potassium feldspar-rich porphyritic dyke averaging 1.71% copper.
Left: Chalcopyrite and malachite mineralized basalt, associated with quartz-monzonite dykes (view approximately 1.5 metres x 1 metre). Center: Boomerang property looking southwest. Right: Chalcopyrite and malachite mineralization within fracture zone (25 centimetres across at this locality) hosted by intensely altered volcaniclastic rock; mineralization can be traced for over 20 metres.
The copper mineralized trend and associated soil geochemical anomaly appear to follow the southwestern margin of a moderate magnetic high that was identified in a government-run airborne magnetic survey (Figure 2). The magnetic high may be interpreted as an intrusion at depth that could be driving the system of alteration and mineralization. Nearby intrusive rocks have yielded latest Triassic to earliest Jurassic age dates, and these are similar to the ages of intrusive rocks that are genetically related to mineralization at the nearby Galore Creek and Schaft Creek Cu-Au deposits.
Given the encouraging results obtained from the Phase 2 ground exploration program, the Company is soliciting proposals for the recommended high-resolution airborne magnetic survey intended to be completed in early to mid-2019 over the Boomerang property. Subsequent to completion of the airborne magnetic survey, interpretation of the high-resolution magnetic data obtained by the survey will be followed up with additional prospecting, detailed soil geochemical and ground-based Induced Polarization geophysical surveys. Upon positive results, a 2019 drill program will be implemented to test high priority targets.
Quality Assurance/Quaity Control
All soil and rock samples were delivered directly by the crew to ALS Global's analytical facility in Terrace, B.C. for preparation, and subsequent precious metal and multi-element analysis in their North Vancouver laboratory. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO / IEC 17025:2005 from the Standards Council of Canada.
Figure 1: Copper-in-soil trend with significant rock sample locations noted.
Figure 2: Copper results overlying the Geological Survey of Canada's Provincial Residual Magnetic Intensity (nT) survey.
Technical information in this news release has been approved by Andrew Mitchell, B.Sc., P. Geo., a senior geologist with C.J. Greig & Associates and a qualified person for the purpose of National Instrument 43-101. Mr. Mitchell has prepared, reviewed and validated that the technical information contained within this release is accurate.
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada. The Company's precious and base metals properties are located in the prolific BC Golden Triangle, world-class Barkerville gold camp and Vancouver Island, BC, Canada. HAWKEYE's corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential cash flow and production opportunities with blue sky discovery potential, and to manage our business in an environmentally responsible manner while contributing to the local community and economy.
HAWKEYE GOLD & DIAMOND INC.
President & CEO
Vancouver: (604) 908-8511
Web Site: www.hawkeyegold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.