Metal Hawk Limited (ASX: MHK, 'Metal Hawk' or 'The Company') is pleased to advise that the Company's application for the Viking Gold Project tenement (E63/1963) has been granted.
The tenement covers an area of 210km2 and is located approximately 30km east of Norseman, within the southern portion of the world-class Albany-Fraser Province. The tenement is subject to an earn-in agreement with CGM (WA) Pty Ltd (CGM), a wholly owned subsidiary of Chalice Mining Limited (ASX: CHN, or 'Chalice').
Metal Hawk's Managing Director Will Belbin commented: 'We look forward to the commencement of exploration drilling on the Viking Project which presents as a very exciting high-grade gold discovery opportunity. We are delighted to have a partnership with the Chalice team and believe this project has potential to add significant value for Metal Hawk shareholders.' Chalice are managing exploration on the project and have plans for circa 3,000m of Reverse Circulation (RC) drilling in their initial program at the high-grade Beaker 2 prospect which is expected to commence in the June quarter subject to government approvals.
The Viking Gold Project is located close to the town of Norseman, with well-established mining infrastructure and services which will advance any future developments of potential gold resources.
Earn-In Agreement
The Viking Project is subject to a JV earn-in agreement, whereby CGM (WA) Pty Ltd have the right to earn a 51% interest by spending a total of $1,000,000 over 2 years. CGM are committed to spending a minimum of $200,000 on the project. On achieving 51% interest, CGM have the right to earn a further 19% (70% total) by funding an additional $1,750,000 over 30 months. Upon completion of the earn-in period, both partners will form a JV and fund exploration on the Viking Project on a pro-rata basis.
Project Background
The Viking project is located approximately 30 km east of the regional town of Norseman and is located within the high-grade metamorphic Albany Fraser Province which hosts the Tropicana gold deposit. Access to the project area from Norseman is along the old Telegraph Track, 18 km south of Norseman via the Coolgardie-Esperance Highway.
Gold mineralisation at Viking was discovered by AngloGold Ashanti Limited (ASX: AGG) through surface and auger sampling in 2011. The project has since been explored intermittently up until 2017 with mostly shallow drilling. Metal Hawk's licence E 63/1963 covers gold mineralisation identified at the Beaker 1, 2, 3 and 4 prospects, which have each returned significant gold intercepts from drilling, including up to 2m @ 13.1g/t Au, 6m @ 64.0g/t Au, 1m @ 5.13 g/t Au and 6m @ 6.0 g/t Au (including 3m @ 11.4g/t Au) respectively.
The Beaker prospect area is dominated by a block of variably sheared, deformed and altered Archaean granites that retain some remnant Yilgarn structural features which trend northeastsouthwest, parallel to the Albany-Fraser-Orogen. The Beaker 2 and Beaker 4 prospects are located approximately 5km apart and are the two most advanced gold prospects on the Viking Project.
Beaker 2
The Beaker 2 prospect will be the focus for further exploration drilling at the Viking Project, with preparations for RC drilling now underway. Mineralisation at Beaker 2 is characterised by a zone of flat lying high grade supergene gold. Limited previous drilling has tested the oxide mineralisation while the primary source (bedrock) of gold remains to be explored.
About Metal Hawk Limited
Metal Hawk Limited is a Western Australian mineral exploration company focused on early-stage discovery of gold and nickel sulphides. Metal Hawk owns a number of quality projects in the Eastern Goldfields and the Albany Fraser regions.
Western Areas Limited (ASX: WSA) has an Earn-In and Joint Venture Agreement with Metal Hawk whereby WSA have the right to earn a 75% interest on three of MHKs projects; Kanowna East, Emu Lake and Fraser South by spending $7.0 million over 5 years. Metal Hawk is free carried to decision to mine and retains gold rights at Kanowna East and Emu Lake.
Kanowna East, Metal Hawk's flagship project, is located 25 kilometres north east of Kalgoorlie and 8 kilometres from Northern Star's (ASX: NST) +5 Million ounce Kanowna Belle gold mine. Since ASX listing in November 2020 Metal Hawk has drilled over 17,500 metres of Aircore (AC) at the Kanowna East Project, returning very encouraging first-pass results, including; 4m @ 7.1g/t Au from 55m, 6m @ 3.37g/t Au from 24m and 5m @ 2.24g/t Au from 65m. The Company is drilling under extensive lake clays and sands as it searches for a significant new gold system. Results are pending from the lake AC drilling campaign completed in March 2021.
Contact:
Will Belbin
Email: admin@metalhawk.com.au
Forward Looking Statements
This document may include forward looking statements. Forward looking statements include, but are not limited to, statements concerning Metal Hawk Limited's planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate,' 'expect,' 'intend,' 'may', 'potential,' 'should,' and similar expressions are forward looking statements.
METAL HAWK LIMITED 
