Metal Hawk (ASX:MHK) has begun the second stage of drilling exploration at the Fraser South Project in Western Australia’s Goldfields Esperance region, launching a 50-hole campaign to target new Rare Earth Element (REE) mineralisation following promising results from the maiden aircore (AC) campaign conducted in May this year.
A Successful Maiden Drilling Campaign
Phase Two officially kicks off following the Company reporting promising results from its initial AC drilling at Fraser South which included:
- 26m @ 1526ppm TREO from 16m to EOH, incl. 8m @ 3101ppm TREO from 32m
- 13m @ 1202ppm TREO from 36m, incl. 5m @ 2298ppm TREO from 44m
- 8m @ 1087ppm TREO from 36m and 10m @ 1781ppm TREO from 52m
- 19m @ 816ppm TREO from 8m, incl. 3m @ 2840ppm TREO from 24m to EOH
These results were encouraging for Metal Hawk, and helped guide future exploration activities at the Project to determine the extent of REE mineralisation, testing for early-stage indicators of Ni-Cu-PGE mineralisation along the interpreted southern structural extension of the western margin of the Albany-Fraser belt.
Figure 1: Fraser South Project location
Metal Hawk is an exploration company based in Western Australia, primarily dedicated to the early-stage exploration of gold and nickel sulfides, yet maintaining a diverse portfolio encompassing concurrent exploration of various critical minerals.
Notably, the C ompany has recently achieved significant exploration success at its Yarmany Project, situated 40km northwest of Coolgardie in WA, pinpointing new lithium pegmatite targets along the Ida Fault in August of this year.
The exploration at Yarmany is primed to be be fast tracked following a successful capital raise of $1.2 million through a strongly supported placement, announced in July.
The Company aims to complete follow up drilling at the Bozwood prospect, where recent drilling intersected up to 4120ppm Total Rare Earth Oxides and finalise regional drilling to explore the broader project area for new zones of REE and Ni-Cu mineralisation.
Metal Hawk Managing Director Will Belbin commented, “Following the excellent high grade REE results from our maiden drilling campaign at Fraser South, we are very excited to commence the Stage-2 drilling program.”
“We will be drilling some closer spaced holes at Bozwood and we’ll be testing new target areas for additional zones of REE mineralisation. Additionally, we look forward to further exploring the magnetic high and western margin of the belt for prospective nickel-bearing mafic and ultramafic rocks.”
MHK’s Australian Stock Exchange-listed share price is currently trading at 11.5 cents (2.30pm UTC+ 8 hours).