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Hawkstone Mining Limited (ASX:HWK)

Big Sandy Drilling Gains Momentum With Northern Results Extending Lithium Mineralisation

Big Sandy Drilling Gains Momentum With Northern Results Extending Lithium Mineralisation


 HIGHLIGHTS 

New results have been received from Hawkstone’s 37-hole Phase 2 diamond drill program at its Big Sandy Lithium-Clay Project, located in Arizona USA. 


Results include a new peak value of 4,380 ppm Li (DHQ21), with drilling continuing to intersect thick, high-grade lithium mineralisation up to 600m north, with best intersections including: 

 DHQ21 

   - 22.0m @ 2,195 ppm Li from 14.0m to 36.0m and 

   - 2.0m @ 1,890 ppm Li from 37.0m to 39.0m and 

   - 20.0m @ 2,333 ppm Li from 40.0m to 60.0m (including 1.0m @ 4,380 ppm Li from 48.0m to 49.0m) and 

   - 5.0m @ 2,092 ppm Li from 63.0m to 68.0m 

 

DHQ22 

   - 3.0m @ 1,020 ppm Li from 6.0m to 9.0m and 47.0m @ 2,130 ppm Li from 12.0m to 59.0m 


 DHQ23 

   - 23.2m @ 2,141 ppm Li from 12.8m to 36.0m and 

   - 4.0m @ 1,528 ppm Li from 40.0m to 44.0m and 

   - 8.0m @ 1,589 ppm Li from 45.0m to 53.0m and 

   - 6.62m @1,604 ppm Li from 58.0m to 64.62m and 

   - 4.0m @ 1,490 ppm Li from 70.0m to 74.0m 


The Company has completed 19 of the planned 37-hole program with diamond drilling continuing over the Northern Mineralised Zone, targeting the previously reported 11km-long lithium horizon. 


Hawkstone advisor and lithium industry specialist Dr. David Deak with Managing Director Paul Lloyd are currently promoting the Big Sandy Project in Perth, Sydney and Melbourne, building investor awareness of sediment-hosted lithium projects. 


 Managing Director Paul Lloyd commented; 

These new results have extended the known lithium mineralisation up to 600 metres north, with drilling continuing to encounter wide areas of thick, shallow lithium mineralisation across simple, consistent geology that compares extremely favourably to other lithium clay projects in the USA. With drilling results continuing to impress and the recent appointment of lithium industry specialist Dr David Deak, the Company is building real momentum towards estimating its maiden JORC compliant resource. In the coming weeks we look forward to announcing assays from drill-holes another 200 metres further north.” 


Hawkstone Mining Limited (ASX:HWK) (Hawkstone or Company) is pleased to announce further results from its fully funded 37-hole drill program at its Big Sandy Lithium-Clay Project, located in Arizona, USA (Figure 3). 


PHASE 2 DRILLING PROGRAM 

Assay results from drill-holes DHQ21, DHQ22 and DHQ23 (Figure 1) are reported below, with the drilling designed to test the continuity and lateral extent of mineralisation encountered in the previously announced results from the Phase 2 programme1,2,3 and drill-holes from the Phase 1 drilling program4. 


DHQ21, DHQ22 and DHQ23 are considered significant because they constitute part of the Phase 2 program designed to enable the estimation of a JORC compliant resource over the Northern Mineralised Zone (Figure 2). 

A bottom cut-off grade of 1,000 ppm Li was used in the calculation of intercepts and a bottom cut-off grade of 2,000 ppm Li was used in the calculation of the higher-grade internal intervals. All holes were drilled vertical. The drilling was completed using HQ diamond drilling equipment, producing a core with a diameter of 63.5mm. 

The drill line 3,842,650N (Figure 2) is located 400m north of hole DDH6 of the Phase 1 program. It demonstrates similar geology and returned similar results to the previously announced cross section through drill-holes DHQ10, DDH11, DHQ12 and DHQ13 located 200m to the south and the previously announced cross section through drill-holes DHQ4, DDH6, DHQ8 and DDH7 located another 200m to the south. 


For Further Information, please contact:

Jane Morgan 

Investor and Media Relations Consultants 
P: + 61 (0) 405 555 618 E: jm@janemorganmanagement.com.au 
A: Level 1, 37 Bligh Street, Sydney NSW 2000 

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