ASX-listed junior explorer Metal Hawk has hit serious paydirt again at its Berehaven project, 20 kilometres south-east of Kalgoorlie in the West Australian Goldfields. Assays have confirmed a high-grade gold zone of five metres running 7.2 grams per tonne gold is sitting below the company’s high-grade nickel zone identified last year.
The new gold zone is situated approximately 240m downhole and 40m below the nickel sulphide zone that is headlined a by a 3.2m intersection grading 2.4 per cent nickel.
Four diamond drillholes that together worked through 1,210m are complete now at the Commodore prospect within the Berehaven project. The latest hit comes from the end of the first diamond drill hole that ends with an encouraging 1.2m at 6.5g/t gold. Notably, mineralisation remains open in all directions according to the company.
Metal Hawk is eager to receive its next batch of assays that should include the results of the other three holes as its looks to get a handle on the extent of mineralisation in its newly discovered gold zone. The pending assays will also have more to say on the interval between the gold and nickel sulphide zones.
The gold mineralisation is associated with a zone of quartz-sulphide veining within a larger package of footwall felsic volcanic rocks. The nickel sulphide zone is located higher up the sequence, near the basal contact of high magnesium oxide ultra-mafic rocks.
Metal Hawk Managing Director Will Belbin said;
“…We have similar zones of quartz-sulphide veining in the other three diamond holes drilled and eagerly await assays for these samples before finalising plans for follow-up diamond drilling.”
The small cap explorer owns 100 per cent of the mineral rights on the ground containing the latest high-grade hits and also has options to purchase the nickel rights over the adjacent ground from Horizon Minerals.
With its ground producing good results and cash in the bank to fund more drilling, Metal Hawk appears well positioned now to move on both the gold and nickel opportunities at the project. With solid numbers for each already in the bag, the company’s biggest problem might be deciding if it has a gold project on its hands with nickel credits or a nickel play with gold credits – a nice problem to have.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
