Metal Hawk is launching a 3000-metre diamond and RC drilling campaign at its Commodore nickel-gold discovery in WA’s Goldfields that saw the company’s share price run from $0.185 to $0.965 last year. The discovery is part of the Berehaven project, 20 kilometres south-east of Kalgoorlie where the company is chasing further mineralisation after massive nickel sulphide hits as high as 5.9 per cent nickel were recorded last year.
It backed up the initial nickel results with some serious gold intercepts in February this year when assays confirmed a high-grade gold zone of 5m running 7.2 grams per tonne gold was sitting below the high-grade nickel zone identified in September.
The new gold zone is situated approximately 240m downhole and 40m below the nickel sulphide zone where the same drill hole found a 3.2m intersection grading 2.4 per cent nickel.
That drill hole is now being extended by a diamond drilling rig where it ended in gold mineralisation grading 6.5 g/t gold.
Notably, mineralisation remains open in all directions according to the company.
Management said after extending the hole that ended with 6.5 g/t gold mineralisation, four existing RC holes and two diamond holes will also go deeper and up to four fresh diamond holes will be punched in, mainly to test for extensions of the quartz-sulphide stockwork-style gold mineralisation. It plans to target a possible up-dip extension of the high-grade gold zone with further RC drilling.
Metal Hawk also sent assays from two other drillholes back to the lab for further testing with some significant results.
A new 1.26m zone of quartz-veining and gold mineralisation was intersected going 3.62 g/t gold from 343m. This intercept is located 80m north and more than 90m below the hole that ended in 6.5 g/t gold mineralisation.
Metal Hawk Managing Director, Will Belbin said: “We will be extending a number of diamond and RC holes through the ultramafic footwall as we aim define the orientation of this new high-grade gold zone”.
“It is important to note that none of our previous drillholes were targeting gold and the fact that we have hit mineralisation 80m to the north of BVD001 suggests that we may be dealing with a significant gold-mineralised system.”
The latest round of drilling is being run at the same time as Metal Hawk’s wider regional nickel sulphide exploration activities at the Berehaven project, where it has assembled around 90 square kilometres of underexplored tenure north of the Blair Nickel sulphide deposit.
Metal Hawk appears to be spoilt for choice with both high grade gold and nickel on its hands. The fact that its keyhole ended in mineralisation is important and the next round of results will be telling.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
