Hawkstone Received Further Results From Its 37-Hole Phase 2 Diamond Drill Program

Exploration and mining company Hawkstone Mining Limited (ASX: HWK) is primarily involved in the development of its wholly owned Big Sandy and Lordsburg Projects which are located within the United States Battery Corridor.

In an announcement made on 23 May 2019, the company announced that it has received further results from Hawkstone’s 37-hole Phase 2 diamond drill program at its Big Sandy Lithium-Clay Project, located 2.5 hours’ drive northwest of Arizona’s state capital, Phoenix.

The results received from Drill-holes DHQ33, DHQ34 and DHQ35 are intersecting thick, high-grade lithium. Till now the results from the drilling program have provided confirmation of northern extension to high-grade lithium mineralisation.

Notable results include-

Drill hole - DHQ33

  • 0m @ 2,123 ppm Li from 37.0m to 49.0m and
  • 0m @ 1,967 ppm Li from 51.0m to 74.0m and
  • 0m @ 1,777 ppm Li from 77.0m to 83.0m

Drill hole - DHQ34

  • 0m @ 1,798 ppm Li from 10.0m to 42.0m and
  • 0m @ 2,091 ppm Li from 43.0m to 68.0m and
  • 0m @ 1,624 ppm Li from 72.0m to 79.0m

Drill hole - DHQ35

  • 0m @ 1,444 ppm Li from 16.0m to 21.0m and
  • 0m @ 2,015 ppm Li from 23.0m to 62.0m and
  • 0m @ 1,650 ppm Li from 63.0m to 65.0m and
  • 0m @ 1,705 ppm Li from 70.0m to 72.0m

Big Sandy Project, Drill Cross Section 3,842,850N with reported holes DHQ33, DHQ34, and DHQ35 (Source: Company Reports)

Besides this, the Assay’s received from holes DHQ24 and DHQ26, located on the eastern margin of the identified mineralisation, with significant shallow lithium mineralization.

The company is currently progressing with its Phase 2 drilling program, results of which are currently generating a stream of significant news flow as the Company builds momentum towards the expected compilation of its maiden JORC compliant resource.

Recent exploration has highlighted the potential of the Big Sandy Project, which is why the company undertook a placement to raise around A$2.4 million at $0.02 per share in order to make sure that the company is well-funded for further drilling and metallurgical test work.

Net proceeds from the Placement are intended to advance the Company’s flagship Big Sandy Project with further drilling programs and metallurgical test work planned as the Company builds towards the estimation of a maiden JORC compliant resource targeted for late 2019.

Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock traded at a price of $0.023, down by 4.167% during the day’s trade with a market capitalisation of ~$13.69 million as on 23 May 2019. The counter opened the day at $0.024 and reached a day’s low of $0.023 with a daily volume of ~1,118,338. The stock has provided a year till date return of -26.32% & also posted returns of 9.09%, 26.32% & 84.62% over the past 6 months, three & one-month period respectively. It had a 52-week high price of $0.040 and touched 52 weeks low of $0.011, with an average volume of ~928,437.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK