HAWKEYE GOLD INTERNATIONAL INC.
April 25, 2000
CDNX: HGO
Issued: 3,499,276
Fully Diluted: 4,026,276
Current Price: $0.25
RE: YANKEE Property - Nine new geophysical targets
The Company is pleased to announce that nine new geophysical targets prospective for kimberlites have been outlined on HAWKEYE's 90,000 acre YANKEE Property, strategically situated within the "Homerun Project" -
Victoria Island Diamond Area Play, Nunuvat, Canada. These magnetic anomalies were interpreted from detailed profile data and shadow plots by the company's consulting geophysicist, processes which had not previously been utilized for this data. These processing methods were successful in identifying the nearby diamondiferous Snowy Owl kimberlite on the adjacent Major General-Ascot claims from the same data set.
The nine new magnetic anomalies on the YANKEE Property all indicate a near surface source. This is significant as kimberlites are the only known magnetic units reaching surface in this area, due to the presence of thick
sedimentary cover rocks.
Of the nine new target anomalies, three are rated as priority and one of these is adjacent to an extensive diabase dyke, similar to the setting of the Snowy Owl kimberlite. These targets now require detailed magnetic surveying, either on the ground or by helicopter (line spacing = 50 metres)methods. Some down-ice till sampling is proposed as part of the field evaluation process.
The Company intends to complete a Brokered Flow Through Financing the proceeds of which will be used to finance the geophysical and sampling programs as well as drilling of the new high priority targets.
To date, exploration on the YANKEE Property has consisted of airborne magnetic (line spacing = 200 metres), remote satellite sensing survey's,detailed profile data and shadow plots, as well as widely spaced till sampling surveys.
The YANKEE Property is optioned from Major General Resources who have varying interests in over 1 million acres around this property, parts of which are optioned to Dia Met Minerals of Kelowna, B.C., Canada. A recent announcement by Major General discusses the discovery of a high diamond interest heavy mineral sample by Dia Met. As a consequence of these results Dia Met has staked additional claims and is planning a significant exploration program this year, starting with an aerial geophysical survey.
HAWKEYE can earn a 50% interest in the YANKEE Property by expending $540,000 on exploration over 3 years and making certain share issuances to Major General. The project operator will be Major General.
Further announcements will be forthcoming.
HAWKEYE GOLD INTERNATIONAL INC.
Per:
"Greg Neeld"
President & CEO
Toll Free: 1-800-665-3624
Vancouver: (604) 878-1339
Email: haw@hawkeyegold.com
Web Site: www.hawkeyegold.com
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release. |
