FROM: HAWKEYE GOLD INTERNATIONAL INC.
August 19, 2000
Canadian Venture Exchange: HGO
Issued ands Outstanding: 3,499,000
Current Price: $0.35
N E W S R E L E A S E
RE: Commencement of YANKEE Property Work Programs
The Company is pleased to announce that a $200,000 work program is underway on its YANKEE Property that is strategically situated within the “Homerun Project” – Victoria Island Diamond Area Play, located on Victoria Island, Nunuvat, Canada. The Company’s work programs are part of four exploration programs currently underway on Victoria Island involving Major General, Ascot and Dia Met Minerals Ltd. Dia Met Minerals which staked an additional 280,000 acres adjacent to the YANKEE Property earlier this year, has commenced a program of geophysics, sampling and prospecting to locate the source of the high interest diamond indicator minerals found in their 1999 work program.
The work programs commenced by HAWKEYE involve a 750 kilometre airborne geophysical survey (line spacing = 75 metres), landsat (I.R.), ground magnetic surveys, inspection of nine anomalies and down ice till sampling for diamond indicator minerals.
The YANKEE Property totals approximately 90,000 acres and is considered to be highly prospective for diamonds. It’s eastern boundary is situated within 15 kilometres of the Snowy Owl diamondiferous kimberlite pipe and 25 kilometres south of diamond bearing kimberlite clusters previously identified by Monopros. To date 15 kimberlites have been discovered within the “Homerun Project” of which 12 are diamondiferous. In a recent news release dated April 25, 2000, the Company announced that nine new geophysical targets prospective for kimberlites had been identified. 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 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.
Based upon favourable results from this work program and a positive recommendation from our geologists HAWKEYE would be in a position to prioritise targets for a third stage drilling program.
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. |
