HAWKEYE GOLD INTERNATIONAL INC.
August 19, 2000
Canadian Venture Exchange; HGO
Issued and Outstanding: 3,499,275
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 |
