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Gold/Mining/Energy : HAWKEYE GOLD INTERNATIONAL INC. (VSE:HGO)

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To: Maurice Fougere who wrote (200)5/21/1997 9:34:00 PM
From: keith massey   of 472
 
From hawkeyes news release

Based upon these interpretations a three staged exploration program has been recommended for the TRI-REBA and MO claim groups.

Emphasis in stage one will be on the southern portion of the TRI-REBA claims due to the HONK mineral occurrences. To properly assess this showing a geophysical grid should be established and ground magnetometer and induced polarization surveys completed. Subsequent to this, but before drilling, the showing should be geologically assessed.

Phase one should also include extensive reconnaissance geological mapping and prospecting of all TRI-REBA and MO claims with additional emphasis spent upon defined anomalies outlined in the airborne interpretation.

This mapping will serve to eliminate some targets from further work but, equally, will enhance others.

A second stage exploration program should focus upon a geophysical assessment of anomalies upgraded through the geological program. This work would include linecutting, detailed magnetometer surveys and induced polarization surveys. If warranted, gravity surveys could be selectively performed and all grids should be geologically mapped, prospected and sampled.

Stage three would entail initial drill testing of priority targets established through the preceding geological and geophysical surveys. This initial drill program would entail shallow drill holes on a number of separate targets. Further delineation drilling would then depend upon these results.

The Company is currently mobilizing its 1997 summer work program anticipated to begin in June on its TRI-REBA and MO Uranium, Copper, Gold, Cobalt and Bismuth prospects.

From the sounds of this I think we will see few drill results this summer. It will take most of the summer to get phase 1 and 2 completed. They haven't said if phase 3 was even in their summer program. I think hawkeye has great potential but it is going to take some drill results to get this baby moving.

I bought in at 1.25 before I found out about the change in price of the EOP and the Bre-X scam. I plan to buy more in Nov-Dec in .40-.60. range. Since this is their only project they are going to drag it out for for several years. I don't want to step on anyones toes but unless they tell me that there will be a substantial drill program this summer I fail to see any reason this stock will have any large price increases. However next summer the sky is the limit.


Best Regards
KEITH
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