HAWKEKYE GOLD INTERNATIONAL INC.
July 31, 2001
Canadian Venture Exchange - HGO
Trading Range: $0.20
News Release No: 91
HAWKEYE Completes Pre-DrillGeophysical Program on YANKEE Diamond Property
A detailed work program of ground magnetic surveys, which was previously announced on June 26, 2001, has been completed over three of eight kimberlitic targets discovered on the Company’s YANKEE diamond property which HAWKEYE owns a 33 1/3 % interest and has the right to earn up to 50 per cent from its joint venture partner Major General Resources Ltd. (Major General). The YANKEE Property totals 90,000 acres and is strategically situated within the ”Homerun Project”, located on Victoria Island, Nunavut, Canada.
The three targets that had ground magnetic surveys completed over them are land based. The five remaining targets are located under small shallow lakes and the surveys were deferred due to dangerous ice conditions. Detailed magnetic surveys will be completed over the remaining five targets later this year. This work, which will take several days to complete, will provide the on-site geologists the detailed data needed to define the kimberlitic targets and determine the drill hole locations.
Results from the ground magnetic surveys completed over the three land based targets were consistent with previously completed airborne geophysical survey interpretations and with other proven kimberlite pipes in the area. One of the land based targets, PAR 14, is ovoid in shape measuring 400 metres by 600 metres and has an interpreted depth of 75-100 metres. Anomaly A-8 is about 75 metres in diameter with a target area of just over one acre. Anomaly A-1 shows some unclear magnetic patterns and further work is required before it is determined to be a kimberlitic anomaly.
Results of the year 2000 indicator mineral sampling program on lines 3-4 kilometres apart show the presence of kimberlitic garnets down ice from each of the eight magnetic anomalies noted above. Samples, which may be from 0.5 to 3 kilometres down-ice from the anomalies, contain from 1-11 kimberlitic grains each.
As kimberlites are the only magnetic units reaching surface through the thick sedimentary sequence on Victoria Island, it is highly likely that the source of these shallow magnetic targets is kimberlite.
To date, 16 kimberlites have been discovered on Victoria Island, of which 14 are diamondiferous, indicating the presence of an underlying fertile mantle and deep-seated kimberlites. These targets are supported by the presence of numerous kimberlitic indicator minerals. As the 8 targets that HAWKEYE has discovered to date are situated between fifteen and 20 kilometres from the known diamondiferous kimberlites, any new kimberlites discovered would be part of a large diamondiferous cluster.
HAWKEYE confirms that project-operator Major General has received confirmation from the Nunavut Mining Recorders Office that applications for drilling, campsite and water permits have been approved.
Further news will be forthcoming with regards to our anticipated summer work programs for the YANKEE Diamond Property.
HAWKEYE GOLD INTERNATIONAL INC.
Per:
“Greg Neeld”
President & CEO
Toll Free: 1-800-665-3624
Vancouver: 1-604-878-1339
Email: haw@hawkeyegold.com
Web Site: www.hawkeyegold.com
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