Here's the latest news. Moving in the right direction I believe. Drill permits even !!
Hawkeye Gold Corporation
HAW VSE
August 13, 1997
Completion of Stage 1 Ground Exploration Program
HAWKEYE GOLD CORP ("HAW-V;HWKIF-L")
- Completion of Stage 1 Ground Exploration Program
Greg Neeld, President & CEO of Hawkeye Gold Corp., is pleased to announce that the Company has completed Stage 1 of its 1997 ground exploration program over the entirety of its TRI-REBA and MO claims (the "properties") , which the Company owns a 100% interest in 18,849 acres, located in the Betty Ray Lake region approximately 150 kilometres northwest of Yellowknife, Northwest Territories, Canada.
The MO claims are situated approximately ten kilometres north of the Company's TRI-REBA group of claims, which are adjacent to the eastern border of Fortune Minerals NICO claims where Fortune Minerals recently announced a 69.9 million tonne global drill indicated resource of gold, copper, cobalt, bismuth and tungsten oxide and are continuing drilling to trace the east strike extension of the Bowl Zone where significant intersections of gold have been discovered.
Stage 1 included a compilation of geophysical and geological
information for the claims together with processing and interpretation of satellite imagery prior to geological mapping of the entire
property. Results from Stage 1 identified four significant geophysical anomalies on the TRI-REBA claims and as a result, the Company's Geologists have recommended that the Company proceed to Stage 2 of its ground exploration program which will focus upon the geophysical assessment of these anomalies. This program will entail line cutting over the above mentioned anomalies followed by an extensive geophysical survey including magnetics, induced polarization, radiometrics and gravity, if required. Stage 2 will assist in identifying the presence of subsurface metallic mineralization.
Due to exploration results from Stage 1 the Company has decided for the time being not to perform follow up ground exploration on its MO 3, 4, 5 and 6 claims.
The Company's Stage 2 geological assessment program will focus upon the four anomalous areas identified within the TRI-REBA group of claims with an emphasis on two areas that flank the eastern border of Fortune Minerals NICO claims. Area 1 is located on the TRI 1 claim adjacent to Fortune Minerals north eastern border. The Company believes this anomaly could be the eastern extension of the Fortune Mineral discovery. Area 2 is located in the south western portion of the TRI 2 claim adjacent to Fortune Minerals south eastern border. This anomaly is underlain by the same metasedimentary rocks as are found on the NICO claims. Area 3 is situated in the southeastern
part of the REBA 3 claim. Area 4 is located in the northern portion of the REBA 2 claim situated on the Honk occurrence which is a Uranium showing discovered by Uranerz Exploration and Mining Ltd.
Upon completion of Stage 2, Hawkeye will be in a position to identify priority targets for its anticipated follow up Stage 3 drilling programs. Furthermore, the Company has received a Land Use permit from the Land Use department, Indian and Northern Affairs, Canada, authorizing its follow up ground geophysical work and drilling programs (drilling permit) for the TRI-REBA and MO group of claims.
Further announcements will follow regarding the commencement date for the Company's Stage 2 ground geophysical program over its TRI and REBA claims.
TOLL FREE: 1-800-665-3624 Greg Neeld, President & CEO
INTERNET: www.hawkeyegold.com |
