September 14, 2017
News Release No. 276 - 2017
TSX Venture Exchange: HAWK
Frankfurt Exchange: HGT
HAWKEYE ACQUIRES ITS FIRST GOLD PROPERTY IN THE GOLDEN TRIANGLE, BRITISH COLUMBIA, CANADA
Vancouver, British Columbia – HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSX.V-HAWK; Frankfurt Ticker: HGT; ISIN: CA42016R3027; WKN: A12A61): is pleased to announce it has entered into a Sale and Purchase Agreement (SAPA) with the vendor of the McBride Project (the “Property) to acquire a 100% interest in the 4,611-hectare Property situated approximately 12 kilometres east-northeast of the Village of Iskut, BC, Canada. The Property is located west of the Klappan River surrounding Thatue Mountain, and contiguous to the northern boundary of the Red Chris Development Company (Imperial Metals), and within 2 kilometres of properties held by GT Gold, Colorado Resources and Teuton Resource
The Property occurs within the Stikinia Terrane, primarily lies within the Jurassic-age Hazelton Group calc-alkaline volcanics and is located only 18 kilometres east of the recent GT Gold “Saddle” discovery where significant gold values were reported in soil sampling programs and the current drilling campaign.
Message from the President
Mr. Greg Neeld, President & CEO states, “HAWKEYE is excited to be involved in the Golden Triangle of northwestern British Columbia. It provides HAWKEYE with an initial footprint in a significant mining district known for many producing mines (Red Chris, Snip, Johnny Mountain, Eskay Creek, Valley of the Kings), large advanced projects (GJ, Schaft Creek, Galore Creek, KSM) and recently several exciting projects highlighted by GT Gold’s 2017 discoveries. The continuing success of many projects and regional infrastructure development by Federal and British Columbia governments, combined with the increased gold prices will focus renewed exploration activity and the global investment community on mining growth opportunities within the Golden Triangle.
The Company has purchased the Property based on its highly favourable location, similar geology, and structural and geophysical features as a first step to additional strategic and prospective acquisitions in the northern region of the Golden Triangle. The McBride Property occurs within a northwest-trending fault-bounded block exhibiting general geological characteristics of the properties controlled by GT Gold and Colorado Resources. We look forward to implementing our exploration program on the Property.”
The McBride Project
HAWKEYE’s McBride Project is situated in the northeastern corner of the Golden Triangle and situated approximately 12 kilometres north of the Red Chris Cu-Au mine, 10 kilometres east and northeast of the North Rok and Rok occurrences of Colorado Resources, and 18 kilometres east of the Saddle discovery of GT Gold. The McBride claims are located contiguous with and proximal to large exploration properties held by Colorado Resources, GT Gold, Serengeti Resources, and 30-40 kilometres northeast of the Skeena Resources’ GJ and Spectrum projects.
The principal occurrences in the region are hosted within the Hazelton Group and underlying Stuhini Group commonly associated with structural controls and intrusions. The Jurassic-age Hazelton basalt, andesite dacite and rhyolite flows and pyroclastics unconformably overlie either Triassic Stuhini marine sediments and volcanics, or older Paleozoic Devonian to Permian sandstone, siltstone, conglomerate, limestone and marble. Hazelton lithologies are overlain on Thatue Mountain by Upper Jurassic Bowser subaerial to deep marine sediments. Monzonite, diorite to gabbro intrusions of Triassic to Late Jurassic age, and Tertiary volcanics intrude the above packages. Numerous structural breaks with carbonate and silica alteration transect the Hazelton volcanics.
Previous fieldwork in the area included regional mapping by government, and limited traverses during grassroots soil, stream silt and rock sampling programs by exploration companies tied to area plays associated with the nearby Red Chris Cu-Au porphyry project. Copper and gold values typical to porphyry targets were identified and abundant copper staining by malachite was observed in outcrop. Historical reports on Thatue Mountain reported quartz-carbonate pyrite-chalcopyrite veins with up to 2.78% Cu whereas other areas of the Property exhibited showings with quartz-carbonate stockworks with galena, sphalerite, chalcopyrite and pyrite.
The Property acquisition is subject to a $8,000.00 cash payment and the issuance of 100,000 shares and a further 250,000 share issuance should the project proceed to a pre-feasibility study. The acquisition is not subject to an NSR. The Sale and Purchase Agreement between HAWKEYE and the Vendor is subject to TSX approval.
HAWKEYE has a right of first refusal on certain other properties controlled by the Vendor within the Golden Triangle.
Greg Davison, M.Sc., P.Geo., Senior Technical Advisor to HAWKEYE is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Davison has prepared, reviewed and validated that the technical information contained within this release is accurate.
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada and is publicly traded on the TSX Venture Exchange under the trading symbol HAWK and the Frankfurt Exchange under the ticker HGT; ISIN# CA42016R3027 and WKN# A12A61. HAWKEYE’s corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential cash flow and production opportunities with blue sky discovery potential, and to manage our business in an environmentally responsible manner while contributing to the local community and economy.
HAWKEYE GOLD & DIAMOND INC.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes Regarding Forward Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results