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 Todagin Project (the “Property”) to acquire a 100% interest in the 3,608-hectare Property transected by Highway 37 and situated approximately 20 kilometres south of the Village of Iskut, BC, Canada. The Property is located east of the Kanaskin Lake contiguous to the western boundary of the Red Chris Mine (Imperial Metals) and the southeastern boundary of GT Gold.
The Property occurs in the Stikinia Terrane within Triassic to Jurassic-age Stuhini and Hazelton Group volcanoclastic rocks and is located only 16 kilometres south 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 keen to grow its portfolio in the Golden Triangle of northwestern British Columbia. It provides HAWKEYE with properties covering more than 82 square kilometres in a significant mining district known for many producing mines (e.g., Red Chris, Snip, Johnny Mountain, Eskay Creek, Valley of the Kings), large advanced projects (e.g., GJ, Schaft Creek, Galore Creek, KSM) and recently, several exciting projects highlighted by GT Gold’s 2017 discoveries. We believe our second acquisition in the Golden Triangle will create further opportunity to create shareholder value through investment, exploration and discovery.
The Company has purchased the Property based on its favourable location, locally anomalous stream and soil geochemistry, and regional geological features as its next step to additional strategic and prospective acquisitions in the northern region of the Golden Triangle. We look ahead to performing our exploration program on the Property.”
The Todagin Project
HAWKEYE’s Todagin Project is situated in the northeastern corner of the Golden Triangle and positioned approximately 18 kilometres southwest of the Red Chris Cu-Au mine, 15 kilometres southwest of the North Rok occurrence of Colorado Resources, and 16 kilometres south of the Saddle discovery of GT Gold. The Todagin claims are located contiguous with the Red Chris Mine property and large exploration properties held by GT Gold, and only 12 kilometres east of the Skeena Resources’ GJ project.
Similar to the properties of GT Gold and Colorado Resources, the principal geological units in the region comprise the Hazelton Group and underlying Stuhini Group with precious and base metal mineralization commonly associated with structural controls within and adjacent to intrusions. The Jurassic-age Hazelton basalt, andesite, dacite and rhyolite flows and pyroclastics unconformably overlie Triassic Stuhini volcanics and volcanoclastic deposits. Both Stuhini and Hazelton lithologies are overlain to the south by Upper Jurassic Bowser subaerial to deep marine sediments. Monzonite, diorite to gabbro intrusions of Triassic to Late Jurassic age intrude the above packages. Carbonate, limonite, sericite, clay and silica alteration affect the volcanic lithologies.
Previous fieldwork in the area included regional mapping and drainage geochemical surveys by government, and reconnaissance soil, stream silt and rock sampling programs by exploration companies focused on district scale Cu-Au porphyry targets. The results identified anomalous base and precious metals associated with weakly developed argillic, phyllic and propylitic alteration envelopes.
Agreement Details
The Property acquisition is subject to a $7,000.00 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.
Qualified Person
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.
About HAWKEYE
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.
Greg Neeld
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