July 28, 2022
News Release No. 381 - 2022
TSX Venture Exchange: HAWK
Frankfurt Exchange: HGT
HAWKEYE MOBILIZES FOR EXPLORATION ACTIVITIES AT ITS SELLER CREEK AND 2 ACES WEST PROPERTIES – BARKERVILLE, BC
Vancouver, British Columbia, Canada – HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSX.V-HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): is pleased to announce the start of field exploration over its 100% owned Seller Creek, Cariboo Valley and 2 Aces West properties, building on results gathered during the first phase of exploration work performed during September and October 2021 (the “2021 work program” or “Exploration Program”). These contiguous properties cover approximately 10,861.17 hectares (the “Properties”) and are strategically located 28 kilometres (“km”) southeast of the Town of Barkerville in the prolific Barkerville / Cariboo gold camp in central British Columbia (“BC”), Canada. The Properties lie within the southeasterly-striking Snowshoe Group of the Barkerville Terrane which has been a focus for major historical and recent exploration and mining.
2022 Work Programs
The 2022 work program is being guided by Phase 1 ground work completed in September – October 2021, compilations of historical data associated with existing mineral files, regional trends and geophysical targets identified through Hawkeye’s 2018 airborne geophysical survey by Geotech Ltd. (“Geotech”), and a leading geophysical consulting firm who processed the raw data and completed an overall interpretation including 3D inversion analysis.
The program at Seller Creek will focus on two primary target areas:
- Goose Range Anticline: Mapping and sampling in 2021 identified an anticlinal fold in the Goose Range of mountains. The axis of this structure was traced for 1.9km during the 2021 field activities and nine of the 45 rock samples were collected along the axis returning anomalous zinc values between 30 and 383 parts per million (“ppm”). 2022 work will include traverses to extend the strike and to identify further geochemical anomalies.
- Seller Creek Showing: A post-season literature review unearthed a mineral showing not recorded in the Provincial “Minfile” database. The Seller Creek showing identified in the late 1990’s was discussed in a summary paper reassessing the area for mineral potential (Ferri, 2001), and is described as “disseminated chalcopyrite, galena and sphalerite within a quartz sandstone immediately adjacent to a white and grey banded marble and can be traced for several hundred metres”. Reported grab sample grades from outcrop are 0.39% copper, 0.19% lead and 0.1% zinc. The location of this showing is coincident with a distinct magnetic “high” as reported by Geotech.
Reconnaissance mapping of the entire property is planned to assess potential offset mineralization in the fold axis and any other sites that are deemed of interest during the field program.
Figure 1: Goose Range Anticline (1) results from the 2021 traverse, Seller Creek showing (2) and offset exploration targets (3).
2 Aces West
The 2 Aces West project work will be focused on exploration and sampling of rocks along the faulted contact of the Lower Harvey’s Ridge and Downey Successions. To the northwest of the project area, several mineral showings and historical workings for lead, silver, and gold trend along the same contact.
Samples collected in 2021 returned weakly anomalous results for lead and zinc collected from pyrite-bearing quartz veins from the rocks along the contact. Although at an early stage, these new anomalies align with known mineral showings. Additional work in 2022 will focus on definition of the trend and allow additional time for regional mapping and sampling.
Figure 2: 2021 traverses on 2 Aces West property along geological contact, along strike with lead-zinc and gold mineral showings.
Work at Cariboo Valley will consist mainly of road-side mapping through existing infrastructure and new forestry roads to assess the underlying geology and its mineral potential.
The Company has now mobilized its geological teams onto the Properties to follow up on our initial results. Work in 2021 was limited to roads and other accessible areas due to the early onset of winter weather conditions. The early commencement of the 2022 program will allow for thorough exploration of the principal targets and evaluate potential for further discoveries.
Message from the President
Mr. Greg Neeld, President & CEO of Hawkeye states, “With the recent sale of Hawkeye’s four Golden Triangle Properties to Newcrest Mining, Hawkeye is excited to redirect its energies towards the exploration and development of its 2 Aces East, 2 Aces West, Cariboo Valley, Seller Creek, Keithley Creek and Swift River properties all located in the prolific Barkerville / Cariboo gold camp in central British Columbia and the Bonanza high grade copper property on Vancouver Island. The Company is also pleased about the verification and discovery of copper, cobalt, nickel, and zinc mineralization over the Barkerville properties. These critical metals are becoming more important to the world and future demand for Battery Metals are expected to significantly increase as the world transitions to the emerging Electric Vehicle market and Green Energy electrification of the planet. We look forward to announcing our results for the Keithley Creek and Swift River properties in short order and to commencing the Company’s 2022 work programs.”
Barkerville was the centre of the historic Cariboo gold rush starting in 1860. The recorded production estimate from 1861-1987 reported more than 5,000,000 ounces of gold which included 3,800,000 ounces from placer operations and 1,230,000 ounces from lode mining. Hawkeye’s six (6) Barkerville Properties are either contiguous or near the southern boundary of the Osisko Development’s Cariboo Gold Project. Osisko Development recently announced a measured and indicated resource of 3.2 million ounces gold at 4.6 g/t and an inferred resource of 2.7 million ounces of gold at 3.9 g/t for their project. The author cautions the reader that proximity to resources are not an indication of expected results from these properties but to be used as a guide only.
Andy Randell, P.Geo., 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. Randell 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 (BC), Canada. The Company owns 100% interests in six precious and base and battery metals properties in the world-class Barkerville gold camp situated in the historic Cariboo Mining District of central BC and a 100% interest in a high-grade copper property on Vancouver Island, BC. Consistent with Hawkeye’s vision to develop a prospect and royalty generator component for the Company, and subsequent to the sale of its McBride, Railway, Boomerang and Todagin properties to Newcrest Mining, Hawkeye owns a 2% net smelter royalty on each of these four copper, gold, silver, platinum and zinc properties located in the prolific Golden Triangle of northwest BC which are subject to buy-down provisions. HAWKEYE’s corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential opportunities with discovery potential, and to manage its 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