HAWKEYE owns a 100% interest in the 1,342-hectare Railway Project situated approximately 14 kilometres east-northeast of the Village of Iskut, BC, Canada. The Property is located in the northeastern corner of the BC 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, and 18 kilometres east of the Newmont (GT Gold) copper and gold rich Saddle discovery which Newmont recently announced it would pay C$393 million to purchase GT Gold’s Tatogga property.
Mr. Greg Neeld, President & CEO states, “Acquisition of the Railway property significantly increases the size of HAWKEYE’s land package in the BC Golden Triangle which is 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 Newmont’s announcement it would pay C$393 million to purchase GT Gold’s Tatogga property. The Company has purchased the Property based on its favourable location, locally anomalous stream and soil geochemistry, regional geological features and its similar geology to the Company’s McBride property which is contiguous to the southern border of the Railway property.”
The Railway Project
HAWKEYE quietly acquired the Railway property during late 2019 due to its southeastern border being contiguous to the promising northern IP chargeability target located on the northwest border of the McBride property which was not drilled in 2019 due to the onset of severe weather conditions. The Railway acquisition extends the target area through the undrilled northern chargeability anomaly over the McBride from 1 kilometre to 3 kilometres on a northwest direction to Thatue Mountain located on the Railway property. Along this belt there are known mineralized porphyry and breccia mineral occurrences where Cu values of 9.35%, Ag up to 57 g/t, Au 0.32 g/t and 0.154 g/t Pt have been reported.
The Railway property occurs within the Stikinia Terrane and primarily lies within the Jurassic-age Hazelton Group calc-alkaline volcanics. The Jurassic-age Hazelton
basalt, andesite, dacite and rhyolite flows and pyroclastics unconformably overlie the 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 argillic, phyllic and propylitic alteration envelopes.