USA Projects

USA Projects

Cactus Latest Announcements:

• 9 January 2025 – Cactus Induced Polarisation Geophysics Enhances Copper Targets, Utah, USA
• 12 December 2024 – Cactus Soil Assays Extend Anomalies, Utah, USA
• 18 November 2024 – Alderan Resources Intersects 8m @ 2.8% Cu within 26m @ 1.3% Cu Confirming potential for a near surface oxide copper deposit at New Years Prospect, Cactus District, Utah, USA

Cactus Copper-Gold Project

Cactus has exploration potential for medium-tonnage high-grade copper-gold deposits. The Cactus district lies approximately 300km south-southwest of Salt Lake City and 20km west of Milford in Utah, USA.  It is located within the larger historical San Francisco mining district which operated intermittently from the late 1800s to around 1970. Hawk’s tenements cover 27km².

Mining History and Geology

The Cactus district operated from the late 1800s to around 1920 and has numerous historical copper-gold mines including Cactus, Comet, New Years, Colburn and Purity.  The Cactus copper-gold-silver mine was the largest operation in the district with reported production of 1.27 million tonnes of ore grading 2.07% copper, 0.33g/t gold and 7.6ppm silver. Its operations post 1908 were severely impacted by a mine collapse above the 500ft level and a legal dispute with the adjacent Comet mine which contributed to its closure in 1920.

The mineralisation in the Cactus district is primarily hosted in tourmaline breccias which occur in quartz monzonite and granodiorite of the Cactus Stock.  The breccias occur along interpreted structures and are thought to result from overpressured zones within a deeper intrusive body. The copper mineralisation is oxidised near the surface and where fresh consists of chalcopyrite with trace bornite at deeper levels.  There is potential for extensions to the known breccia hosted copper deposits and new breccia hosted deposits.  Also, the source of the copper mineralisation in the breccias, which is likely to be a copper mineralised intrusive, has not been identified and remains an exploration target.

Exploration

The Cactus district has been explored intermittently since 1959 by a number of companies including Anaconda (1959-60), Rosario (1963-69), Amax (1971-73), Sepa Resources (1996-2001) and Kennecott (1998-99).  The historical exploration focused on surface mapping, rock sampling and drilling the Cactus and Comet deposits. Hawk executed option agreements with Horn Silver Mines covering the Horn Silver-Accrington district and the more northerly Cactus district in 2015 and 2016 respectively.

The Company carried out aeromagnetic and induced polarisation geophysical surveys plus drilling in the Cactus and Accrington districts.  While Hawk’s drilling results at Cactus were encouraging, the area was optioned to Rio Tinto’s Kennecott Exploration Company (KEX) in late-2019 to explore for large scale porphyry copper deposits.  KEX completed a UAV (drone) magnetic survey, rock sampling, geological mapping and seven diamond drill holes into a number of interpreted porphyry related targets.   KEX hole SAWM0001, drilled into the historical Cactus copper-gold-silver mine, intersected 41m @ 1.9% Cu, 0.62g/t Au within a wider mineralised interval of 74m @ 1.1% Cu, 0.35g/t Au from 252m downhole.  This result is consistent with historical and Hawk Resources post mining drill hole intersections into the Cactus deposit which include:

• 4.9m @ 6.72% Cu within 43.6m @ 1.69% Cu from 207.9m downhole (DDH8; no Au assays, Anaconda)
• 12.2m @ 3.31% Cu within 22.9m @ 2.06% Cu from 1.5m downhole (R14; no Au assays, Rosario)
• 8.0m @ 3.11% Cu, 0.96g/t Au within 32m @ 1.24% Cu, 0.31g/t Au from 61m downhole (ALCA010, Hawk)
• 6.5m @ 3.11% Cu, 0.55g/t Au from 94.3m downhole (ALCA001, Hawk)
• 12.2m @ 2.77% Cu within 25.9m @ 1.62% Cu from 42.7m downhole (R13B; no Au assays, Rosario)
• 22.9m @ 1.84% Cu from 39.6m downhole (R12; no Au assays, Rosario)
• 17m @ 1.41% Cu, 0.41g/t Au within 151m @ 0.36% Cu, 0.08g/t Au from 147m downhole (ALCA002, Hawk)
• 38.4m @ 1.40% Cu from 218.2m downhole (DDH8B; no Au assays, Anaconda)

Following the return of Cactus to Hawk in the second half of 2023, exploration focused on confirming the potential for medium-tonnage high-grade copper-gold deposits.  Work has included 3-D Leapfrog modelling of the Cactus and Comet deposits using historical drill hole data, 3-D inversion modelling of the KEX drone magnetic survey data, re-processing and modelling of induced polarisation (IP) geophysical data, grid soil sampling plus drilling three drill holes into the New Years prospect located 500m northwest of the Cactus deposit.

The key findings from this work include:

• The Cactus and Comet deposits are open at depth with potential for new lenses plus incremental mineralisation on their margins
• Cactus and Comet have coincident reduced to pole magnetic low anomalies. A further twelve similar magnetic low anomalies have been identified in three zones, North, Copperopolis and Sigmoid, throughout the Cactus project area
• Soil sampling on the Cactus grid has highlighted high pXRF grades of copper up to 0.3% on the New Years prospect which extend into the Cactus mine area plus new anomalies to the northwest (N-1) and southwest (N-2) of New Years and the large anomalous area straddling the Copperopolis and Sigmoid zones to the south of Cactus and New Years. All of these anomalies are proximal to magnetic low anomalies and resistivity/chargeability IP geophysical anomalies
• Induced polarisation geophysics has highlighted that Cactus, Comet and New Years have associated resistivity low anomalies.  Resistivity and chargeability anomalies are associated with magnetic and copper soil geochemistry anomalies in the three zones
• At the New Years prospect, Hawk’s 2024 drilling, the first since 1964, verified and extended historical intersections with holes NY2024-DDH-2 and NY2024-DDH3 intersecting 8m @ 1.3% Cu and 4m @ 1.7% Cu within 30m @ 0.78% Cu from 10m downhole and 8m @ 2.8% Cu and 6m @ 1.5% Cu within 26m @ 1.3% Cu from surface respectively. The respective historical (1964) high grade copper mineralised intercepts were 7m @ 2.32% Cuwithin 19.8m @ 1.67% Cu (NY-6) from 22.9m downhole and 10.7m @ 1.52% Cu within 27.4m @ 0.85% Cu from surface (NY-2)

USA GOLD

The Detroit Gold Project

Detroit Latest Announcements:

• 2 November 2022 – Alderan intersects thick gold zones in all Mizpah drill holes
• 30 September 2022 – Alderan intersects thick gold zones from surface at Mizpah
• 25 August 2022 – Alderan completes drilling at Mizpah oxide gold deposit

The Detroit project has potential for intrusive-related gold deposits.  It lies within the Detroit Mining District, 290km southwest of Salt Lake City, and contains numerous historical copper, gold and manganese mines. Hawk controls 21km² of tenements at Detroit through an option agreement with Tamra Mining LLC.

Detroit lies within the east-west trending Tintic igneous belt which has geological similarities to Utah’s Bingham copper-gold-molybdenum mining district further north and the Battle Mountain and Carlin gold and copper mining districts in Nevada which host major gold and copper mines.  Mineralisation styles at Detroit include porphyry copper-gold plus distal disseminated and structurally controlled oxide and primary gold.

Exploration

Mining at Detroit commenced in the 1870s with historical reports indicating production of ~125,000oz gold and 25,000t manganese.

Past exploration for copper and gold in the district has been carried out by Anaconda Copper, Kennecott, Newmont, BHP and Freeport but none of these companies were able to build a contiguous land position to enable district-wide modern exploration. Exploration in the 1960s delineated the thin, low-grade Basin Porphyry chalcocite copper deposit on the eastern margin of the Basin Porphyry complex. The US Geological Survey (USGS) also explored the area, sampling extensive gold mineralised jasperoids.

Hawk’s 2020-22 Detroit exploration included the following:

• Stream sediment, rock and grid soil sampling
• Magnetic and induced polarisation geophysical surveys plus
• Diamond drilling to test district magnetic and IP anomalies
• Diamond drilling focused on verifying gold mineralisation modelled from historical exploration at the Mizpah prospect
• Preliminary cyanide leach gold recovery test work

At Mizpah, Hawk has reviewed and modelled the historical drill data, completed soil sampling and drilled six diamond holes plus 22 reverse circulation (RC) holes into and peripheral to the known deposit.

The key conclusions following completion of Hawk’s exploration are:

• The historically outlined Mizpah oxide gold deposit has exploration potential for 3.0-4.0Mt at a grade of 0.4-0.8g/t gold (40,000-100,000 ounces). This estimate is constrained to the historical drill holes and the deposit remains open
• [It should be noted that this exploration potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource]

• There are high grade oxide gold intersections in historical holes which were drilled to an average depth of only 28m including:
  • 7.6m @ 2.3g/t Au (MZ-104)
  • 10.7m @ 1.9g/t Au (MZ-49)
  • 12.2m @ 1.7g/t Au (MZ-93)
  • 16.8m @ 1.4g/t Au (MZ-87-048)
  • 22.8m @ 1.14g/t Au (MZ-87-052) – last assay 9.1g/t Au
• All holes in Hawk’s 22-hole reverse circulation drilling programme at Mizpah intersected thick near surface gold mineralisation which remains open to the southwest
• Higher-grade zones within Hawk’s gold mineralised intercepts in RC holes include:
  • 7.6m @ 2.2g/t Au within 15.2m @ 1.28g/t Au from 1.5m downhole (3MZRC22-012)
  • 9.1m @ 2.1g/t Au within 42.7m @ 0.76g/t Au from 18.3m downhole (3MZRC22-006)
  • 7.6m @ 1.5g/t Au within 36.6m @ 0.62g/t Au from 4.6m downhole (3MZRC22-005)
  • 7.6m @ 1.4g/t Au within 27.4m @ 0.56g/t Au from 33.5m downhole (3MZRC22-015)
  • 10.7m @ 1.3g/t Au within 32.0m @ 0.55g/t Au from 13.7m downhole (3MZRC22-007)
  • 9.1m @ 1.3g/t Au within 112.8m @ 0.38g/t Au from 22.9m downhole (3MZRC22-014)
  • 7.6m @ 1.3g/t Au within 25.9m @ 0.58g/t Au from 16.8m downhole (3MZRC22-22)

• Gold mineralisation occurs from surface, 15 gold intercepts start from depths of less than 20m and the deepest intercept starts at 55m downhole
• The average length and grade of gold mineralised intersections across all holes is 29.5m and 0.58g/t Au with intercepts ranging from 4.6m to 112.8m in length
• Higher grade mineralised intervals down holes average 8.5m in length and grade 1.2g/t Au with 23g/t Au the highest-grade sample interval (1.5m)
• Depth of oxidation down holes ranges from 3m to 38m with gold mineralisation occurring in oxide, mixed oxide-sulphide and sulphide zones
• The gold mineralised system could be significantly larger than drill holes indicate. Hawk’s peripheral holes DD20M-006 (83m @ 0.41g/t Au) and 3DD22-001 (69m @ 0.18g/t Au), are located 150m and 350m to the west respectively
• First pass cyanide leach gold recoveries for Mizpah reverse circulation drill hole samples averaged 66% for oxide mineralisation. Gold recoveries for mixed oxide-sulphide mineralisation varied from 9-39% and were low order for the sulphide zone

Hawk soil sampling at Detroit aimed to identify new prospects along the favourable Mizpah host stratigraphy. It identified the Basin Main and Midway anomalies which remain to be tested.  The Basin Main anomaly which lies approximately 800m north of Mizpah has the highest-grade gold with assays up to 0.32g/t while the Midway anomaly, located to the south of Mizpah, has gold grades up to 0.21g/t Au.  For comparative purposes the highest gold in soil grade at Mizpah where gold mineralisation has been intersected in drilling from surface is 0.26g/t Au.

Additional targets at Detroit include the Basin Complex Chargeability Stem and Skarn geophysical anomalies which have been highlighted by IP and magnetic geophysical surveys over the Basin Porphyry Complex.