Metal Hawk (ASX:MHK) has encountered a ‘high’ degree of rare earth element (REE) mineral enrichment in clay and saprolite zones during a maiden aircore (AC) drilling program at its Fraser South Project in Western Australia.
The company says the results, generated by 35 vertical shallow AC holes for 935m, demonstrate REE mineral enrichment up to 4,120 parts per million (ppm) within these zones, which are interpreted to have been formed from the weathering of the REE-bearing granites in the region.
Metal Hawk reports the mineralised intervals also indicate an average of 20.5% magnetic rare earth oxides (MREO) and demonstrate the potential of the project.
The company notes the most ‘significant’ zone of mineralisation is seen in 5 consecutive 400m-spaced holes (FSAC015-19) over a 2km-wide zone of deep weathering across the north-northeast striking REE-bearing Booanya Granite and has been named the Bozwood prospect.
Metal Hawk’s share price more than doubled during Monday’s trading session (26 June 2023) to close at $0.19.
Key results from maiden drilling include hole FSAC016 with 26m @ 1,526ppm TREO from 16m to end-of-hole (EOH), including 8m @ 3,101ppm TREO from 32m; hole FSAC015 with 13m @ 1,202ppm TREO from 36m, including 5m @ 2,298ppm TREO from 44m; and hole FSAC019 with 19m @ 816ppm TREO from 8m, including 3m @ 2,840ppm TREO from 24m to EOH.
This represents the first exploration drilling completed at Fraser South since the tenements were granted, with the work conducted across an ‘extensive’ 15km zone of variably weathered and metamorphosed granites, along the interpreted southern structural extension of the western margin of the Albany-Fraser Belt.
Speaking on the results, Metal Hawk Managing Director Will Belbin says: “We are very pleased to see high grades and excellent thicknesses of REE mineralisation from our maiden drilling program at Fraser South.
“We are very pleased to see high grades and excellent thicknesses of REE mineralisation…”
The initial 35-hole aircore campaign has demonstrated the REE potential of this project. With our very large tenement holding positioned directly over these fertile granites, there is ample opportunity to expand and discover new additional broad zones of mineralisation.”
With the maiden AC drilling program now complete, Metal Hawk announces the next phase of work will involve the collection of single metre ‘high-grade’ mineralised samples to send to the laboratory for further analysis.
Metal Hawk is an ASX-listed Western Australian mineral exploration company focused on the early-stage discovery of gold and nickel sulphides, with a number of quality projects in the Eastern Goldfields and the Albany Fraser regions.
The company’s Fraser South project is located about 150km northeast of the township of Esperance in Western Australia and is considered prospective for nickel, copper, and REE mineralisation.
Write to Adam Drought at Mining.com.au
Images: Metal Hawk Ltd
