Metal Hawk's Exploration Advances at Siberian Tiger Gold Prospect
MHK (MHK) Share Update September 2024 Tuesday 17th
Metal Hawk Completes UAV Magnetic Survey at Leinster South
Metal Hawk Limited (ASX: MHK) has announced the completion of a high-resolution UAV magnetic survey at its Leinster South project, marking significant progress in their exploration efforts at the Siberian Tiger gold prospect.
Instant Summary:
- Completion of UAV magnetic survey over Leinster South.
- New rock chip gold results extend surface footprint and strike potential of Siberian Tiger.
- 177 additional rock chip samples submitted for gold analysis.
- Heritage negotiations and drilling approvals are progressing.
Survey Completion and Initial Findings
Metal Hawk Limited has successfully completed a high-resolution UAV magnetic survey over the majority of its Leinster South tenement, which includes the promising Siberian Tiger gold prospect. This survey is a significant step forward in their exploration efforts, providing detailed geophysical data that will assist in drill targeting.
The UAV survey covered prospective stratigraphy along the eastern limb of the Lawlers Anticline. The data collected is already aiding the company's geological and structural interpretation, which is crucial for the upcoming maiden campaign of RC drilling at Leinster South.
New Rock Chip Results
Recent rock chip sampling at the Siberian Tiger prospect has identified high-grade gold in quartz veining. These new results extend the surface footprint and strike potential of the prospect, indicating a larger area of interest than previously thought. The company has submitted an additional 177 rock chip samples from new prospect areas for gold analysis, with results expected in 3-4 weeks.
Ongoing Exploration and Approvals
Further mapping and geochemical sampling are ongoing, with the aim of identifying new drill targets. The company is also progressing heritage negotiations and drilling approvals, which are critical steps before commencing drilling operations.
Metal Hawk's Managing Director, Will Belbin, expressed optimism about the survey results, stating, 'The level of detail shown from the geophysical drone survey is excellent. The data clearly maps out the prospective southeastern trending stratigraphy along strike from Siberian Tiger and also highlights a number of key structural features.'
The completion of the UAV magnetic survey and the new rock chip results are positive developments for Metal Hawk. These findings could potentially increase the company's stock value as they indicate a larger and more promising exploration area. The ongoing heritage negotiations and drilling approvals are also critical milestones that, once achieved, could further boost investor confidence.
Investor Reaction:
Analysts are likely to react positively to the detailed geophysical data and the high-grade gold findings. The market may see this as a strong indicator of the project's potential, leading to increased interest and investment in Metal Hawk's stock.
Conclusion:
Investors should keep an eye on the upcoming assay results from the additional rock chip samples and the progress of heritage negotiations and drilling approvals. These developments will be crucial in determining the future potential of the Siberian Tiger gold prospect and Metal Hawk's overall exploration success.