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Hawkmoon assays 3.0 metres at 11.25 grams per tonne gold with grades up to 30.9 grams per tonne on the Wilson property, situated in Quebec’s Abitibi Greenstone Belt

Hawkmoon Resources Corp. (CSE:HM; FSE:966) (“Hawkmoon” or the “Company”) has received additional assay results for…

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This article was originally published by Resource World

Hawkmoon Resources Corp. (CSE:HM; FSE:966) (“Hawkmoon” or the “Company”) has received additional assay results for eight (8) drill holes (the “Holes”) from its 5,031 metre summer drill program on the Wilson Gold Project (“Wilson” or the “Property”). The Property is situated approximately 15 kilometres east of the town of Lebel-sur-Quévillon, Québec and 170 kilometres northeast of the city of Val-d’Or.

Highlights of the Eight Drill Holes Disclosed in this News Release

  • Eight drill holes are covered by this news release including receiving assays up to 30.9 grams per tonne gold at the Toussaint Showing (“Toussaint”);
  • High grade samples are associated with local visible gold in core;
  • Assay results are pending for another fourteen Holes drilled between the Toussaint and east of the Midrim Showing (“Midrim”) this past summer.

The highest gold values were 30.9 grams per tonne (“g/t”) in Hole HMW 21-08 and 22.70 g/t in Hole HMW 21-13. Refer to table 1 below, which highlights certain gold assays received to date. The results represent down-hole lengths and not necessarily true widths. The Company also awaits the metallic sieve fraction for one sample in each of Holes HMW 21-08 and HMW 21-13. This may or may not adjust the two highest grade gold intercepts, as coarse gold can be present in the general area.

Table 1: Highlights of Gold Assays Received for Wilson

Mineralization Style

All the Holes intercepted Toussaint mineralization (the “Mineralization”). This Mineralization is generally a beige to pale grey coloured volcanic tuff which has been foliated, sheared and strongly altered. Alteration is dominated by silica, sericite and calcite. Ankerite and chlorite alteration are present to a lesser degree. The Mineralization often displays a striped appearance due to abundant parallel laminations. Mineralization is present as pyrite, chalcopyrite and locally as visible gold. Quartz veins as well as veinlets of sulphide minerals are parallel or sub parallel to the foliation.

Summary of the Holes Disclosed in this News Release

The Holes were completed around the Toussaint. Holes HMW 21-03 and HMW 21-04 were drilled on the western side of the Toussaint. Holes HMW 21-07 and HMW 21-08 were drilled in the forest to the north of the Toussaint. Holes HMW 21-10 to 21-13 were drilled on the eastern portions of the Toussaint. Hole HMW 21-14 targeted an induced polarity (“IP”) anomaly to the east of the Toussaint. A map showing the location of the drill holes are outlined in figure 1. Results from the drill holes in red are disclosed in this news release.

Branden Haynes, President of Hawkmoon, states “We are all enthused to keep receiving positive gold results from our summer drill program on the Wilson project. We now have received assays for half the drill holes we completed on Wilson. Hawkmoon looks forward to receiving the results from the other fifteen holes in the upcoming weeks.”

Figure 1: Map of drill holes disclosed in this news release

About Hawkmoon Resources

Hawkmoon is focused entirely on its three Quebec gold projects. Two of these projects are in one of the world’s largest gold deposits, the Abitibi Greenstone Belt. Both these gold projects are accessed by government-maintained roads and are in close proximity to each other east of the town of Lebel sur Quévillon. The third project is situated in the Belleterre Gold Camp southwest of Val-d’Or.

Qualified Person

The technical information in this news release has been reviewed and approved by Thomas Clarke P.Geo., Pr.Sci.Nat. Mr. Clarke is a “Qualified Person” under NI 43-101 and is a Director and the Vice President Exploration of Hawkmoon.

HAWKMOON RESOURCES CORP.,

ON BEHALF OF THE BOARD

“Branden Haynes”

Branden Haynes, Chief Executive Officer

Forward Looking Statements

This news release contains certain forward-looking statements. The use of the word “expected”, “projected”, “pursuing”, “plans” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this news release include statements regarding: the Company’s drill program at the Wilson property; receiving assay results for the fourteen additional holes and receiving the metallic sieve fraction for one sample in each of Holes HMW 21-08 and HMW 21-13. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

For more information, please contact Branden Haynes, Chief Executive Officer and Director, Email: [email protected];  Telephone: 604-817-1595




Author: Resource World

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Precious Metals

Oil higher, gold above $1,800, bitcoin slides

Oil rally lacking momentum, again Oil prices are on the rise again at the end of the week, with Brent and WTI adding around 1% on Friday. This comes a…

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Oil rally lacking momentum, again

Oil prices are on the rise again at the end of the week, with Brent and WTI adding around 1% on Friday. This comes a day after they pulled back off their highs as profit-taking appeared to kick in around $86 and $84, respectively. It’s still early days but this rally appears to be suffering the same problems as the last couple, a lack of momentum.

That doesn’t really change the medium-term outlook for oil prices, which remains fundamentally bullish, but perhaps we will see a slightly larger pullback over the next week or so.  If we do, key support for Brent lies around $80-81, if $83.50 falls. Should momentum pick up with any rallies, we could see $90 oil soon enough.

Gold holding above $1,800

Gold prices have rallied above $1,800 and appear to be holding firm after as we’ve moved into the US session. The US PMIs appear to have boosted sentiment early on which has weighed on the dollar and given gold a kick through that big resistance level. If it can hold onto the $1,800 handle at the end of the week, it would be a bullish signal.

If that coincides with the dollar index breaking below 93.50 which could see the pressure build back towards 93 early next week, it would be even more bullish for the yellow metal which seems to be benefiting from central bank tightening ambitions outside of the US. The next big test for gold is $1,833, a level that’s had the better of it on a number of occasions the last few months.

Buy the rumour, eventually sell the fact

We may well be seeing the fact being sold after all, with bitcoin prices falling 5% on Thursday and adding to those losses today. The launch of the ETF generated plenty of excitement in the space in the hope that it could lead to another hype surge as institutional money pours in.

It appeared that it was holding onto those gains shortly after the launch but perhaps we’re seeing some profits being locked in which may weigh on cryptos in the near term, especially if $60,000 falls. The launch of the CME futures triggered a “sell the fact” reaction four years ago and we’re probably seeing that again. Of course, that turned into a far more serious price crash, something that will probably be avoided this time around. Although when it comes to bitcoin, you never know.




Author: Craig Erlam

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Precious Metals

Getchell Gold’s drilling @ Fondaway Canyon suggests larger mineralized system than previously thought

2021.10.22
Getchell Gold (CSE: GTCH) (OTCQB: GGLDF) is spending the rest of the year in the field at its flagship Fondaway Canyon gold project, as drilling…

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2021.10.22

Getchell Gold (CSE: GTCH) (OTCQB: GGLDF) is spending the rest of the year in the field at its flagship Fondaway Canyon gold project, as drilling there continues to verify the geological model that the company has set out to prove.

With three holes left to report from the 4,000-meter drill program that started in June, and two more to complete, Getchell is poised to update the resource next year with new ounces added from drill campaigns over the past two years including three new zones discovered last year and expanded upon in 2021: Juniper, Colorado SW and North Fork.

“The Fondaway Canyon Gold Project is a brilliant example of drilling success, as evidenced by the 2020 and ongoing 2021 drill programs that have reported substantive and additive gold mineralization which remains open in nearly all directions. The near-term objective is to continue to expand and define the gold mineralization at Fondaway and maximize the inherent value upon which we will be starting from next year,” Getchell’s President Mike Sieb stated in the Oct. 20 news release.

Fondaway Canyon

Acquired by Getchell early in 2020, Fondaway Canyon is an advanced-stage gold project comprising 170 unpatented lode claims located in Churchill County, Nevada.

Fondaway Canyon and other Getchell properties in Nevada

The property has been the subject of multiple exploration campaigns dating back to the late 1980s and early ‘90s, with nearly 50,000 meters of drilling completed.

It covers 12 known veins, including five mineralized areas — Colorado, Halfmoon, Paperweight, Silica Ridge and Hamburger Hill.

The latest technical report on Fondaway Canyon (2017) gave an estimate of 409,000 oz indicated gold resources grading 6.18 g/t Au and 660,000 oz inferred grading 6.4 g/t Au — for a combined 1.1 million oz.

Up to 80% of these ounces are within Colorado, Paperweight and Halfmoon, with the remainder found in parallel veins or splays off the main veins.

Mineralization at Fondaway Canyon is contained in a series of steeply dipping en-echelon quartz-sulfide shears outcropping at surface and extending laterally over 1,200 meters, with drill-proven depth extensions to greater than 400 meters.

2020 drilling

In an exclusive talk with AOTH, Sieb recalled how 2020 drilling was “the culmination of a lot of desktop work” wherein a detailed analysis of the historical drill data revealed that the mineralized system was larger than previously thought.

How did they arrive at that conclusion?

“In the sea of [~735] drill holes we inherited, a significant portion of that drilling was focused on certain historic occurrences and deposits,” Sieb told me over the phone, Wednesday.

“In 2002 and 2017 they started to test a little deeper so for example the Central Area encompassing an approximately 1 km x 1 km area, there was a handful of these drill holes that if you aligned them with the geology you could actually draw a line from one dot to another dot, across half a kilometer, and they lined up. Of course, that’s only two points but when you start to take into account the entire picture and those disparate intercepts that didn’t quite align with the historical thought process, and you drew new lines, you thought aha! If you redesign the geological model they all potentially line up. That’s how we arrived at the new 3D model. We picked the intervening areas between these widely spaced dots and we said, ‘there’s absolutely no drilling here, this is where we think the mineralization should be.’”

The drill program they came up with was designed to test the “more expansive mineralization” thesis with a set of widely spaced holes.

Drilling by Getchell in 2020 identified the presence of a thick zone of gold mineralization, interpreted as a down-dip continuation of surface mineralization, and high-grade mineralized structures with notable widths.

Six holes totalling nearly 2,000 meters were drilled as part of that program, five of which intersected significant gold intercepts within the Central Area, considered to be the “nexus for the gold-mineralizing system” observed at Fondaway. The target area represents a 1,000 x 700m highly mineralized NE-SW extensional zone within the central portion of the 3.5 km long Fondaway Canyon gold-mineralized corridor (see below).

Fondaway Canyon plan map showing gold-mineralized corridor

“All five of [the step-out drill holes] hit quite substantive intersections where they demonstrated that the mineralized system was 100-meters thick in places so that’s how we finished 2020,” Sieb summarized last year’s drill program.

2021 drilling

Following up on their success, the company is putting the finishing touches on a 2021 drill program twice the size — 4,000m.

The program’s goal was to do sufficient infill drilling to confirm the new geological model, thus elevating the resource estimate beyond the current 1.1Moz. Getchell is also continuing to step out from known gold intercepts to expand the geological model.

“We’ve been proving the continuity amongst the drilling as well as continuing to expand upon our discoveries in 2020, so every drill hole is adding to the picture and that was the objective in 2021 — to truly understand and interpret the orientation of the geological as well as the mineralization model,” Sieb said during our talk.

A key finding is a better understanding of the three new zones discovered during the 2020 drill program.

The Juniper Zone looks to be a high-grade, thick swath of near-surface mineralization that is open in most directions. The best intercept from 2020 was 4.7 grams per tonne gold over 25.9m, including 11.4 g/t Au over 5.5, within 100m of surface.

The Colorado SW and North Fork zones run directly underneath the canyon floor and down-dip gently for about 800 meters. So far they remain open on strike and at depth. “Some of the furthest holes on that trend, the mineralization does not appear to be weakening,” says Sieb. “That’s a key attribute, as we drill we haven’t determined the extent of it yet.”

A discussion of 2021 drilling would be incomplete without a mention of hole FC21-08, the best so far at Fondaway Canyon.

Hole 8 is the seventh consecutive hole drilled into the Central Area to hit substantive gold mineralization. “It produced one of the best cumulative gold intercepts on the property, in an area that was not infill drilling but extending the mineralization. That is extremely significant,” Sieb told me.

The hole intersected the Colorado SW zone for over 200 meters, with mineralized intervals that included 4.2 g/t Au over 27.5m, 2.8 g/t Au over 24.5m, 1.4 g/t over 30.7m and 1.3 g/t Au over 16.8m.

It also pierced the Juniper Zone, returning 4.7 g/t Au over 25.9m, including 11.4 g/t Au over 5.5m, within 100 meters of surface.

Hole 8 is the most northwesterly of those drilled in the area, meaning the zone remains open to the NW.

Hole 9 tracked along the upper limits of the North Fork Zone and reported several mineralized intervals, including 1.3 g/t Au over 13.1m and 4.1 g/t Au over 5.4m. A broad section of gold mineralization grading 1.2 g/t Au over 32.6m was found at a higher elevation than projected.

Colorado SW Zone highlighting 2020-21 drilling
North Fork Zone highlighting 2020-21 drilling

As previously stated there are assays pending from three holes on three extremely promising targets.

Hole 10 tested the North Fork Zone up-dip from hole 9; the zone remains open in most directions and warrants follow-up. Sieb said a drill is likely to be stationed there next year, to further delineate the mineralized body.

Hole 11 targeted the Colorado SW and Juniper zones with a down-dip step-out of hole 8’s impressive gold intercepts.

Finally, hole 12 is a down-dip step-out of hole 5’s substantive intercept grading 1.8 g/t Au over 90m, including a higher-grade core of 3 g/t Au over 35m.

Hole 13 is currently being drilled into the Colorado SW Zone, where Getchell is hoping to confirm the continuity of the mineralization to surface. Drilling there will continue as long as weather conditions allow, at which point the crew will move out of the canyon and mobilize to the pediment area, another exciting drill target.

Visualize the pediment as a flat plain, the Carson Sink, that fronts the hills and valleys where the rest of the targets are dotted throughout. Underlying the plain is about 25 meters of alluvial (gravel-bed) cover, making for easy overburden removal. 

In 2002, two holes drilled 180m apart, in the pediment west of the South Mouth pit, each pulled up significant mineralization — one hole had 0.74 grams per tonne gold over 30 meters; the other was 0.6 g/t Au. While those grades aren’t enough to energize gold investors, there is a possibility that the deposits found in the mountains are just the “smoke” from a major gold system that originates underneath the pediment.

In 2020 Getchell tried to revisit the area, however the drill hole encountered a fault right before the target zone and had to be abandoned. That’s unfortunate, because according to Sieb, “the gold values were ticking up right before the drill hole failed. That was very similar to the mineralization that we saw in the 2002 drill holes so there’s every indication that the Pediment Target zone is there, we just didn’t penetrate it.”

“This planned last drill hole [of 2021] testing the Pediment Target zone is going to be quite telling.” Sieb notes the pediment area “is completely untested” apart from the two holes in 2002 that hit Carlin-style mineralization, referring to the disseminated gold common in Nevada. “It’s potentially a whole new target area.”

Having solidified the mineralization model that is expected to allow Getchell to undertake a new resource estimate, next year the company is moving forward with “a more aggressive, bigger and better program,” according to Sieb. Two drills are expected to be turning 24/7 “to really attack the area”.

“Fondaway Canyon really warrants a major drill program and a major usage of funds to continue to expand and basically tell the world how good the project is,” he said.

Conclusion

Having covered Getchell Gold since early 2020, I have watched the company develop a new geological model for the project and then go about steadily proving it. The exciting thing about Fondaway Canyon is the system just keeps getting bigger and bigger with every hole, and there appears to be, so far at least, no limitations on the extent of it, in the Central Area that has been the focus of Getchell’s drilling. Step-out and infill drilling continue to hit solid gold values. Hole 8 was the seventh consecutive hole to hit substantive mineralization, and in fact was the best hole drilled to date at the Colorado SW Zone and one of the best cumulative gold intercepts on the property.

As a testament to Getchell’s success at the drill-bit, consider: the company has only drilled 13 holes since acquiring the property in early 2020, yet every hole but one has come up with the goods. That’s impressive. It shows a very strong aptitude for drill targeting especially considering that GTCH started out with a data base of over 700 historical drill holes from which they had to “separate the wheat from the chaff.”

And they’re not finished yet. The three holes left to report, along with hole 13 underway and the hole still to be drilled into the pediment, promise a continuation of news flow through to the end of the year and into 2022, allowing Getchell to build on the momentum it has managed to generate in 2021 with a string of successful assay results.

I know it’s too early to say, but I’m going to go out on a limb and predict that when Getchell updates the resource estimate at Fondaway Canyon, it will be significantly higher than the existing 1.1 million-ounce resource, which encapsulated the high-grade areas but not the lower-grade lenses enveloping the mineralization. It also does not include data from 2017 and it does not include the two successful drill campaigns completed by GTCH, that are expected to add significant ounces.

The last word on Getchell for the moment, until we get the next set of assays, goes to Mike Sieb, who stated: “At the end of this year it’s not just ourselves that’ll know where this project is going, everybody will. There’s going to be more eyes on the project and the company, and that’s going to be beneficial to ourselves and our shareholders. We’re setting it up in such a way that the news flow’s going to be continuous, over the cusp of this year and into next year, until we can then launch a bigger and better drill campaign to of course make a bigger and better story for Fondaway Canyon and Getchell.”

Getchell Gold
CSE:GTCH, OTCQB:GGLDF
Cdn$0.53, 2021.10.21
Shares Outstanding 74m
Market cap Cdn$44.5m
GTCH website

Richard (Rick) Mills
aheadoftheherd.com
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Author: Gail Mills

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Economics

TSX in green as IT & industrials gain, commodities down

On Thursday October 21 the TSX Composite Index grew for the 12th consecutive day of trading increasing by 24 20 points to 21 212 39 an increase of…

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On Thursday, October 21, the TSX Composite Index grew for the 12th consecutive day of trading, increasing by 24.20 points to 21,212.39, an increase of 0.11 per cent. The index has a YTD return of 21.68 per cent and a one-year return of 30.3 per cent.

Thursday saw the IT and industrial sectors both grow 1.2 per cent. Base metals, however, fell 2.9 per cent.

One-year price chart (October 21). Analysis by Kalkine Group

Volume active

The most traded stock was Suncor Energy Inc with seven million shares exchanging hands. It was followed by Baytex Energy Corp where 5.68 million shares exchanged hands, and Cenovus Energy Inc with 4.7 million shares exchanging hands.

Movers and laggards

Wall Street update

The TSX Composite Index isn’t the only one currently in the all-time high club. It was joined Thursday by the S&P 500 gained 0.3 per cent or 13.59 points to reach its all-time high of 4,549.78. The major indices fell on market open and stayed low but rallied from late afternoon toward close.

The Dow fell 6.26 points or 0.02 per cent to 35,603.08 points and the Nasdaq was up 94.02 points or 0.62 per cent to 15,215.70 points.

Commodity update

Gold fell 0.17 per cent and traded at US$ 1,781.90. Brent oil fell 1.41 per cent to US$ 84.61/bbl, while crude oil gained 1.63 per cent to US$ 82.50/bbl.

Currency news

The loonie fell against the US dollar on October 21, while USD/CAD ended in the green at 1.2364, up 0.37 per cent.

The US Dollar Index was better off against the basket of major currencies Thursday and ended at 93.74, up 0.19 per cent.

Money market

Thursday’s trade saw the US 10-year bond yield grow 2.14 per cent and end at 1.696.

The Canada 10-year bond yield grew 3.9 per cent on October 21 and ended at 1.706.






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