Metal Hawk acquires 100% ownership of WA projects
Metal Hawk Limited has announced that it has secured 100% ownership of the Kanowna East, Emu Lake, and Fraser South projects in Western Australia by purchasing IGO Limited’s 51% Joint Venture interest.
This transaction will increase IGO’s shareholding in Metal Hawk from 5.4% to 8.2%.
Metal Hawk will now own all the projects, including the extensive maiden drill program that will begin shortly at Fraser South, targeting early-stage indicators of nickel-copper sulphides and rare-earth elements (REE).
Metal Hawk is preparing for an extensive aircore drilling program at Fraser South, targeting Ni-Cu mineralisation hosted within zones of potential mafic and ultramafic stratigraphy.
The project covers over 40km of strike along the interpreted structural extension of the western margin of the Albany Fraser belt.
Metal Hawk plans to commence drilling in Q2 2023.
The company is also exploring strategic options to divest or joint venture its interest in the Kanowna East and Emu Lake projects.
Metal Hawk’s Kanowna East project area has expanded to over 100km2, and the Emu Lake project is located only 75km from Kalgoorlie and situated along the Gindalbie greenstone belt.
The tenement package at Kanowna East remains relatively underexplored, considering its close proximity to Kalgoorlie and significant gold and nickel sulphide deposits.
The payment for IGO’s 51% interest in the Fraser South, Kanowna East and Emu Lake Projects consists of 2m fully paid MHK shares and 2m MHK options.
MHK has also agreed to grant IGO the Right of First Offer to purchase any ore or concentrate containing nickel group and lithium group minerals produced from the project tenements.
Metal Hawk Limited is a Western Australian mineral exploration company focused on early-stage discovery of gold and nickel sulphides.
Metal Hawk owns a number of quality projects in the Eastern Goldfields, Albany Fraser, and Ashburton regions.
“As we take on 100% ownership of these projects, we are pleased to see IGO increase its shareholding in Metal Hawk.
“Since the MHK-IGO earn-in and joint venture agreement commenced in September 2020, there has been a significant amount of quality work carried out by the IGO team.
“Metal Hawk is now well-positioned to realise the potential of these projects,” said Metal Hawk managing director, Will Belbin.
Falcon Metals Limited has an Earn-in Agreement with Metal Hawk on the Viking Gold Project whereby FAL can earn up to 70% of the Viking Project by spending $2.75 million on exploration over 4.5 years.
Metal Hawk is well-positioned to commence extensive exploration activities at Fraser South, targeting nickel-copper sulphides and rare-earth elements.
With Metal Hawk’s expertise and experience, the projects have the potential to be a game-changer for the company in the Western Australian mineral exploration industry.
