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Hawkstone signed acquisition of the historical King Solomon Mine

Figure 1 _ Location, Lone Pine Gold Project, Idaho, USA
Figure 1 _ Location, Lone Pine Gold Project, Idaho, USA

Hawkstone Mining Limited (ASX:HWK) (“Hawkstone” or the “Company”) is pleased to announce it has signed an option to acquire the adjoining historical King Solomon Mine (KSM) from Jervois Mining Ltd. Located 900m southeast of the Lone Pine vein zone, the KSM acquisition will consolidate the Company’s land position and build the exploration potential of the Lone Pine Project.

The proposed acquisition brings with it significant historical data including the results of previous drilling, mapping and sampling. Ongoing compilation of the data has demonstrated the significant potential of the area and its importance in the overall prospectively of the Lone Pine Project.

Figure 2 – Vein, Adits and Sampling

Highlights:

  • Hawkstone has signed an Option Agreement to acquire the historical King Solomon Mine (KSM) from Jervois Mining Ltd 
  • The proposed acquisition consolidates the Company’s land holding in the Lone Pine area, Idaho, USA  
  • KSM was explored during the early 1900’s via 3 adits (no production numbers are available)  
  • Exploration work to date indicates the existence of broad northeast trending, southeast dipping mineralised zone parallel to the Lone Pine Vein Zone
  • In the 1990’s 18 reverse circulation exploration drill holes intersected:
    • 1.5 m @ 14.9 g/t Au  
    • 1.5 m @ 14.8 g/t Au  
    • 18.0 m @ 3.75 g/t Au  
    • 18.0 m @ 2.3 g/t Au  
    • 1.5 m @ 3.9 g/t Au
  • A recently completed photogeological and structural interpretation of the Lone Pine Project highlighted two drill targets within the KSM claims, one of which corresponds to the area of drilling, enhancing the prospectivity of the remaining drill targets
  • Due diligence has commenced which will include mapping and sampling to follow up on the previous high grade surface samples reported at KSM
  • Drilling at the Lone Pine Project is underway with assay results to be reported as they become available

Hawkstone Mining Managing Director, Paul Lloyd, commented: “The proposed Acquisition of the King Solomon Mine from Jervois Mining Ltd increases the Company’s holding of known mineralisation at the Lone Pine Project in Idaho, USA. The ongoing compilation of available data has demonstrated the significance of the acquisition for the Lone Pine Project and suggests that both the Lone Pine and King Solomon mineralised zones may be part of a larger system, which we aim to explore further in the near term.”

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