Gold Hawk Intercepts 25 Feet of 4.63% Copper, 1.25 opt Silver at Oracle Ridge
Published : May 12, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2011) - Gold Hawk Resources Inc. (News - Market indicators) ("Gold Hawk" or the "Company") is pleased to announce that the assay results of its core drilling program at the Company's Oracle Ridge Copper Mine confirm the high-grade nature of the copper deposit. Assays have been received for seven of the holes drilled to date with more assays expected in the near future. Assay data for the seven drill holes are presented in the table below.

The confirmation drill program at the Oracle Ridge Copper Mine is advancing on schedule with approximately 10 holes completed at this time. Gold Hawk is taking the necessary time to analyze for a full suite of elements and have identified silver and iron as two likely byproducts that could provide additional positive project economic value. More detailed evaluation of this potential will be conducted as the project progresses.

Hole From To Interval %Cu %Fe Ag oz/ton Zone
2011-016 347 384.5 37.5 2.24 17.21 0.54 1 & 2
Includes 367 372 5 5.36 22.96 1.26
2011-039 553 603 50 2.44 16.18 0.55 4
Includes 558 563 5 7.90 9.12 0.69
2011-043 248 278 30 1.30 17.30 0.45 3
and 298 308 10 2.15 10.43 0.83
2011-051 298 305 7 1.94 6.61 0.43 1 & 2
and 346 371 25 4.63 12.96 1.25
Includes 351 361 10 7.75 14.39 2.07
2011-071 573 596.5 23.5 1.80 1.24 0.44 1 & 2
and 620.5 655.5 35 2.00 8.40 0.54
Includes 648 655.5 7.5 3.70 11.84 1.08
and 718 738 20 1.62 9.09 0.38
and 768 803 35 1.86 6.82 0.54
and 843 863 20 2.83 12.57 0.48
Includes 853 858 5 4.53 14.45 0.51
2011-74 Low Grade           5
2011-135 723 728 5 1.31 2.58 0.49 5
and 748 753 5 1.22 2.13 0.69

Intervals were calculated using an external 1% copper cut-off. Intervals labeled "Includes" are higher-grade portions of the previous listed interval. True thickness is believed to be between 80-to-100% of the reported thicknesses. Analyses for copper, silver and iron were completed by Skyline Labs of Tucson, Arizona on ½ core splits using standard industry accepted techniques.

For an overview of the historic copper skarn mineralization zones, see the Company's website: Oracle Ridge Copper Mine - Historic Copper Mineralization Zones (http://www.goldhawkresources.com/en/uploads/highlight-files/oracle_ridge_copper_mine_-_historic_cu_mineralization_zones.pdf)

The technical information in this media release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Glenn R. Clark, P.Eng. of Glenn R. Clark & Associates Limited, a consultant for Gold Hawk, Qualified Person under NI 43-101, and is responsible for the technical information reported herein.

Drill Program update

A total of 9,800 feet of drilling has been completed to date of the initial 15,000 feet of surface Phase One drilling designed to validate the existing drill hole data. To date, the results are within expectations. The Phase One drill core assay results will be compared against and used to verify the historic data and to complete a new, NI 43-101 compliant technical report on reserves and resources. Gold Hawk is in possession of the historic data base consisting of 534 drill holes totalling more than 163,000 feet of drilling. The available historic drill core samples are in good condition and stored on site and are in the process of being catalogued, logged and assayed as part of the study to bring the project to NI 43-101 standards.

Gold Hawk is in the process of re-activating the underground Oracle Ridge Copper Mine, located in rural Pima County, Arizona north of Tucson, last in production in 1996. Both the mine and the tailings facilities are located on private property. Engineering and design work is underway using a 15% cost estimation level consistent with industry standards for project debt financing should the company elect to utilize this method for construction financing. The study will be based on a 2,000 tons-per-day processing facility and related facilities including the tailings impoundment. Preliminary production estimates indicate that approximately 140 tons of high-grade copper concentrate could be produced on a daily basis.

The Oracle Ridge Copper Mine hosts at least 12 known zones containing multiple beds of primary copper skarn mineralization. Copper grades as high as 22% are reported in the historic drill hole data. During previous operations gold and silver were produced as by-products. Given current precious metal prices a silver/gold credit could potentially enhance project economics. Past ore produced by the mine were not consistently tested for the presence of other minerals, such as magnetite, and the Company has undertaken detailed metallurgy studies as part of the engineering and design studies.

Historically there have been a number of resource and reserve estimates available that were made by reliable, knowledgeable professionals. As part of a 1995 feasibility study for a 2,000 tons-per-day processing plant, the former operator developed a mine plan containing 8.8 million tons grading 2.3% copper diluted, in all categories. This mine plan conformed to United States Securities and Exchange Commission mining reserve definitions in place at that time. The reader is cautioned that the foregoing estimate is not in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is cited for historical purposes only and should not be relied upon until further work is carried out. Gold Hawk believes, however, that the historical resource estimates reported above are material and should be disclosed as these historical results provide an indication of the potential of the property and are relevant to future exploration.

For additional information on the Oracle Ridge Copper Mine, please see the August 20, 2010 Technical Report, Review of the Oracle Ridge Mine Project, available on SEDAR and on the Company's website (http://www.goldhawkresources.com/en/properties/oracle-ridge.php).

Annual and Special Meeting of Shareholders

Gold Hawk will hold its Annual and Special General Meeting on Tuesday, June 7, 2011 at 10:00 a.m. (Pacific Time) at the Seymour Room of the Coast Coal Harbour Hotel, 1180 West Hastings Street, Vancouver, B.C. Shareholders of record as at the close of business on May 2, 2011 are entitled to vote at the meeting. Voting instructions will be sent to shareholders with the Notice of Meeting, Management Information Circular and Proxy and have been filed on SEDAR.

About Gold Hawk Resources Inc.

Gold Hawk (News - Market indicators) is a Vancouver, Canada-based company with a focus on uncovering overlooked deep-value projects to achieve superior shareholder returns. The Company is the sole owner and operator of Oracle Ridge Mining LLC and copper mine located 24 km northeast of Tucson, Arizona. Gold Hawk has cash on hand of approximately $19 million, minimal long-term debt and is managed by an experienced team of mining professionals with extensive operating and financial experience.

Forward-looking Statement Disclaimer

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Gold Hawk Resources Inc. (hereinafter referred to as the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Gold Hawk Resources Inc.
Mr. Jason Mercier
Investor Relations
(604) 689-9261
info@goldhawkresources.com
www.goldhawkresources.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Gold Hawk Resources Inc

EXPLORATION STAGE
CODE : GHK.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Gold Hawk Res. is a gold and silver development stage company based in Canada.

Gold Hawk Res. holds various exploration projects in Canada.

Its main exploration properties are BARRY-SOUART, VERNEUIL TOWNSHIP and ORACLE RIDGE in Canada.

Gold Hawk Res. is listed in Canada. Its market capitalisation is CA$ 289.4 millions as of today (US$ 295.2 millions, € 204.6 millions).

Its stock quote reached its lowest recent point on January 15, 2010 at CA$ 0.67, and its highest recent level on February 25, 2011 at CA$ 2.50.

Gold Hawk Res. has 226 122 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Gold Hawk Resources Inc
6/21/2007Annouces fatal accident at Coricancha Mine
Financings of Gold Hawk Resources Inc
5/19/2010Proposes amendments to share purchase warrants
12/10/2009Signs US$12.5 Million Indicative Term Sheet For Standby Cred...
10/20/2009Closes Private Placement
6/3/2009closes non-brokered private placement
3/5/2009Gold Hawk closes $1.0 million private placement
2/4/2009announces non-brokered private placement
7/24/2007 Announcement of $10 Million Bought Deal Financing
Option Grants of Gold Hawk Resources Inc
3/24/2011Grants 750,000 Stock Options at $1,90
10/29/2007APPOINTMENT AND AMENDMENT TO STOCK OPTION PLAN AND GRANT OF ...
Nominations of Gold Hawk Resources Inc
4/11/2008appoints new Chief Financial Officer
2/4/2008APPOINTMENT OF VICE PRESIDENT - PROJECTS
Financials of Gold Hawk Resources Inc
4/2/2011Files Annual Audited Financial Results
6/1/2010Files first quarter financial results
5/1/20102009 Financial Results
11/27/2009Files 3rd Quarter Financial Results
6/5/2009files first quarter 2009 financial results
12/2/2008announces third quarter financial results
6/4/2008announces first quarter financial results
5/1/2008Announces 2007 Financial Results
8/30/2007Q2-2007 Financial Results
Project news of Gold Hawk Resources Inc
5/29/2011(Oracle Ridge)Samples 150 Feet of 2.17% Copper in a Historic Un-Mined Subl...
5/12/2011(Oracle Ridge)Intercepts 25 Feet of 4.63% Copper, 1.25 opt Silver at Oracl...
8/12/2009(Coricancha)enters into non-binding heads of agreement
1/8/2009(Coricancha)receives final permit to construct permanent tailings facili...
5/26/2008(Coricancha)Provides an Update on Its Response to Natural Ground Displac...
5/12/2008(Coricancha)Temporarily Suspends Crushing and Milling Operations at Cori...
4/10/2008first quarter gold production doubles as overall production ...
Corporate news of Gold Hawk Resources Inc
6/7/2011Shareholders Approve All Motions at AGM
3/24/2011Grants Incentive Stock Options
8/17/2010signs Letter of Intent to acquire the Oracle Ridge Copper Mi...
8/18/2010shareholders approve all resolutions at AGM
7/7/2010Sells Peru Interests for US$4.4 Million: Gold Hawk Has $1.48...
5/21/2010Receives regulatory approval for warrant amendments
5/21/2010Recognizes filing of dissident circular and postpones AGM
1/30/2010Ceases merger discussions with Nuinsco
1/18/2010Business Combination Agreement With Nuinsco to Create a St...
12/3/2009Share consolidation effective date and new trading symbol
11/12/2009Closes Coricancha Mine Transaction
11/10/2009Board Change
10/13/2009Mails Meeting Information Circular This Week
10/1/2009Signs Share Purchase Agreement
9/28/2009receives final approval of modified EIA including new Chinch...
6/6/2009posts AGM presentation to website
2/18/2009receives US$2.0 million from restructured loan
2/6/2009issues shares to advisor
2/2/2009Gold Hawk reaches an agreement to restructure its debt
1/24/2009receives debt acceleration notice from lender
12/31/2008Provides status update on dept repayment
9/2/2008CGK News Release
8/13/2008CGK Latest News release
8/6/2008distributes media release
7/28/2008expects to restart operations in six to eight months once ap...
7/14/2008amends warrant terms
6/27/2008CGK Latest News Release
5/6/2008strengthens management team
3/3/2008PRODUCTION UPDATE
2/26/2008announces new investor relations role
11/28/2007refinance debt facility
10/1/2007Achieves commercial production at Coricancha
8/17/2007$10 million financing closed
8/16/2007Mine operation unaffected bay earthquake
8/1/2007Announcement of US$3 million Loan Facility
7/5/2007Announces Senior Management Changes
5/28/2007Coricancha Operations Update
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GHK.V)
1.28-1.54%
TSX-V
CA$ 1.28
08/15 15:12 -0.020
-1.54%
Prev close Open
1.30 1.30
Low High
1.28 1.30
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  1.28 -%
Volume 1 month var.
14,500 -%
24hGold TrendPower© : -44
Produces
Develops
Explores for Copper - Diamonds - Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/11/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.15-0.97%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.37+3.37%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.61+22.07%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70+0.00%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02-20.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.30+3.12%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 11.05+3.76%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.28-5.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.28-1.79%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.55+0.00%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 75.80+2.78%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+14.29%Trend Power :