PERTH (miningweekly.com) – The share price of ASX-listed Hawkstone Mining settled 20% higher on Friday after the company announced that its landholding at the Western Desert gold/copper project, in Western Utah, had increased by 950%.
The company on Friday told shareholders that since acquiring the project in March of this year, and based on the results from recent exploration, the company had increased its landholding to expand the total tenement package to 25.41 km2 at Western Desert.
“The Western Desert gold/copper project is living up to initial expectations by demonstrating its significant potential to host Carlin type gold mineralisation,” said MD Paul Lloyd.
“From the initial targeting and acquisition of the project, the work to date has defined exciting targets that we will progress in a logical and timely manner. With the known mineralisation and ideal structural setting, target A1 is a high priority target for Hawkstone, and we see the project as holding excellent potential in an under-explored geological terrain, that hosts some of the world’s largest gold deposits.”
Hawkstone closed at 1.8c a share on Friday, having traded at a high of 3c a share.