Hawkmoon Continues to Extend Gold Zones With Deep Holes at Wilson

Rhea-AI Summary

Hawkmoon Resources Corp. has announced assay results from the final five drill holes of its 2022 drilling program at the Wilson Gold project in Quebec. Significant findings include Hole HMW 22-32, which intersected a high-grade gold zone of 13.9 g/t over one metre, and Hole HMW 22-33, extending a prior gold intercept with 3.40 g/t over one metre. The results indicate potential for additional tonnage as gold zones remain open at depth. CEO Branden Haynes expressed optimism about continuing to intercept gold at significant depths.

Positive

• High-grade intercept of 13.9 g/t Au over one metre in Hole HMW 22-32.
• Hole HMW 22-33 extended a pre-existing gold intercept with 3.40 g/t Au.
• Potential for additional tonnage as deeper and lateral extensions of gold zones are identified.

Negative

• Hole HMW 22-38 showed only 1.27 g/t Au, indicating further exploration is necessary.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Hawkmoon Resources Corp. (CSE:HM; OTCQB:HWKRF; FSE:966) (“Hawkmoon” or the “Company”) is pleased to announce that it has received assay results for the final five (5) drill holes (the “Holes”) from its 2022 10-hole drill program (the “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, Quebec in the Abitibi Greenstone Belt.

Figure 1: Map of the disclosed drill holes, Wilson Property (Graphic: Business Wire)

Highlights

• Holes HMW 22-32 and HMW 22-33 were drilled parallel to each other. Both of these 450-metre-long holes intersected gold at depth in the Toussaint Zone.
• HMW 22-32 had a high-grade deep intercept. The core of this four-metre-thick zone assayed 13.9 g/t gold (‘Au’) over one metre (230 to 231 metres downhole).
• Hole HMW 22-33 laterally extended a pre-existing gold intercept (WIL-17-04). One metre of this two-metre intercept assayed 3.40 g/t Au over one metre (363 to 364 metres downhole).
• Extending shallower gold zones to depth is of critical importance. Extending shallower zones at depth creates additional tonnage potential at Wilson. The Toussaint mineralized gold system remains open at depth and to the southwest.
• Hole HMW 22-38 was drilled on the north limb of the fold at Wilson. The Summer 2022 trenching program, announced by the Company in its July 7, 2022 news release, revealed a volcanic tuff which had been moderately altered by silica, sericite and chlorite. This rock also had 2% pyrite, which appeared associated with stock work quartz veining. This area on the north limb of the fold appears similar to the Toussaint Showing on the southern limb of the fold. Hole HMW 22-38 though, with 1.27 g/t Au over one metre (22 to 23 metres downhole), suggests that this area requires more exploration drilling.

Table 1 below highlights certain gold assays received for the Holes. The results represent down-hole lengths and not necessarily true widths. A map showing the locations of the Holes follows in Figure 1. Table 2 is a table of all phase two drill results along with the calculated “(grade) x (thickness)” metric.

Table 1: Highlights of Gold Assays Received for Holes HMW 22-32/33/36/37/38

Drill Hole	Target Area	From (metres)	To (metres)	Length (metres)	Gold Grade (g/t)
HMW 22-32	Toussaint	230.0	231.0	1.0	13.9
HMW 22-33	Toussaint	363.0	364.0	1.0	3.40
HMW 22-33	Toussaint	284.0	285.0	1.0	1.11
HMW 22-36	Midrim	155.0	156.0	1.0	2.61
HMW 22-36	Midrim	44.0	45.0	1.0	1.1
HMW 22-38	North Limb	22.0	23.0	1.0	1.27
HMW 22-37	Midrim	10.5	11.5	1.0	0.89

Long Section Summarizing the Diamond Drilling Completed to Date

164 holes have been drilled on the Property between 1956 and the date of this news release. This drilling has defined three significant mineralized areas on the Property: the Toussaint, Central, and Midrim Zones. A long section heat map is presented in Figure 2. Notable pierce points by drill holes are shown in grey circles.

Mineralization, Setting and Style

Mineralization at Wilson is present where a volcanic tuff comes into contact with an intrusion. These intrusions are primarily gabbro in composition. The most prospective areas of the Property are along the contacts between volcanic tuffs and intrusions. The rocks at Wilson dip sub-vertically.

The Holes intercepted mineralization typical of Wilson. This mineralization is characterized as a beige to pale grey coloured volcanic tuff which has been strongly foliated, sheared, fractured and altered. The mineralization is associated with strong silica, sericite and calcite alteration. Ankerite and chlorite alteration are present to a lesser degree. Quartz veins and veinlets are commonly observed in the mineralized zones. Pyrite is the dominant sulphide mineral.

Branden Haynes, CEO of Hawkmoon, states, “We are motivated to continue intercepting gold at significant depths, as well as expanding previously known deep gold zones. Growing the tonnage potential at Wilson is very encouraging to all of us.”

About Hawkmoon Resources

Hawkmoon is focused on junior stage property acquisitions across Canada. Hawkmoon is focused entirely on its two Quebec gold projects. One of these projects is located in one of the world’s largest gold endowed areas, the Abitibi Greenstone Belt. The Wilson Gold project can be accessed by government-maintained roads and are in close proximity to each other east of the town of Lebel-sur-Quévillon. The second project is situated in the Belleterre Gold Camp southwest of Val-d’Or. For more information, review the Company’s filings available at www.sedar.com.

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 the Company’s expectations respecting continuing to intercept gold at significant depths and expanding previously known deep gold zones. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221124005048/en/

Branden Haynes, Chief Executive Officer and Director

branden@hawkmoonresources.com

604-817-1595

Source: Hawkmoon Resources Corp.

FAQ

What were the assay results from Hawkmoon Resources' latest drill program?

The final five drill holes revealed significant gold intercepts, including 13.9 g/t Au in Hole HMW 22-32 and 3.40 g/t Au in Hole HMW 22-33.

What is the significance of the drill results from the Wilson Gold project?

The results suggest potential for expanding gold resources as the mineralized zones remain open at depth, indicating more tonnage potential.

What did CEO Branden Haynes say about the recent drilling results?

CEO Branden Haynes emphasized the company's motivation to continue finding gold at significant depths and expanding existing high-grade gold zones.

How does Hole HMW 22-38's result impact future drilling plans?

The lower grade of 1.27 g/t Au in Hole HMW 22-38 suggests that this area requires more exploration drilling to assess its potential further.