Hawkmoon Drills 8.20 Metres of 1.61 G/T Gold on the Lava Property, Québec

Rhea-AI Summary

Hawkmoon Resources Corp. (CSE:HM; OTCQB:HWKRF; FSE:966) announced final assay results from its 2021 drill program at the Lava gold project in Québec. The program consisted of ten drill holes totaling 1,005 meters, revealing significant gold intersections. Notably, drill hole LA21-49 reported 16.05 grams per tonne gold over 0.20 meters. Overall, seven of the ten holes yielded positive results, confirming the potential of the Lavallée Shear Zone. President Branden Haynes expressed satisfaction with the results, highlighting effective targeting based on previous geophysical data.

Positive

• Seven out of ten drill holes intercepted positive gold results.
• Highest assay value recorded was 16.05 g/t Au in LA21-49.
• Drill program confirmed the potential of the Lavallée Shear Zone.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Hawkmoon Resources Corp. (CSE:HM; OTCQB:HWKRF; FSE:966) (“Hawkmoon” or the “Company”) has received the final assay results for all ten drill holes (the “Holes”) from its 2021 drill program (the “Program”) on the Lava gold project (“Lava” or the “Property”). The Property is situated approximately 20 kilometres west of the town of Belleterre in the Abitibi-Timiskaming region of Québec and approximately 110 kilometres southwest of the city of Val-d’Or, Quebec.

Figure 1: Map of the drill holes and total magnetic field (Graphic: Business Wire)

Highlights of the Holes Disclosed in this News Release

• The Program consisted of ten holes for a total of 1,005 metres and was completed in November, 2021 and targeted the Lavallée Shear Zone (“LSZ”). The LSZ was drilled over a 400-metre horizontal distance down to a maximum vertical depth of 100 metres. Drilling was based on 2-D modelling ¹ of induced polarization and resistivity data from a survey completed in 2007 ².
• Hole LA21-42 intercepted the LSZ and assayed 1.61 grams per tonne gold (“g/t Au”) over 8.20 metres.
• Seven of ten holes intercepted positive gold results including assaying up to 16.05 g/t Au in LA21-49 over 0.20 metres. This sample was part of an intercept of 2.43 g/t Au over 1.70 metres.

Mineralization Setting and Style

The drilling encountered a broad zone of sheared diorite (the “Alteration Zone”). The LSZ is present within the Alteration Zone measured 2.7 to 11.8 metres in downhole thickness. The LSZ has been injected with quartz veins that range from 0.1 metres to 2.0 metres in width. Disseminated to semi-massive sulphides occur as bands up to 10 centimetres wide within and along the margins of quartz veins. Gold values within the LSZ reached a maximum of 16.05 g/t Au over 20 centimetres in LA21-49. A higher content of sulphide minerals appears to generally lead to higher gold grades.

Table 1 highlights certain gold assays received for the Holes. The results represent down hole lengths and not necessarily true widths. Figure 1 shows a map of the drilling. A photograph of the core is shown in figure 2.

Table 1: Highlights of Gold Assays Received for the Lava Drill Program
Drill Hole	From (metres)	To (metres)	Length (metres)	Gold Grade (g/t)
LA21-42	61.1	69.3	8.20	1.61
Including	67.3	69.3	2.00	3.72
LA21-49	55.4	57.1	1.70	2.43
Including	55.9	56.1	0.20	16.05
LA21-45	84.2	87.3	3.10	1.28
LA21-43	112.2	113.7	1.50	1.38
LA21-47	80.8	81.3	0.50	2.62
LA21-47	83.7	84.6	0.90	1.62
LA21-46	53.2	54	0.80	1
LA21-44	57.4	60.4	3.00	0.93
LA21-40	No Significant Values
LA21-41	No Significant Values
LA21-48	No Significant Values

Branden Haynes, President of Hawkmoon, states “We are pleased with these initial drill results. Applying the 2D-modelling to the previous geophysical data provided high confidence, low cost targeting for the drill program. The gold-bearing intervals intersected by the drilling bear-out this approach which can be applied to other geophysical targets on the Lava Property.”

Sampling Procedures
The gold results reported in this press release were obtained from core samples delivered in person to Bourlamaque Assay Laboratories Ltd. ("Bourlamaque") in Val d'Or, Quebec for analysis. One blank and one certified reference material standard were included in every 20-sample batch of samples. The samples were crushed to a minimum 70% <1.7-millimetre, riffle split to 250 grams and then pulverized to a minimum 85% <75 microns. Sample pulps were analyzed for gold by classic 30-gram fire assay (“FA”), atomic absorption spectrometry finish with a lower reporting limit of 0.01g/t Au (Bourlamaque Code AU020-SAA 30g). Sample returning >10g/t Au were automatically re-assayed by FA-gravimetric finish.

About Hawkmoon Resources
Hawkmoon is focused entirely on its three Quebec gold projects. Two of these projects are located in one of the world’s largest gold endowed areas, the Abitibi Greenstone Belt. Both these gold projects are accessed by government-maintained roads and are in close proximity to each other east of the town of Lebel-sur-Quévillon. The third 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.

References

1. Simard, J. (2021). Hawkmoon Resources Inc.: Geophysical consulting report completed on the Lava project, Gaboury township, Belleterre, Québec. Unpublished.

2. Boileau, P. (2007). Ressources Conway Inc., Levés géophysiques au sol (EMH et P.P.- Résistivité) sur la propriété Lavallée, canton Gaboury, Abitibi, Québec, SNRC 31 M/06 - 31 M/07. SIGÉOM GM63427

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 statements regarding higher content of sulphide minerals appearing to generally lead to higher gold grades and the application of the gold-bearing intersect results to other geophysical targets on the Lava Property. 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/20220301005240/en/

Branden Haynes

Chief Executive Officer and Director

Email: branden@hawkmoonresources.com

Telephone: 604-817-1595

Source: Hawkmoon Resources Corp.

FAQ

What were the final assay results for Hawkmoon Resources' Lava project?

The final assay results showed that seven out of the ten drill holes intercepted positive gold results, with the highest being 16.05 grams per tonne in drill hole LA21-49.

What is the significance of the Lavallée Shear Zone in Hawkmoon Resources' drilling program?

The Lavallée Shear Zone is significant as it has shown positive gold intersections in multiple drill holes, confirming its potential for further exploration.

When was the drill program at the Lava project completed?

The drill program at the Lava project was completed in November 2021.

What are the key highlights from Hawkmoon Resources' 2021 drill program?

The key highlights include the successful interception of gold in seven out of ten holes and significant assays such as 1.61 g/t Au over 8.20 meters in LA21-42.

What is the stock symbol for Hawkmoon Resources?

The stock symbol for Hawkmoon Resources is HWKRF.