Hawk's JV Partner-MacDonald Mines Exploration Ltd., Announces the Completion of the First Phase of Drill Program on the
* Reuters is not responsible for the content in this press release.
TORONTO, ONTARIO, Jan 22 (MARKET WIRE) --
Hawk Uranium Inc. (TSX VENTURE: HUI) ("Hawk") is pleased to announce
that its Joint Venture Partner - MacDonald Mines Exploration Ltd. (TSX
VENTURE: BMK) ("MacDonald Mines"), has announced that it has completed 12
holes in this first phase drill program, of which 5 diamond drill holes
totalling 1,089 meters on 3 airborne anomaly targets, namely N-25 (3
holes), N-26 (1 hole) and N-30 (1 hole), were drilled on the Hawk
(36.75%)-MacDonald Mines (63.25%) Joint Venture McNugget Property located
in the McFaulds Lake Area, James Bay Lowlands, Ontario.
The following detailed descriptions are quoted from the MacDonald Mines
press release of January 21, 2008.
"Target N-25 was tested with three drill holes. The target is defined
over a strike length of 1000 meters with AEM responses varying from weak
to strong. Hole MN07-39 that intersected 0.36% Ni over 4.5 meters and
0.26% Ni over 27.0 meters previously tested this anomaly. Holes MN07-51
and 53 (MacDonald-Hawk J.V.) tested a strong ground EM response and
intersected a sequence of gabbro and granite. However, the EM anomaly was
not explained by either hole and further study is required. Assays are
pending. Hole MN07-54 (MacDonald-Hawk J.V.) tested the anomaly a further
100 meters to the NE but again the EM anomaly is not adequately
explained. Assays are pending."
"Hole MN07-55 (MacDonald-Hawk J.V.) tested target N-26 which exhibits a
strong AEM response with a coincident magnetic anomaly. The hole
intersected gabbro and minor granite throughout its length. Disseminated
magnetite was encountered over significant core widths. Sulphide
stringers explain the EM response. Assays are pending."
"Target N-30 (MacDonald-Hawk J.V.) displayed a series of weak to moderate
AEM anomalies over a strike length of 900 meters that had a coincident
magnetic anomaly associated with it. Drill hole MN07-49 encountered
gabbro throughout its 213 meter length. Disseminated to massive magnetite
over short intervals explained the magnetic anomaly while fracture filled
sulphides accounted for the EM response. No assays of economic interest
were obtained from extensive sampling."
The January 21, 2008 press release by MacDonald Mines further states that
"assays will be completed by ALS Chemex in Thunder Bay. Reference
standards and blanks were inserted into the sample streams as part of a
QA/QC program to ensure accurate results."
Kirk McKinnon, President and CEO of MacDonald Mines, commented:
"The drill results to date are encouraging and we continue to intersect
mineralization in most of the holes, confirming our belief that the
Company is exploring in a highly mineralized belt."
"We are very pleased to announce that a major drill program on MacDonald
and Joint Venture ground with Temex Resources, Baltic Resources and Hawk
Uranium will commence in February. We will be moving a second drill into
the area in early March and anticipate that MacDonald Mines along with 5
or 6 other companies will be fully engaged in winter/spring drill
programs."
"We anticipate that the current airborne survey will produce multiple
geophysical targets on both the MacDonald Mines and Joint Venture ground.
Equally important to note, MacDonald Mines still has very good targets on
the McNugget, Big Mac and the Joint Venture Property with Hawk Uranium
that were identified from its previous airborne survey and still must be
drill tested."
Vance White, President and CEO of Hawk said: "We are very pleased to have
this program underway and to be conducted in the professional manner that
it has been to date. We look forward to receiving the results when
available. With regard to the McFaulds Camp in general, we feel that the
Noront Resources Inc. discovery is significant and may well lead to a new
mining district as the area will experience a substantial amount of new
exploration monies expended in what to date has been an under-explored
area of the Province of Ontario. Hawk is continuing its focused
exploration in this new emerging mineral camp by entering into an option
agreement with Noront Resources Inc. to obtain a 50% interest in 10
claims covering approximately 6,340 acres in the "ring of fire". For
further details regarding Hawk's option agreement with Noront Resources
Ltd. (which remains subject to approval by the TSX Venture Exchange), see
Hawk's press release of November 21, 2007.
The MacDonald Mines press release of January 21, 2008, excerpts relating
to the Hawk joint venture with MacDonald Mines being re-printed in this
press release, was prepared under the supervision of Bill Nielsen, P.Geo,
Director of MacDonald Mines Ltd., who is the designated qualified person
for the technical information quoted from that press release.
Michael Newbury, P.Eng, a "qualified person" as such term is defined by
National Instrument 43-101, has reviewed and approved the technical
information in this news release on behalf of Hawk.
ABOUT HAWK URANIUM INC.
Hawk has option interests in a uranium project in Grand Calumet Township,
Quebec, two VMS/nickel/copper exploration properties in the McFaulds Lake
"Ring of Fire" area of Northern Ontario through option or joint venture
agreements (one with Noront Resources Inc. and one with MacDonald Mines
Exploration Ltd.), one gold exploration property in the Wawa area of
Ontario, one uranium property in the Elliot Lake Camp of Ontario, one
uranium property in the Charlebois Lake area of the Northern Mining
District of Saskatchewan, one uranium property in Gila County, Arizona,
and a core holding of 3.5 million shares in Wits Basin Precious Minerals
Inc. (OTCBB: WITM) ("Wits Basin"). Wits Basin is currently pursuing
active projects in South Africa, Colorado, Mexico and the People's
Republic of China. Hawk also has petroleum and natural gas properties in
Ontario.
For all Hawk Uranium Inc. investor relations needs, investors are asked
to visit the Hawk Uranium IR Hub at http://www.agoracom.com/ir/hawk where
they can post questions and receive answers within the same day, or
simply review questions and answers posted by other investors.
Alternatively, investors are able to e-mail all questions and
correspondence to hui@agoracom.com where they can also request addition
to the investor e-mail list to receive all future press releases and
updates in real time.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This news
release includes certain "forward-looking statements". All statements
other than statements of historical fact included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of Hawk, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and results to differ
materially from Hawk's plans and expectations as detailed herein and from
time to time in the filings made by Hawk with the TSX Venture Exchange
and securities regulators. Hawk does not assume any obligation to update
or revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Contacts:
Hawk Uranium Inc.
H. Vance White
President
(416) 214-2250 or 1-866-214-9486
(416) 367-1954 (FAX)
Hawk Uranium Inc.
Walter Brooks
Vice-President
(416) 214-2250 or 1-866-214-9486
(416) 367-1954 (FAX)
Copyright 2008, Market Wire, All rights reserved.
-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters