Total Issued: 15,000,000, TSX: HGO.V, Area: Yukon Gold Rush
Now Commencing the 2011 Summer Work Program at the TOP Property, a 4511 Hectare Epithermal Gold-Silver Target on the Northern Edge of Yukon’s Carmacks Caldera.
Hawkeye Gold & Diamond identifies and acquires low-cost high potential mining opportunities worldwide. In 2011, the company became focused on becoming a leader in Yukon’s 21st Century Gold Rush, acquiring options on 3 properties in Yukon’s Carmacks Caldera.
- Agreements recently approved (May, 2011) for 3 very prospective gold and silver properties located in Canada’s Yukon.
- $907,750 financing closed in March (oversubscribed, 6,051,670 Units @ $0.15 / Unit).
- Low shares outstanding (15.7 million shares outstanding following financing) trading @ $0.15.
- Exposure to the large Carmacks Caldera area, an underexplored but highly promising area of the Yukon (i.e. similarity with other gold rich calderas of the world, significant gold anomalies present, structural trends present, a past producer which was the richest Au/Ag mine in the Yukon).
- Now commencing important work program (announced June 30, 2011).
- Yukon is very mining friendly, with favorable mining and tax laws, good infrastructure. Yet it is underexplored, with over 20 million ounces of placer gold production and the bedrock source for all placer gold continuing to remain a mystery.
- There is now a gold rush going on in the Yukon, with 79,993 claims staked in 2010, exploration expenditures exceeding $160 Million in 2010, two new gold districts recently discovered (Dawson Range Gold District, Selwyn Basin Gold District), and significant major recent discoveries by Kaminak, Atac, Underworld Resources, and others.
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The Carmack Caldera Region, Yukon
Hawkeye is now active in and around the Carmack Caldera, a large (60km x 100 km), underexplored area situated in the basin of a collapsed volcano. In May, Hawkeye received TSX Venture Exchange (TSX-V) acceptance for filing of three separate but identical Option Agreements to acquire a 100% interest in each of the TOP, DART, and MINT Properties. The properties are situated in the Carmacks Caldera located 125 km northwest of Whitehorse. The Carmacks Caldera is inferred to be a volcanic-related subsidence structure (collapsed volcano) that is believed to be highly prospective for gold and silver for several reasons.
- Many economically important ore deposits in the western United States and in other parts of the world, are found within Collapsed Calderas (i.e. Lihir Island, Porgera, Round Mountain, Cadia Ridgeway).
- Located in the Carmacks Caldera, Mt. Nansen is the richest Au/Ag past producer in the Yukon – 446,549 tons @ 17g/t AuEq.
- Both NW/SE and NE/SW structural trends are present in the Caldera. NW trending structures are the main structural trends that host mineralization at the White Gold, Coffee, Casino, Mt. Freegold discoveries and at Mt. Nansen. Secondary NE trending structures have also been linked to gold deposition in the Dawson Range The Caldera has both of the these trends.
- The Carmack Caldera has the strongest group of gold anomalies as well as the strongest PCA anomaly in the Yukon.
- The Manganese (Mn) geochemical profile may be reflecting epithermal nature of the area.
- Important gold geochemical signatures are present.
- Strongest group of gold anomalies in the Yukon (highest 1% of gold anomalies in South Yukon).
Carmacks Caldera, Yukon
“The similarity in structural geometry from NW to SE through the Dawson Range Mineral Belt indicate the presence of a much larger system than previously recognized, however the sources of the gold bearing fluids remain enigmatic”
Bennett, Colpron, Burke – Yukon Geological Survey, July, 2010.
“In the Yukon, gold mineralization is related to the Carmacks volcanic units and coeval hydrothermal alteration. A genetic model linking gold mineralization to hotspot related hydrothermal activity is suggested. New exploration models, based on this linkage, may assist in the identification of additional gold mineralization in Yukon”.
S.T. Johnston et al – Yellowstone in Yukon – 1996
Carmacks Caldera – Strongest Group of Gold Anomalies in the Yukon
Carmacks Porphyry Belt Trend
3 HAWKEYE PROPERTIES – CARMACKS CALDERA
TOP, DART, & MINT
TOP Property, Yukon (59 km NW of Carmacks, and 207 km NW of Whitehorse)
The TOP property totals 4,511 hectares located 12 kilometers southwest of Northern Freegold Resources’ Nucleus gold-silver-copper deposit (1.4 million ounces AuEq) and 20 kilometers northwest of the past producing Mt. Nansen high grade gold-silver mine (556,500 tonnes grading 11.93 g/t gold and 211 g/t silver).
The TOP is situated along a NW-trending fault structure that appears to pass through the mine area to the SE. It is also cut by NE-trending structures that intersect the main northwest-trending structure in several locations. The Property is underlain by a large, slightly elongated, bull’s-eye magnetic high anomaly.
Past work identified several gold anomalies found in creeks throughout the property and significant gold anomalies have been found in soils
The Property has several gold anomalies found in creeks draining the entire length of the Property.
- A repeatable gold anomaly with values of 12 ppb / 24 ppb and an 18 ppb gold anomaly were identified in creeks on the northern end of the claims.
- Other gold anomalies found in creeks draining the Property included values of 17 ppb and 106 ppb.
Significant gold anomalies have been found in soils on the Property.
- In 1971, Kennco Explorations identified a 345 ppb gold soil anomaly and several other 100+ppb gold soils on the northern part of the Property close to an area where two creeks with anomalous stream sediments gold anomalies originate.
Geology with Soil Geochem Anomalies
This rock sample from the TOP Property is a porphyry intrusive cut by sheeted veins with tightly spaced sheeted vein arrays observed, quartz veins carrying sulphides and has disseminated sulphides (pyrite) present in the rusty intrusive rock. The 385ppb gold anomaly found by Kennco was mapped near this outcrop. Of interest, the Fort Knox
Gold Deposit in Alaska was formed in rock type similar to this rock sample.
There are two types of targets at the TOP property:
- Epithermal gold-silver model, and
- Porphyry copper-gold model.
DART Property, Yukon
The DART property totals 500 hectares and is located 58 km southwest of Carmacks and 175 km north -northwest of Whitehorse. It is underlain by a significant magnetic high anomaly, which occurs at the intersection of NW and NE -trending fault structures.
Two stream sediment gold anomalies (one 95th percentile (>17 ppb) and one 99th percentile (>92 ppb)) occur in the main creek draining the Property. The 95th percentile gold value is a repeat anomaly detected by initial and repeated assay process.
Regional GSC stream sediment sampling shows anomalous manganese in the main creek draining the DART property. Manganese may be reflecting the epithermal nature of the caldera area, and is often associated with silver mineralization.
Magnetics with Soil Geochem Anomalies (located downstream)
136 ppb Au and 2,654 ppm Mn (green yellow circle)
61 ppb Au (red yellow circle (repeat anomaly)
Intersecting Northwest / Northeast Cross Faults Over Mag High