Lone Pine Gold Project

Overview

In February 2020, the Company diversified its asset portfolio, through the acquisition of 100% of the historical high grade Lone Pine Gold project in Idaho, USA, which is currently Hawkstone’s main focus.   Hawkstone has assembled a highly experienced management, geological and technical team on the ground in the US and will utilise this expertise to rapidly develop the Lone Pine Gold Project to a Maiden JORC Resource.

Project Highlights

  • Hawkstone holds a 100% interest acquired in the historical high-grade Lone Pine Gold Project.
  • Non-JORC compliant, mineral resource estimate of 71,128 ounces Au (122,600 tons @ 18.06 g/t Au).
  • The Project is located approximately 10km west of Salmon, Idaho, USA and consists of 2 patented claims 16.77 ha surrounded by a further 75 BLM lode claims covering 607 ha.
  • The Project offers significant financial upside from proof of concept exploration success and the Company’s aim is to develop the Project into a medium to high-grade gold deposit.

Regional Geology

  • The Lone Pine Gold Project lies in the Trans-Challis Fault System, a broad northeast-trending structural system that has been traced for 300 km across the centre of the state of Idaho. 9 million ounces of gold has been produced from this fault system from 1863-1980, more gold than any other mining locality in Idaho.
  • The Project lies 16km and 8km east respectively of the Arnett Creek and Beartrack Mine, 5km west of the historic Queen of the Hills mine, and 900m NW of the King Solomon Mine.

Tenement map of the flagship Big Sandy lithium project

  • Beartrack produced 600,000 oz Au up to the year 2000 from resources totaling 98 million ounces Au, and was closed due to a declining gold price[1].
  • Arnett Creek and Beartrack are being explored by Revival Gold Inc TSX.V:RVG

[1] Michael Lechner, 2018, Mineral Resources Estimate Beartrack Property, Lemhi County, Idaho, United States

Project History

  • Gold was discovered on the Project in 1882 with the majority of the development work completed prior to 1907. This included six adits at 30m vertical intervals (levels) up the mountain side and a shallow shaft. A total of 837m of workings including; 714m of drifts, 117m of raises, and a 5.5m shaft were completed.
  • A 10 stamp mill was constructed in 1907 and operated intermittently for six months (Guewilik, 1935)[1]. Company reports are incomplete and an early newspaper (unknown date) reports “…considerable gold bullion….” was mined from this property.
  • Guewilik 1935 estimated a non-JORC resource of 71K ounces Au.

[1] Guewilik, R., 1935, Report on U.P. & Burlington Mine, Company Report

Lone Pine Gold Project – Guewilik 1935 estimated a non-JORC resource of 71K ounces Au.

Lone Pine Gold Project Geology

  • Gold mineralisation on the Project is hosted by a quartz veined zone in a northeast-trending, 80 degree westerly dipping, shear in granite near its contact with overlying quartzite.
  • The quartz vein zone has been traced via surface pits and underground drives (Adits 1-6) over a strike length of 480m.
  • The vein is a mesothermal, fissure type consisting of quartz veining and coarse gouge. The gouge is schistose crushed quartz as found in Adit # 5.
  • Sampling has demonstrated the gold to be associated with both the vein and gouge.

Historical Drilling – Lone Pine Gold Project

Recent Exploration

  • Limited recent exploration has been undertaken on Lone Pine, providing a significant opportunity for development.
  • Between 2010 – 2013, Inception Mining Corp. opened the portals of the #5 and #6 adits, completed trenching, metallurgical testwork and a bulk sample.
  • Results have included: 46 g/t Au over 2.6 metres representing the weighted average of samples across the vein zone at Adit #5. High grade, select float samples from the vein have returned assays up to 45.67 g/t Au and 20.75 g/t Ag in vein material containing  5–7% disseminated pyrite[1].
  • During due diligence, sampling of the vein at Adits #3 & 4 that returned 6 g/t Au and 18.25 g/t Au respectively.