Drills hit at Machacala

The first eight holes drilled by Gold Hawk Resources (CGK-M) at the Machacala property in northwestern Peru have returned encouraging results.

One hole drilled on the 2-km-long Casa de Fuerza vein intersected the structure at a vertical depth around 135 metres. The intersection was 3.6 metres long — implying a horizontal width somewhere around 2.5 metres — and averaged 11.3 grams gold and 23.6 grams silver per tonne.

Another hole intersected some old workings driven along the same vein; once the portal was located, Gold Hawk was able to sample the back (roof) of the workings, with a chip sample returning 5.4 grams gold and 108 grams silver per tonne across a 1.5-metre width.

Two holes on the Fragua vein, about 800 metres north of Casa de Fuerza, both cut mineralization. The first intersected a 3.1-metre length grading 4.7 grams gold and 298 grams silver, followed by 2 metres grading 1.4 grams gold and 20 grams silver about 55 metres farther down the hole.

The second hole on Fragua, drilled 80 metres west of the first hole, cut 3.2 metres grading 13.6 grams gold and 164 grams silver.

At the San Juan de Velarde vein, 500 metres west of Fragua, two holes drilled into the assumed trace of the structure both intersected a fault. One hole had to be abandoned and the second returned only low gold and silver values over a 6-metre core length.

A single drill hole tested the parallel Caridad 1 and 2 veins northeast of Fragua, and another hole tested an induced-polarization anomaly northeast of Caridad. Gold Hawk is still awaiting assay results from the two drill holes.

The Machacala property, 40 km east of the city of Trujillo in La Libertad department, is a former gold and silver producer and was acquired by Gold Hawk in 1997.