Jul. 12, 2011 (Baystreet.ca) --
HAWKEYE Gold & Diamond Inc.
(the “Company” or “HAWKEYE”) is pleased to announce that it is in receipt
of results for a prospecting and geochemical sampling program for work that was
performed on its Scotia Property. The Company can earn up to a 60% interest in
the Scotia massive sulphide Property which totals 8,366.41 hectares and is
located 42 kilometers east-southeast of Prince Rupertsituated in the Skeena mining district of
British Columbia. The Scotia Property is a poly-metallic zinc, lead, silver,
gold and copper massive sulfide project and has incurred previous drilling over
its known mineralized zone known as the Albere Zone.
A resource estimate utilizing a 1% Zinc cut-off for the Albere Zone conducted by
Giroux Consultants Ltd. (2009) is incorporated into a 43-101 report announced
by HAWKEYE's partner Geo Minerals Ltd. (TSX.V: GM) via a news release dated
January 11, 2010 has estimated that the Measured + Indicated resource within
the Mineralized Shell is 802,000 grading 4.87% Zn, 13.87 g/t Ag, 0.53% Pb,
0.09% Cu and 0.17g/t Au. The Total Measured plus Indicated Resource for the Albere Zone
was calculated to be 876,000 tonnes grading 4.35% Zn, 12.29 g/t Ag, 0.47% Pb,
0.08% Cu, and 0.15 g/t Au.
The
same resource estimate indicates that there is an additional 702,000 tonnes
within the mineralized shell at the Albere Zone classed as Inferred grading
4.47 % Zn, 13.74 g/t Ag, 0.45 % Pb, 0.10 % Cu, and 0.19 g/t Au. No economic
parameters have been defined by the current Resource Estimate as to an
appropriate cut-off for various types of mining. The Albere zone is open on
strike to the northwest and open down dip to the west.
A
multi-parameter airborne geophysical survey was conducted over the Scotia
Property during August, 2008. The airborne
geophysical survey identified five first order anomalies, including the
outcropping Albere Zone and approximately 14 secondary anomalies and anomalous
trends. A geochemical sampling program
was conducted during fall, 2010 to test selected airborne anomalies to
determine if polymetallic geochemical anomalies are present.
The
2010 field exploration program consisted of a geochemical survey targeted on
selected Airborne Anomalies similar to the anomaly generated by the Albere
zone. A total of 64 rock chip, 136 moss
mat - active stream sediment and 67 soil samples were taken. Samples were flown by helicopter to Prince Rupert and
transported by truck and delivered to Acme labs processing facility on Powell Street, Vancouverfor analysis.
Page Two
July 11, 2011
Scotia Property Work Program Results
Virtually
all Airborne Anomalies sampled returned geochemically anomalous or elevated
values for the various sample types taken and values of over 1,000 ppm Zn were
encountered from “in place” rock chip sampling in the general vicinity of the
Albere Zone.
Additional
prospecting and follow-up geochemical sampling is warranted to attempt to
discouver clustered VMS occurrences similar to the Albere Zone that may be
present on the property.
Mr. Arne O. Birkeland,
P.Eng., acting as Qualified Person as defined by National Instrument 43-101 for
the Scotia Property is responsible for the technical information reported in
this news release.
Further news will be
forthcoming.
About the Company
HAWKEYE Gold & Diamond
Inc. is a junior mineral exploration and development company
based in Vancouver, British Columbia, Canadaand is publicly traded on the TSX Venture Exchange under the trading symbol
HGO. The Company is currently focused on the exploration and development of its
TOP, DART and MINT Properties located in the Yukonand its Scotia Property situated in
northwest British Columbia, Canada. HAWKEYE's corporate philosophy is to build
strong asset value through the exploration, development and ultimate production
of its various mineral projects and creating shareholder value for our
shareholders.
HAWKEYE
GOLD & DIAMOND INC.
Per:
"Greg
Neeld"
President
& CEO
Toll Free: 1-800-665-3624 Email: hko@hawkeyegold.com
Vancouver: 1-604-878-1339 Web Site: www.hawkeyegold.com
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.