Hawkeye Provides an Update ON Future Exploration Plans at Its Mcbride Property and Reports Results from 2019 Drilling
HAWKEYE GOLD & DIAMOND INC.
Suite M202 – 1985 Alberni Street, Vancouver, B.C., Canada V6G 0A2
Phone: (778) 379-5393 • Fax: (778) 379-5396 • www.hawkeyegold.com
TSX VENTURE EXCHANGE - HAWK
May 5, 2020 TSX Venture Exchange Listed
Frankfurt Exchange Listed
News Release No. 343 – 2020
HAWKEYE PROVIDES AN UPDATE ON FUTURE EXPLORATION PLANS AT ITS
MCBRIDE PROPERTY AND REPORTS RESULTS FROM 2019 DRILLING
Vancouver, British Columbia - HAWKEYE Gold & Diamond Inc. (the “Company” or
“HAWKEYE") (TSX.V-HAWK; Frankfurt Ticker: HGT; ISIN: CA42016R3027; WKN: A12A61):
is pleased to provide an exploration update for its wholly owned McBride property (the “Property”), and to
announce the results from its 2019 drill program. T he drill program tested what is known as the western
anomaly, one of two Induced Polarization (IP) chargeability highs identified on the Property from a ground-
based survey performed by Dias Geophysical during August and September, 2019.
HAWKEYE’s 56.6 km2 McBride property is situated in the northeast corner of British Columbia’s Golden
Triangle, approximately 12 kilometres north of the Red Chris Cu-Au mine, and 18 kilometres east-northeast
of GT Gold Corp’s Saddle North Cu-Au and Saddle South Au-Ag prospects.
McBride Property Update
Between August and October 2019, the Company expanded the Property by acquiring an additional 14.6
km2 of claims that are contiguous with and lie mainly to the northwest of the previously existing McBride
claim block. The acquisition extends the strike length of an attractive belt of previously outlined mineralized
porphyry and breccia mineral occurrences to over 3 kilometres (fig 1.). The belt encompasses the undrilled
northern chargeability anomaly and th e acquisition has redirected the focus for future exploration at the
McBride Property, with the aim being to systematically explore the belts historical mineral showings and
their depth potential. Planned exploration will include detailed mapping, prospecting and soil geochemical
sampling, followed by further Induced Polarization surveys. This work should help delineate specific drill
targets and possibly the structural controls for a suspected underlying porphyry system.
2019 Diamond Drilling
The 2019 drill program was limited to a single vertical drill hole, MB-19-01, 703.17 metres deep, which
targeted the broad IP chargeability high outlined at the western anomaly (fig. 1). The drill hole intersected
volcanic rocks of dominantly andesitic composition, which vary from fine grained to porphyritic in texture.
The lithologies intersected are interpreted to be flows and fragmental units and high-level intrusions. In thin
sections of the interpreted intrusions, a bundant very fine -grained groundmass feldspar and less common
fine to medium grained feldspar phenocrysts generally display mild alteration to carbonate, epidote-group
minerals, or sericite (fine-grained “white mica”) . Subordinate finer-grained mafic minerals are typically
altered completely to chlorite and epidote , and these alteration minerals are even more abundant in local
crackle-breccia zones observed in thin section. The rocks are cut by local calcite veinlets , with rare
disseminated pyrite. Magnetic highs from the Company’s downhole magnetic susceptibility logs
correspond well with predicted depths of the modeled IP chargeability high, and the relative abundance of
finely disseminated magnetite observed in thin section likely explains the chargeability anomaly. While no
significant sulphide mineralization was intersected, no distinct porphyry -style mineralization was noted,
and no noteworthy copper or gold grades were returned from the samples collected, the Company believes
exploration potential remains. The alteration mineralogy in the drill hole is consistent with the presence of
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HAWKEYE GOLD & DIAMOND INC.
Suite M202 – 1985 Alberni Street, Vancouver, B.C., Canada V6G 0A2
Phone: (778) 379-5393 • Fax: (778) 379-5396 • www.hawkeyegold.com
TSX VENTURE EXCHANGE - HAWK
a weak propylitic assemblage associated with a porphyry system. This alteration, coupled with the presence
of probable porphyritic dykes through much of the length of the drill hol e, suggests strongly that further
systematic exploration around the western target area is warranted.
Mr. Greg Neeld, President & CEO of the Company states “ HAWKEYE remains optimistic after
receiving the initial results from drilling at the western anomaly. The presence of alteration consistent
with distal parts of a porphyry system is encouraging, as is the presence of porphyry dikes. The Company
intends to undertake systematic follow-up work and to use the information gathered to help it vector in on
a potential mineralizing center. Last season, the onset of severe winter weather conditions prevented
Hawkeye from drilling the promising northern IP chargeability target, and as a consequence, t esting this
target remains in the Company’s plans . With its newly acquired tenures and expanded land position, the
Company will continue to focus its exploration efforts on the extensive copper -mineralized trend in tha t
area. I remain very optimistic about the possibilities at McBride, and should the unprecedented COVID-19
pandemic be successfully managed, I will be excited to get crews on the ground to explore the expanded
trend in a systematic fashion, and to build upon the knowledge and experience gained in 2019.”
Qualified Person
Technical information in this news release has been reviewed and approved by Andrew Mitchell, B.Sc., P.
Geo., and a qualified person for the purpose of National Instrument 43-101.
About HAWKEYE
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in
Vancouver, British Columbia, Canada. The Company's precious and base metals properties are located in
the prolific Golden Triangle of northwest BC, in the world-class Barkerville gold camp, and on Vancouver
Island, BC, Canada. HAWKEYE's corporate mandate is to build strong asset growth and shareholder value
through the acquisition of low -cost, high-potential opportunities with discovery potential, and to manage
its business in an environmentally responsible manner while contributing to the local community and
economy.
HAWKEYE GOLD & DIAMOND INC.
Per:
“Greg Neeld”
President & CEO
Vancouver: (778) 379-5393
Email: [email protected]
Web Site: www.hawkeyegold.com
Neither 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.
Cautionary Notes Regarding Forward Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events.
These statements are only predictions and involve known and unknown risks, u ncertainties and other factors that may cause our
or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward -
looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment
regarding the direction of our industry, actual results will almost always var y, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the
Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
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HAWKEYE GOLD & DIAMOND INC.
Suite M202 – 1985 Alberni Street, Vancouver, B.C., Canada V6G 0A2
Phone: (778) 379-5393 • Fax: (778) 379-5396 • www.hawkeyegold.com
TSX VENTURE EXCHANGE - HAWK