Gold Hawk Resources Inc.

Gold Hawk Resources Inc.

July 07, 2005 10:19 ET

Gold Hawk Reports Assay Results From the Cascabamba Property in Peru

TORONTO, ONTARIO--(CCNMatthews - July 7, 2005) - Gold Hawk Resources Inc. (TSX VENTURE:CGK) is pleased to report assay results from the first seven diamond drill holes completed on the Company's Cascabamba silver-gold-copper property located in Peru. The first phase of drilling was designed to test the down dip continuity of the mineralization outlined by historical underground work done by Cerro de Pasco in the 1930's on the Protectora vein. The historical sampling returned high grade assays over a 250 meter strike length (see Press Release dated April 27, 2005). Six of the seven holes were drilled at 50 meter spacing approximately 50 meters below the old underground workings. All of the holes intersected the vein where projected and the assay results are summarized in the following table:

Hole No. From To Intercept Gold Silver Copper
meters g/t g/t %
1 184.90 185.60 0.70 1.56 69.50 1.96
2 161.90 162.25 0.35 0.60 112.00 1.52
3 146.20 146.85 0.65 2.65 127.10 0.42
4 139.45 139.90 0.45 5.60 742.50 0.93
6 51.93 52.80 0.87 NS 140.50 NS

NS - Not significant.

Assay results for holes 5 and 7 were not significant.

The drilling confirmed that the vein extends at least 50 meters below the old underground workings. However, with the exception of diamond drill hole No. 4, the grades were well below the historical assays that were obtained by the previous operators in the underground workings.

The Company is assessing the results of this program to determine the next steps in evaluating the Cascabamba project.

Mr. Alain Vachon, P. Eng. Geologist, is the qualified person as per the 43-101 guidelines responsible for the field supervision of the work completed so far. All samples collected by Gold Hawk have been assayed at the ALS CHEMEX laboratory in Lima, Peru. Gold and silver assays have been performed via fire assay-atomic absorption finish on a 30 gram sample. Gold values over 10 g/t were automatically reanalyzed via fire assay gravimetric finish for gold and multi digestion for silver.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Gold Hawk Resources Inc.
    Mr. Gordon F. Bub
    President and C.E.O.
    (416) 616-3228