Exploration Advances at Cactus: New Anomalies Raise Stakes for Hawk Resources

Exploration Breakthrough at Cactus

Hawk Resources Limited (ASX, HWK) has reported a significant advancement in its exploration efforts at the Cactus copper-gold project in Utah, USA. The June 2025 quarterly activities report reveals the identification of six new copper soil anomalies through portable XRF (pXRF) soil assays, each coinciding with compelling geophysical targets such as chargeability highs and magnetic lows. These findings suggest multiple prospective zones for copper mineralisation beyond the historical Cactus-Comet mining area.

Among these, the Cactus-Comet zone itself continues to impress, with soil copper grades reaching as high as 0.9%, albeit potentially influenced by contamination from past mining. The CZ-6 anomaly stands out with copper grades up to 0.1%, representing more than sixteen times the background level, and is associated with a strong +50mV chargeability anomaly, indicative of sulphide mineralisation.

Expanding the Gold Potential

In addition to copper, Hawk has delineated a 1.1-kilometre gold soil anomaly extending southeast from the historic Cactus mine. Laboratory assays returned gold grades up to 1.24 grams per tonne, confirming and extending historical drill intersections and rock samples from the Comet deposit. Notably, gold shows a strong geochemical association with silver, arsenic, and antimony, elements that may serve as pathfinders in future exploration targeting.

These multi-element correlations suggest that the gold mineralising event may be distinct from the copper mineralisation, offering a dual exploration opportunity within the same district. Hawk is currently reviewing pXRF assay data for silver, antimony, and arsenic to refine gold target identification ahead of planned drilling.

Strategic Corporate Developments

Alongside exploration progress, Hawk Resources has commenced trading its ordinary shares on the OTCID Market in the United States under the symbol HAWRF. This move aims to facilitate US investor participation by providing direct access to Hawk’s disclosures and trading in US dollars during American market hours. The company continues to trade on the ASX under ticker HWK.

On the lithium front, Hawk has rationalised its Brazilian portfolio following the acquisition of Parabolic Lithium Pty Ltd. The company relinquished sixteen exploration licences while retaining nine in Minas Gerais, focusing on areas with higher potential. The transfer of these projects to Hawk is underway, consolidating its position in critical metals exploration.

Financial and Operational Outlook

Hawk’s quarterly cash flow report shows ongoing investment in exploration activities, with approximately $0.191 million spent on soil sampling and assays at Cactus. The company maintains a stable cash position of $949,000 at quarter-end, supported by prudent financial management. Upcoming plans include detailed assay reviews and securing drill permits to test the newly identified geophysical and geochemical targets in Q3 2025.

Managing Director Scott Caithness emphasised the importance of these findings, highlighting the prioritisation of copper targets and the promising gold anomaly that could unlock further value. The company’s strategy to integrate multi-element geochemistry with geophysical data underscores a methodical approach to exploration in a historically productive yet under-explored district.