Metal Hawk Limited has completed its maiden diamond drilling program at Leinster South, revealing significant high-grade gold intersections at the Thylacine Prospect and identifying new targets through advanced geophysical surveys.
- Maiden diamond drilling program completed with five holes at Thylacine Prospect
- High-grade gold intersections up to 29.9 g/t Au over narrow intervals
- New gold target identified north of Tysons via Sub Audio Magnetic survey
- Second phase of RC drilling planned for March 2026 to test regional targets
- Quarter-end cash position of $2.4 million with $3.2 million in listed investments
Exploration Breakthrough at Leinster South
Metal Hawk Limited (ASX, MHK) has delivered a promising update from its Leinster South project in Western Australia, completing its maiden diamond drilling program at the Thylacine Prospect. The five-hole campaign, totalling 1,595 metres, has intersected multiple zones of high-grade gold mineralisation, confirming and extending earlier discoveries made through reverse circulation (RC) drilling earlier in 2025.
Among the standout results, hole LSD005 returned 2.3 metres at 15.28 grams per tonne (g/t) gold from 28.1 metres, including an exceptional 0.82 metres at 29.9 g/t. These grades are significant, particularly given the mineralisation is hosted not only in quartz veins but also within the gabbro host rock itself, suggesting a broader mineralised system than previously understood.
Advanced Geophysical Surveys Reveal New Targets
Complementing the drilling success, Metal Hawk completed a high-resolution Sub Audio Magnetic (SAM) survey over the Thylacine and Tysons prospects. This survey identified a new 400 by 100-metre gold target north of Tysons, characterised by strong conductivity and structural deformation along the granite-greenstone contact. Early rock chip sampling at the target's edge has already returned encouraging gold grades up to 2.7 g/t, highlighting the potential for further discoveries beneath shallow cover.
Strategic Expansion and Forward Plans
Beyond Leinster South, Metal Hawk has pegged a substantial new 210 square kilometre tenement at Mount Percy, southwest of Laverton, expanding its footprint in a prolific gold region. The company is preparing for a second phase of RC drilling at Leinster South, scheduled to commence in February 2026, focusing on untested eastern and southern areas of the Thylacine Prospect and regional targets at Tysons.
Additional exploration activities include ongoing mapping, sampling, and heritage surveys to clear new prospects for drilling. The Pepperill Hill project will also see renewed regional fieldwork aimed at identifying fresh targets.
Financial Position and Corporate Updates
Metal Hawk ended the quarter with a cash balance of $2.4 million and holds listed investments valued at $3.2 million. The company completed the sale of its Berehaven Project and a 49% interest in the Viking Project during the quarter, streamlining its portfolio. It also maintains a significant 17.4% stake in Talonx Resources Limited, reflecting a strategic investment in the sector.
Exploration expenditure for the quarter was approximately $1.123 million, primarily directed at Leinster South activities. The company remains cautious but optimistic, with plans to monitor cash flow closely while advancing its exploration agenda.
Bottom Line?
Metal Hawk’s latest drilling success and new targets set the stage for a pivotal exploration phase that could redefine its gold potential in Western Australia.
Questions in the middle?
- Will the upcoming RC drilling confirm the continuity and economic viability of the high-grade gold zones?
- How will Metal Hawk manage its cash position amid escalating exploration costs?
- What impact will the new Mount Percy tenement have on the company’s growth trajectory?