{"id":2206,"date":"2023-11-24T01:52:09","date_gmt":"2023-11-24T01:52:09","guid":{"rendered":"https:\/\/economicherald.net\/?p=2206"},"modified":"2023-11-24T01:52:09","modified_gmt":"2023-11-24T01:52:09","slug":"metal-hawk-raises-3-5m-to-ramp-up-yarmany-lithium-drilling","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2206","title":{"rendered":"Metal Hawk raises $3.5m to ramp up Yarmany lithium drilling"},"content":{"rendered":"

Metal Hawk raises $3.5m through strong support from investors
\nExisting shareholders and directors have also backed the placement
\nProceeds from the placement will expand lithium exploration and drilling at Yarmany
\nRC drilling to test anomalies and targets around the F-camp prospect to start in early December<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em><\/strong> Experienced resource investors have demonstrated their support for Metal Hawk by strongly backing its placement of 19.4 million shares priced at 18c each to raise $3.5m.<\/strong><\/p>\n

Metal Hawk (ASX:MHK)<\/strong><\/a> is currently focused on advancing its Yarmany lithium and nickel project within the lithium-rich Ida Fault in the WA Goldfields region.<\/p>\n

This region is an emerging world-class lithium precinct, hosting the likes of Liontown Resources\u2019 (ASX:LTR)<\/strong><\/a>\u00a0156Mt @ 1.4% Li2O Kathleen Valley and\u00a0Delta Lithium\u2019s (ASX:DLI)<\/strong><\/a>\u00a012.7Mt @ 1.2% Li2O Mt Ida projects.<\/p>\n

Historical work has confirmed a favourable geological setting with potential for pegmatite-hosted lithium and komatiite-hosted nickel sulphide mineralisation while recent mapping by the company had outlined a 1km long and 140m wide pegmatite from rock chip sampling that returned up to 1,268 parts per million (ppm) Li2O at the F-Camp prospect.<\/p>\n

This led the company to kick off a drill program earlier this month<\/strong><\/a> to determine if Yarmany will be the next big Goldfields lithium deposit within the Ida Fault.<\/p>\n

This includes aircore drilling that will include several traverses and carefully placed angled holes to determine the orientation and depth of weathering of the F-camp pegmatite target.<\/p>\n

\u00a0<\/p>\n

Placement to expand Yarmany exploration<\/strong><\/h2>\n

Resource investors \u2013 including many existing shareholders \u2013 have now made firm commitments to subscribe for just under 19.2 million shares priced at 18c each \u2013 a 21.1% discount to the five-day volume weighted average price prior to the placement \u2013 to expand lithium exploration and drilling at Yarmany.<\/p>\n

Subject to shareholder approval, directors in the company have also demonstrated their confidence by subscribing for a further 255,556 shares.<\/p>\n

Proceeds will be used to prioritise drilling and continued generation of new targets at Yarmany through a range of activities such as aircore and RC drilling, geophysics, auger\/geochemistry and native title\/heritage surveys.<\/p>\n

Metal Hawk\u2019s Yarmany project. Pic: Supplied (MHK).<\/p>\n

\u201cWe are very pleased with the strong level of support from new and existing shareholders,\u201d managing director Will Belbin said.<\/p>\n

\u201cWe are leading into a very exciting period of exploration activity at Yarmany and the Metal Hawk team is keen to advance drilling at F Camp and other prospects.\u201d<\/p>\n

\u201cIt\u2019s great that we are now well funded to aggressively explore this highly prospective project,\u201d Will Belbin told\u00a0Stockhead<\/em><\/p>\n

\u00a0<\/p>\n

Next steps<\/strong><\/h2>\n

Besides ongoing aircore drilling, MHK is also planning to test a number of other geochemical lithium anomalies and targets around the F-camp prospect area using reverse circulation drilling, which will commence in early December.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Metal Hawk, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Metal Hawk raises $3.5m to ramp up Yarmany lithium drilling<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Metal Hawk raises $3.5m through strong support from investors Existing shareholders and directors have also backed the placement Proceeds from the placement will expand lithium [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2207,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nMetal Hawk raises $3.5m to ramp up Yarmany lithium drilling - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=2206\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metal Hawk raises $3.5m to ramp up Yarmany lithium drilling - 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