Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Hawthorn Resources Limited ( (AU:HAW) ) just unveiled an announcement.
Hawthorn Resources Limited has completed a significant drilling program at its Anglo Saxon Gold Project, yielding high-grade gold results. The program, consisting of 53 holes and 7,846 meters of reverse circulation drilling, aims to update the existing Mineral Resource Estimate. The results indicate strong continuity in gold mineralization, with several intervals showing grades over 30 g/t. These findings, coupled with record gold prices, suggest the potential for expanding the open pit operations as a viable alternative to underground mining. The joint venture has engaged BMGS to update the resource estimate and conduct an open pit optimization study, with plans to negotiate with third parties for development. Hawthorn Resources is well-capitalized to fund the next development stage, positioning itself advantageously in the current market.
More about Hawthorn Resources Limited
Hawthorn Resources Limited is a company operating in the mining industry, primarily focused on gold exploration and development. The company is involved in the Anglo Saxon Gold Project through the Trouser Legs Joint Venture, where it holds a 70% stake, with Gel Resources Pty Ltd holding the remaining 30%. The project is located in Pinjin, Western Australia, an area known for its historical gold production.
Average Trading Volume: 144,503
Technical Sentiment Signal: Buy
Current Market Cap: A$26.8M
Learn more about HAW stock on TipRanks’ Stock Analysis page.