Hawk Exercises Option over the Olympus Scandium Project

Key points

• Hawk exercises option to acquire 80% interest in Olympus Scandium Project
• Exploration to commence in September following approvals
• Initial phase includes soil sampling to verify high-grade scandium zones
• Olympus potentially hosts a new scandium province

Full summary

Hawk Resources Limited has exercised its option to acquire an 80% interest in the Olympus Scandium Project in Western Australia's West Musgrave region. The exercise follows receipt of all Traditional Owner and Government consents, enabling the commencement of exploration. Initial exploration will involve a soil sampling program designed to confirm and extend zones of high-grade scandium identified in historical samples. The project potentially hosts a new scandium province, as indicated by a +500ppm scandium soil anomaly over a 7km x 4km area. The exploration will be the first at Olympus since 2008.