Drilling Commences at Numbat Lode and MHK Raises $1.2M

Key points

• RC drilling started at Numbat targeting high-grade mineralisation
• $1.2M raised via placement at 9.5 cents per share
• Funds will support ongoing exploration and drilling activities

Full summary

Metal Hawk Limited (ASX: MHK) has commenced reverse circulation (RC) drilling at its Numbat lode within the Thylacine prospect at the Leinster South project in Western Australia. The drilling follows a successful placement raising $1.2 million (before costs) from sophisticated investors at 9.5 cents per share. The funds will be used to support the ongoing RC drilling program at Numbat, planned diamond drilling, regional exploration, and general working capital purposes. Initial assay results from the drilling are expected within 6-8 weeks.