Hawk Resources Extends Cactus Corridor Copper-Gold Mineralisation in Utah

Hawk Resources Drills Further Into the Cactus Corridor Story With Shallow Copper Extension in Utah

Hawk Resources (ASX: HWK) has reported new lab assay results from its Cactus copper-gold project in Utah, with diamond drill hole DD26CT005 extending near-surface copper-gold-silver mineralisation to the northwest along the Cactus Corridor. According to the ASX announcement dated 15 June 2026, the hole returned 71.72 metres at 0.45% copper, 0.06 g/t gold and 3.0 ppm silver from 20.3 metres downhole, with mineralisation beginning at a true depth of 14 metres below surface.

The result matters because it supports the view that the mineralised corridor at Cactus may be larger than earlier drilling had indicated. Furthermore, it adds another shallow intercept to a growing set of results that point to a broad near-surface copper system containing higher-grade zones within it.

Does DD26CT005 Extend the Mineralised Corridor to the Northwest?

In the announcement, Hawk said DD26CT005 was drilled to test whether the shallow copper mineralisation previously intersected in DD26CT003 continued further northwest. The reported assays indicate that it does.

Within the broader intercept, Hawk reported two higher-grade zones:

• 5.80 metres at 1.35% copper, 0.33 g/t gold and 13 ppm silver from 30.8 metres downhole
• 4.26 metres at 2.19% copper, 0.13 g/t gold and 14 ppm silver from 54.9 metres downhole

The company stated that the 71.72-metre mineralised interval is interpreted to have an estimated true thickness of about 33 metres. That is an important distinction for investors because the actual width of mineralisation in the ground is more relevant than the longer interval measured along the angle of the drill hole.

The hole was drilled from the same platform as DD26CT003 and passed close to historical hole R-31, while crossing the interpreted corridor at a shallower depth than historical hole ALCA013.

Historical drill results cited by Hawk were not generated under modern QAQC standards and are described by the company as indicative of exploration potential only.

Management Says the Corridor Remains Open

Hawk Managing Director Scott Caithness said the new hole not only extends mineralisation northwest from DD26CT003, but also supports reinterpretation of historical data in the area.

"Hole DD26CT005 has extended the near surface copper mineralisation intersected in DD26CT003 to the northwest and verified the copper intercepts in historical holes R-31 and ALCA013," said Scott Caithness, Managing Director of Hawk Resources.

"A review of the hole ALCA013 data has highlighted that the deeper high-grade zone of 13m @ 1.57% Cu also sits within a 50.5m intercept grading 0.64% Cu which reinforces the possibility that a much larger lower grade copper mineralised body exists at Cactus."

That interpretation is significant because Hawk said historical holes R-2 and R-3 may have been drilled off the northern edge of the trend, while R-4 and R-5 only have limited assay data due to poor sample recovery. In practical terms, this means the northwestern part of the corridor may not have been properly tested.

For investors, that leaves room for further drilling to determine whether the near-surface mineralisation links up across a broader strike length.

Molybdenum Adds Another Geological Signal

Alongside copper, DD26CT005 also returned a zone of 32.9 metres at 0.016% molybdenum from 59.1 metres downhole. Hawk described this as another highly anomalous molybdenum intersection within the Cactus Corridor.

This is now the third hole referenced by the company to contain notable molybdenum:

According to the announcement, the molybdenum zone is consistent with prior holes and remains open. Hawk also noted that the older vertical "R" holes drilled in 1964 were not assayed for molybdenum, gold or silver, meaning earlier exploration did not fully assess the system's broader metal signature.

The company's geological logging recorded chalcopyrite and pyrite sulphides within altered intrusive rocks and tourmaline-rich breccia. In simpler terms, the rocks hosting the copper appear to fit a style often associated with large intrusive-related mineral systems that can include copper, gold, silver and molybdenum.

Why True Thickness Matters in Drilling Results

For non-specialist investors, true thickness is one of the more useful concepts to understand when assessing exploration updates.

A drill hole cuts through rock at an angle. Because of that, the reported downhole interval can look longer than the actual thickness of the mineralised zone in the ground. True thickness is the company's estimate of that real width after adjusting for the angle of drilling and the orientation of the mineralised structure.

In DD26CT005, Hawk reported:

• 71.72 metres downhole mineralisation
• Starting from 20.3 metres downhole
• Equivalent to about 14 metres below surface
• With an estimated true thickness of approximately 33 metres

That matters because a 33-metre true width near surface can be more meaningful than a long angled interval deeper underground. Shallow, wider mineralisation may be easier to evaluate in future economic studies, although Hawk has not reported any mining study, resource estimate or development case in this announcement.

Quick Glossary for Investors

• True thickness: The estimated actual width of a mineralised zone in the ground.
• Downhole interval: The length measured along the drill hole, which may be longer than the real width.
• Breccia: A rock made up of broken fragments cemented together. At Cactus, these rocks host much of the copper mineralisation.
• Porphyry-style system: A large intrusive-related mineral system that can contain copper, gold and molybdenum over broad areas.
• ppm: Parts per million, commonly used for silver or molybdenum grades.
• g/t: Grams per tonne, the standard unit for reporting gold grades.

July Drilling Programme Provides the Next Clear Catalyst

The announcement stated that preparations are underway to recommence drilling in July 2026. Hawk plans to drill 10 shallow holes spaced at 50-metre intervals along the Cactus Corridor from Cactus toward the historical Comet mine.

This next phase is designed to test a corridor that extends for about 1 kilometre from the historical Comet deposit, through the Cactus mine, and towards the New Years prospect. Hawk said the near-surface mineralisation dips steeply to the northeast and remains open toward New Years, around 270 metres to the northwest.

Past drilling at Comet is also part of the wider story. Hawk noted that historical holes there intersected significant gold mineralisation from surface, including a best reported result of 25.9 metres at 1.53 g/t gold.

The company also reported that DD26CT002, drilled into a separate geophysical target about 300 metres southeast of DD26CT005, did not encounter copper mineralisation. Assays were described as low order, with all samples below 350 ppm copper, 0.05 g/t gold, 0.5 ppm silver and 20 ppm molybdenum. That balanced detail is relevant because it shows not every hole in the broader Cactus project area is returning mineralised results.

What the Latest Cactus Results Could Mean for Investors

The latest announcement adds weight to a specific exploration thesis rather than proving an economic deposit. That distinction matters considerably.

First, the corridor is showing repeat shallow copper intersections. DD26CT003 and DD26CT005 both reported broad intervals near surface, and both include higher-grade copper zones within a larger lower-grade halo.

Second, the new hole appears to support continuity between modern drilling and older holes such as R-31 and ALCA013. If future drilling confirms that this mineralisation links up along strike, Hawk may be dealing with a larger near-surface footprint than previously mapped.

Third, the presence of gold, silver and molybdenum alongside copper may help geologists understand the scale and style of the system. However, it does not, on its own, prove economic value — it does broaden the geological picture at Cactus.

Key Milestones to Watch

Finally, the immediate newsflow is well defined. Investors now have a clear set of upcoming milestones to monitor:

• Results from the planned 10-hole July 2026 programme
• Remaining assays from DD26CT001
• Evidence on whether mineralisation can be traced between Cactus and Comet
• Any follow-up interpretation on the size of the broader mineralised body

Hawk's latest ASX update positions Cactus as a near-surface copper-gold exploration story with a growing data set and a short-term drilling schedule already in preparation. The next phase of drilling is likely to be central in determining whether the Cactus Corridor remains a series of isolated intersections or develops into a more continuous mineralised trend across the project area.

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