# HWK: HWK Microcap Conference Presentation - October 2026

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154498

Publisher: asx

Original announcement: 2026-10-19T22:44:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-19T23:04:43.892Z

Atlas analysis updated: 2026-10-19T23:04:43.892Z

- Company: Hawk Resources Limited

- Ticker: HWK

- Exchange: ASX

- Region: Unavailable

- Primary commodity: Copper

- Secondary commodities: Scandium, Gold, Molybdenum, Silver, Lithium

- Document categories: Other, Drill results

- Extracted: 2026-10-19 23:04:44 UTC

Narrative sentiment: 0.20 · Bullish

## Minestarters Atlas summary

Hawk Resources Limited presented its dual-track growth strategy focusing on scandium in Western Australia and copper in the USA. The company highlighted recent positive drill results from its Cactus Copper project in Utah, including wide, near-surface intercepts of 80m at 0.48% Cu with higher-grade zones up to 5.56% Cu over 1.52m. For its Olympus Scandium project in WA, the company is awaiting lab assays from recent soil sampling and plans for potential maiden JORC resources in 2027 for both projects.

Reasoning: The company presents a positive outlook with recent encouraging copper drill results and a clear strategy for critical minerals, but some projects are still in early stages with historical data limitations.

- Positive factor: Strong recent copper drill results at Cactus Corridor, including wide and high-grade intercepts.

- Positive factor: Strategic focus on critical metals \(copper, scandium\) in Tier-1 jurisdictions.

- Positive factor: Clear roadmap for future exploration and potential maiden resources.

- Positive factor: Experienced leadership team.

- Negative factor: Reliance on historical pXRF data for scandium, which is not JORC compliant and requires lab assays.

- Negative factor: Some recent drill results are still awaiting lab assays.

- Negative factor: Metal equivalent assumptions for historical Meerkat results are not disclosed.

- Negative factor: General nature of an investor presentation means less detailed technical data.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 12

## Classification and evidence

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: The document emphasizes the Meerkat Copper project's location in a 'world class porphyry Cu-Mo belt' and 'world class copper belt' hosting major deposits, suggesting its value premise rests on proximity to known deposits.

Evidence · text

> Meerkat Copper – world class porphyry Cu-Mo belt

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The disclaimer explicitly mentions that 'pre-Hawk assay data from historical exploration were not subject to modern quality assurance and quality control practices and hence are not JORC compliant'.

Evidence · text

> The Company stresses that the pre-Hawk assay data from historical exploration were not subject to modern quality assurance and quality control practices and hence are not JORC compliant.

## Extracted facts

Stored fact records: 12. Some facts used in scoring do not have a stored record.

## Drill Results (12)

### DD26CT003

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-0)

Cactus · copper

#### Identity

- Hole ID: DD26CT003
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 0.48
- Grade Unit: %
- Intercept: 80 m
- True Width: 53 m
- From: 0 m
- To: 80 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: DD26CT003:0-80
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A wide, near-surface intercept with moderate copper grade and disclosed true width, though the grade is below the project average.

- Positive factor: Wide intercept

- Positive factor: Near surface

- Positive factor: True width disclosed

- Negative factor: Grade is below project average

Evidence · text

> Intersected 80m @ 0.48% Cu from surface which includes 19.5m @ 1.25% Cu from a depth of 44m

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

Definition: Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true\_width\_m is 53

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Apparent Width Only** — Rejected; excluded from scoring

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Reason: The document states '53m potential true thickness' for the 80m intercept, indicating the 80m is apparent width.

Evidence · text

> 53m potential true thickness of copper mineralised zone

**Wide Intercept** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: The intercept length of 80m is significantly wide.

Evidence · text

> 80m @ 0.48% Cu

**Near Surface** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: The intercept starts from surface.

Evidence · text

> from surface

### DD26CT003

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-1)

Cactus · copper

#### Identity

- Hole ID: DD26CT003
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 1.25
- Grade Unit: %
- Intercept: 19.5 m
- From: 44 m
- To: 63.5 m
- Intercept Depth: 44 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: DD26CT003:44-63.5
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A strong grade sub-interval within a wider intercept, indicating higher-grade zones within the mineralization.

- Positive factor: Strong grade for porphyry deposit type

- Positive factor: Good intercept width

Evidence · text

> 19.5m @ 1.25% Cu from a depth of 44m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Strong Grade** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 1.25% Cu is considered strong for a porphyry deposit \(rubric: strong ≥0.8%\).

Evidence · text

> 1.25% Cu

### DD26CT003

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-2)

Cactus · copper

#### Identity

- Hole ID: DD26CT003
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 5.56
- Grade Unit: %
- Intercept: 1.52 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: DD26CT003:0-80
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: An exceptionally high-grade copper sample, indicating bonanza-grade mineralization within the broader intercept, despite its narrow width.

- Positive factor: Exceptional grade for porphyry deposit type

- Negative factor: Narrow intercept width

Evidence · text

> 5.56% Cu maximum sample assay over 1.52m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Bonanza Intercept** — Rejected; excluded from scoring

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Reason: 5.56% Cu is an exceptional grade for a porphyry deposit \(rubric: exceptional ≥2.5%\).

Evidence · text

> 5.56% Cu

### DD26CT003

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-3)

Cactus · molybdenum

#### Identity

- Hole ID: DD26CT003
- Project: Cactus
- Commodity: molybdenum
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 0.03
- Grade Unit: %
- Intercept: 36.1 m
- From: 26 m
- To: 62.1 m
- Intercept Depth: 26 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: DD26CT003:26-62.1
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A wide intercept with weak molybdenum grade, providing a byproduct credit.

- Positive factor: Good intercept width

- Negative factor: Weak grade

Evidence · text

> Intersected 36.1m @ 0.03% Mo from 26m below surface

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### SAWM0001

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-4)

Cactus · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: SAWM0001
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 1.9
- Grade Unit: %
- Intercept: 41 m
- From: 252 m
- To: 293 m
- Hole Depth: 243 m
- Intercept Depth: 252 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: SAWM0001:252-293
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A strong historical copper intercept with good width, providing context for the project's potential.

- Positive factor: Strong historical grade

- Positive factor: Good intercept width

- Negative factor: Historical data, not JORC compliant

Evidence · text

> SAWM0001: 41m @ 1.9% Cu, 0.6g/t Au from 252m down hole

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: This is a historical drill result from pre-Hawk exploration.

Evidence · text

> SAWM0001: 41m @ 1.9% Cu, 0.6g/t Au from 252m down hole

**Strong Grade** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 1.9% Cu is considered strong for a porphyry deposit \(rubric: strong ≥0.8%\).

Evidence · text

> 1.9% Cu

**Wide Intercept** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: The intercept length of 41m is wide.

Evidence · text

> 41m @ 1.9% Cu

### SAWM0001

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-5)

Cactus · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: SAWM0001
- Project: Cactus
- Commodity: gold
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 0.6
- Grade Unit: g/t
- Intercept: 41 m
- From: 252 m
- To: 293 m
- Hole Depth: 243 m
- Intercept Depth: 252 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: SAWM0001:252-293
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A wide historical gold intercept with weak grade, providing a byproduct credit.

- Positive factor: Good intercept width

- Negative factor: Weak historical grade

- Negative factor: Historical data, not JORC compliant

Evidence · text

> SAWM0001: 41m @ 1.9% Cu, 0.6g/t Au from 252m down hole

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: This is a historical drill result from pre-Hawk exploration.

Evidence · text

> SAWM0001: 41m @ 1.9% Cu, 0.6g/t Au from 252m down hole

**Weak Grade** — Rejected; excluded from scoring

Polarity: negative

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 0.6 g/t Au is considered weak for a porphyry deposit \(rubric: weak ≥0.15 g/t, moderate ≥0.3 g/t\).

Evidence · text

> 0.6g/t Au

**Wide Intercept** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: The intercept length of 41m is wide.

Evidence · text

> 41m @ 1.9% Cu

### NY24DDH3

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-6)

Cactus · copper

#### Identity

- Hole ID: NY24DDH3
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 1.31
- Grade Unit: %
- Intercept: 26 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A strong copper intercept with good width from the New Years area.

- Positive factor: Strong grade for porphyry deposit type

- Positive factor: Good intercept width

Evidence · text

> NY24DDH3: 26m @ 1.31% Cu

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Strong Grade** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 1.31% Cu is considered strong for a porphyry deposit \(rubric: strong ≥0.8%\).

Evidence · text

> 1.31% Cu

### NY24DDH2

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-7)

Cactus · copper

#### Identity

- Hole ID: NY24DDH2
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 0.78
- Grade Unit: %
- Intercept: 30 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A moderate copper intercept with good width from the New Years area.

- Positive factor: Moderate grade for porphyry deposit type

- Positive factor: Good intercept width

Evidence · text

> NY24DDH2: 30m @ 0.78% Cu incl 8.0m @ 1.31% Cu

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Moderate Grade** — Rejected; excluded from scoring

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 0.78% Cu is considered moderate for a porphyry deposit \(rubric: moderate ≥0.25%\).

Evidence · text

> 0.78% Cu

### NY24DDH2

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-8)

Cactus · copper

#### Identity

- Hole ID: NY24DDH2
- Project: Cactus
- Commodity: copper
- Region: usa\_ut
- Reported Region: usa\_ut
- Ticker: HWK

#### Geometry

- Grade: 1.31
- Grade Unit: %
- Intercept: 8 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: NY24DDH2:from\_depth\_m-to\_depth\_m
- Mining Method: mixed

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A strong grade sub-interval within a wider intercept, indicating higher-grade zones within the mineralization.

- Positive factor: Strong grade for porphyry deposit type

- Positive factor: Moderate intercept width

Evidence · text

> 8.0m @ 1.31% Cu

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Strong Grade** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 1.31% Cu is considered strong for a porphyry deposit \(rubric: strong ≥0.8%\).

Evidence · text

> 1.31% Cu

### R-30

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-9)

Meerkat

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: R-30
- Project: Meerkat
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: HWK

#### Geometry

- Intercept: 14.9 m
- From: 71.3 m
- To: 86.2 m
- Intercept Depth: 71.3 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: R-30:71.3-86.2
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Metal Equivalent

- Metal Eq. Grade: 0.35
- Metal Eq. Unit: % Cu Eq
- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A historical copper equivalent intercept with weak grade and undisclosed metal equivalent assumptions.

- Negative factor: Weak historical grade

- Negative factor: Metal equivalent assumptions not disclosed

- Negative factor: Historical data, not JORC compliant

Evidence · text

> 14.9m @ 0.35% Cu Eq from 71.3m down hole \(R-30\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: This is a historical drill result.

Evidence · text

> 14.9m @ 0.35% Cu Eq from 71.3m down hole \(R-30\)

**Metal Equivalent Opaque** — Rejected; excluded from scoring

Polarity: negative

Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Reason: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Evidence · text

> 0.35% Cu Eq

**Weak Grade** — Rejected; excluded from scoring

Polarity: negative

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 0.35% Cu is considered weak for a porphyry deposit \(rubric: weak ≥0.15%\).

Evidence · text

> 0.35% Cu Eq

### R-33

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-10)

Meerkat

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: R-33
- Project: Meerkat
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: HWK

#### Geometry

- Intercept: 48 m
- From: 26.1 m
- To: 74.1 m
- Intercept Depth: 26.1 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: R-33:26.1-74.1
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Metal Equivalent

- Metal Eq. Grade: 0.47
- Metal Eq. Unit: % Cu Eq
- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A wide historical copper equivalent intercept with moderate grade and undisclosed metal equivalent assumptions.

- Positive factor: Good intercept width

- Negative factor: Metal equivalent assumptions not disclosed

- Negative factor: Historical data, not JORC compliant

Evidence · text

> 48.0m @ 0.47% Cu Eq from 26.1m down hole \(R-33\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: This is a historical drill result.

Evidence · text

> 48.0m @ 0.47% Cu Eq from 26.1m down hole \(R-33\)

**Metal Equivalent Opaque** — Rejected; excluded from scoring

Polarity: negative

Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Reason: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Evidence · text

> 0.47% Cu Eq

**Moderate Grade** — Rejected; excluded from scoring

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 0.47% Cu is considered moderate for a porphyry deposit \(rubric: moderate ≥0.25%\).

Evidence · text

> 0.47% Cu Eq

**Wide Intercept** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: The intercept length of 48m is wide.

Evidence · text

> 48.0m @ 0.47% Cu Eq

### R-33

[Link to this fact](https://atlas-staging.minestarters.com/news/hwk-hwk-microcap-conference-presentation-october-2026--faa342ba-41f0-40cd-95f3-9e1492790db8#fact-drill-facts-11)

Meerkat

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: R-33
- Project: Meerkat
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: HWK

#### Geometry

- Intercept: 7.2 m
- From: 127.9 m
- To: 135.1 m
- Intercept Depth: 127.9 m

#### Classification

- Deposit Type: porphyry
- Program: exploration
- Sample Type: drill
- Group ID: R-33:127.9-135.1
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- QP Signed: No

#### Metal Equivalent

- Metal Eq. Grade: 0.91
- Metal Eq. Unit: % Cu Eq
- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2026-10-19T00:00:00.000Z

Reasoning: A strong historical copper equivalent intercept with narrow width and undisclosed metal equivalent assumptions.

- Positive factor: Strong historical grade

- Negative factor: Narrow intercept width

- Negative factor: Metal equivalent assumptions not disclosed

- Negative factor: Historical data, not JORC compliant

Evidence · text

> 7.2m @ 0.91% Cu Eq from 127.9m down hole \(R-33\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: This is a historical drill result.

Evidence · text

> 7.2m @ 0.91% Cu Eq from 127.9m down hole \(R-33\)

**Metal Equivalent Opaque** — Rejected; excluded from scoring

Polarity: negative

Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Reason: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.

Evidence · text

> 0.91% Cu Eq

**Strong Grade** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: 0.91% Cu is considered strong for a porphyry deposit \(rubric: strong ≥0.8%\).

Evidence · text

> 0.91% Cu Eq

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.