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Hawthorne
Gold Corp. (Pink Sheets: HWTHF)
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Dear StockUpTicks Reader:
As gold continues to perform, hitting a seven month high and still in
the $900+ per ounce stratoshpere we're elated to bring you a gold story
with a lot to talk about. As you consider the price of gold, the fabled
metal's historic role in uncertain times, and the fact that gold is again
rising, perhaps today's featured company Hawthorne Gold Corp. (TSX-V:
HGC), (PINK SHEETS:HWTHF), may be arriving in your in-box at the perfect
time. With this in mind, please take a few moments to review today's Profile
on Hawthorne Gold Corp. We think you'll agree that this isn't your everyday
gold company.
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About Hawthorne Gold Corp. |
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COMPANY: Hawthorne Gold
Corp.
SYMBOL: (Pink Sheets:
HWTHF)
(TSX Venture: HGC)
LOCATION: Mining Friendly
British Columbia, Canada
STATUS: Permitted,
Building Resources, Operating Mill, Underground Workings, Tailings Pond,
Access, Airstrip Nearby
START-UP: GOLD PRODUCTION
LATE 2009
WEBSITE: www.hawthornegold.com |
View
a corporate video on Hawthorne Gold created by B-TV Business Television HERE
| Experienced Management: Mining Industry Veterans Richard Barclay and Michael Beley (see below),
who co-founded both Bema Gold and Eldorado
Gold
Proven Track Record and Growth
Model: Utilize experienced team to recognize opportunities, acquire
and develop strategic assets, and create the foundation for success |
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High Grade Mining Operation: Historical Grade 0.5 oz/ton
2009 Focused Drill Programs: 10,000 metres at Table Mountain
Operational Team: VP Operations-
25 Year Veteran Michael Petrina, P.Eng., MBA (see below)
Projects:
Three Advanced Stage Gold Projects in British Columbia in two proven
gold districts |
View a Corporate Presentation
by clicking on the image below
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Investment Highlights |
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Investment Highlights
• Experienced management team
that co-founded Bema Gold in the 1980s and co-founded Eldorado Gold in
the 1990s
Led by respected company builders Richard Barclay and Michael Beley
• Three advanced stage gold projects
in British Columbia, Canada
Table Mountain Deposit -high grade vein deposits with permitted and operational
mill
Taurus Deposit -multi-million ounce, open pit, bulk tonnage opportunity
Frasergold Deposit -multi-million ounce, open pit, bulk tonnage opportunity
• Dedicated to growth through drilling,
development and acquisitions
Focused on becoming a junior gold producer by working towards production
at Table Mountain in late 2009
Continued resource development at the Frasergold and Taurus deposits
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Hawthorn Gold Corp. Projects |
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Cassiar Gold Camp
Table Mountain and Taurus Deposits
Property Description
• 56,300 hectare claim boundary encompassing majority of gold camp
• Historical production of 500,000 ouncesat approximately 0.5 ounces
per ton(~15 g/t)Location/Access
• Highway 37 crosses property
• Approximately 140 Km to Watson
Lake and 115 Km to Dease Lake
• 12 Km to Cassiar airstrip |
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CLICK
HERE to view an independent NI 43-101 technical report (Update of Technical
Report on the Table Mountain Property, Liard Mining District, BC on the
Table Mountain Property prepared by Beacon Hill Consultants (1988) Ltd.
- June 1, 2008) (pdf file - 6.8 MB) |
The wholly-owned Table Mountain gold mine is a high-grade, underground
mining operation located in northern British Columbia. The historic Cassiar
Gold Belt is a 23 kilometre long greenstone hosted quartz carbonate
formation that stretches from Mount McDame in the north to Juniper Mountain
in the southeast. The historic mining operations and McDame River have
produced just over 500,000 ounces of gold from various mills and placer
operations.
Numerous small mines processed high-grade ore starting in 1934. This
was followed in 1978 by larger-scale underground mining and processing,
first as the Erickson gold mine, then the Cusac gold mine. During this
period, mine operators opened 13 portals to access Table Mountain's widespread
gold mineralization. The operation and support facilities at the Table
Mountain gold mine, which shut down in October 2007, consist of a 300-ton-per-day,
gravity flotation mill, power plant, assay laboratory and permitted tailings
pond.
Gold mineralization at Table Mountain is hosted in a greenstone quartz
carbonate gold system that is typical of some of Canada's largest gold
camps, including Timmins, Kirkland Lake and Val d'Or. Hawthorne plans to
undertake a geological reconnaissance and drilling programs in 2008 with
the goal of working towards gold production in 2009. |
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Taurus Project
The company has prepared a NI 43-101 report (Wardrop
Engineering Inc. - Technical Report on the Taurus Deposit - Liard Mining
District, BC - dated June 11, 2007) regarding the Taurus Property and can
be viewed here
in PDF format . |
The Taurus project is a large-tonnage, low-grade gold deposit.
It is a former producer and has been explored for approximately 25 years.
It is an advanced-stage exploration target that hosts a National Instrument
43-101 compliant inferred resource of 1.04 million ounces of gold. This
resource, which was confirmed in a June 2007 technical report, consists
of 32.4 million tonnes at an average gold grade of 1.0 g/t using a cut-off
grade of 0.5 g/t.
The project comprises wholly-owned mineral claims and the wholly-owned
Taurus II property, which has been drilled over the last two years. This
drilling expanded the mineralization with grade intercepts in a range similar
to the known resource of 1.0 g/t gold.
A former high-grade, small underground gold mine, the Taurus deposit
was actively operated in the early 1950s and again in the early 1980s.
The high-grade areas were eventually abandoned and attention turned to
a large low-grade mineralized zone, where approximately 370 holes have
been drilled.
The land package consists of a contiguous 56,300-hectare package on
the Cassiar Gold Belt.
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Frasergold Project
The Frasergold Property is located in the historic
Quesnel Trough of central British Columbia, approximately 100 kilometres
east of Williams Lake, BC. The Company entered into an agreement to acquire
up to 60% interest in the Frasregold Deposit from Eureka Resources Inc.
(TSX-V: EUK) and up to a 70% interest from Dajin Resources Corp. (TSX-V:
DJI) on surrounding claims.
The property is road accessible by a series of paved
and gravel surfaced roads that lead east from 150 Mile House at highway
97 north to the village of Horsefly and along the Horsefly River to Mackay
River. Recent logging activities have provided a series of tracks that
provide good access to most of the exploration areas on the property. Click HERE for
a summary report. |
The Company completed its summer work program at Frasergold which included a 58 hole drill program (10,405 metres) on the Main Zone
and step-out drilling along strike. The goal is to gain a better understanding
of the size and potential of the deposit and define a National Instrument
("NI") 43-101 compliant gold resource estimate within the Main Zone.
Of the 58 drill holes, a total of 31 holes intersected quartz/carbonate
boudinaged ribbon vein systems containing visible gold ("VG"). Most of
the drilling was concentrated in the Main Zone where 16 of 43 holes intersected
VG. Other interesting results to date were step out holes northwest and
along strike from the Main Zone, drilling in this area intersected VG in
10 of 12 holes. The 58 holes were completed as part of a resource confirmation
program within the two kilometer Main Zone that lies within a ten kilometer
long gold mineralized zone.
The Company completed its summer and fall work program in December 2007,
which included a 16 hole drill program (3,617 metres), a series of 211
vertical channel samples taken across the entire 130 metre strike length
of the underground workings and a series of eleven 200 kilogram bulk samples
across the same length of the channel samples.
The Company believes the gold distribution throughout the deposit is
better represented through the bulk and channel samples noting the nugget
effect through the system. Published documents from the Paracatu (Brazil),
Macraes (New Zealand), and Bendigo (Australia) gold deposits, which are
similar geologically and mineralogically, confirm that the larger the sample,
the more accurate a determination of the head grade of deposits where coarse
gold is present within the mineralized system. |
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Hawthorne Gold Corp. Management Team |
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Richard Barclay
President, Chief Executive Officer, and Director
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Mr. Barclay has been a director of the Company
since June, 2006 and the President and Chief Executive Officer since October,
2006. Since December 2004, Mr. Barclay has been the Chief Financial Officer
and director of Adriana Resources Inc., a TSX-V listed mineral exploration
and development company with a development-stage iron ore port facility
in Brazil, advanced mineral projects in Quebec, Canada. From 2002 until
2005, Mr. Barclay was Chief Executive Officer of Nevada Pacific Gold Ltd.,
formerly a TSX-V listed company which was acquired by U.S. GOLD in April
2007. He was a co-founder and the President, Chief Executive Officer and
director of Eldorado Gold Corporation, a TSX listed company, from 1992
to 1998. Eldorado operated gold mines in Mexico, Brazil and Australia,
and developed significant gold assets in Turkey. A co-founder of Bema Gold
Corporation, he serviced as Chief Financial Officer and director of that
TSX listed company from 1982 to 1992. Bema was acquired by Kinross Gold
Corp. in April 2007. |
Michael Beley
Chairman & Director
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Mr. Beley has been a director of Hawthorne since June,
2006 and is a member of the Company's Audit Committee. He is the President,
Chief Executive Officer and director of Adriana Resources Inc., a TSX-V
listed mineral exploration and development company with a development-stage
iron ore port facility in Brazil, advanced mineral projects in Quebec,
Canada. From 2004 to 2007, Mr. Beley was a director of Nevada Pacific Gold
Ltd., formerly a TSX-V listed company which was acquired by U.S. GOLD in
April 2007. Mr. Beley was the Vice President Corporate Development and
director of Polaris Minerals Corp., a TSX listed company, from 2002 until
2003 and is currently a director of its subsidiary, Orca Sand and Gravel
Ltd. which is focused on the development of two construction aggregate
quarries on Vancouver Island, B.C. Since 1996, Mr. Beley has been a director
of Energold Drilling Corp., a TSX-V listed contract diamond drilling company
servicing the mining industry. From 1999 to 2003, he was a director of
Cardero Resources Corp., a TSX company. A co-founder of Eldorado Gold Corporation,
Mr. Beley served as Vice President and director of this TSX listed company
from 1999 to 2003, and from 1976 to 1992 was Vice President and director
of Bema Gold Corporation, formerly a TSX listed company he also co-founded
and which was acquired by Kinross Gold Corp. in 2007. Mr. Beley holds a
B.Sc. from the University of British Columbia, is a fellow of the Geological
Association of Canada and is past President of the British Columbia and
Yukon Chamber of Mines. |
Michael Petrina
VP of Mining
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Mr. Petrina, P.Eng., MBA, brings over 25 years of mining
industry experience is currently the VP Operations of Adriana Resources
Inc., a TSX-V listed mineral exploration and development company with a
development-stage iron ore port facility in Brazil, advanced mineral projects
in Quebec, Canada. Mr. Petrina was also previously the General Manager
of Operations for Adanac Molybdenum Corporation. Mr. Petrina brings extensive
experience in operational, engineering, mine development, financial modelling
and acquisition analysis, and as a past technical advisor and engineering
consultant for numerous mining companies around the world. Mr. Petrina
has worked directly for or as a consultant for such companies as Pan American
Silver Corporation, Miramar Mining, Breakwater Resources, TVX Gold, Canadian
Zinc, Cross Lake Minerals and Kilborn Engineering Pacific Ltd. |
Patrick McGrath
Chief Financial Officer
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Mr. McGrath has been the Chief Financial Officer of the
Company since January, 2006. He has a Bachelor of Commerce degree (1995)
from Memorial University of Newfoundland and is a Certified General Accountant.
Since 2006, Mr. McGrath has been with Adriana Resources Inc. and now serves
as Vice President Finance of that company. Adriana is a TSX-V listed mineral
exploration and development company with a development-stage iron ore port
facility in Brazil, advanced mineral projects in Quebec, Canada. Between
December 2004 and January 2007, Mr. McGrath was Chief Financial Officer
of Northern Sun Exploration Company Inc., a TSX-V listed oil and gas exploration
company with properties in western Canada. |
Marlin Murphy
Manager of Environmental and Government Affairs
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Mr. Murphy became the Manager of Environmental and Government
Affairs of the Company effective August 2007. Mr. Murphy holds a B.Sc.
from the University of Alberta , and is a member of the BC Institute of
Agrologists, the Agrologist Institute of Canada, a Professional Agrologist
and a Canadian Certified Environmental Practitioner. Mr. Murphy brings
over twenty-five years of environmental and government relations experience
to Hawthorne , with previous senior management positions with EBA Engineering,
Compliance Energy Corporation, Barrick Gold Corporation, Homestake Mining
Company, and Cassiar Mining Corporation. His positions have included Environmental
and Safety Superintendent at Cassiar Mining Corporation and Environmental
Superintendent North America Operations for Homestake Mining Company. Mr.
Murphy has been involved with the completion of various mine permitting
projects, including the permitting for the construction and operation of
the Eskay Creek Mine and the Gregg River Resources Mines, both Federal
and Provincial environmental and regulatory submissions/applications, the
design and maintenance of monitoring and reclamation programs, public advisory
committees and liaison activities with First Nation governments. |
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Recent News From Hawthorne Gold Corp. |
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Press
Release
Source:
Hawthorne Gold Corp., Eureka Resources Inc.
Thursday
February 5, 2009, 9:15 am EST
Hawthorne
Gold Corp. and Eureka Resources Inc.: 2008 Drilling Confirms Gold Mineralization
at Frasergold Continues to Depth and Thickness of Main Zone Increases
VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Feb. 5, 2009) - Hawthorne Gold Corp. ("Hawthorne")
(TSX VENTURE:HGC - News) and Eureka Resources Inc. ("Eureka") (TSX
VENTURE:EUK - News) are pleased to announce the results from 14 additional
diamond drill holes ("DDH") from the 2008 exploration program that consisted
of 58 holes (totaling 10,405 metres) on the Frasergold property. The property
is located in the Cariboo Gold District of central British Columbia, Canada
and is accessible by highway and logging roads year round. Further assaying
from the remaining 37 holes is underway and results are expected shortly.
"Our
geological team continues to focus on modelling the deposit to determine
the full potential of the system and we are pleased with the success of
the drill program to date," commented Richard Barclay, President &
CEO of Hawthorne. MORE
Press Release
Source: Hawthorne
Gold Corp., Eureka Resources Inc.
Tuesday February
3, 2009, 9:15 am EST
Hawthorne Gold Corp. and Eureka
Resources Inc.: Soil Sampling Program Yields Highly Anomalous Zone 1,000
Metres Northwest of Main Zone at Frasergold Property
VANCOUVER, BRITISH
COLUMBIA--(Marketwire - Feb. 3, 2009) - Hawthorne Gold Corp. ("Hawthorne")(TSX
VENTURE:HGC - News) and Eureka Resources Inc. ("Eureka")(TSX VENTURE:EUK
- News) are pleased to announce that recently received analyses, obtained
from a soil sampling program 1,000 metres northwest of the Main Zone on
the Frasergold Property, identified an area with a highly anomalous gold
signature including values as high as 18.77 g/t.
"Hawthorne continues
to expand the size of the gold system with the new highly anomalous soil
samples and the previously announced high-grade and lower grade wide drill
hole intercepts. Our geological team continues to deliver promising results
and is working hard to model this deposit to determine the full potential
of the mineralized system. The goal is to gain a better understanding of
the deposit and define a National Instrument 43-101 compliant gold resource
estimate at Frasergold," commented Richard Barclay, President & CEO
of Hawthorne.
Prior to the completion
of the 2008 Frasergold exploration season, the Company completed a soil
geochemical sampling program to follow the strike of known mineralization
to the northwest. Sample collection was focused within a 1,000 m by 300
m area approximately one kilometre northwest along the strike of the Main
Zone and was conducted every 25 metres along ten lines spaced 100 metres
apart connected by a baseline. A total of 114 samples was collected with
two returning 18.77 g/t and 5.67 g/t Au. The strong results demonstrate
the effective nature of geochemical sampling programs in the area and the
opportunity to identify new high-priority zones along strike. MORE
Third Party Coverage of Hawthorne Gold Corp.
Profiled on:
The Gold Report - www.theaureport.com
Recommended by:
Peter Grandich – www.grandich.com
Jay Taylor – www.miningstocks.com
James West – www.midasletter.com
Profiled by:
Haywood Securities Inc. – www.haywood.com
Interviewed and seen on:
The Korelin Economics Report – www.korelinreport.com
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Financial Highlights |
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Market Data
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02/11/09
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| Symbol |
HWTHF |
| Exchange |
OTC Pink Sheets |
| Recent Price |
$0.28 |
| Outstanding Shares |
53,140,681 as of Jan 2, 2009 |
| Market Cap. (est.) |
$15,809,353 as of Feb 10, 2009 |
| Average 3mo Volume |
21,201 |
| FYE |
11/30 |
| Source: |
Yahoo Finance |
Click on the image below to view a Corporate Fact Sheet
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Current Price of Gold
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View Hawthorne Gold Corp.
News HERE
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Company
Contacts |
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Suite 1580, One Bentall Centre
505 Burrard Street, Box 72
Vancouver, BC
Canada V7X 1M5
Toll Free: 888-629-1505
For more information contact
Investor Relations:
Todd Hanas
todd@hawthornegold.com
Direct Line:
Tel: 604-484-3668
Toll Free: 866-869-8072
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