ASX: HWK - Hawk Resources
- Matt Birney
- 5 days ago
- 3 min read
Hawk Resources: Forget rare earths - this stuff sells for $3m a tonne!
Hawk Resources Managing Director Scott Caithness on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Hawk Resources Managing Director Scott Caithness talk to Matt Birney on the Bulls N’ Bears Report about Hawk Resources’ fascinating new critical minerals project with a mineral that sells for pretty much more than everything out there.
TO LISTEN TO THE HAWK RESOURCES AUDIO INTERVIEW - CLICK BELOW
Hawk Resources has entered the critical mineral space after raising $5m bucks and signing an agreement to earn up to 80% of what looks like a fascinating scandium project in WA. The Olympus ground in West Musgrave was previously explored for other minerals many years ago despite showing major signs of scandium that was not on the radar back then. Scandium sells for more than pretty much all of the big name critical minerals and is exceptionally rare and generally only mined as a by-product of other minerals.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by critical minerals explorer, Hawk Resources
Matt Birney - ASX code: HWK
Matt Birney - I'm Matt Birney, and I'm joined now by the Managing Director of Hawk Resources, Scott Caithness.
Matt Birney - Hi, Scott.
Scott Caithness - Hi, Matt. Thanks for having me.
Matt Birney - Okay, so Hawk Resources has entered the critical mineral space after raising $5m bucks and signing an agreement to earn up to 80% of what looks like a fascinating scandium project in WA. The Olympus ground in West Musgrave was previously explored for other minerals many years ago despite showing major signs of scandium that was not on the radar back then. Scandium sells for more than pretty much all of the big name critical minerals and is exceptionally rare and generally only mined as a by-product of other minerals.
Matt Birney - All right, Scott, this looks interesting. Exactly where is this scandium project and what's its exploration history?
Scott Caithness - Yeah, it's in the West Musgraves region of Western Australia, out towards the Northern Territory border about 150km northeast of Warburton. Look, it was explored in the past basically for copper, nickel, platinum group elements, cobalt and gold. So not for scandium.
Matt Birney - Okay. What makes you think there's scandium there? Are there any surface expressions?
Scott Caithness - As part of the exploration, they collected soil samples on a grid, quite wide space grid, but they identified a zone of 4km by 7km, which assays greater than 500ppm scandium in PXRF assays, so handheld XRF with grades up to 1284 ppm.
Matt Birney - I know there's been some historical drilling at this project, as you say, for other minerals. Did they ever assay for scandium in those drill campaigns?
Scott Caithness - Yeah, they did a series of traverses. Only four traverses are in the relevant area for us and they were RAB holes so just chip samples, quite shallow from surface and look the best results they got out of that were 11m at 934ppm, 5m at 948ppm. Best assays over 1m intervals up to 2,164ppm scandium so very encouraging in terms of the potential of the area.
Matt Birney - What's scandium typically used for?
Scott Caithness - Scandium's a critical metal so it's classified as critical by the US, Australian and Europeans. It's used primarily to to strengthen and lighten aluminium as an alloy. It's also used in solid oxide fuel cells and it's having growing use in the next generation of 5G and 6G networks. So, it's a very interesting commodity going forward.
Matt Birney - I haven't done the research, but my memory tells me this stuff sells for a fortune. I mean, for context, I think nickel sells for about 15,000 US bucks a tonne and copper is around 10,000. How much does scandium sell for a tonne?
Scott Caithness - Yeah. Shanghai Metal Exchange. It sells for around about three $3.5 million a tonne. So, it's a very high value commodity. It's got growing usage in the world.
Matt Birney - Scott Caithness from Hawk Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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