Mineral resource company Stavely Minerals has agreed to acquire the Hawkstone nickel-copper-cobalt project from Chalice Mining.
The Hawkstone project is located in the West Kimberley region of Western Australia, and covers several known areas considered highly prospective for magmatic nickel sulphides and other related metals.
The project sits along strike from the Buxton Resources-IGO joint venture Double Magic project, which hosts the Merlin nickel-copper-cobalt discovery, which was a high-tenor magmatic nickel style of mineralisation.
The Hawkstone Project comprises of approximately 1800km2 of tenure held both 100 per cent and with earn-in and/or exploration rights in six separate tenements through Chalice Mining’s wholly-owned subsidiary, North West Nickel.
The summary terms of the acquisition is that Stavely Minerals will acquire North West Nickel, for consideration of $1.4 million of equivalent value in Stavely Minerals shares.
Stavely Minerals managing director Chris Cairns said acquiring the Hawkstone project was an exciting exploration opportunity.
“The project complements our flagship Stavely copper-gold project in many ways – it conforms to the company’s focus on exploring for the metals required for the transition to a low-carbon future,” Cairns said.
“It is important to emphasise that this transaction in no way diminishes our enthusiasm or the scale of the opportunity at our flagship Stavely project. It is more a matter of complementing our critical minerals focus and the synergy of the respective field seasons in such a way that the company can provide more continuous year-round activities across two outstanding projects.”
Cairns said Stavely Minerals are encouraged that Chalice has agreed to accept its shares as consideration, thus retaining exposure to potential future exploration success at Hawkstone.