Hawk Resources (ASX:HWK) - High-Grade Copper Drilling Underway With Scandium Upside in Play

Jan 22, 2026

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Interview with Scott Caithness, Managing Director of Hawk Resources Ltd.

Our previous interview: https://www.cruxinvestor.com/posts/hawk-resources-asxhwk-december-drilling-targets-five-prospects-in-historic-copper-district-8487

Recording date: 20th January 2026

Hawk Resources has successfully raised A$5 million to fund an aggressive exploration campaign across two high-potential critical minerals projects, with the capital raise closing within an hour of opening due to strong investor demand. The oversubscribed raise demonstrates market confidence in the company's dual-pronged strategy targeting near-term copper-gold catalysts in Utah alongside a potentially transformational scandium opportunity in Western Australia.

Managing Director Scott Caithness confirmed drilling has commenced at the company's flagship Cactus copper-gold project in Utah, with a 4,000-meter program testing six previously undrilled targets. The project carries significant historical pedigree, having been mined between 1905 and 1920 at grades of 2% copper with meaningful gold credits. Recent verification drilling by Hawk intersected 30 meters at 1.8% copper from surface, confirming the presence of high-grade mineralisation that remains accessible for modern exploration techniques.

The company has allocated approximately A$3 million toward the Cactus drilling campaign, with results expected to flow from March 2026 onwards. Hawk's systematic approach integrates geophysical data, historical drilling records, and the first-ever project-wide soil sampling program to identify high-priority targets. The Copperopolis target exemplifies this methodology—a large chargeability anomaly with encouraging surface geochemistry that has never been drill-tested, despite a 1974 hole nearby intersecting 30 meters at 2% copper.

Complementing the Utah copper focus, Hawk has reserved A$1-1.5 million to advance its recently acquired scandium project in Western Australia. The asset features a 4 kilometer by 7 kilometer soil anomaly with scandium grades exceeding 500 parts per million, reaching peaks of 1,200 ppm in a commodity currently worth $3,400 per kilogram. Historical shallow drilling intersected significant scandium mineralisation, though verification through laboratory assays remains the immediate priority.

Caithness positions Hawk as a critical metals company with copper focus, offering investors exposure to supply-constrained commodities essential for electrification and advanced manufacturing while maintaining strategic optionality through its diversified project portfolio.

View Hawk Resources' company profile: https://www.cruxinvestor.com/companies/alderan-resources