Hawk Resources Ltd. has exercised its option to acquire an 80 per cent interest in the Olympus scandium project in Western Australia’s West Musgrave region, with on-ground exploration scheduled to commence in September.
Hawk paid Opal Resources AU$210,000 to fund Opal’s exercise of its option over the project and a further AU$1.15 million in consideration for Hawk’s acquisition of an 80 per cent interest in the project at completion.
The move follows the receipt of all regulatory and Traditional Owner approvals, including consent from the Western Australian Minister for Mines, a mining entry permit from the Minister for Aboriginal Affairs, and an Agreement for Mineral Exploration alongside a completed Cultural Heritage Survey with the Ngaanyatjarra Traditional Owners.
The project covers roughly 309 square kilometres across two granted exploration licences. Historical data highlights a large seven-by-four-kilometre soil anomaly grading above 500 parts per million (ppm) scandium, with past rotary air blast (RAB) drilling intersecting near-surface intervals up to 11 metres at 934ppm scandium and individual peak samples reaching 2,164ppm scandium.
Hawk’s initial field program involves collecting approximately 1,350 lag soil samples to verify and extend high-grade scandium zones previously identified via portable XRF analysis. All collected samples will undergo laboratory assaying.
Hawk Resources Managing Director Scott Caithness said the upcoming campaign represents the first exploration at Olympus since 2008 and positions the company to explore for a potential new scandium province.
“Following the receipt of all Traditional Owner and government consents Hawk has now moved to exercise its option over Olympus which following completion secures its 80 per cent ownership of the project,” Caithness said.
“It will be exciting to get exploration underway on 21st September with the initial programme now designed to both verify and extend zones of high-grade scandium in historical soil sampling. If the sample assays prove positive, this will potentially enable Hawk to move straight to drilling in the next phase of work.”
Positive laboratory results from the initial sampling program in the third quarter of 2026 could allow Hawk to progress straight to target drilling during the fourth quarter.
