Hawk Resources Clears Final Hurdle for Olympus Scandium Drilling

Managing Director Scott Caithness said the agreement for mineral exploration marks the final traditional owner approval milestone before exploration begins. He noted the process has taken just four months from first engagement with the Ngaanyatjarra Council. "Once completed, this approval process will have taken only four months from Hawk's first engagement with the Ngaanyatjarra Council," Caithness said. "The final steps ahead of getting exploration underway are the approvals of the Ministers for Mines and Aboriginal Affairs, which Hawk has been pursuing in parallel with the Survey clearance. These are expected early in Q3, CY26."

Hawk anticipates survey clearance this month, pending ministerial consents. On-ground exploration is scheduled for Q3 CY26.

The project's previous exploration between 2001 and 2009 targeted copper, nickel, cobalt, platinum group elements and gold. A review of pXRF analyses of soil, lag and RAB samples found a significant soil anomaly with grades up to 1,284 parts per million scandium. Peak RAB assays hit 2,164 parts per million over one-metre sample intervals. The company says Olympus has potential for a major new scandium province.

HWK shares rose 3.85% to 2.7 cents on the news, giving the company a market capitalisation of A$16.2 million.

The setup is straightforward. Hawk has ticked the heritage box and now waits on ministerial sign-offs. The timeline stretches into September quarter 2026. The path to first drilling is clearer than it was a week ago.