Hawk Resources Secures AU$5 Million to Advance Olympus Scandium Project.

Hawk Resources Limited (ASX: HWK) has successfully raised AU$5 million through a strongly supported placement to accelerate drilling at its Cactus Project in Utah and advance the newly acquired Olympus Scandium Project in Western Australia. The company signed a binding Heads of Agreement to earn up to 80% of Olympus, a large-scale 7 km × 4 km scandium anomaly with grades reaching up to 2,164 ppm Sc. Scandium, a critical metal used in aerospace, fuel cells, and advanced alloys, presents strong growth potential due to limited global supply.

The Olympus acquisition aligns with Hawk’s strategy to create near-term value through copper and expand its critical-minerals portfolio. Initial work will focus on confirmatory assays and systematic exploration to define mineralization continuity, enhancing the company’s exposure to high-value scandium opportunities in a Tier-1 jurisdiction.

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