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The Hona prospect is located immediately south and west of the Eagle block and there is an arbitrary separation of the two large claim blocks. The Hona block was staked in 2016 and is centered around a series of prospects generally referred to as Hona but also known as the Noah or Natahona prospects. The prospect currently is accessible via helicopter but is within 10 kilometers of the State maintained all-weather Tok Cut-off to Glenn Highway #1.  The prospect sits at elevations ranging from 3000 to 6680 feet ASL centered on VABM Hona.  The prospect was originally identified and drilled by Kennecott Exploration during 1997 and 1998. 

Kennecott drill three holes for a total of 885 meters (2904 ft.) for which the results were never published.  Later follow-up logging demonstrated that the holes intersected narrow high-grade zones of gold and associated metals analyzed by a Niton Portable XRF unit.  Follow-up sampling in the area included a regional scale stream sediment and pan concentrate program which outlined several broad areas of anomalous gold and associated pathfinder elements and included some particularly high pan concentrate samples containing 1 to 9 g/t in multiple samples from upper Hona Creek and 9 Gram Creek.  Rock sampling of mineralized skarn areas identified gold rich skarn mineralization with samples containing 4 to 14 g/t gold.

Early in 2017, the Hona prospect and adjacent lands were evaluated using ASTER-SWIR (Advanced Spaceborne Thermal Emission and Reflection Radiometer - Short Wave Infrared) processing and interpretation.

The resulting imagery indicated widespread montmorillonite clay alteration around the Hona prospect area as well as several other areas on the Eagle prospect. In addition, kaolinite clay alteration was concentrated within a phaneritic granodiorite based on field mapping at the Hona prospect. Both kaolinite and montmorillonite are common hydrothermal alteration minerals in porphyry and certain types of gold systems.

A number geophysical surveys have been flown by government agencies including the most recent in 2016 when the State of Alaska Division of Geological and Geophysical Surveys (DGGS) released public sector magnetic and frequency-domain resistivity surveys over the Hona prospect as well as lands located to the south and west of Hona.

In October 2019, the Peak Gold JV contracted Geotech Ltd. to fly helicopter-supported airborne Magnetics and Versatile Time-Domain Electromagnets (VTEM) surveys over the Hona prospect. The total survey size was 1,006 line-km with flight lines oriented north-south at 100m spacings with east-west tie lines at 1,000m spacing.

In 2019 DGGS geophysical and ASTER remote sensing data were combined with new rock sample discoveries and geologic mapping over the Hona prospect. Airborne magnetics and resistivity data from a 400m-spaced State of Alaska survey as well as ASTER data indicated that multi-gram gold samples at Hona 2 were coincident with a strong magnetic high - a discrete 56,000 Hz conductivity high and the most intense montmorillonite alteration patterns. Similar coincident anomalous gold with montmorillonite was noted in hyperspectral analyses of drill core from the Chief Danny area. Following compilation of available geological, geochemical, geophysical and remote sensing data, two holes were completed at the Hona prospect.

Both of the holes completed at Hona were designed to test the apparent moderate south dipping trend of mineralization seen in outcrops to the north and down slope of the drill collars. Hole HN19001 was drilled along azimuth 010 under the western outcrops of the Hona 2 prospect where multi-gram gold with anomalous Ag, As, and Cu values had been detected in surface outcrop and rubble crop. When this hole was completed, the rig was rotated 60 degree clockwise and hole HN19002 was drilled along azimuth 070 under surface outcrops of the eastern Hona 2 prospect. Significant drill intercepts from the Hona drilling are shown in the table below. Both holes intersected wide-spaced gold mineralization worthy of follow-up drilling in this highly prospective and target rich area. Follow-up work is planned for the 2021 drill program.

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