It is a shank yes. For a shank to occur the head is bypassing the ball on the outside, meaning the hosel is the point of contact.

Rather than try to be clever, I will pass you on to Tiger's coach Hank Haney, from his book The Only Golf Lesson You'll Need. I've abridged it somewhat though.

Reasons:

1/ Standing too close to the ball.

2/ Leaning in during the swing (falling into the shot). You may feel off balance as you hit. Hank says keep your head back and your left shoulder up as it turns on the backswing.

3/ Swinging hands and arms on too flat a plane. This puts the club too far behind on the backswing and too far in front on the downswing. Try and swing more "up and down".

4/ You could be reaching out with your arms on the through swing. Keep your arms close to your body throughout the swing. 

A drill for all four is to set up a line of tees next to the ball on the outside and make it your goal to not touch the tees as you hit the ball. If you can do that you won't shank. 

Hope my version of Hank's advice helps. Good luck.