TSX: NHK
TORONTO, June 26, 2018 /PRNewswire/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK) (OTCQX:
MIMZF) is pleased to announce drill results for eleven holes
(2,513 metres) recently completed at its North Inca gold deposit.
North Inca is one of four gold deposits within the Company's Leta
Arm Gold Project ("Leta Arm") that straddle a well mineralized, 10
kilometres long by 500 metres wide, deformation zone located
sixteen kilometres southwest of the Colomac Gold Project
("Colomac"), Northwest Territories,
Canada (Figure 1). Drilling of the other three Leta Arm
deposits (Diversified, Number 3, and Lexindin) is now complete with
results forthcoming.
DRILLING HIGHLIGHTS:
- Hole NI18-03B intersected 25.50
metres (13.00 metre true width) of 2.68 gpt Au, including 9.95
metres of 4.90 gpt Au, and 4.60 metres of 6.60 gpt Au;
- Hole NI18-02B intersected 9.25
metres (5.00 metre true width) of 4.49 gpt Au, including 4.25
metres of 6.52 gpt Au, and 2.25 metres of 10.45 gpt Au;
- Hole NI18-03 intersected 15.10 metres (9.70 metre true width)
of 2.36 gpt Au, including 6.55 metres of 4.60 gpt Au, and 3.05
metres of 8.03 gpt Au;
- Hole NI18-05 intersected 11.25 metres (6.50 metre true width)
of 3.26 gpt Au, including 8.25 metres of 4.16 gpt Au, and 2.25
metres of 8.35 gpt Au;
- Drilling has validated the modelled steep northern plunge to
mineralized veins zones;
- Near-surface mineralization - not drilled below 100 metres -
remains open in all directions;
- East Zone extended an additional 100 metres south and remains
open.
Note: All assays
are uncut (see Table 1)
|
Dr. Michael Byron, President and
CEO commented, "Leta Arm is one of our principal projects, and a
prime example of the type of emergent opportunity that exists in
this juvenile gold camp. Given the camp's underexplored nature, we
believe that many other prospects of similar magnitude remain to be
discovered. Leta Arm is also a strategic asset in terms of our
objective of delivering potential satellite gold ounces to augment
any future Colomac production scenario. In March we launched
our 2018 campaign with three rigs drilling the four Leta Arm
deposits. Initial results have shown the expansion potential of the
North Inca vein systems and validated our latest exploration
model. We are awaiting the findings of our recently completed
Induced Polarization survey, as results of that work are expected
to assist with future drill targeting throughout the Leta Arm
corridor and may also provide valuable insight into any possible
relationship between the four deposits. Additional results will be
released as they become available.
"Two of the three drills are now working the Colomac area
deposits and will remain there for the duration of the 2018
program, while the third rig will be active on several of our
regional deposits and priority targets including the high-grade
Damoti Lake gold deposit."
North Inca consists of an eastern ("East Zone") and western
("West Zone") mineralized quartz-rich vein system that lie 150
metres apart (Figure 1). Nine holes tested the East Zone and two
holes were drilled into the West Zone. All holes intersected
mineralization (Table 1) with visible gold reported in eight of
them, highlighted by NI18-03B that
returned 25.50 metres of 2.68 grams per tonne gold ("gpt"
"Au"), including 9.95 metres of 4.90 gpt Au, and 4.60
metres of 6.60 gpt Au; and hole NI18-02B which assayed 9.25 metres of 4.49 gpt Au,
including 2.25 metres of 10.45 gpt Au. Holes were laid out to
follow up on high-grade gold intersections reported from the
Company's 2011 drill campaign (see press releases dated
June 15, 2011; September 6, 2011; and November 21, 2011). Drilling has not tested the
deposit below 100 metres and it remains open to depth.
Table 1. North Inca Drill Results (uncut)
Hole
ID
|
Collar
Orientations
(degrees)
|
Intersection
(Metres)
|
Core
Length
|
True
Width
|
Gold
Grade
|
|
|
Azimuth
|
Dip
|
From
|
To
|
(Metres)*
|
(Metres)
|
gpt
|
NI18-01
|
110
|
-47
|
42.75
|
57.75
|
15.00
|
10.00
|
0.89
|
including
|
45.75
|
50.25
|
4.50
|
|
1.02
|
including
|
45.75
|
48.00
|
2.25
|
|
1.48
|
including
|
55.50
|
57.75
|
2.25
|
|
2.37
|
including
|
57.25
|
57.75
|
0.50
|
|
9.19
|
NI18-01B
|
110
|
-60
|
52.45
|
76.00
|
23.55
|
12.00
|
1.09
|
including
|
60.15
|
76.00
|
15.85
|
8.00
|
1.27
|
including
|
63.15
|
66.90
|
3.75
|
|
2.42
|
including
|
63.15
|
63.90
|
0.75
|
|
7.10
|
including
|
72.15
|
76.00
|
3.85
|
|
2.30
|
including
|
72.15
|
74.75
|
2.60
|
|
2.38
|
NI18-02
|
270
|
-45
|
62.50
|
64.00
|
1.50
|
|
0.35
|
NI18-02B
|
270
|
-55
|
68.00
|
70.75
|
2.75
|
|
1.13
|
including
|
70.00
|
70.75
|
0.75
|
|
3.41
|
And
|
86.25
|
95.50
|
9.25
|
5.00
|
4.49
|
including
|
87.00
|
94.75
|
7.75
|
|
5.26
|
including
|
87.00
|
91.25
|
4.25
|
|
6.52
|
including
|
89.00
|
91.25
|
2.25
|
|
10.45
|
including
|
92.75
|
94.75
|
2.00
|
|
6.13
|
NI18-03
|
110
|
-52
|
68.05
|
83.15
|
15.10
|
9.70
|
2.36
|
including
|
75.95
|
82.50
|
6.55
|
|
4.60
|
including
|
75.95
|
79.80
|
3.85
|
|
6.63
|
including
|
76.75
|
79.80
|
3.05
|
|
8.03
|
including
|
77.50
|
79.00
|
1.50
|
|
12.00
|
including
|
81.85
|
82.50
|
0.65
|
|
5.41
|
And
|
89.20
|
90.20
|
1.00
|
|
2.73
|
NI18-03B
|
110
|
-65
|
94.25
|
119.75
|
25.50
|
13.00
|
2.68
|
including
|
94.25
|
104.20
|
9.95
|
5.25
|
4.90
|
including
|
94.25
|
102.00
|
7.75
|
|
5.67
|
including
|
97.40
|
102.00
|
4.60
|
|
6.60
|
including
|
100.50
|
102.00
|
1.50
|
|
10.69
|
including
|
106.25
|
107.60
|
1.35
|
|
5.40
|
including
|
116.10
|
119.75
|
3.65
|
|
2.65
|
NI18-04
|
110
|
-52
|
30.00
|
31.90
|
1.90
|
|
1.28
|
And
|
57.40
|
63.75
|
6.35
|
|
1.21
|
including
|
57.40
|
59.25
|
1.85
|
|
3.31
|
including
|
57.90
|
58.50
|
0.60
|
|
9.30
|
NI18-04B
|
110
|
-70
|
59.90
|
78.00
|
18.10
|
|
0.73
|
including
|
59.90
|
64.30
|
4.40
|
|
1.19
|
including
|
77.00
|
78.00
|
1.00
|
|
5.28
|
And
|
85.25
|
92.40
|
7.15
|
|
0.61
|
including
|
85.25
|
87.50
|
2.25
|
|
0.98
|
And
|
99.30
|
100.30
|
1.00
|
|
5.61
|
NI18-05
|
110
|
-60
|
128.50
|
139.75
|
11.25
|
6.50
|
3.26
|
including
|
130.00
|
138.25
|
8.25
|
|
4.16
|
including
|
130.00
|
133.75
|
3.75
|
|
6.23
|
including
|
130.00
|
132.25
|
2.25
|
|
8.35
|
And
|
145.75
|
149.50
|
3.75
|
|
6.04
|
including
|
148.00
|
149.50
|
1.50
|
|
13.74
|
NI18-06
|
110
|
-52
|
67.20
|
69.00
|
1.80
|
|
0.60
|
And
|
82.30
|
83.15
|
0.85
|
|
1.42
|
NI18-06B
|
110
|
-60
|
79.25
|
87.75
|
8.50
|
|
1.20
|
including
|
80.75
|
82.50
|
1.75
|
|
5.35
|
including
|
82.00
|
82.50
|
0.50
|
|
17.35
|
*
|
Lengths are reported
as core lengths. True widths vary depending on drill hole dip; most
holes are laid out to intersect the mineralized zone close to
perpendicular therefore true widths are approximately 50% to 80% of
core lengths.
|
Leta Arm Gold Project
Leta Arm is located 210 kilometres north of Yellowknife, Northwest Territories, along the
northern extension of the West Bay
– Indin Lake Fault Zone (WBILFZ); a major regional structure
hosting the past producing Giant and Con Gold mines to the south
(~13 million-ounce historical gold production), and the Colomac
gold mine (~500,000-ounce historical gold production) within its
northern extent. Nighthawk's Diversified, North Inca, Lexindin, and
Number 3 gold deposits, as well as several gold showings, lie
within the Leta Arm Fault Zone, a north-south oriented regional
deformation zone upwards of 10 kilometres long and 500 metres wide
located within the northern extension of the WBILFZ where it
transects the central portion of the Indin Lake Greenstone
Belt.
Exploration shafts and limited underground development were
completed on the North Inca and Diversified gold deposits in the
late 1940's and early 1950's exploring multi-stage quartz veins
characterized by high-grade gold mineralization. The Diversified
mine is 1.3 kilometres north of the North Inca mine with the Number
3 deposit lying between them and the Lexindin deposit an additional
1.2 kilometres north of Diversified. All deposits lie along a
linear array and remain open laterally and vertically, suggesting
that they may be part of a single extensive yet underexplored
system.
Nighthawk drilled 39 holes (10,536 metres) in 2011 on the four
Leta Arm deposits testing a 2.4-kilometre-long section of the Leta
Arm Fault Zone. Renewed exploration activities in 2017, following
up on the 2011 program, drilled two holes (1,314 metres) into each
of the eastern and western North Inca vein systems (see press
release dated January 17, 2018).
Results to date have exceeded expectations by establishing
significant zone widths, confirming the potential for zone
expansion, and for new discoveries as nothing has been drilled
below 100 metres in depth. Very little historical exploration has
focused on the Leta Arm region despite the abundance of surface
gold showings and shallow deposits (see press release dated
April 12, 2018). The Company recently
finished a ground Induced Polarization geophysical survey over the
area between North Inca, #3 and Diversified, to help explore their
flanks and to determine if there is a connection between the three
deposits. That data is currently being processed. Let Arm is a
priority target for Nighthawk as the Company believes this
mineralized corridor is ripe for discovery.
North Inca Gold Deposit
North Inca consists of several parallel north-striking
quartz-rich veins spanning a highly strained contact zone between
metavolcanic and metasedimentary rocks (Figure 1). The East Zone
lies within metasedimentary rocks while the West Zone is hosted by
metavolcanic rocks, and the en-echelon nature of their veins
suggests they may continue along strike and repeat to depth.
Nighthawk's recent geological modelling depicts a steep northern
plunge to the mineralized system and has formed the basis for
target generation at North Inca and the other Leta Arm deposits in
2018.
Nighthawk's initial 2011 drilling focused on validating the
limited historical data available for the near surface eastern and
western vein systems, to establish whether the mineralization spans
laterally into the host country rock or is restricted to the quartz
veins, and to explore the vein systems along strike and to depth.
Results were encouraging as several high-grade intersections were
reported with zone widths much wider than previously recognized.
The program was also successful in the discovery of new zones and
extending known zones laterally and to depth (see press releases
dated June 15, 2011; September 6, 2011; and November 21, 2011). The Company's drilling
in 2017 tested both vein systems by undercutting mineralization and
infilling gaps between 2011 holes, confirming continuity, and
extending mineralization to new depths (see press release dated
January 17, 2018).
2018 Drilling
Nighthawk's 2018 drill program began in early March with three
rigs working the four Leta Arm deposits. Results reported in this
news release cover the eleven holes that were drilled at North
Inca, of which nine tested the East Zone and two holes were
directed at the West Zone. All holes were laid out based on the
Company's recent structural modelling that shows a steep plunge to
the north for the en-echelon sub-vertical mineralized vein
zones.
Holes NI18-01 and NI18-01B were
drilled into the central portion of the East Zone to test a shallow
mineralized gap 65 metres up plunge from a historical intersection
(Figure 1). Both holes infilled the section 57 metres below
surface and confirmed the modeled zone and its continuity of
mineralization. Holes NI18-03 and NI18-03B were collared 80 metres southwest of NI18-01
to explore the zone's southern extension and intersected strong
mineralization from 60 metres to 95 metres below surface (Figure
2). NI18-03, the shallower hole, cut 15.10 metres of 2.36 gpt Au,
including 6.55 metres of 4.60 gpt Au, and 3.05 metres of 8.03 gpt
Au; and the steeper hole, NI18-03B,
intersected 25.50 metres of 2.68 gpt Au, including 9.95 metres of
4.90 gpt Au, and 4.60 metres of 6.60 gpt Au. A 50-metre step out to
the south extended the zone, as holes NI18-04 and NI18-04B traced mineralization upwards of 100 metres
beyond previous drilling to a depth of 75 metres.
NI18-05, was drilled to test the central area of the East Zone
to depth 50 metres north of NI18-03 and 25 metres south of NI18-01.
This was the deepest hole drilled in the program, intersecting the
modelled mineralization 120 metres below surface, and returning
11.25 metres of 3.26 gpt Au, including 8.25 metres of 4.16 gpt Au,
and including 2.25 metres of 8.35 gpt Au (Figure 3). Two holes were
drilled from a single setup 80 metres north of NI18-01 to explore
the northern extension of the East Zone. Both holes intersected the
zone's projected extension to a depth of 80 metres.
NI18-02 and NI18-02B were collared
to test the southern extension of the North Inca West Zone, 40
metres south of previous drilling. The shallower hole, NI18-02,
appears to have overshot the plunging zone and encountered limited
mineralization, while the steeper hole, NI18-02B, intersected a better mineralized portion of
the zone returning 9.25 metres of 4.49 gpt Au, including 4.25
metres of 6.52 gpt Au, and including 2.25 metres of 10.45 gpt Au,
effectively extending the zone southward where it remains open.
The primary objective of the 2018 Leta Arm drill program was to
follow up on the Company's previous exploration and utilize its
newly defined structural model to help direct target generation.
This has proven successful as the latest step out holes drilled at
North Inca have extended known mineralization laterally and to new
depths, continued to confirm the high-grade nature of the
mineralization, and expanded the widths of the mineralized zones.
North Inca continues to deliver encouraging results and remains
open in all directions.
The Company continues to aggressively explore this highly
prospective mineralized corridor, focused on making new
discoveries, expanding the four known deposits, and examining their
possible integration along strike, all of which will enable the
Company to begin defining potential ore bodies. Drill results from
the recently completed exploration program at the Diversified,
Number 3, and Lexindin deposits will be released shortly.
Technical Information
Nighthawk has implemented a quality-control program to comply
with best practices in the sampling and analysis of drill
core. Drill core samples were transported in security-sealed
bags for analyses at ALS Chemex Assay Laboratory in Vancouver, BC ("ALS Chemex"). ALS Chemex
is an ISO 9001:2000 certified laboratory. Pulp and metallics
assaying for gold was conducted on the entire pulverized
sample.
As part of its QA/QC program, Nighthawk inserts external gold
standards (low to high grade) and blanks every 20 samples in
addition to the standards, blanks, and pulp duplicates inserted by
ALS Chemex.
About Nighthawk
Nighthawk is a Canadian-based gold exploration company with 100%
ownership of a district-scale land position within the Indin Lake
Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada.
Nighthawk is focused on advancing the Colomac Gold Project with a
current inferred resource of 2.6 million ounces of gold (50.3
million tonnes at an average grade of 1.62 grams per tonne gold),
as well as advancing its other regional gold deposits and showings
within this largely underexplored Archean gold camp.
The Company has an experienced and dedicated team and is well
funded to complete its goals and objectives over the next 18-24
months.
Qualified Person
Dr. Michael J. Byron, Ph.D.,
P.Geo., President & Chief Executive Officer of Nighthawk, who
is the "Qualified Person" as defined by NI 43-101 for this project,
has reviewed and approved of the technical disclosure contained in
this news release.
Neither the Toronto Stock Exchange has neither reviewed nor
accepts responsibility for the adequacy or accuracy of this news
release.
Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
information with respect to: any possible relationship between the
four deposits at Leta arm; the Company's exploration programs
including drilling, and the timing and results thereof; and any
potential for future production at Colomac. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and
estimates of management at the date the information is made, and is
based on a number of assumptions and is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Nighthawk to be materially different from those expressed or
implied by such forward-looking information, including risks
associated with the exploration, development and mining such as
economic factors as they effect exploration, future commodity
prices, changes in foreign exchange and interest rates, actual
results of current exploration activities, government regulation,
political or economic developments, environmental risks, permitting
timelines, capital expenditures, operating or technical
difficulties in connection with development activities, employee
relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of reserves, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in Nighthawk's annual information form
for the year ended December 31, 2016,
available on www.sedar.com. Although Nighthawk has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Nighthawk does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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SOURCE Nighthawk Gold Corp.