TSX: NHK
TORONTO, Dec. 20, 2018 /CNW/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK; OTCQX:
MIMZF) is pleased to provide an update on the approved
construction and operation of a permanent 97 km two-lane gravel
highway on a former winter road alignment from Hwy 3, roughly 40km
south of Behchokǫ̀ – to the Community of Whatı̀, Northwest Territories, Canada.
Dr. Michael Byron, President
& CEO commented, "This is an important project for the
Northwest Territories, and
particularly residents of the Tłı̨chǫ First Nation as the road
will allow transportation efficiencies to reduce the cost of living
within the region, foster social opportunities by linking up some
of the more remote communities such as Whatı̀, and ultimately
result in better winter road access to our Indin Lake Gold
Property. We are encouraged to see the commitment of all three
parties to promote infrastructure development and road access,
especially when considering any future mining scenarios at our
flagship Colomac Gold Project. As well, there is substantial mine
waste rock stockpiled on surface from the former operation that
could potentially be used as material for any additional road
construction in the future."
"We see this as an evolutionary step in the right direction to
provide attractiveness to industry in the exploration and
development of natural resources. We are very pleased to see the
territories' continued focus on future development to support its
communities and industry."
In late October, the Responsible Ministers adopted the
recommendations of the Mackenzie Valley Environmental Review Board
on the environmental assessment of the proposed Tłı̨chǫ all-season
road (the "TASR"), which allows the project to proceed
through to the regulatory and permitting phase. In mid-November,
the preferred proponent was selected for road construction and a
25-year operating tenure for road maintenance. All parties are
finalizing design details and permit applications, with financial
close expected by mid-February.
All required permits are expected by early fall, which should
see formal ground work start alongside receiving the main permits
(water license and land use permits), with an anticipated
construction time of two years.
Additional TASR Project Information
The road construction is being funded through a public-private
partnership, with the federal government providing 25% of the
capital costs. The remainder is being funded by the Government of
the Northwest Territories. The
territorial government is working in partnership with the Tłı̨chǫ
First Nation government to advance the project.
- Replacing the southern section of the existing winter road will
adapt to the impacts of climate change, provide uninterrupted
access to the community of Whatì and increase the winter road
window-of-access to the communities of Gamètì, Wekweètì, and
Nighthawk's Indin Lake Gold Property.
- Transportation efficiencies will reduce the cost of living for
the region and embrace social opportunities.
- The capital ceiling in the Request for Proposals (RFP) is
$200 million.
- All-weather access will attract further interest from industry
in exploration and development of natural resources.
- Road construction and maintenance will result in significant
employment and training opportunities for Tłı̨chǫ residents that
support the development of a strong northern workforce.
For more information on the TASR project and other
infrastructure initiatives from the Government of the Northwest Territories, please visit their
website at https://www.inf.gov.nt.ca/en.
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. Please refer to NI 43-101 technical report
"Technical Report and mineral resource estimate update on the
Colomac Property of the Indin Lake Project", dated June 17, 2013, as filed under the company's
profile on www.sedar.com.
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 potential development and mining
scenario at the Colomac Gold Project and any additional road
infrastructure commitments by the territorial and/or federal
government, and the timing and financial support thereof .
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, 2017,
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.