TSX: NHK
TORONTO, May 28, 2019 /PRNewswire/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK) is
pleased to report the first assay results from its 2019 exploration
program on the Colomac Gold Project ("Colomac"), the flagship asset
centrally located within Nighthawk's 100% owned Indin Lake Gold
Property, Northwest Territories,
Canada. Sixteen drillholes (5,329 metres) were recently
completed to test specific high-grade targets within the central
3.0-kilometre portion of the 9.0-kilometre host Colomac Main sill
(see Table 1; Figures 1, 2, 3 and 4), approximately 40% of the
intrusion remains unexplored along strike and to depth. Drilling
spanned Zones 1.5, 2.0, 2.5, and 3.0 with all holes intercepting
mineralization, highlighted by hole C19-08 which returned the
Company's best intercept to-date of 56.00 metres grading 13.49
grams per tonne ("gpt") gold ("Au"), including 30.50
metres of 22.12 gpt Au, and including 16.50 metres of 34.18 gpt Au
at Zone 1.5. Wide zones of strong mineralization were also reported
from Zones 2.0 and 3.0.
Dr. Michael Byron, President
and Chief Executive Officer said, "Zone 1.5 continues to
deliver outstanding results as emphasised by its capacity to host
exceptional gold grades over incredible widths, and the record
intercept disclosed today clearly illustrates that point. Since our
initial high-grade discovery in 2014, we have remained committed to
the pursuit of similar opportunities within the two host sills
Colomac Main and Goldcrest. This exploration approach has been at
the forefront of our activities and has resulted in several recent
drill intercepts that are among some of the best in the
industry.
"Backstopped by our recently announced $11 million bought-deal financing, we are now
ensured the resources to implement our most active and expansive
drill program to-date. Our drill program was increased from 25,000
metres and is now expected to exceed 35,000 metres in 2019,
surpassing all previous year totals in terms of drilled metres. We
are incredibly excited and encouraged by our record of discoveries;
and are convinced that given the scope and aggressive nature of our
planned programs, much more is left to be uncovered within this
highly prospective gold camp."
Highlights of Drilling:
Zone 1.5
- Hole C19-08 intersected 56.00 metres of 13.49 gpt Au (35.00
metres true width), including 30.50 metres of 22.12
gpt Au, and including 16.50 metres of 34.18 gpt Au, and including
10.00 metres of 53.57 gpt Au – best gold intersection
to-date
- Hole C19-02 intersected 111.00 metres of 2.00 gpt Au (53.00
metres true width), including 23.75 metres of 3.74 gpt Au
gold, and including 9.75 metres of 4.93 gpt Au
- Hole C19-02B intersected 89.50
metres of 1.10 gpt Au (30.00 metres true width), including 32.25
metres of 2.03 gpt Au; and 5.25 metres of 4.38 gpt Au
- The ongoing frequency and significant widths of high-grade gold
intersected continue to enhance project fundamentals
Zone 2.0
- Hole C19-04 intersected 38.95 metres of 1.65 gpt Au (27.00
metres true width), including 5.25 metres of 7.15 gpt Au
Zone 3.0
- Hole C19-07 intersected 35.45 metres of 2.14 gpt Au (23.00
metres true width), including 10.95 metres of 3.90 gpt Au; and 2.75
metres of 8.17 gpt Au
- Hole C19-07B intersected 35.10
metres (18.00 metres true width) of 1.32 gpt Au, including 13.25
metres of 2.33 gpt Au; and 5.55 metres of 4.43 gpt Au
- New higher-grade domain at Zone 3.0 traced for 125 metres along
strike to a depth of 250 metres and remains open
Note: All assays are uncut (see Table 1)
The Company commenced its exploration activities with three
drills at Colomac in early March and is expected to continue
drilling activities until late September (see press release dated
April 3, 2019). Subsequent to the
recent announcement of a bought-deal financing (see press release
dated May 15, 2019), Nighthawk has
increased its originally planned 25,000-metre drill program to
greater than 35,000 metres in 2019. Efforts will continue to focus
on the expansion of known high-grade gold zones, advance the search
for similar prospects within the Colomac area sills, and broaden
regional drilling activities at some of Nighthawk's many
high-priority prospects throughout the Indin Lake Gold
Property.
Table 1. Colomac Drill Results (uncut)
Hole
ID
|
Zone
|
Collar
Orientations (degrees)
|
Intersection
|
Core
Length
|
True
Width
|
Gold
Grade
|
(Metres)
|
Azimuth
|
Dip
|
From
|
To
|
(Metres)*
|
(Metres)
|
gpt
|
C19-01
|
2.5
|
280
|
-45
|
Abandoned at 16.01
m
|
C19-01B
|
2.5
|
280
|
-50
|
167.25
|
181.80
|
14.55
|
|
0.78
|
including
|
168.00
|
173.25
|
5.25
|
|
1.34
|
including
|
168.00
|
169.50
|
1.50
|
|
2.21
|
including
|
179.25
|
181.80
|
2.55
|
|
0.97
|
including
|
180.00
|
181.80
|
1.80
|
|
1.27
|
C19-01C
|
2.5
|
280
|
-70
|
269.00
|
274.25
|
5.25
|
|
0.54
|
|
|
|
|
282.50
|
285.00
|
2.50
|
|
2.68
|
C19-02
|
1.5
|
90
|
-68
|
270.25
|
274.00
|
3.75
|
|
0.78
|
|
275.50
|
386.50
|
111.00
|
53.00
|
2.00
|
including
|
281.00
|
287.25
|
6.25
|
|
2.60
|
including
|
310.75
|
314.00
|
3.25
|
|
2.42
|
including
|
319.25
|
321.50
|
2.25
|
|
4.92
|
including
|
332.00
|
355.75
|
23.75
|
|
3.74
|
including
|
332.00
|
337.50
|
5.50
|
|
5.48
|
including
|
333.75
|
337.50
|
3.75
|
|
6.73
|
including
|
348.25
|
355.75
|
7.50
|
|
5.51
|
including
|
349.75
|
354.50
|
4.75
|
|
7.39
|
including
|
374.50
|
384.25
|
9.75
|
|
4.93
|
including
|
380.25
|
384.25
|
4.00
|
|
9.15
|
C19-02B
|
1.5
|
90
|
-72
|
437.25
|
444.25
|
7.00
|
|
1.43
|
|
471.75
|
474.00
|
2.25
|
|
1.00
|
|
507.75
|
510.00
|
2.25
|
|
0.88
|
|
519.25
|
608.75
|
89.50
|
30.00
|
1.10
|
including
|
533.00
|
596.75
|
63.75
|
|
1.39
|
including
|
553.25
|
585.50
|
32.25
|
|
2.03
|
including
|
554.00
|
572.75
|
18.75
|
|
2.31
|
including
|
567.50
|
572.75
|
5.25
|
|
4.38
|
including
|
583.25
|
585.50
|
2.25
|
|
3.89
|
|
664.00
|
668.50
|
4.50
|
|
1.48
|
|
716.25
|
717.25
|
1.00
|
|
3.45
|
|
758.25
|
765.75
|
7.50
|
|
0.76
|
C19-03
|
3.0
|
295
|
-75
|
206.20
|
207.25
|
1.05
|
|
22.41
|
|
213.75
|
227.25
|
13.50
|
|
0.48
|
including
|
222.00
|
227.25
|
5.25
|
|
0.79
|
|
258.00
|
259.00
|
1.00
|
|
9.18
|
C19-04
|
2.0
|
280
|
-50
|
168.75
|
207.70
|
38.95
|
27.00
|
1.65
|
including
|
176.20
|
179.20
|
3.00
|
|
2.48
|
including
|
192.70
|
197.95
|
5.25
|
|
7.15
|
|
221.00
|
224.35
|
3.35
|
|
1.91
|
|
228.10
|
231.85
|
3.75
|
|
0.55
|
C19-04B
|
2.0
|
280
|
-75
|
313.75
|
323.05
|
9.30
|
|
0.44
|
including
|
313.75
|
315.80
|
2.05
|
|
1.44
|
C19-05
|
3.0
|
299
|
-60
|
153.00
|
163.75
|
10.75
|
|
0.60
|
including
|
153.00
|
157.15
|
4.15
|
|
0.90
|
|
|
|
|
170.00
|
184.70
|
14.70
|
|
1.05
|
including
|
173.50
|
182.45
|
8.95
|
|
1.46
|
including
|
176.35
|
182.45
|
6.10
|
|
1.56
|
including
|
176.35
|
178.35
|
2.00
|
|
2.49
|
C19-05B
|
3.0
|
299
|
-70
|
208.55
|
255.30
|
46.75
|
|
0.90
|
including
|
208.55
|
249.45
|
40.90
|
|
0.97
|
including
|
209.25
|
216.00
|
6.75
|
|
1.35
|
including
|
220.75
|
232.10
|
11.35
|
|
1.91
|
including
|
220.75
|
229.35
|
8.60
|
|
1.96
|
including
|
222.00
|
227.25
|
5.25
|
|
2.36
|
C19-06
|
2.0
|
287
|
-60
|
239.50
|
259.75
|
20.25
|
|
0.45
|
including
|
248.50
|
254.50
|
6.00
|
|
0.92
|
|
264.25
|
271.00
|
6.75
|
|
1.27
|
including
|
266.50
|
271.00
|
4.50
|
|
1.74
|
|
274.75
|
278.50
|
3.75
|
|
0.54
|
C19-06B
|
2.0
|
287
|
-70
|
263.50
|
268.75
|
5.25
|
|
0.36
|
|
289.00
|
307.00
|
18.00
|
|
0.56
|
including
|
289.00
|
298.00
|
9.00
|
|
0.87
|
including
|
293.50
|
298.00
|
4.50
|
|
1.51
|
C19-07
|
3.0
|
297
|
-50
|
121.95
|
123.25
|
1.30
|
|
0.95
|
|
127.50
|
162.95
|
35.45
|
23.00
|
2.14
|
including
|
130.40
|
132.00
|
1.60
|
|
2.54
|
including
|
138.75
|
157.95
|
19.20
|
|
2.83
|
including
|
147.00
|
157.95
|
10.95
|
|
3.90
|
including
|
147.00
|
150.25
|
3.25
|
|
4.65
|
including
|
155.20
|
157.95
|
2.75
|
|
8.17
|
including
|
161.90
|
162.95
|
1.05
|
|
3.59
|
C19-07B
|
3.0
|
297
|
-65
|
148.25
|
149.60
|
1.35
|
|
1.96
|
|
165.15
|
200.25
|
35.10
|
18.00
|
1.32
|
including
|
178.75
|
192.00
|
13.25
|
|
2.33
|
including
|
178.75
|
184.30
|
5.55
|
|
4.43
|
including
|
195.00
|
196.50
|
1.50
|
|
2.15
|
C19-07C
|
3.0
|
297
|
-72
|
201.00
|
209.12
|
8.12
|
|
2.29
|
including
|
203.22
|
207.00
|
3.78
|
|
3.71
|
including
|
204.00
|
206.20
|
2.20
|
|
6.28
|
|
215.85
|
238.20
|
22.35
|
|
0.45
|
including
|
215.85
|
227.50
|
11.65
|
|
0.55
|
including
|
216.55
|
218.35
|
1.80
|
|
1.02
|
|
|
|
|
242.43
|
278.00
|
35.57
|
|
0.64
|
including
|
250.52
|
254.48
|
3.96
|
|
1.05
|
including
|
262.80
|
272.00
|
9.20
|
|
1.05
|
including
|
262.80
|
269.05
|
6.25
|
|
1.23
|
C19-08
|
1.5
|
90
|
-60
|
220.75
|
230.50
|
9.75
|
|
0.59
|
|
238.00
|
294.00
|
56.00
|
35.00
|
13.49
|
|
238.00
|
238.50
|
0.50
|
|
41.20
|
including
|
246.50
|
247.50
|
1.00
|
|
22.07
|
including
|
257.00
|
258.00
|
1.00
|
|
16.18
|
including
|
263.50
|
294.00
|
30.50
|
|
22.12
|
including
|
264.50
|
281.00
|
16.50
|
|
34.18
|
including
|
271.00
|
281.00
|
10.00
|
|
53.57
|
including
|
271.00
|
272.50
|
1.50
|
|
111.85
|
including
|
274.50
|
281.00
|
6.50
|
|
56.50
|
including
|
274.50
|
279.50
|
5.00
|
|
71.00
|
including
|
284.00
|
288.00
|
4.00
|
|
23.50
|
including
|
284.50
|
287.00
|
2.50
|
|
28.66
|
|
309.50
|
311.00
|
1.50
|
|
0.80
|
* Lengths are reported as
core lengths. True widths vary depending on drill hole
dip.
|
Colomac Summary of Drilling
Sixteen holes tested
selective areas of the Colomac Main sill as presented in Table 1.
Targeting focused on further delineating Zone 1.5, as well as
drilling other higher-grade prospects identified within three other
mineralized zones along the sill further to the south (Figure 1).
All holes reported gold intercepts, with several intersecting broad
widths of extensive mineralization; a positive indication that
these areas may host additional high-grade domains.
Zone 1.5
Three holes were drilled from two setups at
Zone 1.5 to infill gaps in drill coverage and explore the zone's
possible southern up-plunge extension (Figure 1). Hole C19-08 was
drilled into an opening 75 metres south of the high-grade Zone 1.5
discovery hole C14-06 (see press release dated September 18, 2018) and intersected an intensely
mineralized region 240 metres below surface that returned the best
intercept reported to-date intersecting 56.00 metres of 13.49 gpt
Au, including 30.50 metres of 22.12 gpt Au, and including 16.50
metres of 34.18 gpt Au, and including 10.00 metres of 53.57 gpt Au
(Figure 2). This recent drilling has confirmed the presence of
high-grade gold mineralization further south and deeper on this
section than previously known while underscoring the zone's
somewhat nuggety but widespread high-grade nature.
Holes C19-02 and C19-02B were
collared 125 metres north of C19-08 (Figure 1) to test the zone
down-plunge to the north. Hole C19-02 intersected 111.00 metres of
2.00 gpt Au, including 23.75 metres of 3.74 gpt Au, and including
9.75 metres of 4.93 gpt Au to a vertical depth of 340 metres
(Figure 3). The steeper of the two holes, C19-02B, deviated off section to the south but stayed
within mineralization almost 200 metres below C19-02 intersecting
89.50 metres of 1.10 gpt Au, including 32.25 metres of 2.03 gpt Au;
and 5.25 metres of 4.38 gpt Au to a depth of 740 metres.
Zone 2.0
Zone 2.0 is located midway along the
9-kilometre-long host Colomac Main sill at the site of Colomac's
historical open pit mine (Figure 1). It also accounts for a
significant portion of Colomac's current NI 43-101 Inferred Mineral
Resource estimate of 50.305 million tonnes with an average grade of
1.62 gpt Au for 2.613 million ounces of gold using a cut-off grade
of 0.7 gpt Au (see press release dated June
13, 2018). While central to the Colomac story, Zone 2.0
remains largely unexplored to depth.
Holes C19-04, 04B and C19-06,
06B were drilled to explore the
northern down-plunge extension of mineralization previously
intersected by the C18-25 and C18-27 series holes (see press
release dated November 09, 2018).
C19-04 was collared 45 metres north of C18-27 and successfully
extended the high-grade mineralization further north by
intersecting 38.95 metres of 1.65 gpt Au, including 5.25 metres of
7.15 gpt Au. The steeper C19-04B
tracked 130 metres below C19-04 intersecting weaker mineralization
as it appears to have undercut the core of the plunging
higher-grade material. Holes C19-06 and C19-06B were drilled 40 metres north of C19-04, and
although both holes intersected broad domains of mineralization,
they did not encounter significant higher-grade mineralization on
this section.
Zone 2.5
Three holes were drilled from a common setup
to explore the southern up-plunge extension of
mineralization previously intersected by C18-25 and C18-27,
which spans from southern part of Zone 2.0 into the northern part
of Zone 2.5. Hole C19-01 was abandoned in shallow overburden due to
technical difficulties and recollared as C19-01B which intersected moderate mineralization 100
metres below surface. C19-01C, the steeper of the two holes, ran
120 metres below the upper hole and looks to have undercut the
higher-grade core of the zone. Both holes intersected
mineralization but not of the intensity as encountered down-plunge
to the north.
Zone 3.0
In 2016 Nighthawk drilled two holes to test
the high-grade potential of Zone 3.0, to expand the northern limits
of the zone and its near surface resource, and to infill an
untested shallow resource gap between Zone 3.0 and the southern
boundary of the less defined Zone 2.5 (see press release dated
December 21, 2016). In 2018, two
follow-up holes were drilled to continue testing the zone's
high-grade potential (see press release dated November 19, 2018). Both campaigns proved
successful in extending the zone northward and tracking its
extensive mineralization to new depths where it remains open below
200 metres.
Five holes were recently drilled from two setups 100 metres
apart to broaden exploration laterally and to depth. Holes C19-07,
07B, and 07C were collared at the
northern boundary of the zone to track projected mineralization
down-plunge on a section that had never been drilled (Figure 1).
The shallow hole C19-07, intersected 35.45 metres of 2.14 gpt Au,
including 10.95 metres of 3.90 gpt Au, and including 2.75 metres of
8.17 gpt Au. Hole C19-07B intersected
35.10 metres of 1.32 gpt Au, including 13.25 metres of 2.33 gpt Au,
and including 5.55 metres of 4.43 gpt Au (Figure 4). The steepest
hole on the section, C19-07C, intersected extensive mineralization
but not to the same degree as the two upper holes; however,
collectively they have extended the zone's higher-grade core
upwards of 125 metres in strike and to a depth of 250 metres and
remains open.
Holes C19-05 and C19-05B were
intended to infill a gap in drill coverage within the central
portion of the zone. Broad intercepts of mineralization were
encountered highlighted by C19-05B
which returned 40.90 metres of 0.97 gpt Au, including 11.35 metres
of 1.91 g/t, and hole C19-05 which intercepted 14.70 metres of 1.05
gpt Au. Drilling throughout the duration of this program will
continue to explore the zone to depth and along strike.
C19-03 was drilled along the southern boundary of Zone 3.0 to
explore the section below high-grade mineralization intersected in
holes C18-19 and C18-19B (see press
release dated November 19, 2018).
C19-03 was the lowest cut on this section, 70 metres below
C18-19B, but failed to record similar
widths and grades, perhaps an indication that it traversed
underneath the plunging zone.
The discovery and on-going delineation of higher-grade domains
internal to Zones 1.5, 2.0, 2.5, 3.0 and 3.5, has confirmed the
sill's capacity to host discrete corridors of elevated grade, and
that similar zones probably exist elsewhere within the Colomac area
sills. Given their potential size, continuity, and contained
ounces, these targets remain a prime exploration focus for the
Company.
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 Global
Assay Laboratory in Vancouver, BC ("ALS
Global"). ALS Global is an ISO/IEC 17025 accredited
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 Global.
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 July 26,
2018, as filed under the company's profile
on www.sedar.com.
NIGHTHAWK GOLD CORP., Tel: 1-647-794-4313; Email:
info@nighthawkgold.com, Website: www.nighthawkgold.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 the Company's continued exploration
programs (including size and budget) and the ability to advance
targets and the timing and results thereof; the ability to expand
the current resource at Colomac with additional drilling and the
ability to discover and define new higher-grade gold zones
including any impact on the overall grade; and the closing of the
bought-deal financing, the use of proceeds and the Toronto Stock
Exchange acceptance. 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, 2018,
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.