Highlighted Intercept - Hole C19-19 returns
60.75 metres of 2.61 gpt Au, including 13.40 metres of 4.45 gpt Au,
and including 7.75 metres of 6.85 gpt Au
TSX: NHK
TORONTO, June 26, 2019 /CNW/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK) is
pleased to provide additional drilling results from the Colomac
Gold Project ("Colomac"), centrally located within its 100%
owned Indin Lake Gold Property, Northwest
Territories, Canada. Nine drillholes (2,992 metres), were
recently completed, that targeted select areas within the
south-central portion of Zone 2.0 of the Colomac Main sill,
considered favourable for hosting higher-grade mineralization (see
Table 1; Figures 1, 2, and 3). Drilling spanned a 500-metre section
of the zone with all holes intersecting mineralization, highlighted
by hole C19-19 which returned 60.75 metres grading 2.61 grams per
tonne ("gpt") gold ("Au"), including 13.40 metres of
4.45 gpt Au, and including 7.75 metres of 6.85 gpt Au.
Dr. Michael Byron, President
and Chief Executive Officer said, "Zone 2.0 is the location of
the former producing open pit. It is also the widest section of the
sill and contains the largest portion of the current resource. With
these latest results we have successfully traced a newly discovered
continuous higher-grade corridor within the southern part of the
zone, to a vertical depth of almost 350 metres where it remains
open in all dimensions. These results are a true testament to the
sill's remarkable untapped endowment. Being largely unexplored to
depth, we consider this area to be extremely valuable for resource
growth opportunities, as well as a strong candidate for hosting
additional higher-grade mineralization."
"We are approaching our halfway point in terms of metres drilled
and are on track to easily surpass our originally planned 35,000
metres. At present we have two drills in operation at Colomac with
the third now active at Treasure
Island, located 12 kilometres to the north. Later in the
program drills will be mobilized to some of our other high-priority
regional prospects as we continue to advance our thesis that the
Indin Lake Greenstone Belt has the potential to become Canada's next gold camp."
Zone 2.0 Drilling Highlights:
- Hole C19-19 intersected 60.75 metres of 2.61 gpt Au (47.00
metres true width), including 13.40 metres of 4.45
gpt Au, and including 7.75 metres of 6.85 gpt Au;
a lower interval returned 26.95 metres of 3.20 gpt Au,
including 8.15 metres of 5.16 gpt Au.
- Hole C19-12 intersected 55.00 metres of 2.31 gpt Au (20.00
metres true width), including 27.00 metres of 3.10 gpt Au
gold, and including 7.50 metres of 7.31 gpt Au, and 3.75
metres of 13.78 gpt Au.
- Recent drilling followed up on the initial successes achieved
by the 2018 program within the southern portion of Zone 2.0 by
tracing a new broad zone of higher-grade mineralization from near
surface to a depth of 350 metres where it remains open.
- Drilling to-date within Zone 2.0 has continued to document
distinct broad domains of mineralization with localized corridors
of higher-grade material that appear to plunge steeply to the
north, and which remain largely unexplored to depth.
- The newly established presence of higher-grade corridors within
Zones 1.5, 2.0, 2.5, 3.0, and 3.5, support the likelihood that
additional higher-grade regions exist along the sill's 9-kilometre
length, as well as within the other parallel satellite sills. These
opportunities remain a focus for the Company as they represent the
greatest prospects for resource growth.
Note: All assays are uncut (see Table 1)
The Company commenced drilling at Colomac in early March and
will continue until late September. With our increased exploration
budget, we expect to complete in excess of 20,000 metres at
Colomac, which along with the 17,319 metres completed in 2018 will
form the basis of a resource update in 2020. Exploration activities
will continue to concentrate on the discovery and expansion of
higher-grade gold opportunities within the Colomac area sills and
will also include expanded drill programs on some of Nighthawk's
high-priority regional prospects while continuing aggressive field
exploration programs 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
|
|
|
|
|
|
|
|
|
|
C19-09
|
2.0
|
282
|
-45
|
153.95
|
157.00
|
3.05
|
|
1.56
|
|
205.00
|
207.25
|
2.25
|
|
0.60
|
|
216.25
|
221.50
|
5.25
|
|
0.42
|
including
|
216.25
|
218.50
|
2.25
|
|
0.83
|
including
|
216.25
|
217.00
|
0.75
|
|
2.09
|
C19-09B
|
2.0
|
282
|
-60
|
232.25
|
236.75
|
4.50
|
|
0.59
|
including
|
235.25
|
236.75
|
1.50
|
|
1.48
|
|
265.00
|
268.00
|
3.00
|
|
0.54
|
C19-12
|
2.0
|
287
|
-70
|
215.50
|
221.50
|
6.00
|
|
0.67
|
including
|
218.50
|
221.50
|
3.00
|
|
0.92
|
|
226.25
|
281.25
|
55.00
|
20.00
|
2.31
|
including
|
228.75
|
271.00
|
42.25
|
|
2.66
|
including
|
228.75
|
255.75
|
27.00
|
|
3.10
|
including
|
228.75
|
236.25
|
7.50
|
|
7.31
|
|
|
|
|
|
|
including
|
228.75
|
232.50
|
3.75
|
|
13.78
|
including
|
250.00
|
255.75
|
5.75
|
|
3.85
|
including
|
252.75
|
255.75
|
3.00
|
|
4.17
|
including
|
268.75
|
280.00
|
11.25
|
|
2.58
|
including
|
268.75
|
273.25
|
4.50
|
|
4.68
|
including
|
268.75
|
271.00
|
2.25
|
|
8.13
|
|
288.00
|
291.50
|
3.50
|
|
0.78
|
including
|
291.00
|
291.50
|
0.50
|
|
3.59
|
|
308.25
|
309.75
|
1.50
|
|
1.07
|
|
328.50
|
332.50
|
4.00
|
|
1.26
|
including
|
328.50
|
330.25
|
1.75
|
|
1.66
|
C19-12B
|
2.0
|
287
|
-80
|
292.00
|
367.00
|
75.00
|
15.00
|
0.52
|
including
|
292.00
|
298.75
|
6.75
|
|
0.98
|
including
|
293.50
|
295.75
|
2.25
|
|
2.26
|
including
|
326.50
|
355.25
|
28.75
|
|
0.76
|
including
|
334.00
|
355.25
|
21.25
|
|
0.92
|
including
|
342.00
|
355.25
|
13.25
|
|
1.08
|
including
|
342.00
|
347.75
|
5.75
|
|
1.52
|
including
|
352.00
|
355.25
|
3.25
|
|
1.20
|
C19-13
|
2.0
|
287
|
-55
|
220.75
|
248.75
|
28.00
|
15.00
|
0.56
|
including
|
224.00
|
240.00
|
16.00
|
|
0.82
|
including
|
233.20
|
240.00
|
6.80
|
|
1.23
|
including
|
235.90
|
237.00
|
1.10
|
|
3.96
|
|
264.50
|
266.75
|
2.25
|
|
0.61
|
C19-13B
|
2.0
|
287
|
-70
|
300.00
|
305.00
|
5.00
|
|
0.33
|
|
308.75
|
311.00
|
2.25
|
|
0.53
|
|
320.00
|
323.25
|
3.25
|
|
0.83
|
|
363.65
|
364.65
|
1.00
|
|
0.93
|
C19-16
|
2.0
|
287
|
-55
|
193.50
|
202.75
|
9.25
|
|
0.43
|
including
|
193.50
|
195.75
|
2.25
|
|
0.93
|
including
|
200.75
|
202.75
|
2.00
|
|
0.57
|
|
220.50
|
224.25
|
3.75
|
|
0.43
|
|
231.75
|
238.65
|
6.90
|
|
0.73
|
including
|
235.75
|
238.65
|
2.90
|
|
1.29
|
C19-16B
|
2.0
|
287
|
-70
|
251.30
|
262.62
|
11.32
|
|
0.81
|
including
|
251.30
|
259.00
|
7.70
|
|
1.03
|
including
|
252.75
|
255.50
|
2.75
|
|
1.62
|
|
276.00
|
288.00
|
12.00
|
|
0.44
|
including
|
283.75
|
287.25
|
3.50
|
|
0.71
|
C19-19
|
2.0
|
280
|
-45
|
269.25
|
330.00
|
60.75
|
47.00
|
2.61
|
including
|
269.25
|
282.65
|
13.40
|
|
4.45
|
including
|
272.00
|
282.00
|
10.00
|
|
5.75
|
including
|
274.25
|
282.00
|
7.75
|
|
6.85
|
including
|
276.25
|
280.20
|
3.95
|
|
10.81
|
including
|
293.80
|
320.75
|
26.95
|
|
3.20
|
including
|
294.55
|
302.70
|
8.15
|
|
5.16
|
including
|
298.10
|
302.70
|
4.60
|
|
6.94
|
including
|
312.00
|
320.75
|
8.75
|
|
3.30
|
including
|
313.25
|
318.25
|
5.00
|
|
4.77
|
including
|
313.25
|
316.75
|
3.50
|
|
5.72
|
* Lengths are reported as core
lengths. True widths vary depending on drill hole
dip.
|
Zone 2.0 Drill Summary
Zone 2.0 is located near the
centre of the Colomac Main sill and despite being the site of the
former producing open pit mine, it remains unexplored to depth.
In 2012, the Company drilled its first hole into the sill
beneath the open pit, where hole C12-001B intersected 128 metres of 1.36 gpt Au,
including 71.85 metres of 2.04 gpt Au, 46.15 metres of 2.81 gpt Au,
and 8.65 metres of 6.83 gpt Au (see press release dated
June 20, 2012), indicating the
existence of new higher-grade mineralization that was unconstrained
and open to depth. This first hole established the possibility, and
helped define an exploration philosophy, that additional shoots
probably exist along the sill that would represent a potential
resource that had not previously been identified or explored.
To follow up on that early work nine holes were drilled over a
500-metre section of south-central Zone 2.0 to test for new areas
of strong mineralization, to explore the plunge projection of
previous drilled higher-grade areas, and to infill gaps in
near-surface drill coverage (Figure 1). All holes intersected
mineralization, including several broad intercepts with internal
higher-grade cores (Table 1). The presence of well-developed
mineralized widths within the sill, and corresponding signs of
internal continuity of elevated grade within and between drill
sections, are in accordance with the possible existence of
high-grade domains. Additional drilling is required to better
define this opportunity.
Hole C19-19, the most northern of the nine holes, targeted the
depth extension of mineralization reported in a historical vertical
hole, and intersected a wide zone of extensive mineralization 200
metres below surface returning 60.75 metres of 2.61 gpt Au,
including 13.40 metres of 4.45 gpt Au, and including 7.75 metres of
6.85 gpt Au (Figure 2). A lower downhole interval assayed 3.20 gpt
Au over 26.95 metres, including 8.15 metres of 5.16 gpt Au. The
higher-grade core to the intercept may indicate the presence of a
plunging shoot similar to Zone 1.5. This represents an exciting new
opportunity, as in this part of the sill no other holes exist that
would otherwise help to establish correlations laterally, thus the
prospect remains open for exploration in both plunge directions.
Two additional holes were drilled from the same setup to explore
below C19-19 adding a further 140 metres of new coverage to depth.
Results from those holes are pending.
Holes C19-13 and C19-13B were
drilled 210 metres southwest of C19-19 to explore an opening in
drill coverage to depth and to test the projected extension of
strong mineralization intersected in C18-26 and C18-26B (see press release dated November 19, 2018). Both C18-26 series holes
intersected shallow but extensive mineralization highlighted by
25.25 metres of 3.42 gpt Au, including 12.75 metres of 5.05 gpt Au,
and 7.25 metres of 7.10 gpt Au, and outlined a higher-grade
internal core that appears to plunge steeply to the north (Figure
3A). Holes C19-13 and C19-13B
encountered mineralization to a vertical depth of 280 metres but
not to the same extent, perhaps an indication that the
mineralization intersected by the C18-26 holes projects deeper on
this section.
Holes C19-16 and C19-16B were
collared 50 metres south of C19-13 to infill a gap in drill
coverage and explore the downplunge projection of mineralization
intersected in the C18-26 series holes (Figure 1). Similar
mineralization to what was reported for the C19-13 holes was
intersected to a depth of 230 metres, suggesting the holes may have
tracked above the north plunging higher-grade corridor on this
section. Additional infill drilling is needed to better define the
zone's plunging geometry.
Holes C19-12 and C19-12B lie 150
metres southwest of C19-16 and 15 metres north of C18-26 (Figure
1). They were established to continue drilling the section to depth
below the C18-26 holes (Figure 3A). The shallower hole, C19-12,
intersected 55.00 metres of 2.31 gpt Au, including 27.00 metres of
3.10 gpt Au gold, and including 7.50 metres of 7.31 gpt Au, and
3.75 metres of 13.78 gpt Au, while the steeper hole
C19-12B intersected a broad area of
lower-grade mineralization as it appears to have undercut the
zone's north plunging higher-grade core (Figure 3B). The four holes now completed on this section
have traced continuous higher-grade mineralization from the near
surface to 350 metres depth and open. Additional drilling is
required to better constrain the zone downplunge to the north.
C19-09 and C19-09B were drilled to
explore the southern up-plunge extension of the mineralization
intersected by the C19-12 and C18-26 series holes. The holes were
collared 75 metres south of C19-12 to explore a shallow region
between 125 metres to 200 metres below surface (Figure 1). Although
both holes intersected mineralization, they may have tracked too
deep on this section and undercut the zone's higher-grade core.
Additional shallow drilling is being considered to better define
the zone's near surface geometry.
The Company has now reported on 25 holes representing 8,321
metres of its planned 35,000 metre to 40,000 metre 2019 drill
program. All holes have intersected mineralization and continue to
confirm the sill's capacity to host broad zones of continuous
mineralization that typically surround internal cores of elevated
grade. Given their considerable widths and depth extents, their
grossly unexplored nature, and their potential to generate ounces,
they represent extremely important exploration targets 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.
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; and 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. 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.
SOURCE Nighthawk Gold Corp.