TORONTO, June 9, 2020 /PRNewswire/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK) (OTCQX:
MIMZF) is pleased to provide an update on the construction progress
of the Tłı̨chǫ All-Season Road Project ("TASR"), a
permanent 97 km two-lane gravel highway that will provide
year-round access to the Community of Whatı̀ by connecting to
Hwy 3 west of Yellowknife, Northwest
Territories, Canada.
Dr. Michael Byron, President
& CEO commented, "We are very pleased to see roadwork
progress so quickly and have been advised that construction is
ahead of schedule. This project is important for industry and local
residents 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 demonstrates the territory's commitment to
infrastructure development. While Nighthawk is not dependent on
winter road access as we utilize our 5,000ft air strip to transport
people and supplies as needed, the TASR will ultimately result in
much better winter road access to our Indin Lake Gold
Property."
Cosntruction of the TASR commenced in September 2019 and was suspended due to Covid-19
with construction resuming mid-May. The updated schedule
anticipates the road to be open to the public by Fall 2021.
Update as of March 2020 – For more
information please visit the official website of the Government of
the Northwest Territories.
Construction
- 97 kilometres of right-of-way clearing has been complete
- 36 kilometres of embankment construction has been complete
- Installation of surface material granular base material is
scheduled for 2020
- Culvert installations will resume this spring
- 22 bridge piles have been installed
- Girders have been installed for La Martre Bridge
Jobs and Training
- Total workers employed: 124
- Tłı̨chǫ: 32; Northern: 16; Southern: 76
- Female: 10
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.
- 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.
Annual Meeting of Shareholders
As a result of the
COVID-19 pandemic the Company has decided to postpone the annual
meeting of shareholders to a later date in 2020 to enable
greater participation of its shareholders and a better forum
for communication. In accordance with Ontario Instrument 51-504 -
Temporary Exemptions from Certain Requirements to File or Send
Securityholder Materials of the Ontario Securities Commission,
the Company will be delaying the public filing of its
executive compensation disclosure until the filing of its
management information circular in connection with its
annual meeting of shareholders. Information pertaining to the
annual meeting of shareholders will be provided in due course.
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 12
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 13, 2018, as
filed under the company's profile on www.sedar.com.
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SOURCE Nighthawk Gold Corp.