TORONTO, May 4, 2021 /CNW/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK) (OTCQX:
MIMZF) is pleased to announce that it has received Water License
and Land Use Permit for the recently optioned Kim & Cass
Property (see press release dated February
19, 2021). The Kim & Cass Property consists of a total
of 7,588 acres (31km2) that incorporate the historic Kim
and Cass zones ("Kim", and "Cass", respectively), and
is located approximately 15km southwest of the Colomac Main Deposit
("Colomac"), immediately adjacent to the main Indin Lake
Gold Property claim group (Figure 1), Northwest Territories, Canada.
The Kim & Cass Property is a high-priority target for this
year's exploration program as Cass already has a historical
non-compliant resource and is located immediately adjacent to the
Company's Albatross Target (Figure 2). Cass, along with the
Albatross Target are part of a 7km long favourable trend, which has
seen limited drilling in the past. In addition, the Kim Zone
further to the northeast provides an additional 3km of highly
prospective and underexplored strike length. Exploration at Cass
aligns with the strategy of identifying near-surface mineralization
proximal to Colomac. Drilling will focus on preliminary testing of
the northern and southern extension of the zone in an effort to
extend mineralization along strike, while additional work will be
conducted to bring the zone into compliance with NI 43-101
standards.
Nighthawk's President & CEO, Keyvan Salehi commented, "We are very
pleased to have received our licences and permits to commence
drilling at Cass, and the fifth drill will mobilize immediately.
Given the higher-grade nature and continuity of mineralization
encountered by historic drilling, along with a successful drill
program by Nighthawk in 2014 (see Table 1), we believe there is
significant room for expansion of mineralization along strike and
at depth. Together with our Albatross Target, this is a highly
prospective target area given its 7km long trend with historic
drilling and surface samples."
Cass Zone - Highlights of Historical Resource and
Drilling
Cass has a historic non-compliant resource which
outlined 2,857,093 tonnes at an average grade of 2.66 g/t Au for
245,311 ounces of gold (see Nighthawk press release dated
December 18, 2013). The resource was
estimated prior to the implementation of NI 43-101 standards, where
previous work defined historic gold resource estimates that have
yet to be fully evaluated, and therefore should not be relied upon.
A qualified person has not done sufficient work to classify the
historical estimates as current mineral resources or
reserves. Furthermore, the Company is not treating the
historical estimates as current mineral resources or reserves as
defined by NI 43-101 as the Company is not able to assess the work
required to upgrade to a compliant resource at this time.
Over 32,000 metres of historic drilling was completed on both
Kim & Cass and a modest program by Nighthawk consisting of
2,926 metres of drilling in 2014 at Cass, which successfully
extended the mineralized corridor by an additional 700 metres,
where it remains open at depth and along strike (see
highlighted results in the table below).
Table 1 - Cass Zone – Highlights of Historical & 2014 NHK
Drilling
Hole
ID
|
Interval
(Metres)
|
Core
Length
|
Gold
Grade
|
From
|
To
|
(Metres)
|
(g/t)
|
Historical
Drilling1
|
C86-18
|
18.85
|
22.40
|
14.55
|
3.42
|
And
|
38.70
|
65.35
|
26.25
|
6.53
|
C86-27
|
48.10
|
89.50
|
41.40
|
3.35
|
C86-34
|
97.30
|
134.15
|
36.85
|
5.67
|
C87-16
|
106.20
|
186.90
|
80.70
|
4.53
|
C95-05
|
122.00
|
170.00
|
48.00
|
4.15
|
C95-06
|
153.00
|
205.00
|
52.00
|
5.10
|
C95-09
|
82.00
|
105.00
|
23.00
|
7.43
|
2014 NHK
Drilling2
|
CM14-02
|
121.00
|
172.00
|
51.00
|
2.25
|
CM14-04
|
140.00
|
141.70
|
1.70
|
19.36
|
And
|
406.90
|
411.30
|
4.40
|
38.90
|
CM14-06B
|
112.80
|
149.00
|
36.20
|
2.89
|
including
|
118.00
|
140.00
|
22.00
|
4.24
|
BHID
|
Easting
|
Northing
|
Elevation
|
EOH
|
Azimuth
|
DIP
|
C86-18
|
581345.3
|
7131101
|
344.9
|
90
|
280
|
-45
|
C86-27
|
581387.3
|
7131106
|
340.2
|
143
|
280
|
-45
|
C86-34
|
581412.8
|
7131100
|
339.4
|
169.7
|
283
|
-43
|
C87-16
|
581347.2
|
7131061
|
338.7
|
221.1
|
283
|
-50
|
C95-05
|
581158
|
7131102
|
353.2
|
203.4
|
77.5
|
-45
|
C95-06
|
581157
|
7131102
|
353
|
285.6
|
84.2
|
-62.3
|
C95-09
|
581188
|
7131096
|
353.2
|
163.1
|
90.5
|
-45
|
CM14-02
|
581184.2
|
7131038
|
342.66
|
402.01
|
55
|
-65
|
CM14-04
|
581112.5
|
7131001
|
332.79
|
450.01
|
55
|
-65
|
CM14-06B
|
581026
|
7131015
|
334.17
|
234.01
|
100
|
-45
|
*Lengths are
reported as core lengths, true widths are unknown at this
time.
|
Notes:
|
1.
|
These results are
historic in nature and have not been verified by the Company (see
Nighthawk press releases dated March 26, April 10, April 26, and
July 29, 2014, which are available at
www.sedar.com).
|
2.
|
See Nighthawk
press releases dated October 27 and December 3, 2014, which are
available at www.sedar.com.
|
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 200km north of Yellowknife, Northwest Territories, Canada. Within this
largely underexplored Archean gold camp, the Company has identified
a number of high-priority targets all centered around a growing
multi-million-ounce deposit. These targets lie within large
regional deformation zones that are pregnant with gold
mineralization and are known to host significant
deposits which warrant additional exploration and follow-up.
The main goals and objectives over the next 12-24 months will be to
carry out aggressive exploration to support resource expansion
opportunities as well as to foster new, near-surface discoveries
that support the global resource base.
The Company has an experienced and dedicated team with a track
record of successfully advancing projects and is well funded and
supported to advance its goals and objectives.
Qualified Person
Richard Roy
P.Geo., V.P. Exploration 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. Mr. Roy verified the data contained here in by
reviewing available historical reports, logs, assay results and
maps.
|
Keyvan
Salehi
President &
CEO
|
Michael
Leskovec
CFO
|
Suzette N
Ramcharan
VP, Corporate
Development
|
|
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 and the ability to advance targets and the timing and
results thereof; the mineral resource estimate; and access to
available capital to complete all work necessary to achieve the
Company's stated goals and objectives.. 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, 2019,
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.