Nighthawk Gold Corp. (“Nighthawk” or the
“Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to
report additional drill assay results from its 2022 Exploration
Program, with encouraging results from the Grizzly Bear Deposit and
24 and 27 Deposits (collectively, the “24/27 Deposit”)
within the Colomac Centre Area.
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Figure 1 – 24/27 Deposits Isometric View
Looking West (Graphic: Business Wire)
Table 1 – Highlight Drill Assay Results from the 24/27 and
Grizzly Bear Deposits
Hole ID
Deposit
Highlight Assay Result
TFS22-10
24/27
2.91 grams per tonne (“g/t Au”)
over 54.35 metres (“m”) (including 16.28 g/t Au over 2.00
m)
TFS22-08
24/27
2.52 g/t Au over 40.75 m (including 5.07
g/t Au over 18.75 m)
TFS22-27
24/27
4.14 g/t Au over 7.75 m (including 34.40
g/t Au over 0.50 m)
GB22-31
Grizzly Bear
3.02 g/t Au over 20.25 m (including 22.69
g/t Au over 1.00 m)
GB22-29
Grizzly Bear
1.41 g/t Au over 21.50 m (2.50 g/t Au over
10.25 m)
Note: True widths remain undetermined at this stage. All assays
are uncut. Further statistical analysis will be required prior to
establishing a suitable cut grade.
Nighthawk President & CEO Keyvan Salehi commented,
“The latest drill results, combined with results released
previously from Grizzly Bear1 and 24/272 Deposits, demonstrate the
immense potential for mineral resource expansion within the Colomac
Centre.”
24/27 Deposit
The Colomac Centre Area (please refer to Figure 3 for the Plan
View Map) represents a group of five proximal deposits (Colomac
Main, Grizzly Bear, Goldcrest, 24/27) in the heart of the Colomac
Gold Project. The Company continued to intersect higher-grade
intervals from the infill and step-out drilling at the 24/27
Deposit. Nighthawk has identified stacked zones of mineralization,
increasing the width of the mineralized corridor, suggesting the
potential expansion of the mineral resources in the area.
Mineralization continues to remain open in all directions of 24/27
Deposit. Please refer to Figures 1, 4, and 5 for the 24/27 Deposit
drilling Isometric, Plan, and Section views, respectively. Please
refer to Tables 1 and 2 for the Highlight Drill Assay Results and
Drill Assay Results Summary, respectively.
Grizzly Bear Deposit
The Grizzly Bear Deposit is located approximately 800 m
southwest of the Colomac Main Deposit. Mineralization at the
Grizzly Bear Deposit is hosted in smoky quartz veining in the
felsic volcanic porphyry, along the lower contact to the
mafic-intermediate volcanics. The current batch of drill results
intersected downdip mineralized intervals along the boundary and
outside of the pit-constrained Grizzly Bear Deposit 2022 Mineral
Resource Estimate3, suggesting the potential expansion of the
mineral resources in the area. Please refer to Figures 2, 6, 7, and
8 for the Isometric View, Plan View, Section View #1, and Section
View #2 of the Grizzly Bear Deposit drilling, respectively.
Table 2 – Drill Assay Results Summary – Grizzly Bear and
24/27 Deposits
Hole ID
Interval (m)
Core Length
Gold Grade
From
To
(m)
(g/t Au)
Grizzly Bear Deposit
GB22-09
133.50
152.00
18.50
0.40
including
133.50
135.00
1.50
2.24
GB22-12
226.00
227.50
1.50
5.42
GB22-13
No Significant Intervals
GB22-17
43.75
44.50
0.75
2.05
and
83.00
105.25
22.25
1.02
including
103.75
104.75
1.00
11.65
GB22-18
73.25
74.00
0.75
2.79
and
101.25
125.00
23.75
0.59
including
124.25
125.00
0.75
8.69
GB22-19
72.00
73.00
1.00
1.61
GB22-20
132.50
141.75
9.25
0.77
including
141.00
141.75
0.75
5.59
GB22-21
138.00
149.00
11.00
0.97
GB22-22
No Significant Intervals
GB22-23
109.00
126.00
17.00
1.44
including
114.75
115.50
0.75
12.65
GB22-24
65.00
70.25
5.25
1.52
and
121.50
124.00
2.50
6.47
GB22-25
No Significant Intervals
GB22-26
No Significant Intervals
GB22-27
147.40
150.50
3.10
2.05
GB22-28
17.90
18.65
0.75
3.88
and
84.50
104.00
19.50
0.99
including
98.50
99.00
0.50
11.60
GB22-29
104.50
126.00
21.50
1.41
including
115.75
126.00
10.25
2.50
GB22-30
91.65
93.50
1.85
1.07
and
101.00
102.00
1.00
2.10
GB22-31
129.50
149.75
20.25
3.02
including
129.50
130.50
1.00
22.69
GB22-32
78.20
99.25
21.05
0.54
including
80.20
80.70
0.50
9.52
GB22-33
68.50
70.00
1.50
2.36
GB22-34
147.00
147.75
0.75
2.27
24/27 Deposit
TFS22-08
7.25
10.20
2.95
7.36
and
44.00
84.75
40.75
2.52
including
66.00
84.75
18.75
5.07
TFS22-10
49.15
65.00
15.85
0.63
including
64.00
65.00
1.00
6.77
and
101.00
155.35
54.35
2.91
including
101.50
103.50
2.00
16.28
TFS22-12
57.00
58.50
1.50
1.27
and
88.00
89.50
1.50
5.22
and
163.50
182.00
18.50
0.56
including
170.75
172.50
1.75
3.01
and
211.00
234.00
23.00
1.04
including
211.00
211.50
0.50
20.90
TFS22-18
113.00
114.50
1.50
2.31
and
159.65
160.65
1.00
4.95
TFS22-19
Lost Hole
TFS22-23
33.50
35.00
1.50
2.81
and
70.00
71.00
1.00
1.08
TFS22-24
150.50
152.00
1.50
2.04
and
158.75
160.00
1.25
1.46
TFS22-27
53.65
56.40
2.75
0.79
and
82.00
82.50
0.50
2.32
and
104.60
112.35
7.75
4.14
including
111.85
112.35
0.50
34.40
TFS22-28
77.50
79.00
1.50
5.39
and
123.25
125.00
1.75
2.15
and
151.00
166.25
15.25
1.23
TFS22-29
139.00
140.50
1.50
1.13
and
163.50
164.50
1.00
3.19
and
220.00
228.50
8.50
0.67
and
239.75
243.00
3.25
1.27
TFS22-30
68.75
71.00
2.25
1.43
TFS22-31
104.00
104.50
0.50
10.05
TFS22-32
81.30
86.30
5.00
0.57
TFS22-33
78.00
79.00
1.00
2.21
TFS22-23
33.50
35.00
1.50
2.81
and
70.00
71.00
1.00
1.08
TFS22-24
150.50
152.00
1.50
2.04
and
158.75
160.00
1.25
1.46
TFS22-27
53.65
56.40
2.75
0.79
and
82.00
82.50
0.50
2.32
and
104.60
112.35
7.75
4.14
including
111.85
112.35
0.50
34.40
TFS22-28
77.50
79.00
1.50
5.39
and
123.25
125.00
1.75
2.15
and
151.00
166.25
15.25
1.23
TFS22-29
139.00
140.50
1.50
1.13
and
163.50
164.50
1.00
3.19
and
220.00
228.50
8.50
0.67
and
239.75
243.00
3.25
1.27
TFS22-30
68.75
71.00
2.25
1.43
TFS22-31
104.00
104.50
0.50
10.05
TFS22-32
81.30
86.30
5.00
0.57
TFS22-33
78.00
79.00
1.00
2.21
TFS22-34
No Significant Intervals
TFS22-35
228.00
229.00
1.00
4.11
TFS22-36
Lost Hole
TFS22-37
65.00
74.50
9.50
0.88
and
122.75
125.75
3.00
0.98
and
151.50
164.00
12.50
1.76
including
160.50
162.00
1.50
6.88
and
184.00
185.00
1.00
2.89
TFS22-38
No Significant Intervals
TFS22-39
No Significant Intervals
TFS22-40
No Significant Intervals
Note: True widths remain undetermined at this stage. All assays
are uncut. Further statistical analysis will be required prior to
establishing a suitable cut grade.
Deposit
BHID
Easting
Northing
Elevation
Length
Azimuth
Dip
Grizzly Bear
GB22-09
590681
7140318
344
180
300
-45
Grizzly Bear
GB22-12
590699
7140277
353
252
300
-60
Grizzly Bear
GB22-13
590663
7140254
354
225
300
-50
Grizzly Bear
GB22-17
590445
7140018
344
201
330
-45
Grizzly Bear
GB22-18
590445
7140018
344
252
330
-60
Grizzly Bear
GB22-19
590419
7139974
341
252
330
-55
Grizzly Bear
GB22-20
590335
7139900
334
201
310
-45
Grizzly Bear
GB22-21
590335
7139900
334
222
310
-60
Grizzly Bear
GB22-22
590274
7139895
330
150
310
-45
Grizzly Bear
GB22-23
590274
7139895
330
177
310
-60
Grizzly Bear
GB22-24
590184
7139817
324
150
335
-60
Grizzly Bear
GB22-25
590187
7139745
325
225
330
-50
Grizzly Bear
GB22-26
590187
7139745
325
234
330
-60
Grizzly Bear
GB22-27
590158
7139744
325
201
315
-56
Grizzly Bear
GB22-28
590117
7139717
327
156
315
-45
Grizzly Bear
GB22-29
590117
7139717
327
177
315
-55
Grizzly Bear
GB22-30
590085
7139676
329
168
315
-48
Grizzly Bear
GB22-31
590085
7139676
329
204
315
-62
Grizzly Bear
GB22-32
590024
7139667
328
128.2
315
-60
Grizzly Bear
GB22-33
589943
7139607
329
115.7
315
-56
Grizzly Bear
GB22-34
590020
7139635
329
225
315
-72
24/27
TFS22-08
595509
7144839
372
150
95
-50
24/27
TFS22-10
595446
7144810
382
225
95
-45
24/27
TFS22-12
595446
7144810
382
300
95
-65
24/27
TFS22-18
595398
7145197
361
201
70
-60
24/27
TFS22-19
595503
7144746
378
12
95
-45
24/27
TFS22-23
595440
7145192
354
126
70
-50
24/27
TFS22-24
595407
7145180
358.725
225
70
-60
24/27
TFS22-27
595496
7144720
374
150
95
-45
24/27
TFS22-28
595496
7144720
374
225
95
-60
24/27
TFS22-29
595389
7145117
356
276
65
-58
24/27
TFS22-30
595500
7144695
373
150
95
-45
24/27
TFS22-31
595455
7145139
354
210
65
-58
24/27
TFS22-32
595500
7144695
373
225
95
-60
24/27
TFS22-33
595420
7143221
380
348
100
-50
24/27
TFS22-34
595502
7144672
373
45
95
-45
24/27
TFS22-35
595366
7143093
383
351
100
-50
24/27
TFS22-36
595503
7144746
378
21
95
-60
24/27
TFS22-37
595503
7144746
378
195
95
-65
24/27
TFS22-38
595501
7144672
373
21
95
-45
24/27
TFS22-39
595501
7144672
373
177
95
-53
24/27
TFS22-40
595493
7144656
378
162
95
-45
Technical Information
The pit shell outlines in Figures 1 to 8 are from the 2022 MRE3
and were completed by InnovExplo Inc. and are defined by a
US$1,600/oz gold price assumption.
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.
Halved drill core is stored on site and pulps are returned and
stored for record.
As part of its QA/QC program, Nighthawk inserts external gold
standards (low to high-grade), blanks and duplicates every 20
samples in addition to the standards, blanks, and pulp duplicates
inserted by ALS Global.
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for
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.
About Nighthawk
Nighthawk is a Canadian-based gold exploration company with 100%
ownership of more than 930 km2 of district-scale land position
within the Indin Lake Greenstone Gold Belt, located approximately
200 km north of Yellowknife, Northwest Territories, Canada. The
Company is advancing several highly prospective exploration
targets. The Colomac Centre and Satellite deposits currently has a
Mineral Resource Estimate3 of 58.2 million tonnes grading 1.44 g/t
Au for 2.69 million ounces in the Indicated category and 19.7
million tonnes grading 2.10 g/t Au for 1.33 million ounces in the
Inferred category. Nighthawk’s experienced management team, with a
track record of successfully advancing projects and operating
mines, is working towards demonstrating the economic viability of
its assets and rapidly advancing its projects towards a development
decision.
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 mineral resource
estimates, potential expansion of pit-constrained mineralization,
potential expansion of mineral resource estimates, the potential
for higher-grade assay results, continued exploration and drilling
initiatives and having the necessary funding required to complete
these initiatives, the prospectivity of exploration targets, the
potential economic viability of the assets, and the advancement of
projects towards a development decision. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as “add” or “additional”, “advancing”,
“anticipates” or “does not anticipate”, “appears”, “believes”, “can
be”, “continue”, “demonstrating”, “estimates”, “encouraging”,
“expand” or “expanding” or “expansion”, “expect” or “expectations”,
“forecasts”, “forward”, “goal”, “increase”, “intends”,
“justification”, “support”, “plans”, “potential” or “potentially”,
“prospective”, “prioritize”, “reflects”, “scheduled”, “suggesting”,
“updating”, “will be” or “will consider”, “work towards”, ,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, impact of inflation, impact of
the war in Ukraine, risks associated with the COVID-19 pandemic,
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, 2021,
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.
1 Please refer to the Nighthawk July 19, 2022 news release,
which is available on the Company’s website at
www.nighthawkgold.com and in the Company’s profile in
www.sedar.com.
2 Please refer to the Nighthawk July 27, 2022 news release,
which is available on the Company’s website at
www.nighthawkgold.com and in the Company’s profile in
www.sedar.com.
3For more information on the Mineral Resource Estimate (“2022
MRE”) please refer to the March 8, 2022 news release and in the
Company’s NI 43-101 technical report entitled “NI 43-101 Technical
Report and Update of the Mineral Resource Estimate for the Indin
Lake Gold Property, Northwest Territories, Canada” and dated March
31, 2022 (“Technical Report”), which is available on SEDAR
www.sedar.com and on the Company’s website at
www.nighthawkgold.com. John McBride, Vice President of Exploration
of Nighthawk, who is the “Qualified Person” as defined by NI
43-101, has reviewed, and approved of the scientific and technical
disclosure contained in this news release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220901005119/en/
NIGHTHAWK GOLD CORP. Tel: 1-416-880-7090; Email:
info@nighthawkgold.com Website: www.nighthawkgold.com
Keyvan Salehi President & CEO
Michael Leskovec CFO
Allan Candelario VP, Investor Relations & Corporate
Development
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