Nighthawk Gold Corp. (“Nighthawk” or the
“Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to
report additional drill assay results from the Colomac Main Deposit
within the Colomac Centre Area.
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the full release here:
https://www.businesswire.com/news/home/20220907005271/en/
Figure 1 – Colomac Main Deposit (Zone
3.5) Isometric View Looking West (Graphic: Business Wire)
Table 1 – Highlight Drill Assay Results from the Colomac Main
Deposit
Hole ID
Deposit
Highlight Assay Result
C22-27
Colomac Main (Zone 3.5)
271.40 grams per tonne (“g/t
Au”) over 1.00 metre (“m”)
C22-26
Colomac Main (Zone 3.5)
1.51 g/t Au over 70.75 m (including 3.12
g/t Au over 17.35 m)
C22-17
Colomac Main (Zone 1.0)
7.57 g/t Au over 9.50 m (including 23.94
g/t Au over 1.90 m)
C22-25
Colomac Main (Zone 1.5)
0.53 g/t Au over 126.00 m (including 6.36
g/t Au over 0.50 m)
C22-11
Colomac Main (Zone 1.5)
0.40 g/t Au over 91.00 m (including 7.81
g/t Au over 1.00 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 from the Colomac Main Deposit, like the
other deposits that we have drilled in our district-scale land
package, continues to demonstrate the potential for further mineral
resource expansion along strike and at depth.”
Colomac Main Deposit
The Colomac Centre Area (please refer to Figure 4 for the
Regional Map) represents a group of five proximal deposits (Colomac
Main, Grizzly Bear, Goldcrest, 24 & 27) in the heart of the
Colomac Gold Project. The latest batch of drill assay results from
the Colomac Main Deposit (please refer to Figure 5 for the Local
Map of the Drill Hole Locations) focused on the potential north-end
(Zones 1.0 and 1.5) and south-end (Zone 3.5) extensions of the
deposit along strike. Below is a summary for each of the zones
drilled at the Colomac Main Deposit:
- Zone 1.0: Higher-grade, near-surface mineralization
(highlighted by hole C22-17) was encountered outside of the 2022
Mineral Resource Estimate1 (“2022 MRE”) pit shells,
suggesting the potential expansion of known mineralization in that
area. Please refer to Figures 3 and 8 for the Isometric and Section
#3 Views, respectively, of the highlight drill assay results in
Zone 1.0.
- Zone 1.5: The Company encountered wide intervals of
mineralization of up to 126 m (highlighted by hole C22-25). New
mineralization was also intersected across a fault previously
bounding the known mineralization to the south. Please refer to
Figures 2 and 7 for the Isometric and Section #2 Views,
respectively, of the highlight drill assay results in Zone
1.5.
- Zone 3.5: Nighthawk extended the mineralization zone to
the south by approximately 100 m, including higher-grade
intercepts. Mineralization continues to be wider at depth like the
historical drilling from this area. Mineralization is hosted within
traditional quartz diorite but also quartz gabbro, which opens the
prospective ground for future exploration to the south. Previous
drilling to the south only tested for very shallow mineralization
hosted in quartz diorite. Please refer to Figures 1 and 6 for the
Isometric and Section #1 Views, respectively, of the highlight
drill assay results in Zone 3.5.
Please refer to Tables 1 and 2 for the Highlight Drill Assay
Results and Drill Assay Results Summary of the latest batch of
drilling at the Colomac Main Deposit.
_________________________
1 For 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.
Table 2 – Drill Assay Results Summary – Colomac Main
Deposit
Hole ID
Interval (m)
Core Length
Gold Grade
From
To
(m)
(g/t Au)
Colomac Main
C22-06
No Sampling
C22-07
176.75
181.25
4.50
2.30
and
196.50
217.00
20.50
0.72
and
229.00
233.50
4.50
1.02
C22-09
No Significant Intervals
C22-11
43.00
134.00
91.00
0.40
including
133.00
134.00
1.00
7.81
and
175.00
181.00
6.00
0.63
C22-17
148.00
157.50
9.50
7.57
including
150.60
152.50
1.90
23.94
and
215.00
216.00
1.00
1.14
and
220.10
220.50
0.40
2.51
C22-18
46.00
47.50
1.50
1.85
and
68.00
75.00
7.00
0.56
and
92.25
93.45
1.20
1.59
and
131.00
132.50
1.50
2.13
and
196.00
197.00
1.00
2.59
and
209.00
221.00
12.00
0.62
C22-19
95.25
95.75
0.50
2.70
and
112.00
136.50
24.50
0.46
C22-20
135.25
143.00
7.75
0.40
and
155.50
168.25
12.75
1.01
including
157.75
158.25
0.50
10.30
and
185.00
195.00
10.00
0.44
C22-21
97.50
99.50
2.00
1.48
C22-22
83.00
157.50
74.50
0.46
including
129.75
130.50
0.75
8.48
C22-23
254.75
294.25
39.50
0.85
including
289.00
289.50
0.50
6.58
and
319.00
323.00
4.00
3.30
and
334.00
334.50
0.50
8.76
C22-24
158.00
163.75
5.75
3.53
including
161.50
162.25
0.75
18.30
and
225.50
226.50
1.00
11.10
C22-25
83.50
209.50
126.00
0.53
including
141.00
141.50
0.50
6.36
and
226.40
226.90
0.50
2.15
C22-26
209.50
280.25
70.75
1.51
including
209.50
226.85
17.35
3.12
and
300.50
301.00
0.50
8.95
C22-27
170.00
171.00
1.00
271.40
and
237.80
238.80
1.00
1.07
C22-28
No Significant Intervals
C22-31
145.00
175.00
30.00
0.51
and
186.00
187.00
1.00
1.27
and
195.00
196.00
1.00
1.55
and
224.00
230.00
6.00
0.66
and
243.00
258.25
15.25
0.43
and
274.00
305.85
31.85
0.61
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
Colomac Main (Zone 1.5)
C22-06
592268
7143990
382
75
90
-50
Colomac Main (Zone 1.0)
C22-07
592239
7145378
367
324
95
-59
Colomac Main (Zone 1.0)
C22-09
592189
7145545
375
261
90
-49
Colomac Main (Zone 1.5)
C22-11
592309
7143840
374
222
270
-73
Colomac Main (Zone 1.0)
C22-17
592381
7144978
369
252
270
-52
Colomac Main (Zone 1.5)
C22-18
592209
7143907
382
264
115
-60
Colomac Main (Zone 1.0)
C22-19
592359
7144682
368
177
270
-45
Colomac Main (Zone 1.0)
C22-20
592359
7144682
368
261
270
-68
Colomac Main (Zone 1.0)
C22-21
592212
7144648
388
168
90
-45
Colomac Main (Zone 1.5)
C22-22
592209
7143907
382
168
115
-70
Colomac Main (Zone 3.5)
C22-23
591754
7140701
340
375
295
-70
Colomac Main (Zone 1.5)
C22-24
591665
7140684
345
261
295
-70
Colomac Main (Zone 1.0)
C22-25
592208
7143907
382
372
115
-70
Colomac Main (Zone 1.0)
C22-26
591665
7140684
345
333
295
-80
Colomac Main (Zone 1.0)
C22-27
591611
7140571
348
252
295
-55
Colomac Main (Zone 1.0)
C22-28
592237
7143914
382
99
80
-50
Colomac Main (Zone 1.5)
C22-31
592237
7143914
382
306.3
80
-75
Technical Information
The pit shell outlines in Figures 1 to 8 are from the 2022 MRE1
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 Estimate1 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220907005271/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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