Nighthawk Gold Corp. (“Nighthawk” or the
“Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to report
assay results from drilling at the Cass Deposit, part of the Kim
and Cass Deposits, which are within 15 kilometres of the Colomac
Centre Area.
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Figure 1 – Cass Deposit Isometric View
Looking Northwest (Graphic: Business Wire)
Table 1 – Highlight Drill
Assay Results from the Kim and Cass Deposits
Hole ID
Deposit
Highlight Assay Result
CM22-22
Cass
232.18 grams per tonne (“g/t Au”) over
2.00 metres (“m”)
(including 916.00 g/t Au over
0.50 m)
CM22-07
Cass
125.50 g/t Au over 0.50
m
CM22-31
Cass
2.67 g/t Au over 33.50 m (38.57
g/t Au over 1.50 m)
CM22-29
Cass
3.15 g/t Au over 24.00 m (including
21.05 g/t Au over 2.00 m)
CM22-10
Cass
1.58 g/t Au over 34.50 m (including 23.60
g/t Au over 0.50 m)
CM22-21
Cass
3.92 g/t Au over 14.00 m (including 84.70
g/t Au over 0.50 m)
CM22-34
Cass
3.21 g/t Au over 15.50 m (including 48.40
g/t Au over 0.50 m)
CM22-25
Cass
2.75 g/t Au over 13.50 (including 31.00
g/t Au over 0.50 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 results from the Cass Deposit drilling are some of the most
impressive high-grade, near-surface intercepts we have seen from
all the deposits that make up the Colomac Gold Project. We
intersected these high-grade intercepts mostly outside the current
Mineral Resource Estimate1 (“2022 MRE”) pit-shells,
suggesting the expansion of known mineralization and a potential
improvement of the open-pit grade profile of the Cass Deposit.”
“With the 40 km drill database completed and disclosed for 2022,
we have all the information needed to update the 2022 MRE, which we
plan to deliver in early 2023.”
Kim and Cass Deposits
The Kim and Cass Deposits are high-grade, potential open-pit
deposits that are located within 15 km southwest of the Colomac
Centre. Exploration at the Kim and Cass Deposits focused on
understanding the structural controls of the mineralization and
expanding the near-surface mineral resources of these deposits.
Please refer to Figures 3 and 4 for the District-Scale Regional Map
and Local Map of Cass Deposit drilling, respectively.
Cass Deposit
The Cass Deposit is located approximately 2 km southwest from
the Kim Deposit. The Cass Deposit area is underlain by subvertical
pillowed-to-massive mafic flows and turbiditic meta- sediments
which are intruded by gabbroic sills. The majority of the gold
mineralization at the Cass Deposit is hosted along the eastern
boundary of the Cass-area gabbro and metavolcanics units and
associated with multiple sets of steeply-dipping,
quartz-carbonate-sulphide veins.
The known mineralization of the Cass Deposit occurs over a 30 m
width and a strike length of 960 m. 2022 drilling focused on
high-grade, near-surface mineralization to expand the 2022 MRE1
Cass pit-shells. Drilling successfully extended the mineralized
zone an additional 150 m on strike to the southwest (approaching
the highly prospective Albatross exploration target). The
highest-grade intercept of the drill program (and one of the
highest-grade intercepts to-date) was drilled at Cass in hole
CM22-22 (See Figure 6 is a picture of the high-grade intercept from
hole CM22-22). Approximately 26 of the 39 holes drilled intercepted
coarse, visible gold.
Please refer to Tables 1 and 2 for the Highlight Drill Assay
Results and Drill Assay Results Summary of the Cass Deposit,
respectively. Please refer to Figures 1, 5 and 6 for the Isometric,
Section #1 and Section #2 views of the Cass Deposit Highlight Drill
Assay Results, respectively.
Table 2 – Drill Assay Results
Summary – Cass Deposit
Hole ID
From
To
Interval Core
Length (m)
Au (g/t)
Cass Deposit
CM22-01
121.50
123.00
1.50
3.26
CM22-02
150.00
165.25
15.25
0.76
including
64.75
165.25
0.50
7.29
CM22-03
No Significant Intervals
CM22-04
158.00
159.50
1.50
26.14
including
158.50
159.00
0.50
76.30
CM22-05
135.50
147.75
12.25
2.20
including
142.00
143.50
1.50
10.23
and
165.00
167.75
2.75
0.57
and
190.00
190.50
0.50
13.65
CM22-06
207.50
208.50
1.00
1.05
CM22-07
75.50
76.00
0.50
125.50
and
142.50
143.50
1.00
6.66
and
151.50
158.75
7.25
2.10
and
169.00
172.50
3.50
2.81
CM22-08
No Significant Intervals
CM22-09
52.50
54.00
1.50
1.92
and
72.00
73.50
1.50
2.26
CM22-10
145.00
179.50
34.50
1.58
including
159.00
159.50
0.50
23.60
CM22-11
No Significant Intervals
CM22-12
No Significant Intervals
CM22-13
No Significant Intervals
CM22-14
No Significant Intervals
CM22-15
195.00
197.00
2.00
8.43
CM22-16
250.50
252.00
1.50
5.00
and
293.50
295.00
1.50
2.39
CM22-17
151.50
152.00
0.50
23.00
and
179.00
197.00
18.00
0.72
and
229.00
230.50
1.50
8.34
CM22-18
No Sampling
CM22-19
No Significant Intervals
CM22-20
70.50
71.50
1.00
3.07
and
273.25
279.00
5.75
2.09
CM22-21
206.50
220.50
14.00
3.92
including
219.50
220.00
0.50
84.70
CM22-22
159.25
161.50
2.25
1.39
and
181.50
183.50
2.00
232.18
including
182.50
183.00
0.50
916.00
and
226.75
228.25
1.50
3.13
and
234.00
235.00
1.00
44.14
and
238.50
239.00
0.50
75.60
CM22-23
150.00
151.00
1.00
1.37
and
163.50
165.00
1.50
1.60
CM22-24
No Significant Intervals
CM22-25
190.00
203.50
13.50
2.75
including
190.50
191.00
0.50
31.00
and
243.00
243.50
0.50
2.04
CM22-26
114.00
117.00
3.00
2.96
CM22-27
No Significant Intervals
CM22-28
147.65
153.25
5.60
4.45
including
152.75
153.25
0.50
37.20
and
258.50
259.50
1.00
27.60
CM22-29
143.50
167.50
24.00
3.15
including
158.00
160.00
2.00
21.05
CM22-30
No Significant Intervals
CM22-31
118.25
151.75
33.50
2.67
including
148.50
150.00
1.50
38.57
and
168.50
169.00
0.50
3.81
CM22-32
179.50
191.75
12.25
2.06
CM22-33
4.50
5.00
0.50
1.99
CM22-34
77.00
79.25
2.25
2.44
and
89.50
91.00
1.50
3.93
and
104.75
120.25
15.50
3.21
including
04.75
105.25
0.50
48.40
CM22-35
124.50
125.00
0.50
1.76
and
137.00
138.00
1.00
1.38
and
152.00
158.50
6.50
0.74
and
167.75
168.75
1.00
20.05
CM22-36
132.00
137.25
5.25
0.77
CM22-37
166.00
204.75
38.75
1.23
including
202.50
203.00
0.50
41.60
CM22-38
160.50
184.25
23.75
1.87
including
168.50
170.00
1.50
13.37
CM22-39
103.00
103.50
0.50
33.20
and
120.00
121.25
1.25
2.53
and
142.00
143.00
1.00
2.69
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.
Hole ID
Easting
Northing
Elevation
Length
Azimuth
Dip
NAD 83 Zone 11
(m)
Cass Deposit
CM22-01
581642
7131455
373
159
100
-45
CM22-02
581641
7131455
374
237
100
-60
CM22-03
580502
7130934
320
186
100
-45
CM22-04
581579
7131421
372
186
100
-45
CM22-05
580796
7131075
336
225
100
-45
CM22-06
581579
7131421
372
225
100
-55
CM22-07
580796
7131075
336
243
100
-55
CM22-08
581606
7131371
370
102
100
-45
CM22-09
581606
7131371
370
174
100
-60
CM22-10
581010
7131038
333
240
100
-45
CM22-11
581133
7131372
353
156
100
-45
CM22-12
581156
7131412
354
150
100
-45
CM22-13
581010
7131038
334
179
100
-55
CM22-14
581435
7131291
360
102
100
-45
CM22-15
581336
7131309
355
276
100
-45
CM22-16
581336
7131309
355
351
100
-63
CM22-17
581011
7131037
333
297
100
-55
CM22-18
581345
7131286
357
9
100
-50
CM22-19
581345
7131286
357
249
100
-50
CM22-20
580935
7131073
342
378
100
-50
CM22-21
581345
7131286
357
324
100
-60
CM22-22
581031
7131076
336
276
100
-45
CM22-23
581354
7131269
355
222
100
-45
CM22-24
581354
7131269
355
279
100
-55
CM22-25
581031
7131076
336
327
100
-60
CM22-26
581309
7131252
356
225
100
-45
CM22-27
581345
7131222
356
240
100
-60
CM22-28
581073
7131114
346
330
100
-57
CM22-29
581308
7131212
356
222
100
-50
CM22-30
581259
7131188
358
225
100
-55
CM22-31
581089
7131088
342
214.7
100
-52
CM22-32
581395
7131330
351
225
100
-54
CM22-33
580931
7131037
338
300
98
-53
CM22-34
580822
7131052
337
168
100
-45
CM22-35
580822
7131052
337
195
100
-60
CM22-36
581662
7131476
376
174
100
-50
CM22-37
580762
7131041
338
240
100
-50
CM22-38
581053
7131093
340
249
100
-53
CM22-39
580812
7131093
334
198
100
-46
Technical Information
The pit shell outlines in Figures 1 to 6 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 Gold Corp.
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 Gold Project 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 (or open-pit)
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”, “deliver”, “demonstrating”,
“estimates”, “encouraging”, “expand” or “expanding” or “expansion”,
“expect” or “expectations”, “forecasts”, “forward”, “goal”,
“increase”, “intends”, “justification”, “plans”, “potential” or
“potentially”, “prospective”, “prioritize”, “reflects”,
“scheduled”, “suggesting”, “support”, “updating”, “upside”, “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 required regulatory approvals, 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, the war in Ukraine and its effect on supply chains,
environmental risks, COVID-19 and other pandemic 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.
1For 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/20221115005541/en/
FOR FURTHER INFORMATION:
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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