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Nighthawk Gold Intersects 4 Ounces Per Tonne (125.00 g/t Au) over 0.50 Metres at the Cass Deposit

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Nighthawk Gold Intersects 4 Ounces Per Tonne (125.00 g/t Au) over 0.50 Metres at the Cass Deposit

 

 

 

 

 

Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) reports assay results from drilling at the Cass Deposit and Albatross Zone target, which are located within 15 kilometres from the Colomac Centre Area.

 

Table 1 – Highlight Drill Assay Results from the Cass Deposit Drilling

 

Hole ID Deposit Highlight Assay Result
CM23-14 Cass 4 ounces per tonne (or 125.00 grams per tonne (“g/t Au”)) over 0.50 metres (“m”)
CM23-09 Cass 2.48 g/t Au over 13.00 m
CM23-11 Cass 1.90 g/t Au over 17.50 m (including 4.20 g/t Au over 6.40 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 continue to deliver higher-grade mineralization. We tested the potential extensions of known mineralization and intersected high-grade, near-surface mineralization to the northeast, in an area on the other side of a fault structure where there was no data. The deposit remains open in all directions and warrant follow-up drilling.”

 

Cass Deposit Drilling

 

The Cass Deposit is located 15 km southwest of the Colomac Centre Area. The deposit is characterized by higher-grade, near-surface mineralization. The Company completed 5,442 m of drilling to test new mineralized zones parallel and along strike from the Cass Deposit. These zones have the potential to significantly expand the open-pit mineralization at the deposit. The target areas were chosen based on a new geological interpretation and structural model, as well as historical trenching and soil anomalies. Drill holes CM23-08, CM23-09 and CM23-11 confirmed the extension of mineralization along strike of a parallel gabbroic intrusion to the northwest of the Cass Deposit. Drill hole CM23-06 confirmed the continuity of mineralization between the Cass Deposit estimated pit-shell bottom (as part of the Colomac Gold Project PEA1) and deeper drillhole intercepts. Drill holes CM23-12 and CM23-14 intercepted narrow high-grade mineralization in a previously untested area between the main Cass Deposit pit-shell and the smaller pit-shell to the east. These mineralized intercepts confirm that mineralization and the host geology continue across structural boundaries identified in the new structural model. Coarse gold samples were intersected in 9 of the 19 drill holes.

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1
For more information on the Colomac Gold Project Preliminary Economic Assessment, please refer to the NI 43-101 technical report titled “Colomac Gold Project NI 43-101 Technical Report and Preliminary Economic Assessment, Northwest Territories, Canada” dated June 9, 2023 which is available on SEDAR+ www.sedarplus.ca the Company’s website (www.nighthawkgold.com).

 

Please refer to Figures 1, 2, 3 and 4 for the Cass Deposit (and Albatross Zone) drilling plan view local map, Cass Deposit isometric view, Cass Deposit cross section #1, and Cass Deposit cross section #2, respectively.

 

Albatross Zone

 

The Albatross Zone is a grassroots exploration target to the west of the Cass Deposit. Historical, widely spaced drilling over a 4.6 km trend confirmed the extension of the Cass Deposit mineralization at narrower widths. Nighthawk completed 1,974 m of drilling at the Albatross Zone, confirming the gabbro lithological package with veining and some coarse gold showings. Additional structural mapping and surface work is required to understand the potential of this zone.

 

Please see Tables 1 and 2 for the Cass Deposit and Albatross Zone Drill Assay Highlights and Summary Table, respectively.

 

Table 2 – Drill Assay Results Summary – Cass Deposit and Albatross Target

 

Hole ID From To Interval Core Length (m) Au (g/t)
Cass Deposit
CM23-01 132.50 133.00   0.50   2.95
and 143.50 148.00   4.50   1.46
and 172.00 173.75   1.75   1.50
and 184.75 190.50   5.75   1.51
and 235.50 238.50   3.00   1.07
CM23-02 No Significant Intervals  
CM23-03 117.50 118.50   1.00   1.30
CM23-04 154.50 155.50   1.00   16.80
and 184.75 185.80   1.05   1.17
CM23-05 168.00 169.00   1.00   1.66
CM23-06 149.50 150.50   1.00   2.24
and 274.50 290.00   15.50   1.05
including 277.50 280.40   2.90   3.34
and 359.50 360.00   0.50   18.80
CM23-07 No Significant Intervals  
CM23-08 59.00 59.75   0.75   1.74
and 239.75 244.75   5.00   3.25
CM23-09 266.50 279.50   13.00   2.48
CM23-10 19.00 20.00   1.00   1.07
  270.00 271.00   1.00   1.90
CM23-11 317.00 334.50   17.50   1.90
including 321.10 327.50   6.40   4.20
CM23-12 218.50 219.00   0.50   7.00
CM23-13 32.20 33.00   0.80   1.12
CM23-14 223.00 223.50   0.50   125.00
and 249.10 250.10   1.00   2.27
CM23-15 No Significant Intervals  
CM23-16 No Significant Intervals  
CM23-17 No Significant Intervals  
CM23-18 261.45 262.50   1.05   1.43
CM23-19 No Significant Intervals  
 
Albatross Target
A23-01 No Significant Intervals  
A23-02 33.75 34.50   0.75   1.69
and 182.00 182.50   0.50   6.34
A23-03 No Significant Intervals  
A23-04 No Significant Intervals  
A23-05 No Significant Intervals  
A23-06 No Significant Intervals  
A23-07 169.50   170.50   1.00 1.26
A23-08 No Significant Intervals  
A23-09 67.50   68.50   1.00 1.68
A23-10 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.

 

 

Hole ID Easting Northing Elevation Length Azimuth Dip
NAD 83 Zone 11 (m)
Cass Deposit
CM23-01 580982.11 7131026.56 332.88 300 280 -60
CM23-02 580828.9 7131008.66 331 177 100 -45
CM23-03 581021.64 7131058.4 334.57 300 280 -45
CM23-04 581022.14 7131058.34 334.66 300 280 -58
CM23-05 581103.68 7131057.11 340.23 225 100 -45
CM23-06 581096.46 7131140 350.43 381 100 -56
CM23-07 581011.77 7131124.03 344.83 384 100 -55
CM23-08 580975.38 7131107.85 340.41 300 100 -45
CM23-09 580975.05 7131107.9 340.45 324 100 -54
CM23-10 580935.73 7131089.86 340.87 348 100 -50
CM23-11 580935.47 7131089.95 340.78 396 100 -59
CM23-12 581389.48 7131360.23 350.07 273 100 -45
CM23-13 580907.19 7131145.79 336.44 189 100 -45
CM23-14 581389.26 7131360.27 350.04 300 100 -55
CM23-15 580906.54 7131145.96 336.43 222 100 -65
CM23-16 581501.31 7131375.05 360.33 270 100 -50
CM23-17 581271.33 7131230.07 357.85 297 100 -54
CM23-18 581439.09 7131393.7 355.52 336 100 -52
CM23-19 581853.48 7131409.45 370.14 120 100 -45
A23-01 580700.9 7130969.89 328.25 216 110 -45
A23-02 580700.24 7130970.18 328.26 240 110 -65
A23-03 580647.04 7130944.06 326.72 177 110 -45
A23-04 580646.34 7130944.28 326.69 246 110 -65
A23-05 580405.04 7130874.12 322.9 150 100 -45
A23-06 580336.34 7130829.54 342.14 150 100 -45
A23-07 580285.48 7130817.67 346.36 240 100 -45
A23-08 580294.51 7130791.97 351.32 210 100 -45
A23-09 580205.6 7130781.46 362.49 177 100 -45
A23-10 580124.5 7130744.5 359.1 168 100 -45

 

 

Technical Information

 

The pit-shell outlines in Figures 1 to 4 are from the Colomac Gold Project PEA1 and was completed by Ausenco Engineering Canada Inc. 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 is an ISO/IEC 17025 accredited laboratory. The 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 and development company with control of 947 km2 of District Scale Property located 200 km north of Yellowknife, Northwest Territories, Canada. The Company’s flagship asset is the large-scale, Colomac Gold Project. The 2023 PEAdemonstrates the Project’s potential for 290,000oz/year operation over 11.2-year conceptual mine life that could generate a C$1.2 billion NPV5% and 35% IRR (after taxes) based on a US$1,600/oz gold price assumption. Nighthawk’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing its assets towards a development decision.

 

Figure 1 – Cass Deposit and Albatross Target Drilling – Plan View Map (Graphic: Business Wire)

 

Figure 2 – Cass Deposit Drilling – Isometric View Looking Northwest (Graphic: Business Wire)

 

Figure 3 – Cass Deposit Drilling – Cross Section #1 Looking Northeast (Graphic: Business Wire)

 

Figure 4 – Cass Deposit Drilling – Cross Section #2 Looking Northeast (Graphic: Business Wire)

 

 

 

Posted August 8, 2023

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