Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) is pleased to report additional drill assay results from the Colomac Main Deposit within the Colomac Centre Area.
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:
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
|C22-09||No Significant Intervals|
|C22-28||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.
|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|
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.
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.
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.
Figure 1 – Colomac Main Deposit (Zone 3.5) Isometric View Looking West (Graphic: Business Wire)
Figure 2 – Colomac Main Deposit (Zone 1.5) Isometric View Looking West (Graphic: Business Wire)
Figure 3 – Colomac Main Deposit (Zone 1.0) Isometric View Looking West (Graphic: Business Wire)
Figure 4 – Colomac Centre Regional Map (Graphic: Business Wire)
Figure 5 – Colomac Main Deposit – Local Map of the Drill Hole Locations (Graphic: Business Wire)
Figure 6 – Colomac Main Deposit (3.5) – Section View #1 (Graphic: Business Wire)
Figure 7 – Colomac Main Deposit (1.5) – Section View #2 (Graphic: Business Wire)
Figure 8 – Colomac Main Deposit (1.0) – Section View #3 (Graphic: Business Wire)
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We acknowledge the [financial] support of the Government of Canada.