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Nighthawk Gold Reports 271.40 g/t Au over 1.0 metre, 1.51 g/t Au over 70.75 metres, and 7.57 g/t Au over 9.50 metres at the Colomac Main Deposit

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Nighthawk Gold Reports 271.40 g/t Au over 1.0 metre, 1.51 g/t Au over 70.75 metres, and 7.57 g/t Au over 9.50 metres at the Colomac Main Deposit

 

 

 

 

 

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:

  • Zone 1.0: Higher-grade, near-surface mineralization (highlighted by hole C22-17) was encountered outside of the 2022 Mineral Resource Estimate1 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 Estimateof 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)

 

 

 

Posted September 7, 2022

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