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Nighthawk Gold Reports 6.75 g/t Au Over 12.75 m at its 24/27 Deposit Within the Colomac Centre Area
Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) is pleased to report the initial drill assay results from its 2022 Exploration Program, with encouraging results from its 24 and 27 Deposits located in the Colomac Centre Area on its property in the Northwest Territories, Canada.
| Table 1 – Highlight assay results from the 24/27 Deposit | ||
| Hole ID | Deposit | Highlight Assay Result |
| TFS22-02 | 24 | 6.75 g/t Au over 12.75 m (including 16.45 g/t Au over 2.75 m) |
| TFS22-01 | 24 | 3.62 g/t Au over 10.50 m (including 19.25 g/t Au over 0.50 m) |
| TFS22-09 | 24 | 2.42 g/t Au over 8.25 m (including 10.75 g/t Au over 0.75 m) |
| TFS22-16 | 24 | 1.91 g/t Au over 17.00 m (including 5.20 g/t Au over 2.50 m) |
| TFS22-06 | 27 | 0.67 g/t Au over 45.00 m (including 14.95 g/t Au over 0.50 m) |
| TFS22-14 | 27 | 0.99 g/t Au over 33.50 m (including 18.05 g/t Au over 0.50 m) |
| TFS22-15 | 27 | 1.57 g/t Au over 19.00 m (including 7.88 g/t Au over 2.00 m) |
| TFS22-20 | 27 | 2.48 g/t Au over 7.50 m (including 12.50 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. | ||
Keyvan Salehi, P.Eng. (Nighthawk President & CEO) commented, “We received more encouraging drill assay results from the Colomac Centre. The 24/27 Deposit drilling yielded higher-grade, near-surface mineralization outside the current Mineral Resource Estimate1 pit shells. Drill Hole TFS22-02 intersected 6.75 g/t Au over 12.75 m and was the highlight of this batch of results (see Figure 1). The potential expansion of the open-pit mineralization in the Colomac Centre appears to be supported by the data received so far.”
2022 Exploration Program
Drilling in 2022 primarily targeted areas outside the 2022 MRE1 pit shells. Nighthawk’s goal is to continue expanding the potential pit-constrained mineralization, particularly in the higher-grade areas. This latest batch of results represents 4,387 m of drilling, bringing the total reported assay results to 10,003 m of drilling for 2022. Please refer to Figure 2 for the Colomac Centre Location Map.
24/27 Deposit
Most of the 2022 exploration drilling at 24/27 Deposit was designed to target higher-grade, near surface mineralization outside of the known mineralization. Gold mineralization in these areas is hosted by grey-white smoky quartz veins, within a sheared intermediate volcaniclastic rock bounded on the east by sediments. Most of the 24/27 Deposit drill assay results returned mineralized intersections outside the current Mineral Resource Estimate1 pit shells, which suggest the potential expansion of the mineral resources in these areas. Please refer to Figure 3 for a Plan View Map of the 24/27 Deposit drilling. Mineralized widths at the 24 Deposit were confirmed to be wider than previously thought, as evidenced by drill hole TFS22-02, which intersected mineralization of 6.75 g/t Au over 12.75 m (including 16.45 g/t Au over 2.75 m) and 1.20 g/t Au over 26.75 (including 8.41 g/t Au over 1.1 m) closer to surface than previously expected. Please refer to Figures 1, 4 and 5 for the 24/27 Deposit Isometric View, 24 Deposit Section View, and 27 Deposit Section View of the highlighted drill holes, respectively. TFS22-13 and TFS22-11 are step out drill holes located approximately 250 m to the north, along strike, of the 24/27 Deposit. Both drill holes intersected narrow mineralized quartz veining within the same intermediate volcanic on as the 24 Deposit and warrant continued exploration along strike. Additional drill assays are pending for the south extension of the 24/27 Deposit.
| Table 2 – Drill Assay Results Summary Table – 24/27 Deposits | |||||||||||||
| Hole ID | Interval (m) | Core Length |
Gold Grade |
||||||||||
| From | To | (m) | (g/t) | ||||||||||
| 24 Deposit | |||||||||||||
| TFS22-01 | 30.25 | 54.50 | 24.25 | 0.81 | |||||||||
| including | 31.50 | 32.35 | 0.85 | 5.44 | |||||||||
| and | 64.50 | 75.00 | 10.50 | 3.62 | |||||||||
| including | 73.50 | 74.00 | 0.50 | 19.25 | |||||||||
| and | 99.10 | 101.00 | 1.90 | 2.06 | |||||||||
| and | 123.50 | 127.00 | 3.50 | 0.64 | |||||||||
| TFS22-02 | 43.00 | 69.75 | 26.75 | 1.20 | |||||||||
| including | 44.00 | 45.10 | 1.10 | 8.41 | |||||||||
| and | 81.25 | 94.00 | 12.75 | 6.75 | |||||||||
| including | 90.50 | 93.25 | 2.75 | 16.45 | |||||||||
| and | 132.10 | 133.55 | 1.45 | 1.70 | |||||||||
| TFS22-04 | 96.00 | 129.50 | 33.50 | 0.48 | |||||||||
| including | 116.75 | 118.25 | 1.50 | 4.11 | |||||||||
| TFS22-07 | 122.50 | 128.50 | 6.00 | 1.04 | |||||||||
| and | 212.35 | 213.35 | 1.00 | 3.26 | |||||||||
| TFS22-09 | 61.25 | 69.50 | 8.25 | 2.42 | |||||||||
| including | 68.00 | 68.75 | 0.75 | 10.75 | |||||||||
| TFS22-11 | No Significant Intervals | ||||||||||||
| TFS22-13 | 157.25 | 158.00 | 0.75 | 1.30 | |||||||||
| TFS22-16 | 131.00 | 148.00 | 17.00 | 1.91 | |||||||||
| including | 133.25 | 135.75 | 2.50 | 5.20 | |||||||||
| and | 214.75 | 216.25 | 1.50 | 2.20 | |||||||||
| TFS22-17 | 32.00 | 38.00 | 6.00 | 1.29 | |||||||||
| including | 35.75 | 36.50 | 0.75 | 4.30 | |||||||||
| and | 65.50 | 67.50 | 2.00 | 0.90 | |||||||||
| TFS22-21 | 128.25 | 132.75 | 4.50 | 1.45 | |||||||||
| and | 147.00 | 148.50 | 1.50 | 0.96 | |||||||||
| TFS22-22 | 29.00 | 30.00 | 1.00 | 2.50 | |||||||||
| TFS22-25 | 257.50 | 258.50 | 1.00 | 1.58 | |||||||||
| TFS22-26 | 362.00 | 364.25 | 2.25 | 1.19 | |||||||||
| 27 Deposit | |||||||||||||
| TFS22-05 | 28.00 | 29.00 | 1.00 | 2.52 | |||||||||
| and | 81.00 | 82.00 | 1.00 | 1.03 | |||||||||
| TFS22-06 | 80.60 | 83.50 | 2.90 | 1.94 | |||||||||
| and | 122.00 | 167.00 | 45.00 | 0.67 | |||||||||
| including | 144.00 | 144.50 | 0.50 | 14.95 | |||||||||
| TFS22-03 | 78.00 | 87.50 | 9.50 | 0.68 | |||||||||
| including | 81.00 | 81.50 | 0.50 | 5.63 | |||||||||
| TFS22-14 | 139.00 | 140.50 | 1.50 | 1.58 | |||||||||
| and | 174.50 | 208.00 | 33.50 | 0.99 | |||||||||
| including | 174.50 | 189.50 | 15.00 | 1.78 | |||||||||
| including | 178.00 | 178.50 | 0.50 | 18.05 | |||||||||
| TFS22-15 | 90.00 | 91.00 | 1.00 | 1.22 | |||||||||
| and | 215.00 | 234.00 | 19.00 | 1.57 | |||||||||
| including | 230.50 | 232.50 | 2.00 | 7.88 | |||||||||
| TFS22-20 | 54.50 | 62.00 | 7.50 | 2.48 | |||||||||
| including | 60.50 | 61.00 | 0.50 | 12.50 | |||||||||
| 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 | ||||||
| 24 | TFS22-01 | 595385 | 7145293 | 358 | 216 | 85 | -60 | ||||||
| 24 | TFS22-02 | 595309 | 7145323 | 343 | 226 | 85 | -70 | ||||||
| 24 | TFS22-04 | 595309 | 7145323 | 343 | 225 | 90 | -60 | ||||||
| 24 | TFS22-07 | 595309 | 7145323 | 343 | 246 | 90 | -70 | ||||||
| 24 | TFS22-09 | 595351 | 7145326 | 348 | 150 | 85 | -50 | ||||||
| 24 | TFS22-11 | 595160 | 7145549 | 360 | 300 | 85 | -50 | ||||||
| 24 | TFS22-13 | 595101 | 7145653 | 370 | 348 | 85 | -50 | ||||||
| 24 | TFS22-16 | 595390 | 7145222 | 358 | 249 | 70 | -70 | ||||||
| 24 | TFS22-17 | 595430 | 7145209 | 354 | 96 | 70 | -50 | ||||||
| 24 | TFS22-21 | 595398 | 7145197 | 361 | 225 | 70 | -70 | ||||||
| 24 | TFS22-22 | 595441 | 7145089 | 356 | 201 | 65 | -45 | ||||||
| 24 | TFS22-25 | 595441 | 7145089 | 356 | 282 | 65 | -58 | ||||||
| 24 | TFS22-26 | 595407 | 7145180 | 359 | 375 | 70 | -70 | ||||||
| 27 | TFS22-05 | 595477 | 7144870 | 380 | 126 | 95 | -50 | ||||||
| 27 | TFS22-06 | 595477 | 7144878 | 380 | 207 | 95 | -70 | ||||||
| 27 | TFS22-03 | 595458 | 7144918 | 375 | 153 | 95 | -50 | ||||||
| 27 | TFS22-14 | 595429 | 7144780 | 387 | 300 | 95 | -50 | ||||||
| 27 | TFS22-15 | 595429 | 7144780 | 387 | 321 | 95 | -60 | ||||||
| 27 | TFS22-20 | 595508 | 7144746 | 377 | 141 | 95 | -45 | ||||||
Technical Information
The pit shell outlines in Figures 1 to 5 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.
Figure 1 – 24/27 Deposit Isometric View – Looking Southwest (Graphic: Business Wire)
Figure 2 – Colomac Centre Location Map (Graphic: Business Wire)
Figure 3 – Plan View of 24/27 Deposit Drilling (Graphic: Business Wire)
Figure 4 – 24 Deposit Section View – Looking North (Graphic: Business Wire)
Figure 5 – 27 Deposit Section View – Looking North (Graphic: Business Wire)
Posted July 29, 2022
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