TORONTO, Jan. 20, 2020 /PRNewswire/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK; OTCQX:
MIMZD) is pleased to report assay results for eight drillholes
(4,011 metres) completed on Zones 1.5 and 2.0 of the Colomac Main
Sill, part of the Colomac Gold Project ("Colomac") centrally
located within its Indin Lake Gold Property, Northwest Territories, Canada (Table 1). All
holes intersected mineralization and define a widening to depth of
the mineralized upper portion of the east facing sill and a
corresponding expansion along strike to the south.
Previously drilled hole C19-39B
defined a substantial increase in true width of the mineralized
portion of the sill within the northern part of Zone 2.0 (see press
release dated December 3, 2019).
Current drilling south of C19-39B
appears to add a further southward strike extension of the
500-metre-long wedge-shaped panel of mineralization formed by the
amalgamation of high-grade Zone 1.5 with northern Zone 2.0. At
shallow depths the panel has a true width of 30.00 metres but
expands to upwards of 155.00 metres in true width at 800 metres
vertical depth where it remains open. The Company is planning
additional drilling in 2020 to better constrain these preliminary
observations.
Dr. Michael Byron, President
and Chief Executive Officer said, "As we continue drilling
deeper within the host sill we are seeing a well-defined
consistency in the widening of its mineralized portion to depth.
The current holes have strengthened that observation and our
understanding that this is not a localized feature but probably
represents the true morphology of the Colomac Main Sill, and given
that it is the deposit's largest host, it also represents our best
target for rapid resource advancement."
"We have tremendous support from our strategic partners and
loyal shareholders which puts us in the favourable position of
being fully-funded for the year. We look forwarding to providing
results for the remaining holes in the coming weeks and providing
an update on our 2020 exploration plans."
To date a total of 29,495 metres of the 35,018-metre program at
Colomac have been released. Results are pending for the remaining
17 drillholes from the Colomac Main Sill and the Goldcrest Sill
(parallel sill that lies 400 metres to the west of the Colomac Main
Sill), as well as the last 9 holes (2,796 metres) from the regional
drill program at the Treasure Island Gold Project and will be
released within the next few weeks.
The Company is gearing up for its 2020 drilling season and is
fully funded to achieve its ongoing goals and objectives for the
ensuing year.
Colomac Drilling Highlights:
Zone 2.0
- Four holes tested areas within the northern portion of Zone
2.0, below the former producing open pit ("Pit 2.0", see
Figure 1), and are highlighted by hole C19-40 which was drilled
below holes C12-03 and C12-03B, the
first holes drilled to depth under Pit 2.0 (see press releases
dated June 20, 2012; August 30, 2012), and intersected 85.50 metres
(40.00 metre true width) of 1.86 grams per tonne gold
("gpt", "Au"), including 9.25 metres of 2.85 gpt Au,
22.75 metres of 2.57 gpt Au, and including 13.05 metres of
3.10 gpt Au; with a deeper intersect of 24.25 metres (12.00 metre
true width) of 2.04 gpt Au, including 9.00 metres of 3.57 gpt Au,
and including 6.00 metres of 4.13 gpt Au (Figures 1, 2).
- Hole C19-51 was drilled at the southern end of Pit 2.0 and
extended shallow mineralization reported in historical holes to
depth, intersecting 61.70 metres (35.00 metre true width) of 1.46
gpt Au, including 21.45 metres of 2.03 gpt Au, and including
6.75 metres of 2.57 gpt Au (Figure 3)
- Drilling to depth at Zone 2.0 intersected extensive regions of
largely uninterrupted mineralization with hole C19-40 intersecting
194.00 metres (100.00 metre true width), and C19-41 returning
230.00 metres (90.00 metre true width) of relatively continuous
downhole mineralization.
- Pronounced widening of the mineralized portion of the sill to
depth as seen at Zone 1.5 and the northern section of Zone 2.0
appears to have been extended southward by the current drilling.
This indicates that a similar wedge-shaped morphology exists well
into the core of Zone 2.0 where mineralization has been traced from
near-surface to over 440 metres vertical depth by hole C19-41 and
remains open.
Zone 1.5
- Four holes infilled gaps in drill coverage within Zone 1.5,
highlighted by hole C19-42B which
intersected 47.00 metres (20.00 metre true width) of 1.46 gpt Au,
including 8.85 metres of 1.96 gpt Au, and including 6.50 metres of
2.39 gpt Au; with an up-hole intersection of 14.90 metres of 2.70
gpt Au, including 3.60 metres of 8.86 gpt Au; and confirms widening
of the mineralized portion of the sill from a near-surface true
width of 30 metres to 110 metres true width at depth (Figure
4).
- Hole C19-49 intersected 36.55 metres (20.00 metre true width)
of 1.65 gpt Au, including 21.75 metres (10.00 metre true width) of
2.22 gpt Au, and including 7.50 metres of 4.28 gpt Au.
Note: All assays are uncut (see Table 1)
Table 1. Colomac Drill Results – Summary Table (uncut)
The FULL ASSAY TABLE is available as a
media document within this release as well as on the Company's
website at
https://www.nighthawkgold.com/news
Hole
ID
|
Zone
|
Collar
Orientations
(degrees)
|
Intersection
(Metres)
|
Core
Length
|
True
Width
|
Gold
Grade
|
Azimuth
|
Dip
|
From
|
To
|
(Metres)*
|
(Metres)
|
gpt
|
C19-42
|
1.5
|
90
|
-50
|
203.20
|
210.35
|
7.15
|
5.00
|
2.80
|
including
|
206.50
|
210.35
|
3.85
|
|
4.86
|
including
|
206.50
|
207.85
|
1.35
|
|
11.60
|
C19-42B
|
1.5
|
90
|
-70
|
389.75
|
400.50
|
10.75
|
|
1.06
|
including
|
390.50
|
394.25
|
3.75
|
|
1.52
|
|
412.20
|
418.75
|
6.55
|
|
1.38
|
including
|
417.00
|
418.75
|
1.75
|
|
4.02
|
|
421.90
|
436.80
|
14.90
|
5.00
|
2.70
|
including
|
425.65
|
429.25
|
3.60
|
|
8.86
|
|
443.50
|
479.25
|
35.75
|
15.00
|
1.04
|
including
|
443.50
|
454.50
|
11.00
|
|
1.06
|
including
|
450.75
|
454.50
|
3.75
|
|
1.73
|
including
|
458.00
|
471.50
|
13.50
|
|
1.25
|
including
|
458.00
|
465.05
|
7.05
|
|
1.58
|
|
496.00
|
499.05
|
3.05
|
|
3.54
|
|
541.75
|
588.75
|
47.00
|
20.00
|
1.46
|
including
|
543.90
|
552.75
|
8.85
|
|
1.96
|
including
|
543.90
|
548.25
|
4.35
|
|
2.12
|
including
|
551.00
|
552.75
|
1.75
|
|
4.04
|
including
|
561.00
|
572.75
|
11.75
|
|
1.81
|
including
|
561.00
|
566.00
|
5.00
|
|
2.39
|
including
|
569.50
|
572.75
|
3.25
|
|
2.63
|
including
|
581.50
|
588.00
|
6.50
|
|
2.39
|
including
|
582.25
|
587.50
|
5.25
|
|
2.79
|
C19-48
|
1.5
|
85
|
-50
|
431.00
|
437.00
|
6.00
|
|
1.31
|
including
|
435.50
|
437.00
|
1.50
|
|
3.91
|
|
455.25
|
467.50
|
12.25
|
9.00
|
1.80
|
including
|
458.50
|
466.00
|
7.50
|
|
2.39
|
|
478.75
|
484.00
|
5.25
|
|
1.65
|
including
|
479.50
|
481.90
|
2.40
|
|
2.70
|
C19-49
|
1.5
|
90
|
-65
|
219.60
|
224.60
|
5.00
|
|
3.13
|
including
|
223.60
|
224.60
|
1.00
|
|
10.77
|
|
228.10
|
233.60
|
5.50
|
|
4.22
|
including
|
230.60
|
233.60
|
3.00
|
|
6.18
|
|
244.60
|
281.15
|
36.55
|
20.00
|
1.65
|
including
|
259.40
|
281.15
|
21.75
|
10.00
|
2.22
|
including
|
265.40
|
281.15
|
15.75
|
|
2.71
|
including
|
265.40
|
272.90
|
7.50
|
|
4.28
|
|
283.90
|
292.90
|
9.00
|
|
2.64
|
including
|
285.40
|
290.65
|
5.25
|
|
4.27
|
|
306.40
|
330.50
|
24.10
|
|
1.30
|
including
|
306.40
|
313.50
|
7.10
|
|
2.31
|
C19-40
|
2.0
|
270
|
-68
|
259.95
|
345.45
|
85.50
|
40.00
|
1.86
|
including
|
259.95
|
265.00
|
5.05
|
|
2.35
|
including
|
278.00
|
287.25
|
9.25
|
|
2.85
|
including
|
294.50
|
317.25
|
22.75
|
|
2.57
|
including
|
294.50
|
312.50
|
18.00
|
|
2.73
|
including
|
300.50
|
312.50
|
12.00
|
|
2.94
|
including
|
327.40
|
340.45
|
13.05
|
|
3.10
|
including
|
333.75
|
340.45
|
6.70
|
|
4.44
|
|
354.65
|
386.90
|
32.25
|
15.00
|
1.52
|
including
|
354.65
|
364.40
|
9.75
|
|
1.82
|
including
|
359.15
|
364.40
|
5.25
|
|
2.35
|
including
|
372.65
|
378.00
|
5.35
|
|
1.89
|
|
409.30
|
433.55
|
24.25
|
12.00
|
2.04
|
including
|
424.55
|
433.55
|
9.00
|
|
3.57
|
including
|
426.55
|
433.05
|
6.50
|
|
4.19
|
including
|
426.55
|
428.05
|
1.50
|
|
8.39
|
including
|
431.55
|
433.05
|
1.50
|
|
5.97
|
C19-41
|
2.0
|
270
|
-73
|
253.00
|
258.25
|
5.25
|
|
1.39
|
|
260.50
|
277.50
|
17.00
|
|
0.38
|
|
295.25
|
318.00
|
22.75
|
10.00
|
0.77
|
including
|
296.00
|
315.25
|
19.25
|
|
0.80
|
including
|
296.00
|
304.00
|
8.00
|
|
0.92
|
including
|
311.50
|
315.25
|
3.75
|
|
1.49
|
|
323.25
|
351.50
|
28.25
|
15.00
|
0.79
|
including
|
323.25
|
336.50
|
13.25
|
|
1.17
|
including
|
325.50
|
335.50
|
10.00
|
|
1.28
|
including
|
332.25
|
335.50
|
3.25
|
|
2.03
|
including
|
333.75
|
335.50
|
1.75
|
|
3.25
|
|
376.00
|
379.50
|
3.50
|
|
2.54
|
including
|
376.00
|
378.00
|
2.00
|
|
3.95
|
|
397.50
|
405.00
|
7.50
|
|
0.97
|
including
|
401.25
|
405.00
|
3.75
|
|
1.36
|
|
408.50
|
419.75
|
11.25
|
|
1.25
|
including
|
414.50
|
419.75
|
5.25
|
|
1.96
|
including
|
414.50
|
416.75
|
2.25
|
|
3.12
|
C19-51
|
2.0
|
286
|
-60
|
283.05
|
344.75
|
61.70
|
35.00
|
1.46
|
including
|
283.05
|
304.50
|
21.45
|
|
2.03
|
including
|
283.05
|
285.50
|
2.45
|
|
5.00
|
including
|
297.75
|
304.50
|
6.75
|
|
2.57
|
including
|
302.25
|
304.50
|
2.25
|
|
4.89
|
including
|
303.00
|
304.50
|
1.50
|
|
6.80
|
including
|
309.00
|
315.75
|
6.75
|
|
1.52
|
including
|
328.50
|
343.50
|
15.00
|
8.00
|
1.49
|
including
|
328.50
|
332.00
|
3.50
|
|
2.11
|
including
|
340.00
|
343.50
|
3.50
|
|
2.62
|
C19-53
|
2.0
|
284
|
-60
|
383.50
|
391.00
|
7.50
|
|
0.82
|
|
398.00
|
435.25
|
37.25
|
25.00
|
0.92
|
including
|
398.00
|
403.25
|
5.25
|
|
1.38
|
including
|
424.25
|
435.25
|
11.00
|
|
1.25
|
including
|
424.25
|
429.75
|
5.50
|
|
1.30
|
|
457.00
|
463.00
|
6.00
|
|
1.46
|
including
|
457.00
|
459.25
|
2.25
|
|
2.65
|
* Lengths are reported as core lengths.
True widths vary depending on drill hole dip.
Drill Summary
Zone 2.0
Hole C19-40 was drilled beneath Pit 2.0 (Figure 1) 100 metres
northwest of C12-03 and C12-03B, the
first holes Nighthawk drilled in this part of the deposit (see
press releases dated June 20, 2012
and August 30, 2012), to expand on
intersections reported in the C12-03 series holes. C19-40
intersected 85.50 metres (40.00 metre true width) of 1.86 gpt Au,
including 9.25 metres of 2.85 gpt Au, 22.75 metres of 2.57 gpt Au,
and including 13.05 metres of 3.10 gpt Au; with a deeper intersect
of 24.25 metres of 2.04 gpt Au, including 9.00 metres of 3.57 gpt
Au, and including 6.50 metres of 4.19 gpt Au, extending
mineralization to 400 metres from surface where the sill remains
untested to depth (Figure 2).
Hole C19-41 was collared 105 metres north of C19-40 within an
area of the sill open to depth below shallow historical holes
(Figure 1) and recorded a 230-metre downhole intercept of
relatively continuous mineralization to a vertical depth of 440
metres where the mineralized section of the sill spans a 90-metre
true width. The larger interval hosts several smaller intercepts
including 22.75 metres of 0.77 gpt Au; 28.25 metres of 0.79 gpt,
including 10.00 metres of 1.28 gpt Au; and 11.25 metres of 1.25 gpt
Au, including 5.25 metres of 1.96 gpt Au (Table 1).
Two holes drilled beneath the southern part of Pit 2.0 extended
broad mineralization below historical drilling (Figure 1) in an
area that has never been tested to depth. Hole C19-53 was collared
175 metres south of C19-40 and intersected 37.25 metres (25.00
metre true width) of 0.92 gpt Au, including 11.00 metres of 1.25
gpt Au, extending mineralization to 375 metres vertical depth and
open. Hole C19-51 explored below the southern end of Pit 2.0, 130
metres southwest of C19-53, and intersected 61.70 metres (35.00
metre true width) of 1.46 gpt Au, including 21.45 metres of 2.03
gpt Au, and including 6.75 metres of 2.57 gpt Au, tracing
mineralization from surface to 300 metres vertical depth where it
remains open (Figure 3).
The southern region of Zone 2.0 remains largely unexplored below
300 metres from surface, however drilling to-date has shown that
the sill is widening to depth hosting large intercepts of
relatively continuous mineralization. Additional drilling is
planned for this region in 2020 to continue advancing its
exceptional exploration opportunities.
Zone 1.5
Four holes were drilled within Zone 1.5 to infill mid-level gaps
in drill coverage. Holes C19-42 and C19-42B were collared just north of the boundary
fault that separates Zone 1.5 from Zone 2.0 (Figure 1). C19-42, the
shallower of the two holes, intersected mineralization 120 metres
below surface returning 7.15 metres of 2.80 gpt Au, including 1.35
metres of 11.60 gpt Au, defining a narrow true width to the
near-surface mineralized quartz diorite portion of the sill of 30
metres. Hole C19-42B was drilled 200
metres below C19-42 to infill a gap in coverage between previous
holes C19-35 (see press release dated October 31, 2019) and C18-01C (see press release
dated September 18, 2018) and
intersected 47.00 metres (20.00 metre true width) of 1.46 gpt Au,
including 8.85 metres of 1.96 gpt Au, and including 6.50 metres of
2.39 gpt Au; with an up-hole intersect of 14.90 metres (5.00 metre
true width) of 2.70 gpt Au, including 3.60 metres of 8.86 gpt Au
(Figure 4). Figure 4 shows the hole's 270-metre downhole intercept
of relatively continuous mineralization to a vertical depth of 560
metres, defining a 110-metre true width to the mineralized portion
of the sill. This drill section clearly illustrates the pronounced
widening of the sill from 30.00 metres true width in the near
surface to 110.00 metres at depth.
C19-49 is located 60 metres north of the C19-42 series holes
(Figure 1) and 30 metres northeast of previously drilled hole
C19-08, the Company's best hole to-date which reported 56.00 metres
grading 13.49 gpt Au, including 30.50 metres of 22.12 gpt Au, and
including 16.50 metres of 34.18 gpt Au (see press release dated
May 28, 2019). C19-49 was laid out
just north of C19-08 and below C17-14 (see press release dated
September 18, 2017) to explore for
structural features that might help explain C19-08's exceptional
gold intercept. The hole intersected 36.55 metres (20.00 metre true
width) of 1.65 gpt Au, including 21.75 metres (10.00 metre true
width) of 2.22 gpt Au, and including 7.50 metres of 4.28 gpt Au;
with lower downhole intercepts of 9.00 metres grading 2.64 gpt gold
and 7.10 metres of 2.31 gpt Au. Although C19-49 traced relatively
continuous downhole mineralization for almost 130 metres, it did
not encounter high-grade material similar to that intersected by
C19-08. Additional work is needed in this area to better understand
the factors responsible for the noteworthy high-grade intercept
recorded in C19-08. It may be the result of localized enhanced
disruption of the host rock creating unique conditions that led to
a stronger mineralization event. Identifying the contributing
factors is crucial as they represent the key elements for the
development of additional high-grade mineralization within the
sill.
C19-48 was laid out 220 metres northwest of C19-49 within the
northern portion of Zone 1.5 (Figure 1) to explore untested areas
below hole C17-28, a 780.61-metre hole drilled down the projected
northern plunge of Zone 1.5 (see press release dated November 28, 2017). Hole C17-28 intersected
several extensive regions of continuous mineralization highlighted
by 152.00 metres of 2.47 gpt Au, including 34.70 metres of 4.27 gpt
Au, and 9.65 metres of 6.90 gpt Au; 185.05 metres of 1.13 gpt Au,
including 38.30 metres of 1.69 gpt Au, and 7.70 metres of 4.82 gpt
Au; and 33.25 metres of 1.15 gpt Au, including 3.75 metres of 6.94
gpt Au, tracking mineralization down-plunge to a vertical depth of
660 metres. Hole C19-48 appears to have shallowed and may have run
above the plunge of the zone on this section. The down-plunge
northward trajectory of the zone to depth remains largely
unexplored and represents an area the Company plans to drill in
2020.
Technical Information
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. Pulp and metallics assaying for gold was
conducted on the entire pulverized sample.
As part of its QA/QC program, Nighthawk inserts external gold
standards (low to high-grade) and blanks every 20 samples in
addition to the standards, blanks, and pulp duplicates inserted by
ALS Global.
About Nighthawk
Nighthawk is a Canadian-based gold
exploration company with 100% ownership of a district-scale land
position within the Indin Lake Greenstone Belt, located
approximately 200 km north of Yellowknife, Northwest Territories, Canada. Nighthawk is
focused on advancing the Colomac Gold Project with a current
inferred resource of 2.6 million ounces of gold (50.3 million
tonnes at an average grade of 1.62 grams per tonne gold), as well
as advancing its other regional gold deposits and showings within
this largely underexplored Archean gold camp.
The Company has an experienced and dedicated team and is well
funded to complete its goals and objectives over the next 12
months.
Qualified Person
Dr. Michael J. Byron, Ph.D.,
P.Geo., President & Chief Executive Officer of 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. Please refer to NI 43-101 technical report
"Technical Report and mineral resource estimate update on the
Colomac Property of the Indin Lake Project", dated July 26,
2018, as filed under the company's profile
on www.sedar.com.
Neither the Toronto Stock Exchange has neither reviewed nor
accepts responsibility for the adequacy or accuracy of this news
release.
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 continued exploration
programs (including size and budget) and the ability to advance
targets and the timing and results thereof; and the ability to
expand the current resource at Colomac with additional drilling.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" 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 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, environmental 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, 2018,
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.
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SOURCE Nighthawk Gold Corp.