LETA ARM GOLD PROJECT

HIGHLIGHTS

  • The Leta Arm Mineralized Corridor lies within the Leta Arm Fault Zone (“LAFZ”) and parallel to the northern extension of the West Bay – Indin Lake Fault Zone

  • LAFZ represents a broad structure having a strike length greater than 10 km

  • The Corridor hosts 4 known gold deposits, including two historic gold mines (North Inca and Diversified)

  • High-grade gold mineralization lies within contact related silicified zones that are open along strike and to depth

  • Nighthawk’s 2011 drill program (10,536 m) focused on expanding mineralized zones within the North Inca and Diversified mine settings, with step out drilling successfully intersecting gold 450 m south of Diversified (#3) and 800 m north of North Inca (Lexindin)

  • Deposits are believed to be part of the same mineralized structure, exhibiting similar gold grades, mineralized widths, and general morphology

Leta Arm lies 15 km southwest of Colomac, along the Leta Arm Fault Zone (“LAFZ”), a broad feature parallel to the northern extension of the West Bay - Indin Lake Fault Zone; a major regional structure hosting the former producing Giant and Con gold mines to the south (13 million ounces of historic gold production).

Leta Arm is comprised of two historical gold mines (North Inca and Diversified) and two high-profile gold showings (#3, and Lexindin), and populates a 2.5-km section of this 10-km-long, 500-metre wide north-south trending regional deformation zone. The Diversified Mine lies 1.3 kilometres north of the North Inca Mine, with the #3 showing located between them, and the Lexindin showing an additional 1.2 km north of the Diversified shaft.  All deposits are open laterally and vertically suggesting the possibility that they may be part of a single larger system. Exploration shafts and limited underground development were completed on the North Inca and Diversified deposits in the 1940’s to explore multi-stage quartz veins characterized by high-grade gold mineralization.

In 2011 Nighthawk drilled 10,536 metres on the Leta Arm prospects (see press release dated January 17, 2018), testing a 2.4-km section of the LAFZ that resulted in the discovery of new zones and the extension of historical zones along strike and to depth. Results exceeded expectations confirming the project’s exciting near-surface discovery opportunities and potential for delivering significant mineralized widths. Drilling in 2018 will focus on extending the deposits and exploring for a potential connection along strike, while actively searching for new deposits along the LAFZ.  The Leta Arm remains a key area of interest for the Company. The abundance of its near-surface deposits and expansive mineralization, their underexplored status yet impressive mineralized widths, and proximity to Colomac, make them valuable assets as potential feed to augment possible future production at Colomac.

North Inca Mine

North Inca consists of at least 3 parallel north striking silicified zones of variable widths. Historical development was limited to vertical depths of less than 100 metres, leaving the deposit open to exploration at depth. The en-echelon nature of the quartz vein sets indicates a potential for the deposit to continue along strike. Initial Nighthawk drilling in 2011 tested the East Zone, the eastern most mineralized zone within host metasedimentary units, and near surface mineralization within metavolcanic rocks located 150 metres west (West Zone) of the East Zone. The program was successful in confirming its high-grade nature, the discovery of new zones, extending known zones laterally and to depth, and defining zone widths much broader than previously recognized.

Four holes were drilled at North Inca near the end of the 2017 campaign. Two of the holes undercut East Zone mineralization reported in 2011 drilling, in which hole NI17-01 (see press release dated January 17, 2018) drilled a gap between NI11-02 series holes and NI11-03, intersecting 13.20 metres of 2.24 gpt Au, including 8.50 metres of 3.24 gpt Au, and extending mineralization over 70 additional metres to depth where the zone remains open.  The two other holes, NI17-02 and NI17-02B, drilled a West Zone section across three subvertical vein systems and infilled a gap between the NI11-04 and NI11-05 series holes.  Both holes intersected mineralization with NI17-02 returning 9.55 metres of 4.03 gpt Au, including 3.00 metres of 8.14 gpt Au.

Diversified Mine

The Diversified deposit is similar to North Inca. The deposit's intensely silicified "Main Zone" lies within metasedimentary rocks and has been traced for 220 metres based on historical drilling and underground development. Nighthawk’s 2011 drilling confirmed the high-grade nature of the deposit's mineralization, defined zone widths that significantly exceed those previously reported, and extended the high-grade mineralization to new depths. All mineralized zones remain open laterally and to depth.

 #3 Gold Showing

The #3 gold showing lies along the LAFZ 450 metres south of the Diversified shaft and 800 metres north of the North Inca East Zone. Nighthawk believes the three metasediment-hosted gold deposits are part of the same mineralized structure as they have similar gold grades, mineralized widths, and general morphology, and when viewed in longitudinal section, share the same orientation.

Lexindin Gold Showing

Located 1.5 km north of Diversified, the Lexindin showing consists of tensional en-echelon quartz veins oblique to branches of the main shear zone. In 2011 Nighthawk prospected a 250-metre-long shear zone along the west shore of the LAFZ across from the showing. Surface grab samples assaying up to 8.81 gpt Au were taken from quartz-carbonate veins suggesting that mineralization in this area may be wider spread than previously believed (see press release dated September 12, 2011).

2011 Drilling Highlights:

Hole ID

Core Length (metres)

Gold Grade (gpt)

Deposit

News Release

NI11-01

23.00

1.82

North Inca East

June 15, 2011

including

6.00

2.21

North Inca East

June 15, 2011

NI11-02

26.00

6.86

North Inca East

June 15, 2011

including

3.45

44.34

North Inca East

June 15, 2011

DV11-02C

11.75

7.23

Diversified

June 15, 2011

including

7.40

11.38

Diversified

June 15, 2011

NI11-04

16.90

6.08

North Inca West

September 6, 2011

including

3.44

22.07

North Inca West

September 6, 2011

NI11-04B

37.00

2.29

North Inca West

September 6, 2011

including

16.50

4.20

North Inca West

September 6, 2011

including

2.00

15.72

North Inca West

September 6, 2011

and

3.20

14.03

North Inca West

September 6, 2011

NI11-04C

4.81

16.36

North Inca West

September 6, 2011

DV11-09

3.00

65.35

#3

November 21, 2011

and

5.20

12.90

#3

November 21, 2011

including

2.85

22.12

#3

November 21, 2011

NI11-06

5.50

8.84

North Inca West

November 21, 2011

including

2.44

18.20

North Inca West

November 21, 2011

NI11-07B

12.00

2.00

North Inca West

November 21, 2011

including

5.20

3.90

North Inca West

November 21, 2011

 

2017 Drilling Highlights – January 17, 2017:

 

NI17-01

13.20

2.24

North Inca East Zone

including

8.50

3.24

including

3.20

6.76

NI17-02

3.00

9.40

North Inca West Zone

including

1.50

18.50

 

9.55

4.03

including

3.00

8.14

including

1.55

8.36

 

4.70

1.59

including

1.50

4.41

 

8.50

1.40

 

including

3.50

2.30

 

 


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