Mineral Resources

    Inferred  
ZONE

Tonnes 
(000’s)

Gold Grade
(g/t)

Ounces
(000’s)

Colomac North 1,522 1.63 604
Colomac Central 18,744 1.65 997
Colomac South 14,533 1.65 770
COLOMAC MAIN SILL 48,580 1.64 2,554
Goldcrest North 1,145 1.30 48
Goldcrest Main (formerly Goldcrest South) 2,636 1.60 136
GOLDCREST SILL 3,781 1.51 174
GRIZZLY BEAR (no change) 807 1.04 27
24 (no change) 528 1.21 20
27 (no change) 390 0.96 12
COLOMAC GOLD PROJECT TOTAL RESOURCES 50,305 1.62 2,613

 

 

NOTES:
  1. A block cut-off value of 0.70 gpt Au was applied to all Colomac and Goldcrest blocks. Grizzly Bear, 25 and 27 reporting cut off remains at 0.60 gpt Au.
  2. Tonnes and ounces have been rounded to reflect the relative accuracy of the mineral resource estimate; there-fore numbers may not total correctly.
  3. Mineral resources were calculated with commercial mining software.
  4. For 2018 updated Colomac and Goldcrest block models: Drill holes traces showing lithology and gold grade were reviewed in plan and cross section. Geological domains were created using LeapfrogTM Implicit Geological Modelling Software. Assays were composited to regular 1 metre intervals. Colomac assays were capped at 30.00 gpt Au and Goldcrest assays were capped at 15.00 gpt Au. Block model grade interpolation was undertaken using Inverse Distance Cubed (IDW3).
  5. For 2012 Grizzly Bear, 24 and 27 block models: Drill holes traces showing lithology and gold grade were reviewed in plan and cross section to generate mineralized domains. Assays with each domain were top cut to 31 gpt Au and then composited to regular 5ft intervals. Block model grade interpolation was undertaken using Multiple Indicator Kriging (MIK). Refer to Lee and Trinder (2012).
  6. The resource estimate was prepared by Leon McGarry, B.Sc., P.Geo., of CSA Global.
  7. Gold price is US$1300 per ounce.
  8. A default average specific gravity (SG) value of 2.7 has been used.
  9. Mineral resource tonnes quoted are not diluted.
  10. No measured or indicated mineral resources or mineral reserves of any category are identified.
  11. Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. This mineral resource estimate includes inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them and must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.
  12. 1 troy ounce equals 31.10348 gram

 

CAUTIONARY LANGUAGE & QUALIFIED PERSONS

 

Cautionary Note Regarding Estimates of Resources

Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “2014 CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Economic Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

An Inferred Mineral Resource as defined by the CIM Standing Committee is “that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.”

Qualified Person

Technical information related to the mineral resource estimate contained on this website has been reviewed and approved by Leon McGarry, B.Sc., a Senior Resource Geologist with CSA Global, who is an independent Qualified Person as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data. The technical report supporting the mineral resource estimate will be filed on SEDAR within 45 days.

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 on the Company website.


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Oct 22, 2018

46.25 Metres of 3.31 gpt Au, Including 21.75 Metres of 6.23 gpt Au, and 7.75 Metres of 14.20 gpt Au; and 18.50 Metres of 7.37 gpt Au, Including 8.00 Metres of 16.14 gpt Au, and 5.25 Metres of...

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