TREASURE ISLAND

HIGHLIGHTS

  • Northern most property in Nighthawk’s Indin Lake Gold Camp land package

  • Located 10 kilometres north of Colomac

  • Lies within a 6 km, largely underexplored, mineralized corridor that hosts several high-priority gold showings

  • Nighthawk’s 2011 drilling (1,393m) targeted a system of stacked gold zones associated with a 200-metre-wide envelope of silicification near the volcanic rock-sedimentary rock contact

  • Drilling results confirmed historic reports of gold along this contact region, and extended existing and new zones in all dimensions

  • Shallow mineralization intersected by all holes within mafic volcanic rocks immediately north of the Gamble Dyke, a quartz-feldspar porphyry dyke (similar to the Colomac sill) that runs parallel to the volcanic rock – sedimentary rock contact

  • This new zone was traced for over 150 metres and remains open in all dimensions

  • The initial 2011 drill program highlighted its potential as a near surface bulk mineable prospect as well as a high-grade vein type deposit

Treasure Island is located 11 km north of Colomac within a 6 km mineralized corridor that hosts several gold showings. The area between its Main Zone and East Zone (located 600 metres to the east) remains untested, as does the 4 km that separates Treasure Island from the Laurie Lake gold showing to the west, thus more than 75% of this mineralized corridor is yet to be explored.

In 2011 Nighthawk drilled five holes into the Main Zone targeting a series of stacked gold zones associated with a 200 metre wide envelope of silicification along the volcanic rock-sedimentary rock contact (Table 2).  The Company realized its primary objectives of confirming historically reported gold along this contact region, testing for new zones at depth, and extending zones in all dimensions.  Reported broad zones of mineralization with internal higher-grade intersects appear to be continuous for over 150 metres along strike (open) and down dip (open).  New high-grade gold zones were also discovered at depth within altered metasedimentary rocks, and near surface within metavolcanic rocks.

Ground geophysical surveys (Induced Polarization and Magnetometer) was completed during the 2017 winter season where targets have been identified for the 2018 campaign.

2011 Treasure Island Drill Highlights

Hole ID

Core Length (metres)

Gold Grade (g/t)

News Release

 
 

T11-03B

238.43

0.73

May 31, 2011

 

including

55.00

1.16

May 31, 2011

 

including

6.92

3.23

May 31, 2011

 

including

1.43

44.95

May 31, 2011

 

T11-01B

215.00

0.74

May 31, 2011

 

including

10.35

2.72

May 31, 2011

 

including

29.00

2.45

May 31, 2011

 

including

14.00

4.81

May 31, 2011

 

including

8.00

7.82

May 31, 2011

 

including

4.00

14.43

May 31, 2011

 

T11-01

14.00

1.58

May 31, 2011

 

 

1.25

12.59

May 31, 2011

 

 

2017 prospecting activities explored prospective regions outside of the Main Zone resulting in a new discovery, the “Seadog showing”, located along the island’s northwest shoreline (Figure 2), approximately 1 km north of the Main Zone where grab samples returned assays up to 27.80 gpt Au.  Channel samples from outcrops 160 meters to the west also returned several high-grade gold numbers.  Although a small bay separates the two locations, the showings are believed to be related given the trend of mineralized quartz veins, and the similarities in style of alteration and mineralization. Channel sampling at both locations has confirmed their high-grade nature with the best results of 19.85 gpt Au over 1.0 metre coming from the western outcrop area. A channel sample from the showing’s eastern extension returned a weighted average of 7.48 gpt Au over 1.5 metres, including 10.85 gpt Au over 0.5 metres. The true width of the zone remains unknown at this time. Select assay results from grab and channel sampling are presented in Table 1.

 

Surface grab samples taken by Nighthawk in 2011 at the historical Booty showing along the northern shore of the island (750 metres east of the Seadog showing), returned up to 13.35 gpt Au (Figure 2). These locations were resampled in the 2017 regional exploration program. Select assay results from that sampling are presented in Table 2. Ground geophysical surveys (Induced Polarization and Magnetometer) will be completed this winter over most of the island in preparation for exploration drilling later in the 2018 campaign.

 

Table 1 – 2017 Seadog showing select grab and channel sample results

Sample

Easting

Northing

Type

Length (m)

Au (gpt)

Ag (gpt)

H558924

589356

7154329

Channel

1.0

19.85

4.80

H558903

589513

7154293

Channel

0.5

10.85

1.80

H558901

589513

7154291

Channel

0.5

6.86

1.50

H558902

589513

7154292

Channel

0.5

4.74

0.90

H558923

589359

7154328

Channel

1.0

2.05

1.60

H558920

589371

7154326

Channel

1.0

0.93

0.80

R458030

589514

7154289

Grab

-

27.80

4.10

R458031

589512

7154280

Grab

-

5.73

2.00

R458028

589560

7154156

Grab

-

1.35

-

 

 

Table 2 – 2017 Treasure Island showing select grab samples

Sample

Easting

Northing

Zone

Au (gpt)

Ag (gpt)

R458265

589779

7153303

Main Zone

19.35

2.40

R458269

589700

7153330

Main Zone

7.76

2.20

R450252

589676

7153295

Main Zone

3.32

0.50

R458267

589778

7153309

Main Zone

1.82

0.50

R450213

590163

7154214

Booty

5.60

1.70

R450259

590224

7154187

Booty

3.20

2.10

R450258

590225

7154179

Booty

2.06

1.10

R450210

590241

7154195

Booty

1.40

0.90

R450260

590230

7154182

Booty

1.64

1.50

R450265

590206

7153717

-

4.60

0.50

 


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