Nighthawk drills record high-grade gold intersection at Colomac: 56.00 metres of 13.49 gpt Au (uncut), including 16.50 metres of 34.18 gpt Au (uncut)
TORONTO, May 28, 2019 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) is pleased to report the first assay results from its 2019 exploration program on the Colomac Gold Project ("Colomac"), the flagship asset centrally located within Nighthawk's 100% owned Indin Lake Gold Property, Northwest Territories, Canada. Sixteen drillholes (5,329 metres) were recently completed to test specific high-grade targets within the central 3.0-kilometre portion of the 9.0-kilometre host Colomac Main sill (see Table 1; Figures 1, 2, 3 and 4), approximately 40% of the intrusion remains unexplored along strike and to depth. Drilling spanned Zones 1.5, 2.0, 2.5, and 3.0 with all holes intercepting mineralization, highlighted by hole C19-08 which returned the Company's best intercept to-date of 56.00 metres grading 13.49 grams per tonne ("gpt") gold ("Au"), including 30.50 metres of 22.12 gpt Au, and including 16.50 metres of 34.18 gpt Au at Zone 1.5. Wide zones of strong mineralization were also reported from Zones 2.0 and 3.0.
Dr. Michael Byron, President and Chief Executive Officer said, "Zone 1.5 continues to deliver outstanding results as emphasised by its capacity to host exceptional gold grades over incredible widths, and the record intercept disclosed today clearly illustrates that point. Since our initial high-grade discovery in 2014, we have remained committed to the pursuit of similar opportunities within the two host sills Colomac Main and Goldcrest. This exploration approach has been at the forefront of our activities and has resulted in several recent drill intercepts that are among some of the best in the industry.
"Backstopped by our recently announced $11 million bought-deal financing, we are now ensured the resources to implement our most active and expansive drill program to-date. Our drill program was increased from 25,000 metres and is now expected to exceed 35,000 metres in 2019, surpassing all previous year totals in terms of drilled metres. We are incredibly excited and encouraged by our record of discoveries; and are convinced that given the scope and aggressive nature of our planned programs, much more is left to be uncovered within this highly prospective gold camp."
Highlights of Drilling:
Hole C19-08 intersected 56.00 metres of 13.49 gpt Au (35.00 metres true width), including30.50 metres of 22.12 gpt Au, and including 16.50 metres of 34.18 gpt Au, and including 10.00 metres of 53.57 gpt Au – best gold intersection to-date
Hole C19-02 intersected 111.00 metres of 2.00 gpt Au (53.00 metres true width), including 23.75 metres of 3.74 gpt Au gold, and including 9.75 metres of 4.93 gpt Au
Hole C19-02B intersected 89.50 metres of 1.10 gpt Au (30.00 metres true width), including 32.25 metres of 2.03 gpt Au; and 5.25 metres of 4.38 gpt Au
The ongoing frequency and significant widths of high-grade gold intersected continue to enhance project fundamentals
Hole C19-04 intersected 38.95 metres of 1.65 gpt Au (27.00 metres true width), including 5.25 metres of 7.15 gpt Au
Hole C19-07 intersected 35.45 metres of 2.14 gpt Au (23.00 metres true width), including 10.95 metres of 3.90 gpt Au; and 2.75 metres of 8.17 gpt Au
Hole C19-07B intersected 35.10 metres (18.00 metres true width) of 1.32 gpt Au, including 13.25 metres of 2.33 gpt Au; and 5.55 metres of 4.43 gpt Au
New higher-grade domain at Zone 3.0 traced for 125 metres along strike to a depth of 250 metres and remains open
Note: All assays are uncut (see Table 1)
The Company commenced its exploration activities with three drills at Colomac in early March and is expected to continue drilling activities until late September (see press release dated April 3, 2019). Subsequent to the recent announcement of a bought-deal financing (see press release dated May 15, 2019), Nighthawk has increased its originally planned 25,000-metre drill program to greater than 35,000 metres in 2019. Efforts will continue to focus on the expansion of known high-grade gold zones, advance the search for similar prospects within the Colomac area sills, and broaden regional drilling activities at some of Nighthawk's many high-priority prospects throughout the Indin Lake Gold Property.