News

Nighthawk Reports Remaining 2020 Results for Colomac and Treasure Island

Colomac Highlight: Hole C20-07 returned 3.00 g/t Au over 32.7 m

Treasure Island Highlight: T20-09 returned 207.18 g/t Au over 5.5 m (uncut), including 2,260 g/t Au over 0.5 m

TORONTO, ON / ACCESSWIRE / April 5, 2021 / Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX:NHK)(OTCQX:MIMZF) is pleased to report the remaining results from its 2020 exploration program on the Colomac Deposit ("Colomac") and the Treasure Island Zone ("Treasure Island"), within its 100% owned Indin Lake Gold Property (930km2 land package), located in the Northwest Territories of Canada.

Assay results from the remaining drill holes completed at Colomac (10 holes for 6,433 metres, see Table 1, Figure 1), and Treasure Island (3 holes for 1,186 metres, see Table 2, Figure 7), have been received and returned significant results at both locations.

Richard Roy, VP Exploration commented: "We are pleased to report on the remaining 2020 drill results at Colomac and Treasure Island. Treasure Island encountered high-grade results, where hole T20-09 returned 207.18 g/t Au over 5.5 metres, including a single assay of 2,260 g/t Au over 0.5 metres. Consistent higher grade at Treasure Island remains to be demonstrated by drilling. With these recent Treasure Island results now in hand, all results to date will be compiled, analysed, and modeled in order to establish its potential to add higher-grade mineralization to the global resource base.

"The Colomac results illustrate the potential for resource growth at depth, however drilling in 2021 will focus on further delineation of near-surface mineralization in an effort to increase the in-pit resources. The potential at depth on Colomac remains very significant, but quality near surface targets remain untested at Colomac and will be prioritized in 2021."

Colomac:

  • Hole C20-07C (Figure 2) was completed at Zone 3.5 and returned 3.00 grams per tonne gold ("g/t", "Au") over 32.7 metres ("m"), supporting the continuity of the higher-grade mineralization previously obtained at depth.
  • Holes C20-14 and C20-17(17B) tested Zone 2.5 at depth. Although no extensively wide intervals were obtained, hole C20-17 (Figure 3), did return a high-grade interval of 12.36 g/t Au over 4.3 m (26.08 g/t Au uncut) including a 0.5 m sample assaying 218.00 g/t Au.
  • Holes C20-15(15B), C20-16, C20-18(18B), and C20-20 were drilled on Zone 1.5 testing the depth extension of the mineralization. Significant intervals were obtained, particularly in holes C20-18B (Figure 4), which returned 1.67 g/t Au Au over 61 m (1.72 g/t Au uncut), and C20-20 returned 2.44 g/t Au over 30.25 m (Figure 5). These results demonstrate that Zone 1.5 remains wide and well mineralized at depth, adding to the resource potential within this zone.
  • Holes C20-19 (Figure 6), tested Zone 2.0 and returned a wide intersection of 1.03 g/t Au over 64.1 m, including 2.88 g/t Au over 7.5 m at. Drilling at Zone 2.0 continues to encounter both extensive widths and higher-grade intervals within the mineralization.

Treasure Island:

  • The remaining three holes completed at Treasure Island (Main Zone), returned significant higher grade gold mineralization at depth, including:
    • Hole T20-07 (Figure 8) returned 5.62 g/t Au over 3.3 m;
    • Hole T20-09 (Figure 9) returned 4.65 g/t Au over 2.05 m, and 207.18 g/t Au over 5.5 m (uncut), including a single assay result of 2,260.00 g/t Au over 0.5 m; and
    • Hole T20-10 (Figure 10) returned 37.59 g/t Au over 2.35 m (uncut) including a single sample of 0.5 m which assayed 80.75 g/t Au.

Note: Assay results for Colomac are cut at 50 g/t Au as per parameters identified within the 2021 Mineral Resource Estimate. No cutting is applied to Treasure Island holes. Lengths are reported as core lengths. True widths vary depending on drill hole dip. (see Table 1 and 2)

Table 1 - Colomac Drill Results - Summary Table

 

Zone Hole ID Interval (m) Core Length Gold Grade

 

(cut @ 50)

Gold Grade (uncut)
From To (m) (g/t) (g/t)
3.5 C20-07B 49.70 50.40 0.70 1.38 -
C20-07C 168.00 169.00 1.00 1.04 -
C20-07C 174.00 175.00 1.00 1.42 -
C20-07C 188.00 189.00 1.00 1.14 -
C20-07C 210.00 210.50 0.50 1.92 -
C20-07C 212.90 213.90 1.00 3.33 -
C20-07C 259.20 259.90 0.70 1.18 -
C20-07C 265.50 269.30 3.80 3.21 -
C20-07C 560.50 561.00 0.50 17.60 -
C20-07C 563.60 564.30 0.70 1.10 -
C20-07C 569.10 601.80 32.70 3.00 -
C20-07C 602.50 603.00 0.50 1.40 -
C20-07C 610.80 614.90 4.10 1.45 -
C20-07C 617.00 617.70 0.70 1.04 -
C20-07C 633.20 633.90 0.70 1.11 -
C20-07C 642.10 646.70 4.60 5.26 -
C20-07C 665.20 687.00 21.80 3.01 -
C20-07C 696.30 697.00 0.70 2.09 -
C20-07C 715.90 716.60 0.70 8.28 -
C20-07C 726.40 727.10 0.70 4.77 -
C20-07C 733.05 742.70 9.65 1.93 -
2.5 C20-14 339.75 340.50 0.75 2.50 -
C20-14 411.75 419.25 7.50 1.18 -
2.5 C20-14 430.50 431.25 0.75 1.30 -
C20-14 438.75 439.50 0.75 2.59 -
C20-14 476.25 477.00 0.75 1.37 -
C20-14 488.25 502.00 13.75 1.61 -
C20-14 516.00 517.00 1.00 1.83 -
1.5 C20-15B 512.50 513.25 0.75 1.05 -
C20-15B 514.75 515.35 0.60 9.04 -
C20-15B 525.40 535.50 10.10 1.63 -
C20-15B 544.30 544.80 0.50 1.04 -
C20-15B 559.25 559.95 0.70 1.90 -
C20-15B 561.85 562.35 0.50 1.39 -
C20-15B 566.15 567.45 1.30 3.45 -
C20-15B 576.25 576.75 0.50 5.04 -
C20-15B 583.05 592.20 9.15 1.64 -
C20-16 651.60 658.60 7.00 1.72 -
C20-16 680.80 681.50 0.70 2.90 -
C20-16 688.90 689.60 0.70 1.56 -
2.5 C20-17 254.85 259.15 4.30 12.36 26.08
including 255.35 255.85 0.50 - 218.00
C20-17 280.20 280.90 0.70 2.71 -
C20-17 297.35 305.90 8.55 1.07 -
C20-17 330.90 331.60 0.70 1.62 -
C20-17B 362.90 363.40 0.50 1.63 -
C20-17B 387.40 388.10 0.70 1.42 -
C20-17B 439.90 440.60 0.70 5.28 -
1.5 C20-18B 399.95 400.70 0.75 1.79 -
C20-18B 470.00 470.50 0.50 - 75.60
C20-18B 477.10 477.60 0.50 4.59 -
C20-18B 489.70 490.20 0.50 27.80 -
C20-18B 518.00 518.70 0.70 1.16 -
C20-18B 531.55 532.05 0.50 1.01 -
C20-18B 533.25 533.75 0.50 1.32 -
C20-18B 534.45 535.00 0.55 1.31 -
C20-18B 555.50 566.60 11.10 1.65 -
C20-18B 585.30 585.80 0.50 2.67 -
C20-18B 597.30 598.00 0.70 1.10 -
C20-18B 600.80 609.20 8.40 2.65 -
C20-18B 618.30 619.30 1.00 2.13 -
C20-18B 620.30 620.80 0.50 1.27 -
C20-18B 628.70 639.80 11.10 2.05 -
C20-18B 643.80 644.30 0.50 3.65  

 

-

1.5 C20-18B 649.30 649.80 0.50 1.43 -
C20-18B 650.30 651.00 0.70 2.06 -
C20-18B 653.60 654.60 1.00 1.43 -
C20-18B 655.10 655.80 0.70 1.90 -
C20-18B 659.10 720.30 61.20 1.67 1.72
C20-18B 728.10 728.60 0.50 1.51 -
C20-18B 729.80 731.20 1.40 1.87 -
C20-18B 732.60 733.30 0.70 1.21 -
C20-18B 745.20 745.90 0.70 2.39 -
C20-19 414.00 478.10 64.10 1.03 -
including 446.20 453.70 7.5 2.88 -
C20-19 490.60 491.10 0.50 3.51 -
C20-19 495.50 496.20 0.70 4.23 -
C20-19 498.80 499.30 0.50 1.42 -
C20-19 500.30 501.00 0.70 1.27 -
C20-20 448.85 479.10 30.25 2.44 -
C20-20 483.80 484.50 0.70 1.60 -
C20-20 492.60 517.50 24.90 1.49 -
C20-20 524.50 525.20 0.70 2.50 -
C20-20 531.50 532.20 0.70 1.31 -
C20-20 540.30 621.50 81.20 1.48 1.54
C20-20 639.70 678.10 38.40 1.46 -
C20-20 689.10 689.60 0.50 1.95 -
C20-20 690.30 691.00 0.70 2.18 -
C20-20 693.60 694.10 0.50 5.47 -
C20-20 696.30 696.80 0.50 1.57 -
C20-20 698.70 700.80 2.10 1.33 -
C20-20 711.10 711.60 0.50 1.89 -
C20-20 712.10 712.60 0.50 1.00 -
C20-20 713.10 713.60 0.50 2.69 -
C20-20 715.30 716.00 0.70 1.93 -
C20-20 720.90 722.10 1.20 1.07 -
C20-20 723.50 724.90 1.40 2.75 -
C20-20 726.70 727.40 0.70 2.74 -
C20-20 742.00 742.70 0.70 2.37 -

 

Note: Assay results for Colomac are cut at 50 g/t Au as per parameters identified within the 2021 Mineral Resource Estimate. Lengths are reported as core lengths. True widths vary depending on drill hole dip.

Table 2 - Treasure Island (Main Zone) Drill Results - Summary Table

Hole ID Interval (m) Core Length Gold Grade
From To (m) (g/t)
T20-07 194.40 195.10 0.70 1.85
T20-07 212.00 225.35 13.35 1.31
T20-07 235.65 239.40 3.75 1.46
T20-07 274.20 277.50 3.30 5.62
T20-07 329.00 343.70 14.70 1.98
T20-07 352.10 362.60 10.50 1.47
T20-07 365.35 365.85 0.50 1.65
T20-07 383.90 384.45 0.55 7.73
T20-09 93.60 94.20 0.60 2.88
T20-09 109.90 110.40 0.50 1.87
T20-09 124.20 124.90 0.70 1.56
T20-09 129.80 131.85 2.05 4.65
T20-09 171.00 175.20 4.20 2.48
T20-09 185.10 185.80 0.70 5.24
T20-09 264.60 270.10 5.50 207.18
including 269.10 269.60 0.50 2,260.00
T20-10 40.00 41.00 1.00 1.22
T20-10 56.00 56.5.00 0.50 80.60
T20-10 187.30 188.00 0.70 1.53
T20-10 196.40 197.10 0.70 1.20
T20-10 202.00 202.70 0.70 1.05
T20-10 225.80 226.50 0.70 2.21
T20-10 230.00 230.70 0.70 1.50
T20-10 249.20 251.55 2.35 37.59
including 250.55 251.05 0.50 161.50
T20-10 267.20 278.90 11.70 3.01
T20-10 283.30 283.80 0.50 4.24
T20-10 284.30 284.80 0.50 1.33
T20-10 287.20 287.90 0.70 1.51
T20-10 296.45 299.95 3.50 3.26
T20-10 308.95 309.45 0.50 1.40
T20-10 314.60 319.50 4.90 1.11
T20-10 323.30 323.90 0.60 1.60
T20-10 384.90 385.60 0.70 1.14

Note: All lengths are reported as core lengths. True widths vary depending on drill hole dip.

BHID Easting Northing Elevation Direction DIP EOH (m) Target Area
C20-07B 591579 7140966 378 108 -75 78 Colomac
C20-07C 591579 7140966 378 108 -77 873 Colomac
C20-14 591847 7142134 369 107 -70 567 Colomac
C20-15B 591947 7143584 336 90 -64 651 Colomac
C20-16 591874 7143509 330 90 -64 814.55 Colomac
C20-17 592114 7142196 365 305 -60 375 Colomac
C20-17B 592114 7142196 365 305 -75 504 Colomac
C20-18 592043 7143374 349 90 -76 480 Colomac
C20-18B 592043 7143374 349 90 -73 797.75 Colomac
C20-19 592374 7142725 349 270 -69 501 Colomac
C20-20 592063 7143246 370 90 -72 792 Colomac
T20-07 589735 7153429 369 165 -80 420 Treasure Island
T20-09 589940 7153450 374 165 -68 298 Treasure Island
T20-10 589602 7153449 365 165 -70 468 Treasure Island

Figure 1 - Planview of Colomac Drilling

Figure 2 - Colomac - Zone 3.5 Cross Section - Drill Hole C20-07C

 

Figure 3 - Colomac - Zone 2.5 Cross Section - Drill Hole C20-17

Figure 4 - Colomac - Zone 1.5 Cross Section - Drill Holes C20-18, and C20-18B

Figure 5 - Colomac - Zone 1.5 Cross Section - Drill Hole C20-20

Figure 6 - Colomac - Zone 2.0 Cross Section - Drill Hole C20-19

Figure 6 - Planview of Treasure Island - Main Zone Drilling

Figure 7 - Treasure Island - Main Zone Cross Section - Drill Hole T20-07

Figure 8 - Treasure Island - Main Zone Cross Section - Drill Hole T20-09

Figure 9 - Treasure Island - Main Zone Cross Section - Drill Hole T20-10

 

Qualified Person

Richard Roy P.Geo., a member of OGQ and NAPEG, V.P. Exploration 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.

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 Chemex Assay Laboratory in Vancouver, BC ("ALS Chemex"). ALS Chemex is an ISO 9001:2000 certified 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 Chemex.

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 200km north of Yellowknife, Northwest Territories, Canada. Within this largely underexplored Archean gold camp, the Company has identified a number of high-priority targets all centered around a growing multi-million-ounce deposit. These targets lie within large regional deformation zones that are pregnant with gold mineralization and are known to host significant deposits which warrant additional exploration and follow-up. The main goals and objectives over the next 12-24 months will be to carry out aggressive exploration to support resource expansion opportunities as well as to foster new, near-surface discoveries that support the global resource base.

The Company has an experienced and dedicated team with a track record of successfully advancing projects and is well funded and supported to complete its goals and objectives.

FOR FURTHER INFORMATION PLEASE CONTACT:

NIGHTHAWK GOLD CORP.
Tel: 1-647-794-4313; Email: info@nighthawkgold.com
Website: www.nighthawkgold.com

  Keyvan Salehi

 

President & CEO

Michael Leskovec

 

CFO

Suzette N Ramcharan

 

VP, Corporate Development

 

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 and the ability to advance targets and the timing and results thereof; the ability to increase the global mineral resource base with additional drilling; the mineral resource estimate; and access to available capital to complete all work necessary to achieve the Company's stated goals and objectives. 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, 2019, 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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