Colomac Gold Project
Colomac lies within the north central portion of Nighthawk’s Indin Lake Gold Property. From 2012 to 2015 Nighthawk completed 17,000 metres of drilling targeting new areas of mineralization and extending known zones along strike and to depth, culminating in a 2013 resource estimate prepared in accordance with National Instrument 43-101. To date, exploration costs per ounce of gold added to the resource are less than $8. A value much lower than the industry average, yet coupled with robust resource growth based upon limited drilling, speaks to the efficiencies and growth potential of this project. The regional land package consists of a contiguous position surrounding the Colomac gold deposit, and includes more than 90% of the Indin Lake Greenstone Belt. Access to the project area is by winter road from Yellowknife or year round by chartered aircraft making use of Colomac’s 5,000 foot airstrip.
Five separate gold deposits make up the Colomac Project (Colomac Main, Goldcrest North, Goldcrest South, Grizzly Bear, and 24/27), but only Colomac and Goldcrest have been drilled by the Company to date. All deposits remain underexplored and open in all dimensions. The Colomac Main Deposit was intermittently mined from 1990 to 1997 with reported production of 527,908 ounces of gold with an average head grade of 1.66 grams per tonne gold. The other deposits remain untouched, thus mining activities have only impacted a small portion of the sill’s 7 kilometre mineralized strike length. All mining and processing equipment and infrastructure have been removed from the property.
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