2014

2014

Nighthawk Drills 40.00 Metres of 2.52 g/t Gold, Including 5.20 Metres of 7.82 g/t Gold; Expands Goldcrest Zone 125 Metres

Toronto, Ontario, November 26, 2014 – Nighthawk Gold Corp. (“Nighthawk”) (TSX Venture: NHK) is pleased to announce assay results from fifteen recently completed drill holes (Figures 1, 4 | Tables 1, 2) on its Indin Lake Gold Property in the Northwest Territories (“NWT”). Nine holes were drilled at Goldcrest as part of Nighthawk’s ongoing resource expansion program designed to extend known mineralized zones and to grow the previously reported inferred resource estimate (June 17, 2013 news release). The remaining six holes undercut historical surface gold showings at Echo-Indin, one of several priority prospects within a short distance of Colomac.

A total of 13,647 metres were drilled in the 2014 program of which 3,549 metres are reported herein (including this release 11,617 total metres have been reported). Drilling at Goldcrest continued to intersect significant mineralization over large core lengths resulting in the extension of known gold zones; hole G14-09 intersected 40.00 metres of 2.52 grams per tonne (“g/t”) gold, including 5.20 metres of 7.82 g/t gold and 12.50 metres of 3.64 g/t gold, and hole G14-08B intersected 10.50 metres of 2.42 g/t gold, including 7.75 metres of 3.09 g/t gold.

 

HIGHLIGHTS:

Goldcrest:

Echo-Indin:

 

Table 1. Goldcrest

Hole ID From (m) To (m) Core Length (m)* Au gpt
G14-08B 158.07 165.25 7.18 0.91
  158.07 163.00 4.93 1.18
including 160.15 163.00 2.85 1.70
  174.25 177.00 2.75 2.44
  186.75 197.25 10.50 2.42
including 186.75 194.50 7.75 3.09
including 186.75 190.00 3.25 4.35
including 188.00 190.00 2.00 6.09
  222.00 226.85 4.85 1.63
including 222.00 224.60 2.60 2.06
G14-09 158.00 198.00 40.00 2.52
including 158.00 158.50 0.50 16.05
including 168.00 173.20 5.20 7.82
including 172.65 173.20 0.55 57.30
including 184.50 197.00 12.50 3.64
including 184.50 190.25 5.75 6.67
including 189.75 190.25 0.50 56.40
G14-09B 200.50 204.00 3.50 0.49
  212.75 217.00 4.25 0.61
  241.75 247.25 5.50 0.53
G14-10 115.75 126.50 10.75 1.23
including 118.75 126.00 7.25 1.66
including 118.75 122.50 3.75 2.12
G14-10B No significant values
G14-11 150.35 151.00 0.65 10.00
  160.55 165.00 4.45 2.53
including 160.55 162.85 2.30 4.32
  169.50 181.50 12.00 1.12
including 169.50 178.50 9.00 1.27
including 169.50 174.50 5.00 1.68
including 171.00 171.50 0.50 12.30
G14-11B 219.00 219.90 0.90 3.87
  225.35 227.50 2.15 0.46
  230.50 232.00 1.50 0.81
  244.25 248.00 3.75 0.67
including 245.75 248.00 2.25 0.74
  261.22 286.40 25.18 0.53
including 261.22 271.75 10.53 0.77
including 267.25 271.75 4.50 1.05
including 275.50 277.70 2.20 0.66
including 283.00 286.40 3.40 0.82
G14-12 315.90 317.05 1.15 1.01
  332.75 334.25 1.50 0.32
G14-13 248.25 248.75 0.50 10.15
  277.50 278.25 0.75 0.47

* Lengths are reported as core lengths. True widths are unknown at this time.

 

Table 2. Echo-Indin

Hole ID From (m) To (m) Core Length (m)* Au gpt
E14-01 33.00 42.00 9.00 1.06
including 33.00 34.50 1.50 5.42
E14-01B No significant values
E14-02 No significant values
E14-02B 28.00 31.50 3.50 9.00
including 29.00 31.50 2.50 12.51
including 29.00 30.60 1.60 18.16
  39.00 42.00 3.00 0.30
E14-03 13.00 20.00 7.00 2.77
including 16.00 19.00 3.00 3.92
  28.00 29.00 1.00 3.14
E14-03B 27.00 28.00 1.00 1.06
  35.00 36.00 1.00 1.91

* Lengths are reported as core lengths. True widths are unknown at this time.

 

Goldcrest

Goldcrest lies 400 metres west of the Colomac main intrusion (Figure 1), and like Colomac, is a mineralized differentiated mafic sill with tops facing east. Both deposits have better gold grades located within the more sodic and silica-rich upper portions of the sills, an area that remains a primary exploration target for Nighthawk.

Holes G14-08B (Figure 2), G14-09 & 9B, and G14-10 & 10B were drilled from 3 setups spaced at 50 metre intervals to test areas of the sill north of Hole G14-08, the northernmost hole reported in the October 27, 2014 news release. The core lengths and gold grades intersected by Hole G14-08 are believed to indicate the existence of another high-grade shoot. Holes G14-08B, G14-09 & 9B, and G14-10 & 10B were drilled to test this hypothesis, probing areas underneath the G14-08 intersection and along strike to the north. All holes intersected gold effectively confirming the model and extending mineralization an additional 125 metres north; over 2 kilometres of the mineralized sill remain to be drilled.

Holes G14-11 & 11B (Figure 3), G14-12, and G14-13 were collared to the west and behind previously drilled holes G14-04 & 4B, G14-05 & 5B, and G14-06 & 6B (September 25, 2014, and October 27, 2014 news releases) to test the basal portion of the sill and the eastern top of the sill below these previously reported intersections. It appears the less mineralized steeper holes intersected the sill just below the northward plunging higher grade zones; these results will be investigated further once Nighthawk’s 3D resource models have been updated.

Given the limited historical drilling at Goldcrest in comparison with the Colomac Main area, Nighthawk believes substantial opportunities for new discoveries exist. The success in locating new higher grade zones within the Goldcrest sill, and extending them to depth and along strike, offers strong support for its resource expansion potential.

 

Echo-Indin

Located 8 kilometres west of Colomac (Figure 4), Echo-Indin is considered a priority target for near surface, high-grade gold mineralization, with the potential to host shallow deposits to augment Colomac.

Exploration in the 1940’s reports on anomalous gold mineralization generated from overburden trenching, surface sampling, and limited diamond drilling. Historical drilling targeted quartz stock-works in gold mineralized shear zones that extend for several hundred metres within metavolcanic rocks. Gold occurrences are now thought to be related to the continuation of the Cass-Kim Deposit mineralized corridor that was offset by the Lex Fault. The resulting linear gold occurrences are referred to as the Echo-Indin showing (just north of the Lex Fault), the Goose Lake Showing (approximately 1 kilometre further north), and the Lucky Lake Showing yet further north.

Recent field activities focused on locating historical drill setups, surface trenches, and confirming (and extending) the reported gold mineralized shear zones. Nighthawk’s results were very encouraging and included three surface samples of greater than 30.0 g/t gold, thirteen greater than 4.0 g/t gold, and twenty-two greater than 1.0 g/t gold.

Nighthawk’s 2014 drilling at Echo-Indin followed-up on field work results and successfully intersected near surface mineralization. Six holes undercut three historical surface gold showings (Figure 4), of which four holes intersected gold mineralized quartz veins within metabasalts. Overall, zones appear to be of limited width; however, two holes did report significant cuts. Hole E14-02B returned 3.50 metres of 9.00 g/t gold, including 2.50 metres of 12.51 g/t gold, and hole E14-03 intersected 7.00 metres of 2.77 g/t gold, including 3.00 metres of 3.92 g/t gold. Echo-Indin is one of several near surface prospects within a few kilometres of Nighthawk’s Colomac infrastructure and a potential candidate for higher grade supplemental feed.

 

Figure 1. Drill Hole Location Map – Goldcrest

2014 11 26 Fig#1

 

Figure 2. Cross section – Goldcrest holes G14-08 and 08B (G14-08 previously reported)

2014 11 26 Fig#2

 

Figure 3. Cross Section – Goldcrest Hole G14-11 and 11B

2014 11 26 Fig#3

 

Figure 4. Drill Hole Location Map – Echo-Indin

2014 11 26 Fig#4

 

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.

The technical content of this press release has been prepared under the supervision of and approved by Michael Byron, Ph.D., P.Geol., Chief Geologist and Director for Nighthawk, who is the “Qualified Person” as defined by NI 43-101 for this project.

 

Nighthawk Gold Corp.

Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. Its primary land position covers 229,791 acres or 930 square kilometres in the Indin Lake Gold Camp and includes an Inferred Mineral Resource estimate of 39.815 million tonnes with an average grade of 1.64 g/t gold, for 2.101 million ounces gold using a cut-off grade of 0.6 g/t gold.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

For More Information, Contact:

David WileyPresident and CEO  
Nighthawk Gold Corp.  
(647) 260-1247  
(416) 363-4567 (FAX)  
Email: dwiley@nighthawkgold.com  

 

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future drilling and the expansion of the mineralization. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Nighthawk, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

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