Nighthawk Intersects 145.75 Metres Of 3.33 Gpt Gold (Uncut), Including 22.70 Metres Of 6.68 Gpt Gold (Uncut) And 10.80 Metres Of 12.19 Gpt Gold (Uncut) At Colomac; Step Out Drilling Expands High-Grade Zone 1.5
Toronto, Ontario, August 24, 2017 – Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK) is pleased to report assay results from its wholly owned Colomac Gold Project located within its Indin Lake Gold Property, the Northwest Territories, Canada. A total of eight recently completed drill holes (see Table 1; Figures 1 to 6) are being reported on with three holes following up on the Company’s latest drill results at Zone 1.5 (see press release dated July 13, 2017), that have significantly expanded the high-grade gold zone along strike and to depth below the current resource.
Highlights include hole C17-12B which intersected 145.75 metres of 3.33 grams per tonne (“gpt”) gold (“Au”), including 22.70 metres of 6.68 gpt Au, and 10.80 metres of 12.19 gpt Au, effectively extending the zone an additional 50 metres to the north. The remaining five holes probed the resource gap between Zones 1.5 and 2.0, returning broad, relatively uniform zones of mineralization, as seen in hole C17-10B which returned 86.30 meters of 1.45 gpt Au, including 8.40 metres of 3.03 gpt Au. Colomac drilling continues to deliver; backstopping confidence in the deposit’s resource expansion opportunities, and confirming the north plunging mineralization and strong continuity of the high-grade domain at Zone 1.5.
Colomac Drilling Highlights:
- Hole C17-12B intersected 145.75 metres of 3.33 gpt Au (25.00 metres true width), including 22.70 metres of 6.68 gpt Au and 10.80 metres of 12.19 gpt Au. This extends the mineralized zone an additional 50 metres north of previous intersections;
- A 40o rake tothe higher-grade portion of the zone was modeled outlining the orientation of the mineralization, and was intersected by C17-12B; subsequent drilling has continued tracking the zone and results are forthcoming;
- Current drilling expanded the high-grade gold zone by at least a 200 metres in strike length, and to a vertical depth of 350 metres, and has confirmed that mineralization extends an additional 250 metres (down plunge) past the current resource (which remains open). This represents an order of magnitude step out for the deposit;
- Hole C17-08B intersected 34.75 metres of 3.12 gpt Au (15.00 metres true width), including 10.40 metres of 7.48 gpt Au;
- Hole C17-09B intersected 66.60 metres of 1.04 gpt Au (50.00 metres true width), including 33.20 metres of 1.42 gpt Au. Hole C17-09C intersected 47.80 metres of 1.08 gpt Au (25.00 metres true width), including 16.90 metres of 1.87 gpt Au, and including 6.70 metres of 3.61 gpt Au, revealing wide zones of continuous mineralization in association with the boundary between Zone 1.5 and Zone 2.0;
- Hole C17-10B intersected 86.30 metres of 1.45 gpt Au (30.00 metres true width), including 23.30 metres of 1.98 gpt Au, and including 8.40 metres of 3.03 gpt Au;
- Current drilling has effectively infilled portions of the resource gap between the two zones showing a continuity of broad mineralization up to 300 metres in strike with early indications of higher-grade centres.
Note: All assays are uncut (see Table 1)
Dr. Michael Byron, President and CEO commented, “We have now reported on just over 9,000 metres of our planned 25,000 metre program, with all holes intersecting gold mineralization. We remain encouraged by the breadth of the mineralized zones that we continue to intersect, and are confident in our ability to continue tracing and expanding the high-grade mineralization at Zone 1.5. The fact that it can now be accurately tracked and expanded, and that it maintains its higher-grade character, are both important features that will positively impact our upcoming resource estimate. Drilling will continue to develop the zone as well as test other priorities within the Colomac and Goldcrest sills, and recently generated regional targets. Results of that work will be reported once assays are received and verified.”
Table 1. Colomac Drill Results (uncut)
|Core Length (metres)*||Au
* Lengths are reported as core lengths. True widths vary depending on drill hole dip; most holes are laid out to intersect the sill close to perpendicular therefore true widths are approximately 80% of core lengths.
Colomac Zone 1.5
Drilling continues to confirm broad zones of high-grade gold mineralization when testing the zone down-plunge and laterally. The resulting intercepts have extended the zone an additional 50 metres to the north and upwards of 200 metres in strike. Mineralization has also been extended 250 metres below the current resource to a vertical depth of 350 metres, and remains open. This represents a key advancement for the deposit, and an opportunity for significant resource expansion.
Hole C17-12B, the steeper of a 2-hole section (Figure 2), was drilled to test a potential extension of the zone north of all previous intersections, and beneath hole C14-05 (see press release dated December 3, 2014), which defined the zone’s northern, near-surface, boundary. It was drilled at an 80o dip, to target the projected rake of the mineralization to the north, and intersected 145.75 metres of 3.33 gpt Au, including 22.70 metres of 6.68 gpt Au and 10.80 metres of 12.19 gpt Au, suggesting that the high-grade mineralization appears to have a shallow rake of about 40o to the north (Figure 6). The shallower hole, C17-12, failed to intersect significant mineralization and is believed to have overshot the zone on this section. The same is true for hole C14-05, as it also intersected the sill above the high-grade portion.
Hole C17-08B, drilled near the northern margin of Zone 1.5 (Figure 3), tested the zone below C17-08 (see press release dated July 13, 2017). It intersected 34.75 metres of 3.12 gpt Au, including 10.40 metres of 7.48 gpt Au, and has extended the mineralization another 50 metres deeper on this section to almost 350 metres below surface.
Colomac Zone 2.0
Holes C17-09, 09B, 09C and C17-010, and 10B bracketed holes C17-06, 06B, and 06C (Figure 1, see press release dated July 13, 2017), the first holes drilled into the resource gap between Zones 1.5 and 2.0. These were laid out to test for the possible convergance of the two zones into a much larger higher-grade domain. The three C17-06 series holes intersected broad zones of gold mineralization (Figure 4), an indication that continuity exists between the zones and that the collective zone may ultimately extend upwards of 350 metres in strike. The C17-09 holes were spotted 50 metres north of the C17-06 series (Figure 1), to probe the gap further north. All holes generated strong intercepts, tracing the mineralization to 350 metres depth on the section as C17-09B returned 66.60 metres of 1.04 gpt Au, including 33.20 metres of 1.42 gpt Au, and C17-09C generated 47.80 metres of 1.08 gpt Au, including 16.90 metres of 1.87 gpt Au, and including 6.70 metres of 3.61 gpt Au.
Two holes drilled from the C17-10 setup (Figure 1) tested the gap almost 50 metres south of the C17-06 series holes. Hole C17-10B (Figure 5), the steeper of the two, intersected 86.30 metres of 1.45 gpt Au, including 23.30 metres of 1.98 gpt Au, and including 8.40 metres of 3.03 gpt Au, extending mineralization to almost 300 vertical metres from surface. Drilling to-date within the gap has confirmed the existence of wide zones of gold mineralization associated with the boundary between Zone 1.5 and Zone 2.0, and provided some evidence of higher grade cores. These higher-grade targets will be investigated in the upcoming drill program.
Figure 1. Plan View - Drillhole Locations
Figure 2. Cross Section - Drillholes C17-12, C17-12B
Figure 3. Cross Section – Drillholes C17-08, C17-08B
Figure 4. Cross Section – Drillholes C17-09, 09B, 09C
Figure 5. Cross Section – Drillholes C17-010, 10B
Figure 6. Zone 1.5 longitudinal section (looking west) showing drillhole pierce points. Significant intersections are highlighted in red.
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.
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 200 kilometres north of Yellowknife, Northwest Territories, Canada. Nighthawk is focused on advancing the Colomac Gold Project with a current inferred resource of 2.1 million ounces of gold (39.8 million tonnes at an average grade of 1.64 grams per tonne), as well as advancing its other regional gold deposits and showings within this Archean gold camp.
The Company has an experienced and dedicated team and is well funded to complete its goals and objectives over the next 18-24 months.
Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer 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. Please refer to NI 43-101 technical report “Technical Report and mineral resource estimate update on the Colomac Property of the Indin Lake Project”, dated June 17, 2013, as filed under the company’s profile on www.sedar.com.
|Dr. Michael Byron
President & CEO
|Suzette N Ramcharan
VP, Corporate Development
Neither the Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
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 drilling program, exploration plans, and the timing and results thereof. 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, 2016, 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.