Nighthawk Intersects 152.00 Metres Of 2.47 GPT Gold (Uncut), Including 34.70 Metres Of 4.27 GPT Gold, And 9.65 Metres Of 6.90 GPT Gold And Expands High-Grade Zone 1.5 At Colomac
Toronto, Ontario, November 28, 2017 – Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to report on additional drilling from its 100% owned Colomac Gold Project located within its Indin Lake Gold Property, Northwest Territories, Canada.
Twelve drill holes, totalling 4,759 metres, targeted new areas within Zone 1.5 and Zone 2.0 of the Colomac Main sill, and continued to test the underexplored region between the two zones (Figures 1 to 5; Table 1). Hole C17-28 was drilled to the north down plunge within the high-grade core of Zone 1.5. It intersected several regions of continuous mineralization over its entire 780.61 metre downhole length, making it one of the best holes ever drilled at Colomac, highlighted by 152.00 metres of 2.47 grams per tonne gold (“gpt” “Au”), including 34.70 metres of 4.27 gpt Au, and 9.65 metres of 6.90 gpt Au; and 185.05 metres of 1.13 gpt gold, including 38.30 metres of 1.69 gpt Au, and 7.70 metres of 4.82 gpt Au. Drilling to date has expanded Zone 1.5 to new depths and along strike, validating its high-grade gold exploration model.
Colomac Drilling Highlights:
- Hole C17-28 intersected 152.00 metres (85.00 metre true width) of 2.47 gpt Au, including 34.70 metres of 4.27 gpt Au, and 9.65 metres of 6.90 gpt Au; 185.05 metres of 1.13 gpt Au, including 38.30 metres of 1.69 gpt Au, and 7.70 metres of 4.82 gpt Au; and 33.25 metres of 1.15 gpt Au, including 3.75 metres of 6.94 gpt Au;
- Hole C17-28 intersected several extensive regions of continuous mineralization over its 780.61 metre downhole length, of which 730 metres is mineralized, confirming the zone’s rake to the north, its continuity to a vertical depth of 660 metres, and extending the mineralization at depth over 300 metres north of C17-15C intersection (see news release dated September 18, 2017) where it remains open;
- Hole C17-27B intersected 57.85 metres (10.00 metre true width) of 2.08 gpt Au, including 15.30 metres of 4.06 gpt Au, and 6.75 metres of 5.35 gpt Au; extending near surface mineralization within the zone an additional 50 metres north (Figure 5);
- Zone 1.5 dimensions have been extended upwards of 300 metres in strike, to a vertical depth of 660 metres, and a true width of 30 to 60 metres in the near surface, but upwards of 155 metres at depth;
- The sill is uninterrupted to depth, well mineralized, and given its threefold increase in width to depth (see press release dated September 18, 2017) and consistent drill results to date, the potential for significant resource expansion is considered excellent;
- Hole C17-25 intersected 38.45 metres (32.00 metre true width) of 1.31 gpt Au, including 15.85 metres of 2.60 gpt Au, and 6.20 metres of 5.37 gpt Au.
Note: All assays are uncut (see Table 1)
Dr. Michael Byron, President and CEO commented, “Hole C17-28 has provided invaluable insight into the nature and scale of mineralization at high-grade Zone 1.5, and accordingly, elevated our understanding of the probable geometry of similar but less explored high-grade zones within the sill. In confirming our model for the zone’s internal higher-grade core, and successfully tracking its continuous mineralization to great depth, we are quickly developing a blue print for exploration that we are confident will lead to other exciting discoveries. The results from this work will be of vital importance for target generation prior to our upcoming 2018 drill program scheduled to commence in early March 2018. Everything drilled to-date at Zone 1.5 lies outside of the existing resource estimate area, but will be incorporated in a resource update to be completed early in 2018.”
Table 1. Colomac Drill Results (uncut)
|Zone||Hole ID||Collar Orientations (degrees)||Intersection||Core Length||True Width||Gold Grade|
|1.5||C17-30||90||45||Geophysical target - No intercepts|
* 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 60% to 80% of core lengths.
** Hole C17-28 was drilled parallel to the sill, thus reported composite intersections are horizontal intercepts.
Colomac Zone 1.5
Holes C17-16 and C17-16B were drilled within the near surface portion of the gap area between Zones 1.5 and Zone 2.0 (Figure 1), 50 metres north of C17-13 and C17-13B (see press release dated September 18, 2017). Hole C17-16, the shallower of the two, intersected limited mineralization and is believed to have traversed a weakly mineralized fault window related to the offset between the two zones. Hole C17-16B, the steeper hole, deviated to the south intersecting mineralization lateral to the fault at a vertical depth of 240 metres (Figure 5), returning 11.40 metres of 1.61 gpt Au, including 5.20 metres of 3.06 gpt Au, with a lower intercept of 24.30 metres of 1.13 gpt Au including 8.20 metres of 1.66 gpt Au; supporting the linkage between the two zones separated by a relatively narrow weekly mineralized fault zone.
Hole C17-26 was collared 260 metres north of C17-27 (Figure 1) to test an unexplored area of the sill north of Zone 1.5. It was drilled south, within and parallel to the sill, towards Zone 1.5 to prospect for new shallow areas of mineralization. It appears that the hole deviated to the west, instead of staying within the central portion of the intrusion, and tracked closer to its base where it intersected weaker mineralization. However, it did return a shallow intercept of 7.25 meters grading 1.39 gpt Au, including 2.50 metres of 3.61 gpt Au in a new area that will be revisited for follow-up work.
Drillholes C17-27 and C17-27B tested the northern extension of Zone 1.5 (Figure 1), 50 metres north of holes C17-12 and C17-12B (see August 24 news release). They were drilled into the upper portion of the sill above the zone’s plunging high-grade core (Figure 5), an area that had never been drilled. Both holes intersected strong zones of mineralization within 50 metres of the surface (Figure 2), highlighted by C17-27 which returned 40.00 metres of 1.21 gpt Au, including 6.25 metres of 3.58 gpt Au. The steeper hole, C17-27B, cut 57.85 meters of 2.08 gpt Au, including 15.30 metres of 4.06 gpt Au, and 6.75 metres of 5.35 gpt Au, extending Zone 1.5 mineralization an additional 50 metres to the north where it remains open.
Based on drill results to-date, the delineated higher-grade core of the zone defines a 40o rake to the north within the steeply dipping sill (Figure 5). Hole C17-28 (Figure 1) was laid out to drill along this higher-grade portion to depth, testing the zone’s continuity of mineralization, its projection to depth, and to validate the modeled rake. Gold mineralization was recorded for over 730 metres of the entire 780.61 metre downhole length (Figure 3). Several extensive sections of continuous mineralization are reported highlighted by 152.00 metres of 2.47 gpt Au, including 34.70 metres of 4.27 gpt Au, and 9.65 metres of 6.90 gpt Au; 185.05 metres of 1.13 gpt Au, including 38.30 metres of 1.69 gpt Au, and 7.70 metres of 4.82 gpt Au; and 33.25 metres of 1.15 gpt Au, including 3.75 metres of 6.94 gpt Au. To depth, the hole appears to have exited the high-grade core of the zone and crossed into well mineralized areas below the zone’s modeled path (Figure 5).
Hole C17-28 validated the zone’s rake to the north and continuity of mineralization to an astounding vertical depth of 660 metres. It has also extended the mineralization at this depth over 300 metres north of C17-15C, a deep hole that showed a tripling of the zone’s true width to 155 metres (see news release September 18, 2017). Work has yet to follow-up on the findings of C17-15C to determine if the sill’s widening at depth is a local or global feature; however, geological models are being updated in preparations for the next drill program where this will be addressed. Zone 1.5 remains open to depth and along strike.
In 2012 Nighthawk drilled a sub-vertical hole to depth within the heart of high-grade Zone 3.5 exploring for variations in mineralized quartz vein/stringer density and to test grade continuity (see press release dated October 10, 2012). Hole C12-15 intersected 203.4 metres of 2.49 gpt Au, including higher grade subintervals of 69.35 metres of 4.12 gpt Au, 25.75 metres of 7.78 gpt Au and 33.85 metres of 3.03 gpt Au, confirming the zone’s consistency and high-grade character from surface to a vertical depth of 400 metres. Zone 3.5 is located 2.8 kilometres south of Zone 1.5 yet their similarities are remarkable in terms of continuity of mineralization to depth and capacities to host broad domains of higher-grade material. Despite the considerable distance separating the two zones, these two holes (C12-15 and C17-28) provide important awareness into overall high-grade zone consistency and continuity, and highlight the incredible opportunity the Colomac system offers for expansion of known zones and for new discoveries.
Colomac Zone 2.0
Drillhole C17-25 was collared within the central region of Zone 2.0 (Figure 1), to undercut strong mineralization reported in historical hole 2.0-74-018. Two of Nighthawk’s previous holes, C12-02 and C12-02B, provided deeper cuts on this section leaving a void that C17-25 (Figure 4) filled by intersecting 38.45 metres of 1.31 gpt Au, including 15.85 metres of 2.60 gpt Au, and 6.20 metres of 5.37 gpt Au, 75 metres below hole 2.0-74-018, and 240 metres below surface. Work on this section has traced mineralization to over 400 metres vertical. Drilling within Zone 2.0 has consistently delivered very broad intercepts of strong mineralization often centred with internal high-grade intercepts. These discrete domains of better grade are being modeled based on our evolving understanding of grade development and localization within the Colomac Main sill.
All 2017 holes drilled on the Colomac Main sill have now been released, leaving just over 5,000 metres of the Company’s 26,168 metre program remaining to be reported on the Goldcrest Sill, Grizzly Bear deposit, and the North Inca deposit. These results will be released in due course, as will the findings from this year’s extensive regional prospecting and detailed mapping programs.
The Company is updating its geological and resource models with exploration results generated to-date to help develop new targets within the three main Colomac area sills, as well as other opportunities throughout its Indin Lake Gold Property. This work will form the foundation upon which opportunities will be assessed and targets developed for the upcoming 2018 drill program.
Figure 1. Plan View - Drillhole Locations
Figure 2. Cross Section - Drillholes C17-27, C17-27B
Figure 3. Cross Section – Drillholes C17-28
Figure 4. Cross Section – Drillholes C17-25
Figure 5. Zone 1.5 longitudinal section (looking west) showing drillhole pierce points and high-grade zone geometry.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
|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; and the release of an updated NI 43-101 technical report 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.