Nighthawk Intersects 32.95 Metres of 4.19 g/t Gold, Including 12.33 Metres of 7.77 g/t Gold, at Colomac
Toronto, Ontario, October 26, 2015 – Nighthawk Gold Corp. (“Nighthawk“) (TSX Venture: NHK) is pleased to announce results from its recently completed 2015 drill program on its Indin Lake Gold Property in the Northwest Territories (“NWT”) (Figure 1 | Table 1). The results from this year’s program include 32.95 metres (“m”) of 4.19 grams per tonne (“g/t”) gold, including 12.33 m of 7.77 g/t gold, from hole C15-04B. Drilling focused on extending the recently discovered high-grade gold mineralization at Zone 1.5 and testing Zone 1.0 for the first time.
Colomac Main – Zone 1.5:
- Results represent a successful follow-up on Nighthawk’s 2014 drill program — where hole C14-06 intersected 52.50 m of 7.78 g/t gold, including 21.00 m of 16.73 g/t gold in Zone 1.5 (see December 3, 2014 news release) — by expanding the zone over 60 m along strike and to a depth of 175 m;
- Hole C15-04B intersected 77.75 m of 2.63 g/t gold, including 32.95 m of 4.19 g/t gold, including 12.33 m of 7.77 g/t gold, and including 4.16 m of 14.57 g/t gold;
- Hole C15-05B intersected 10.35 m of 3.48 g/t gold, and 21.50 m of 2.32 g/t gold, including 5.25 m of 6.91 g/t gold; and
- Hole C15-06 intersected 31.20 m of 3.89 g/t gold, including 22.50 m of 5.03 g/t gold, and including 5.75 m of 10.43 g/t gold.
Colomac Main – Zone 1.0:
- 2015 drilling opened up over 2.0 kilometres of largely unexplored intrusion by confirming the potential for high-grade gold zones north of Zone 1.5; and
- Hole C15-03 intersected 43.10 m of 1.13 g/t gold, including 8.45 m of 2.23 g/t gold, and 13.80 m of 1.50 g/t gold, including 4.55 m of 3.67 g/t gold;
Five holes were drilled within Zone 1.5 to expand the recently discovered high-grade gold mineralization defined by hole C14-06, which intersected 52.50 m of 7.78 g/t gold. Holes C15-04 and 04B (Figure 2) were collared 25 m south of C14-06 and intercepted 77.75 m of 2.63 g/t gold, including 32.95 m of 4.19 g/t gold, including 12.33 m of 7.77 g/t gold. Hole C15-06 (Figure 3) was drilled 25 m north of C14-06 returning 31.20 m of 3.89 g/t gold, including 8.60 m of 7.63 g/t gold. Present drilling has validated the existence of the high-grade gold zone over a strike length of at least 60 m and to a vertical depth of 175 m; the zone remains open in all directions.
Three shallow holes were also completed at Zone 1.0, located 2.0 km north of Zone 1.5 along the trend of the intrusion, as part of an initial campaign to test for high-grade gold zones similar to Zone 1.5. All holes intersected significant mineralization over a strike length of 60 m and to a vertical depth of less than 150 m. Grade appears to improve to the south as evidenced by hole C15-03 intersecting 43.10 m of 1.13 g/t gold, including 8.45 m of 2.23 g/t gold (Figure 4, the southernmost collar location within Zone 1.0). This was Nighthawk’s first drilling within the northern sector of the intrusion, which effectively opened up over 2.0 kilometres of prospective ground.
|Table 1. Colomac Drill Results|
|Hole ID||From (m)||To (m)||Core Length (m)*||Gold (g/t)|
|Table 1. Colomac Drill Results (continued)|
|Hole ID||From (m)||To (m)||Core Length (m)*||Gold (g/t)|
* Lengths are reported as core lengths. True widths are unknown at this time.
Figure 1. Summer 2015 Drill Sites
Figure 2. C15-04-04B Drill Section
Figure 3. C15-06 Drill Section
Figure 4. C15-03 Drill Section
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 prepared in accordance with National Instrument 43-101, (“NI 43-101”) 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 (see June 17, 2013 news release).
The technical aspects of this press release have 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.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future drilling, the expansion of the mineralization, and the remediation of historic reclamation sites. These forward-looking statements are 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 statements. 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.
Neither 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 release.
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President and CEO
|Nighthawk Gold Corp.|
|(416) 363-4567 (FAX)|