Nighthawk’s 930-km2 District-Scale Gold Property package (see Figure 1) lies along the West Bay – Indin Lake Fault Zone, a regional structure that extends over 200 km from the shores of Great Slave Lake to areas north of the Indin Lake Greenstone Belt. This fault zone contains the historical Giant and Con gold mines (historical production of approximately 13 million ounces of gold (“oz Au”) to the south and Colomac (historical production of 527,908 oz Au)) within its northern extent. The Company believes this structure has played a major role in the development and localization of gold mineralization; much the same role as that of other large regional fault zones, such as the Destor-Porcupine Fault’s influence on gold deposit formation within the Timmins gold camp. The Indin Lake Greenstone Belt remains one of the few underexplored historic Archean gold camps in Canada.
Figure 1 – Nighthawk District-Scale Gold Property
The property is located within a historic gold belt which had been largely ignored for almost twenty-five years, rendering it vastly underexplored with numerous untested prospective targets. Several gold deposits and showings lie within the property, the most significant being the Colomac Main Deposit (“Colomac Main”), a former producing open pit gold mine, which was acquired by Nighthawk in January 2012. Nighthawk has significantly advanced Colomac Main along with four other deposits (Goldcrest, Grizzly Bear, 24 and 27) that sit within proximity to Colomac Main (together, the “Colomac Centre”) while advancing the four high-priority, higher-grade satellite deposits (Kim, Cass, Damoti, and Treasure Island) that are between 11 km to 28 km from the Colomac Centre.
Within the Indin Lake Gold Property, Nighthawk has identified a number of highly prospective targets that have been previously drilled and require follow up work (see map below). It has the same characteristics as does any productive high-profile Archean gold camp, with an abundance of high-grade showings and deposits with widespread mineralization in a range of styles that are largely hosted in brittle regimes
PROPERTY DESCRIPTION, LOCATION & ACCESS
The 930-km2 Property is located in the Indin Lake area of the Northwest Territories, Canada, at latitude 64°24'N and longitude 115°06’W, approximately 220 km northwest of Yellowknife (see Figure 2). Access is available via a gravel landing strip approximately 1,500 m long and capable of landing cargo aircraft located on the Property. The Property can also be accessed by air via helicopter and ski-or float-equipped fixed-wing aircraft on Baton Lake or Steeves Lake. Land access to the Property is possible via an approximately 245 km long winter road (Robb, 1997) that starts west of Yellowknife and branches off from the No.3 Highway at the T???ch?? community of Behchok??. Since November 2021, The TASR, a permanent, 97-km-long, two-lane gravel highway on a former winter road alignment from Hwy 3, roughly 40 km south of Behchoko??, leading to the community of What?? is also available. The TASR improves the access to the Property from Yellowknife by reducing the amount of winter road access.
Figure 2 – Location of Nighthawk's District-Scale Gold Property