Nighthawk drills 6.75 g/t gold over 12.75 metres at Colomac Centre, Northwest Territories

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Nighthawk Gold Corp. [NHK-TSX; MINZF-OTC] reported the initial drill assay results from its 2022 exploration program, with encouraging results from its 24 and 27 deposits (collectively, the 24/27 deposit) located in the Colomac Centre area on its 100%-owned Indin Lake property in the Northwest Territories, Canada.

Drill hole TFS22-02 returned 6.75 g/t gold over 12.75 metres, including 16.45 g/t gold over 2.75 metres. TFS22-01 returned 3.62 g/t gold over 10.50 metres, including 19.25 g/t gold over 0.50 metres.

TFS22-09 returned 2.42 g/t gold over 8.25 metres, including 10.75 g/t gold over 0.75 metres. TFS22-16 returned 1.91 g/t gold over 17.00 metres.

Keyvan Salehi, PEng, Nighthawk president and CEO, commented: “We received more encouraging drill assay results from the Colomac Centre. The 24/27 deposit drilling yielded higher-grade, near-surface mineralization outside the current mineral resource estimate pit shells. Drill hole TFS22-02 intersected 6.75 g/t gold over 12.75 metres and was the highlight of this batch of results. The potential expansion of the open-pit mineralization in the Colomac Centre appears to be supported by the data received so far.”

Drilling in 2022 primarily targeted areas outside the 2022 MRE pit shells. Nighthawk’s goal is to continue expanding the potential pit-constrained mineralization, particularly in the higher-grade areas. This latest batch of results represents 4,387 metres of drilling bringing the total reported assay results to 10,003 metres of drilling for 2022.

Most of the 2022 exploration drilling at the 24/27 deposit was designed to target higher-grade, near-surface mineralization outside of the known mineralization. Gold mineralization in these areas is hosted by grey-white smoky quartz veins, within a sheared intermediate volcaniclastic rock bounded on the east by sediments. Most of the 24/27 deposit drill assay results returned mineralized intersections outside the current mineral resource estimate pit shells, which suggest the potential expansion of the mineral resources in these areas.

Mineralized widths at the 24 deposit were confirmed to be wider than previously thought, as evidenced by drill hole TFS22-02, which intersected mineralization of 6.75 g/t gold over 12.75 metres (including 16.45 g/t gold over 2.75 metres) and 1.20 g/t gold over 26.75 (including 8.41 g/t gold over 1.1 metres) closer to surface than previously expected. TFS22-13 and TFS22-11 are step-out drill holes located approximately 250 metres to the north, along strike, of the 24/27 deposit. Both drill holes intersected narrow mineralized quartz veining within the same intermediate volcanic on as the 24 deposit and warrant continued exploration along strike. Additional drill assays are pending for the south extension of the 24/27 deposit.

Nighthawk is a Canadian-based gold exploration company with 100% ownership of more than 930 km2 of district-scale land position within the Indin Lake greenstone gold belt, located approximately 200 km north of Yellowknife. The company is advancing several highly prospective exploration targets. The Colomac Centre and Satellite deposits currently have a mineral resource estimate of 58.2 million tonnes grading 1.44 g/t gold for 2.69 million ounces in the indicated category and 19.7 million tonnes grading 2.10 g/t gold for 1.33 million ounces in the inferred category.


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