20 January 2020
Nighthawk Gold Corp. is pleased to report assay results for eight drillholes (4,011 metres) completed on Zones 1.5 and 2.0 of the Colomac Main Sill, part of the Colomac Gold Project ("Colomac") centrally located within its Indin Lake Gold Property, Northwest Territories, Canada (Table 1). All holes intersected mineralization and define a widening to depth of the mineralized upper portion of the east facing sill and a corresponding expansion along strike to the south.
Previously drilled hole C19-39B defined a substantial increase in true width of the mineralized portion of the sill within the northern part of Zone 2.0 (see press release dated December 3, 2019). Current drilling south of C19-39B appears to add a further southward strike extension of the 500-metre-long wedge-shaped panel of mineralization formed by the amalgamation of high-grade Zone 1.5 with northern Zone 2.0. At shallow depths the panel has a true width of 30.00 metres but expands to upwards of 155.00 metres in true width at 800 metres vertical depth where it remains open. The Company is planning additional drilling in 2020 to better constrain these preliminary observations.
Dr. Michael Byron, President and Chief Executive Officer said, "As we continue drilling deeper within the host sill we are seeing a well-defined consistency in the widening of its mineralized portion to depth. The current holes have strengthened that observation and our understanding that this is not a localized feature but probably represents the true morphology of the Colomac Main Sill, and given that it is the deposit's largest host, it also represents our best target for rapid resource advancement."
"We have tremendous support from our strategic partners and loyal shareholders which puts us in the favourable position of being fully-funded for the year. We look forwarding to providing results for the remaining holes in the coming weeks and providing an update on our 2020 exploration plans."
To date a total of 29,495 metres of the 35,018-metre program at Colomac have been released. Results are pending for the remaining 17 drillholes from the Colomac Main Sill and the Goldcrest Sill (parallel sill that lies 400 metres to the west of the Colomac Main Sill), as well as the last 9 holes (2,796 metres) from the regional drill program at the Treasure Island Gold Project and will be released within the next few weeks.