23 June 2020
Nighthawk Gold Corp. is pleased to announce the results from the 2019 regional exploration program on its 100% owned Indin Lake Gold Property in the Northwest Territories, Canada. Field activities were carried out from June to early September 2019 and included detailed bedrock mapping and sampling of several key target areas (Figure 1).
A total of 1,485 grab and channel samples were collected to follow-up on some of the areas highlighted by the 2018 regional program (see press release dated February 19, 2019), and to continue exploring for new opportunities throughout the Indin Lake Gold Property. Field work has resulted in the discovery of new areas of mineralization and the expansion of several strategic gold occurrences. Regional diamond drilling in 2019 was limited to the Treasure Island Gold Project (“Treasure Island”) where 19 holes were successfully completed, further advancing this well mineralized target area.
Dr. Michael Byron, President & CEO commented, "Nighthawk acquired Colomac and consolidated approximately 95% of the Indin Lake Greenstone Belt, including all of its historical gold mines, deposits, and showings to execute on the enormous untapped potential of this land package. Colomac is a unique brownfield asset with incredible promise that was largely overlooked until its affinity to one of the world’s richest gold deposits was recognized by Nighthawk in 2012. As Colomac continues to progress and reveal its multi-million-ounce growth trajectory, the value of the fertile gold camp that it resides within also grows in prominence, and we control it all. The Indin Lake camp resembles many of Canada’s prolific Archean gold camps except for its vastly unexplored state, and therein lies its value proposition; a juvenile gold camp with its full discovery potential yet to be realized."
Highlights
•Treasure Island 2019 Drill Program - All 19 holes intersected gold mineralization highlighted by hole T19-11 which intersected 12.70 m of 8.51 grams per tonne gold (“gpt” “Au”), including 7.30 m of 14.06 gpt Au. A 200-metre wide panel of mineralization has been traced continuously over 750 metres along strike from surface to upwards of 200 metres vertical depth where it remains open.
•High-grade gold at Andy Lake Project (“Andy Lake”) – Channel and grab samples returned up to 42.80 gpt Au from mineralized shears.
•New high-grade gold mineralization at Barker-Vidie showing – Grab samples returned up to 13.65 gpt Au – high-grade zone extended to 300 m along strike.
•Zone 24 surface showing – Grab samples returned up to 8.83 gpt Au taken from surface quartz veins.
•New surface showings at Fishhook Gold Project (“Fishhook”) – Grab samples returned up to 6.25 gpt Au from host silicate and oxide facies iron formation.