26 June 2019
TORONTO, June 26, 2019 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) is pleased to provide additional drilling results from the Colomac Gold Project ("Colomac"), centrally located within its 100% owned Indin Lake Gold Property, Northwest Territories, Canada. Nine drillholes (2,992 metres), were recently completed, that targeted select areas within the south-central portion of Zone 2.0 of the Colomac Main sill, considered favourable for hosting higher-grade mineralization (see Table 1; Figures 1, 2, and 3). Drilling spanned a 500-metre section of the zone with all holes intersecting mineralization, highlighted by hole C19-19 which returned 60.75 metres grading 2.61 grams per tonne ("gpt") gold ("Au"), including 13.40 metres of 4.45 gpt Au, and including 7.75 metres of 6.85 gpt Au.
Dr. Michael Byron, President and Chief Executive Officer said, "Zone 2.0 is the location of the former producing open pit. It is also the widest section of the sill and contains the largest portion of the current resource. With these latest results we have successfully traced a newly discovered continuous higher-grade corridor within the southern part of the zone, to a vertical depth of almost 350 metres where it remains open in all dimensions. These results are a true testament to the sill's remarkable untapped endowment. Being largely unexplored to depth, we consider this area to be extremely valuable for resource growth opportunities, as well as a strong candidate for hosting additional higher-grade mineralization."
"We are approaching our halfway point in terms of metres drilled and are on track to easily surpass our originally planned 35,000 metres. At present we have two drills in operation at Colomac with the third now active at Treasure Island, located 12 kilometres to the north. Later in the program drills will be mobilized to some of our other high-priority regional prospects as we continue to advance our thesis that the Indin Lake Greenstone Belt has the potential to become Canada's next gold camp."
Note: All assays are uncut (see Table 1)
The Company commenced drilling at Colomac in early March and will continue until late September. With our increased exploration budget, we expect to complete in excess of 20,000 metres at Colomac, which along with the 17,319 metres completed in 2018 will form the basis of a resource update in 2020. Exploration activities will continue to concentrate on the discovery and expansion of higher-grade gold opportunities within the Colomac area sills and will also include expanded drill programs on some of Nighthawk's high-priority regional prospects while continuing aggressive field exploration programs throughout the Indin Lake Gold Property.
Read the full release here.