Nighthawk reports multiple high-grade intercepts at Colomac

20 August 2020

Nighthawk Gold Corp. is pleased to report assay results for two drillholes (1,533 metres) completed on Zones 1.5 and 3.5 of the Colomac Main Sill, part of the Colomac Gold Project centrally located within its Indin Lake Gold Property, Northwest Territories, Canada (Figure 1; Table 1 in the full release).
Nighthawk commenced its 2020 exploration program on March 13 with three drills on a planned 25,000-metre drill program. On March 27, 2020, the Company announced plans to temporarily suspend all activities in light of the Covid-19 ("Covid") pandemic and ceased all operations on April 5, 2020 (see press release dated March 27, 2020). The Company was able to complete five (5) holes, of which two (2) holes for Colomac are reported in today’s release. Nighthawk resumed exploration activities during the second week of July and is on schedule to complete its planned drill and regional field exploration programs.
Drilling at Colomac focused on areas lying immediately outside of the current resource,  within the areas outlined as the “Exploration Target”, as discussed in the Company’s 2020 mineral resource estimate (see press release dated July 28, 2020). It is proposed that with 50,000 metres to 75,000 metres of additional drilling within the Exploration Target there exists the potential to add up to 1.50 million ounces (“Moz”) of gold to the current resource at grades between 1.8 gpt Au and 2.0 gpt Au. The Company sees this as its best opportunity to quickly and efficiently advance Colomac.
Dr. Michael Byron, President and CEO commented, “Once the challenges imposed by the pandemic on remote operations such as ours were addressed, we resumed all activities without incident and are now on track to drill upwards of 25,000 metres this year. With drilling at Colomac focused on realizing the Exploration Target opportunity we anticipate finishing the year with approximately 20,000 metres of drilling having tested some of these high-profile areas.
“Both holes at Zones 1.5 and 3.5 provided additional drill coverage needed to help convert Exploration Target regions into resources, and successfully extended mineralization in these respective areas by an additional 130 metres to depth, with hole C20-02 at Zone 3.5 intersecting extensive mineralization with higher-grade internal cuts showcasing the higher-grade nature of Zone 3.5. We look forward to reporting on additional drilling as the information becomes available.”
DRILLING HIGHLIGHTS:

  • Zone 3.5 - Hole C20-02 intersected three well mineralized areas: an upper 8.65 metres of 4.81 grams per tonne gold (“gpt“, “Au”), including 4.35 metres of 8.85 gpt Au; an extensive mid level section that returned 33.25 metres (12 metres true width) of 3.89 gpt Au, including 9.25 metres of 10.93 gpt Au, and including 5.50 metres of 16.63 gpt Au; and a lower intercept of 6.50 metres grading 14.61 gpt Au, including 3.00 metres of 31.20 gpt Au;
  • Zone 1.5 - Hole C20-01 intersected 63.25 metres (35 metres true width) of 1.28 gpt Au, including 20.50 metres of 2.16 gpt Au, and including 4.50 metres of 4.11 gpt Au;
  • Both Colomac holes intersected well mineralized areas within the “Exploration Target”, and have extended mineralization to new depths, infilled gaps in drill coverage, highlighting the scale of opportunity that exists.

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