29 September 2020
Nighthawk Gold Corp. is pleased to report assay results for four (4) drillholes (1,896 metres) completed on Zone 3.5 of the Colomac Main Sill, part of the Colomac Gold Project (“Colomac”) centrally located within its Indin Lake Gold Property, Northwest Territories, Canada (Figure 1; Table 1). These are the first holes to be reported since the Company resumed drilling in mid-July after a 3-month suspension of activities due to Coronavirus precautions.
Zone 3.5 lies within the southern portion of the Colomac Main Sill and is one of several areas known to host distinct higher-grade mineralization. Drilling to-date has confirmed and expanded on historical drill results that alluded to the possible existence of a higher-grade domain. Recent drilling has continued to advance this opportunity by infilling areas of high-grade shallow mineralization, expanding them along strike, and tracking those areas to new depths. The Company has also been active drilling within the “Exploration Target” , a high-profile region of the Colomac Main sill that with 50,000 metres to 75,000 metres of new drilling up to 1.50 million ounces (“Moz”) of gold could potentially be added to the current resource at grades between 1.8 gpt Au and 2.0 gpt Au (see press release dated July 28, 2020). It is anticipated that by the end of the current 2020 drill campaign upwards of 20,000 metres of the required total will have been completed.
Dr. Michael Byron, President and CEO commented, “Drilling at Zone 3.5 continues to demonstrate the zone’s strong continuity of mineralization and overall cohesiveness of its higher-grade portions. Two of the four holes reported today from Zone 3.5 were drilled to address gaps in drill coverage, test the zone’s down plunge northern extension, and to explore new areas to depth and south of previous drilling. Both holes returned significant intercepts within new regions and have successfully extended mineralization to new depths, a strong indication of its untapped exploration potential to depth and along strike.”
“We are also pleased to report that drilling has been effective in providing some of the required intersections needed to help convert the “Exploration Target” opportunity in this area into future resources.”