Nighthawk enters into option agreement to acquire the Kim & Cass property, located 15km southwest of Colomac
18 February 2021
Nighthawk Gold Corp. is pleased to announce that it has entered into a binding option agreement, with Geomark Exploration Ltd., (‘Geomark”) a wholly owned subsidiary of Pine Cliff Energy Ltd., to acquire a 100% undivided leasehold interest in four (4) contiguous mining leases (the “Kim & Cass Property”, a total of 7,588 acres (31km2) that incorporate the historic Kim and Cass zones), immediately adjacent to Nighthawk’s Indin Lake Gold Property, Northwest Territories, Canada.
The Kim & Cass Property is an integral part of Nighthawk’s consolidation strategy and represents an important piece of ownership that provides contiguity to the main claim group with the Albatross claim block (Figure 1). Nighthawk believes that the historic Kim and Cass zones and the 4km-long Albatross trend (with surface samples returning up to 20.60 grams per tonne gold (“g/t”, “Au”)) enhances the potential of identifying near-surface mineralization within 15km of the Colomac Main Deposit (“Colomac”). The apparent higher-grade nature of historical drilling suggests that with further exploration work, that there may be the possibility for above-average, near-surface deposits in line with the Company’s near-term objectives.
Nighthawk’s President & CEO, Keyvan Salehi commented, “We are encouraged by the high-grade nature encountered by historic drilling at both Kim and Cass, especially given that drilling was constrained mainly within 75 metres of surface, leaving significant room for expansion at depth. The zones are immediately east of our Albatross target which has returned surface values of up to 20.6 g/t Au over a 4km strike length. Together, they represent quality targets that fit our immediate strategy of looking for near-surface, higher-grade opportunities proximal to Colomac. Additional work contemplated in this area will be discussed as part of the 2021 exploration program, the details of which will be released once all preparatory work has been completed in the coming weeks.”