Nighthawk Reports Drill Results from its Phase I 2021 Exploration Program at Colomac and Goldcrest

21 July 2021

  • Wide, near surface mineralization identified at Colomac, and high-grade mineralization encountered at the southern extension of Colomac/ Goldcrest.

  • Hole C21-05 returned 3.80 g/t Au over 22.40 m, including 6.37 g/t Au over 11.00 m

TORONTO, July 21, 2021 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results for twenty-three (23) drillholes (6,651 metres) at the main Colomac Deposit ("Colomac"), and four (4) holes (1,251 metres) at the Goldcrest within its Indin Lake Gold Property, Northwest Territories, Canada (Figure 1; Table 1).

Keyvan Salehi, President & CEO commented, ''We are quite pleased with the results at both the south and especially the north extension of Colomac, an area which has seen very limited drilling by the Company in the past. The main objective for these areas was to further expand the extent of mineralization along strike. The area to the north shows wide mineralization within 150 meters from surface showing better than expected continuity, albeit at slightly lower grades. However, given the shallow depth, lower grade mineralization can significantly enhance the total value of the project due to easier access and potentially lower strip ratios.

In the south area and at Goldcrest, the presence of narrower, high-grade intersections is very encouraging and ties into our efforts to increase the average grade of the global resource base. In both cases, further drilling will establish continuity of these intersections with an ultimate goal of delineating additional in-pit resources.''

Highlights of Colomac and Goldcrest Drilling:

  • At the northern extension of Colomac (Zone 1.0), shallow isolated pit shells were included as part of the 2021 mineral resource estimate ("2021 MRE"), and drilling tested the potential for expansion given the limited amount of drilling to-date in this area (Table 1).
    • C21-08 returned 1.10 grams per tonne gold ("g/t", "Au") over 33.50 metres ("m") (Figure 2);
    • C21-13 returned 1.02 g/t Au over 25.45 m (Figure 3);
    • C21-16 returned 1.05 g/t Au over 17.00 m (Figure 4); and
    • C21-22 returned 1.35 g/t Au over 20.50 m (Figure 5).
  • At the southern extension of Colomac (Zone 3.5), drilling followed up on previously encountered near-surface intervals in holes C20-05 and C20-05B and confirmed the presence of shallow high-grade mineralization (Table 2).
    • C21-11 returned 4.70 g/t Au over 6.00 m, and 6.78 g/t Au (51.13 g/t uncut, over 4.25 m, including 427.00 g/t uncut over 0.50 m (Figure 6).
  • Hole C21-05, which was collared from Colomac, was extended further to the west to undercut Goldcrest at depth and returned 3.80 g/t Au over 22.40 m, including 6.37 g/t Au over 11.00 m (Figure 6, Table 1).

To date, approximately 31,000 metres of drilling have been completed as part of the Phase I program, with 11,950 metres having been reported on. There is currently one (1) drill located at each of the following targets: the Cass Zone; the Albatross Target (immediately to the southwest of Cass); the Fishhook Target; the Laurie Lake Target; and at the 24/27 zones within the Colomac Centre.