Nighthawk Reports High-Grade Mineralization from Initial Drilling at Cass

3 August 2021

Hole CM21-12 returned 6.92 g/t Au over 51.00 m,  including 11.31 g/t Au over 19.50 m

TORONTO, Aug. 3, 2021 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results for nine (9) drillholes (1,266 metres) from the Cass Zone ("Cass"), located 15km southwest of the Colomac Centre within its Indin Lake Gold Property, Northwest Territories, Canada (Figure 1; Table 1).

Keyvan Salehi, President & CEO commented, "At the start of the year we outlined a new strategy looking at targets that could not only contribute to increasing the global resource base, but also increasing the average resource grade. Cass very quickly became a top target for us, given the historical drilling results and the possibility for expansion not only along strike but at depth.

"These drilling results illustrate the near-surface high-grade nature of Cass, showcasing good widths and continuity of the mineralization. The results clearly demonstrate the presence of a continuous high-grade core which appears open at depth, offering both easily accessible open pit potential as well as underground possibilities. The current drill results including the eastern extension, continue to return significant near-surface mineralization. We look forward to providing additional results from the Phase I program at Cass as they become available."

A VRIFY interactive 3D model of the Cass Zone, including the drill results announced today is available through the following link: https://www.nighthawkgold.com/news/ 

Highlights of Cass Drilling Results:

  • Hole CM21-12 tested the core of the mineralized zone to confirm historical information and to obtain important geological information on the type of deposit that hosts the mineralization, which showed regular and consistent gold mineralization throughout the intersection as follows:
    • 6.92 grams per tonne gold ("g/t", "Au") over 51.00 metres ("m") starting at 121.75 m (Figure 2);
    • Including a higher-grade core of 11.31 g/t Au over 19.50 m starting at 144.50 m;
    • Highest single assay result of 96.70 g/t over 0.50 m with 19 out of 87 samples higher than 10.00 g/t Au (22%); and
    • 28 different samples contained visible gold (32%).
  • Drilling at the east extension followed up on Nighthawk drilling conducted in 2014, which returned interesting results 500 m east of the main zone:
    • CM21-04 returned 1.10 g/t Au over 8.25 m starting at 35.75 m including 10.80 g/t Au over 0.50 m (Figure 3); and
    • CM21-06 returned 1.78 g/t Au over 15.25 m starting at 52.00 m including 2.23 g/t Au over 9.50 m (Figure 3).

Note: True widths remain undetermined at this stage.

To date, approximately 35,000 metres of drilling have been completed as part of the Phase I program, with 13,220 metres having been reported on. There are currently two (2) drills at Fishhook and one (1) drill located at each of the following targets: the Cass Zone (western extension); the Albatross Target (immediately to the southwest of Cass); and at the 24/27 zones within the Colomac Centre.

Drilling tested the core of the zone to confirm historical information and to obtain important geological information on the type of deposit that hosts the mineralization. This is also an integral part of the validation process in order to include the historical data into the upcoming resource update. The core demonstrates consistent sheared and altered gabbro hosting abundant quartz veining along with pyrrhotite, arsenopyrite, and multiple sightings of visible gold throughout the interval. Drilling also tested the eastern extension of the zone to the northeast, in an area with limited drilling as conducted by Nighthawk in 2014 (see press release dated December 3, 2014). The recent drilling in this area returned interesting results 500 m east of the main zone, warranting follow-up in Phase II of the 2021 program.

Validation of the Kim & Cass database is progressing well and will be integrated with the 2021 program along with the remaining drilling which is currently testing the western extension and is expected to be reported on shortly. The Kim & Cass zones typically show better than average grades with consistently good widths up to surface and we expect they will contribute significantly to the total in-pit resources of the property.

Table 1 – Cass Zone Drilling (Core and Eastern Extension) – Summary Table

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