Nighthawk Reports High Grade Results At Cass

13 January 2022

Hole CM21-44 returned 3.76 g/t Au over 33.15 m including 7.16 g/t Au over 9.50 m

TORONTO, Jan. 13, 2022  /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results for thirteen (13) drillholes (totalling 5,373 metres) at the Cass Zone ("Cass"), along with twelve (12) holes (totalling 3,558 metres) drilled at the Kim Zone ("Kim").

Drilling at Cass (Figure 1 and 2) tested the depth extension of the known historical mineralization, where very limited drilling had previously been done below 200 metres ("m"). The host altered gabbro of the mineralization was intersected in every hole with visible gold encountered in three holes (CM21-44, CM21-46, and CM21-48). Hole CM21-44 was the highlight of this series returning high-grade gold mineralization across an extensive width of 33.15 m, demonstrating the potential of Cass, which remains open at depth and further to the east.

Keyvan Salehi, President & CEO commented "We are very pleased with the results released today from an area that continues to impress. The higher-grade nature of Cass mineralization at depth is an important milestone for this area, demonstrating potential for underground mining opportunities. While our goals for 2021 were focused on the delineation of near-surface, open pit ounces, this year and going forward, we will begin to allocate capital to test the depth extension of our deposits where the grade profile potentially supports the addition of underground resources to our existing global resource base."

Highlights of Cass and Kim Drilling Results

  • Drilling at depth at Cass encountered high grade gold values (Figure 2), as highlighted by:
    • Hole CM21-44 returned 3.76 grams per tonne gold ("g/t", "Au") over 33.15 m, including 7.16 g/t Au over 9.50 m (Figure 3);
    • Hole CM21-42 returned 2.21 g/t Au over 8.00 m; and
    • Hole CM21-46 returned 1.09 g/t Au over 21.75 m including a higher-grade portion of 2.77 g/t Au over 4.00 m;
    • Follow-up drilling this year will continue to test higher-grade mineralization at depth.
  • Drilling at Kim encountered the following results, highlighted by the width of the intersect in hole KM21-05;
    • Hole KM21-05 returned 0.91 g/t Au over 23.00 m;
    • Hole KM21-04 returned 1.52 g/t Au over 7.50 m; and
    • Hole KM21-08 returned 1.12 g/t Au over 5.75 m

Cass Zone (at depth)
A series of drill holes were completed below the known mineralization to explore its potential for extension at depth. Hole CM21-44 is considered very important for the future of Cass at depth as it is the most eastern and deepest hole drilled at Cass and the zone remains untested below and further to the east. Identifying and delineating deeper high-grade zones could significantly add quality ounces at Cass and contribute higher-than-average grade mineralization to support the global resources of the property.

Kim Zone
Drilling at Kim consisted of a series of holes completed at moderate depth below historical drilling. The mineralized host sheared contact between sediments and volcanics was encountered in every hole. Although low to moderate grades were obtained in these holes, the width of the mineralization in hole KM21-05 demonstrates that higher-grade ore shoots could occur at depth.

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