8 March 2022
TORONTO, March 8, 2022 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report an updated Mineral Resource Estimate¹, on its 100%-owned, district-scale Indin Lake Gold Property (the "2022 MRE"), located 200 kilometres ("km") north of Yellowknife, Northwest Territories, Canada. The 2022 MRE (refer to Table 1 for a summary) demonstrates a substantial expansion in pit-constrained ("OP") mineralization compared to the estimates reported in 2021 ("2021 Estimate")² and the potential for a future large-scale, higher-grade, open-pit project in the district.
Keyvan Salehi, President & CEO commented: "We are extremely pleased with the results of the updated 2022 MRE, which exceeded our own expectations. The shift in our strategy early last year towards higher-grade, pit-constrained mineralization, combined with a much more accelerated and aggressive approach towards exploration, have resulted in a significant expansion in the OP mineral resource estimates at our property. We have successfully increased our OP mineral resource estimates to approximately 2.1 million ounces in the Indicated category and 0.6 million ounces in the Inferred category. After evaluating all the data and working towards a future conceptual mine plan, we believe that the scalability of the project to a potentially robust, large open-pit operation, far outweighs the marginal decrease in overall OP grades compared to the 2021 Estimate. With just over 72,000 metres of drilling completed last year, our current evaluations and consideration of the project benefit tremendously from the extensive information received from our 2021 drill campaign."
"We are particularly excited about the contributions of higher-grade, near-surface mineralization from the Kim & Cass, Damoti, and Treasure Island deposits. These four deposits combined represent approximately 0.5 million ounces grading 2.62 g/t Au of Inferred estimated mineral resources in the 2022 MRE. These higher-grade deposits remain open along strike and at depth providing an opportunity to further enhance the global mineral resource estimated grades with additional drilling. Our 2022 exploration program will focus on expanding higher-grade mineralization, whilst continuously looking at the entire property for additional higher-grade targets and long-term opportunities. We look forward to providing timely updates on our 2022 exploration program and other developments."
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