Nighthawk Gold Updated Mineral Resource Estimate Demonstrates Significant Boost to the Global and Open-Pit Mineral Resources

9 February 2023

  • Global Mineral Resource Estimate: 3.4 Million Ounces (@ 1.50 g/t Au) Indicated and 1.7 million Ounces (@ 2.17 g/t) Inferred
  • Open-Pit Mineral Resource Estimate: 2.8 Million Ounces (@ 1.45 g/t Au) Indicated and 0.8 Million Ounces (@ 2.32 g/t Au) Inferred

TORONTO, Ontario, February 9, 2023 – Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to report an updated Mineral Resource Estimate[1] (the “2023 MRE”) on the Colomac Gold Project (the “Project”), located 200 kilometres (“km”) north of Yellowknife, Northwest Territories, Canada (please see Table 1 for the 2023 MRE Summary). The 2023 MRE demonstrates a significant expansion of the open-pit (“OP”) mineralization compared to the estimates reported in 2022[2] (“2022 Estimate”) and the potential for a future large-scale, OP project within the Company’s District-Scale exploration land package.

Table 1: 2023 MRE Summary1** (Effective date of February 9, 2023). Please review “Notes to Accompany the 2023 MRE” at the end of the news release for additional information.

 

Indicated Mineral Resource

Inferred Mineral Resource

Potential
mining method

Tonnes
(000s)

Grade
(g/t Au)

Contained
gold ounces

Tonnes
(000s)

Grade
(g/t Au)

Contained
gold ounces

Open Pit (OP)

59,945

1.45

2,804,000

10,773

2.32

802,000

Underground (UG)

10,486

1.73

584,000

13,526

2.05

889,000

Global (OP + UG)

70,432

1.50

3,388,000

24,299

2.17

1,691,000
 

  **Numbers may not add up due to rounding. 

Highlights:

  • 36% Increase in the total OP Indicated Mineral Resource estimate ounces and a +5% increase in grade compared to the 2022 Estimate2 (See Table 2);
  • 34% Increase in the total OP Inferred Mineral Resource estimate ounces and a 3% decrease in grade compared to the 2022 Estimate2 (See Table 2);
  • 26% Increase in the Global Indicated Mineral Resource estimate ounces and a +4% in grade compared to the 2022 Estimate2 (See Table 2);
  • 27% Increase in the Global Inferred Mineral Resource estimate ounces and a +3% increase in grade compared to the 2022 Estimate2 (See Table 2); and
  • Maiden Colomac Gold Project Preliminary Economic Assessment (“PEA”) scheduled to be completed mid-2023.

See the full release for more tables and figures. 

View Details