Nighthawk Initiates Drill Program at Colomac
TORONTO, ONTARIO--(Marketwired - Jul 28, 2015) - Nighthawk Gold Corp. ("Nighthawk") (TSX VENTURE:NHK) is pleased to announce the initiation of its 2015 drill program at its 100% owned Colomac Gold Deposit in the Northwest Territories. Drilling will focus on extending the recently discovered high-grade gold mineralization at Zone 1.5 and testing Zone 1.0, which is believed to host mineralization similar to Zone 1.5, for the first time.
HIGHLIGHTS:
- The program will follow-up on the success of Nighthawk's 2014 drill results where hole C14-06 intersected 52.50 metres of 7.78 grams per tonne ("g/t") gold, including 21.00 metres of 16.73 g/t gold in Zone 1.5 (see December 3, 2014 news release);
- A 3,000 metre drill program, to be completed by early September 2015, will focus on Zones 1.0 and 1.5, which comprise the northern portion of the Colomac sill (Figure 1);
- The objective is to better define the dimensions of Zones 1.5 and 1.0 and further evaluate the extent of gold mineralization contained therein, especially within the near surface environment.
Nighthawk President and CEO, David Wiley, commented, "The significant results we encountered from Zone 1.5 during our 2014 drill program prove the northern portion of the Colomac sill merits further exploration. Those results clearly demonstrate the potential for significant resource growth at Colomac. Zones 1.5 and 1.0 along the Colomac sill have been historically underexplored and present attractive targets. We look forward to testing these areas and advancing our project."
Colomac Zones 1.0 and 1.5
C14-06 was the first hole Nighthawk drilled to test Zone 1.5 to depth given that historical holes solely focused on exploring to less than 100 metre vertical depth. C14-06 delivered a new discovery of high-grade gold representing the best intercepts ever reported for the entire Colomac project area. An intercept of 7.78 g/t gold over a down hole length of 52.50 metres highlights the zone in which 16% of all samples collected contained visible gold. The current drill program will help delineate the dimensions and expansion opportunities of this new discovery.
Such high-grade results clearly demonstrate the potential for significant resource growth at Colomac. Zone 1.0 lies 2 kilometres north of Zone 1.5 within a largely underexplored section of the sill. Nighthawk will commence drilling for the first time in this area following up on some historical shallow intercepts that may be indicative of a burgeoning high-grade zone similar to Zone 1.5. Discovery of these high-grade gold shoots are a primary focus for the company as they will add significant upside to any mineable resource.
Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. Its primary land position covers 229,791 acres or 930 square kilometres in the Indin Lake Gold Camp and includes an Inferred Mineral Resource estimate of 39.815 million tonnes with an average grade of 1.64 g/t gold for 2.101 million ounces gold using a cut-off grade of 0.6 g/t gold.
The technical aspects of this press release have been reviewed by Michael Byron, Ph.D., P.Geo., Chief Geologist and Director for Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future drilling, the expansion of the mineralization, and the remediation of historic reclamation sites. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Nighthawk, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view Figure 1. Summer 2015 Drill Sites, please visit the following link: http://media3.marketwire.com/docs/150728_NHK_Figure-1.pdf
Contact
Nighthawk Gold Corp.
David Wiley
President and CEO
(647) 260-1247
(416) 363-4567
dwiley@nighthawkgold.com