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Resource World - Oct-Nov 2016 - Vol 14 Iss 6

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Page 34 of 67

o c t o b e r / n o v e m b e r 2 0 1 6 35 NIGHTHAWK GOLD CORP. [NHK-TSXV] has been assembling and exploring its 100%-owned 809 km 2 claim group that covers 90% of the Indin Lake Gold Camp, located about 220 km north of Yellowknife, Northwest Territories. Their strategic holdings in this emerging gold camp are backstopped by a multi-million ounce gold deposit and surrounding highly prospec- tive land package. The claim group includes several high priority targets, one of which is the past- producing Colomac Mine, Nighthawk's flagship property. Actively exploring since 2012, Nighthawk believes it has added sig- nificantly to its latest 2013 resource which currently sits at an inferred 2.1 million oz gold (1.64 grams/tonne at a 0.6 g/t cut-off). Colomac is a differentiated intrusion over 7 km long with true widths of up to 40 metres. Mineralization occurs near surface and is open-pittable, yet remains open and unexplored laterally and to depth as both higher grade shoots and broader envelopes. Differentiated intru- sions are known to contain significant gold deposits, and one of the world's largest, Kalgoorlie, is hosted by an intrusion simi- lar to Colomac. Kalgoorlie lies within the Eastern Goldfields of Western Australia with production in excess of 50 million ounces of gold to date. In early July Nighthawk began its 2016 Colomac drill program (10,000-metre) with two drill rigs to expand recently discovered high-grade gold mineralization at Zone 1.5, explore for new high-grade zones, and follow-up on the 2014 drilling results at Goldcrest, its sister intrusion located 400 metres west. Drilling at Zone 1.5 will build on the success of Nighthawk's 2014 and 2015 results, highlighted by their best intersection to date of 52.50 metres grad- ing 7.78 g/t gold, including 21.00 metres of 16.73 g/t gold. However, it is of note that the northerly- trending gold belt features numerous gold showings, seven of which Nighthawk has identified as highly prospective targets, most of which have returned very encour- aging gold assays. Dr. Michael Byron, President and CEO, told Resource World, "The Indin Lake belt is a vastly under-explored Archean green- stone belt yet it's the same age and has the same favourable characteristics of better known historic Canadian mining camps hosted in similar greenstone terrains. From our perspective, the most telling difference is the overall lack of exploration attention and dollars spent in the Indin Lake area, and herein lies the opportunity Nighthawk believes exists and is poised to unlock." The Indin Lake belt is located within the West Bay – Indin Lake Fault Zone, a regional structure (>200 km long) host to over 12 million ounces of historic gold pro- duction to the south (Con and Giant Mines). Nighthawk's land package includes sev- eral gold deposits and showings of which four distinct deposit settings are present: differentiated mafic intrusion (Colomac and Goldcrest sills); structure related lode gold (North Inca and Diversified Mines); iron for- mation hosted (Damoti deposit, Fishhook, JPK); brecciated intrusion hosted. Damoti is a high-grade gold prospect hosted in folded iron-formation associated with sulphides. Nighthawk completed drill- ing in 2009 and 2010 that expanded known mineralization and discovered new zones. The Treasure Island showing lies within a six-km mineralized corridor hosting sev- eral gold showings, yet more than 95% of this corridor has not been drill tested. Drilling in 2011 was successful in confirm- ing historically reported mineralization, intersecting new zones at depth, and extending zones in all dimensions. For example, 238.43 metres of 0.73 g/t gold, including 29 metres of 2.45 g/t. The JPK showing lies directly east of Treasure Island within a mineralized silicate-sulphide iron formation north of Colomac. Surface sampling along a 3-km section of the iron formation assayed up to 12.10 g/t gold. Nighthawk drilling at the North Inca and Diversified Mines extended known mineralized zones laterally and to depth, while confirming the localized high-grade nature of the mineralization and expand- ing zone widths. Drilling yielded 26.0 metres of 6.86 g/t gold. Outcrop sampling at Echo-Indin con- firmed historical sampling, returning three assays greater than 30.0 g/t gold, 13 assays greater than 4.0 g/t gold, and 22 assays greater than 1.0 g/t gold. Six holes were drilled in 2014 successfully undercutting surface showings and intersecting gold mineralized quartz veins. "Our summer drill program will be completed by mid to late September to be followed by a winter 2017 drill program in mid-February," said Dr. Byron. "This should set us up for a resource update by spring 2017 that will show continued growth as we advance this multi-million ounce, underexplored, deposit. From there we will be in a position to make a deci- sion on whether or not we have enough information, including our recently initi- ated metallurgical studies, to commission a Preliminary Economic Assessment." Nighthawk also holds a 100% interest in the Superior copper project 85 km north of Sault Ste. Marie, Ontario which it acquired through a merger with Superior Copper. n Nighthawk Gold seeks to develop Canada's next gold camp in the NWT by Ellsworth Dickson Diamond drilling a prospective target at Nighthawk gold's Colomac gold project in the Indin Lake greenstone belt about 220 km northwest of Yellowknife, Northwest territories. photo courtesy Nighthawk gold Corp. miNiNg

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