Resource World Magazine

F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 57 said that as a 100% Aboriginal-owned, community-based business, Bouwa Whee Catering was an ideal partner to reach out to for the new contract. "We want to con- tinue to strengthen our partnerships with those communities that have Impact Benefit Agreements with our business, so by select- ing a local community company that has invested for the long-term will provide that business and the community better long-term planning and sustainability," said Truter. "We have also engaged with our other IBA partners to identify similar 'Evergreen Contract' opportunities, which will be put in place in the coming months and years for qualified local businesses." Not only is the NWT a major pro - ducer of rough diamonds, its capital, Yellowknife, has become a significant man- ufacturing centre. Just recently, the NWT government approved Almod Diamonds Limited as an Approved NWT Diamond Manufacturer. "A new, viable entrant to the local diamond manufacturing industry is a welcome development in our economy. Value-add operations will provide new opportunities for NWT residents and the international marketing of our diamonds will benefit the territory as a whole," said Wally Schumann. Dominion Diamond Corp. [DDC-TSX, NYSE] continues producing diamonds at the very successful 88.9%-owned Ekati dia - mond mine and the Diavik diamond mine, owned as to Rio Tinto plc [RIO-NYSE, ASX, LSE], 60%, and Dominion Diamond 40%. For 2016, Diavik recovered 6.66 mil- lion carats (on a 100% basis). For the second half of fiscal 2017, Ekati is expected to pro- duce over 112 million carats. Old gold mines often have several rein- carnations and the Colomac Project of Nighthawk Gold Corp. [NHK-TSXV] in the Indin Lake region is no exception. The Colomac Mine operated 1990-1992 and 1994-1997 when production was halted due to low gold prices; however, the region's broader exploration potential is finally getting the attention it deserves. The Indin Lake gold camp hosts a clas - sic Archean greenstone belt of which just over 222,000 acres has been defined to date. Numerous gold deposits and show- ings are distributed throughout the camp within four distinct deposit settings: dif- ferentiated mafic sill; structure related "lode gold;" iron formation hosted; and brecciated intrusion hosted. One of the geological analogues being used to target exploration in the Indin Lake region is the famous Kalgoorlie gold camp in Western Australia, both of which are hosted by fractionated mafic intru - sions cutting mafic volcanic rock package. The rocks are similar not only in age but in styles of deformation and alteration. In addition, the gold is concentrated within the more silica-rich fractions (top of sills) and is largely controlled by structure. Seven highly prospective targets have been outlined by Nighthawk with primary targets Colomac and Goldcrest constitut - ing an inferred mineral resource estimate of 39.815 million tonnes averaging 1.64 g/t gold for 2.101 million ounces gold using a cut-off grade of 0.6 g/t gold. The Colomac resource consists of five gold deposits only two of which have been drilled by Nighthawk, outlining the exceptional resource growth potential. Some of the results from these zones have been quite spectacular – not only in terms of grade but also in terms of intercept length. Drilling within the Damoti Lake target area returned 10.53 metres of 63.48 g/t gold, 11.25 m of 32.21 g/t, and 23.5 m of 13.91 g/t. Among the longest intercepts was 238.43 metres of 0.73 g/t gold, includ - ing 29 metres of 2.45 g/t gold within the Treasure Island target area. Nighthawk's successful and aggressive evaluation of its Colomac Project has caught the attention of at least one major, Kinross Gold, which took part in a $10.1 private placement that saw it acquire a 9.4% equity interest in LEFT: Drilling at the Mispickel Zone at the TerraX Minerals Yellowknife City Gold Project, immediately north of the City of Yellowknife, Northwest Territories. Photo courtesy TerraX Minerals Inc.

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