Geoscience and Exploration

Indin Lake Gold Project – 2018 Colomac Update

Thursday, November 22, 2018 - 11:40 to 11:59 Theatre 1


W. Waychison (Presenting)
Nighthawk Gold Corp

M. Byron
Nighthawk Gold Corp

Nighthawk Gold Corp. (NHK) is a Canadian based mineral exploration company currently focused on advancing its 100% owned, Indin Lake Gold Property, a 222,203-acre land package located 200 kilometres north of Yellowknife, Northwest Territories within the Indin Lake Gold Camp.

A 43-101 Inferred Mineral Resource estimate of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 grams per tonne gold) is defined at the Colomac Gold Project. Approximately 50% of the mineralized Colomac and Goldcrest intrusions are captured by this 2018 estimate, leaving an underexplored and highly prospective deposit that hosts several newly discovered high-grade gold zones, and broad domains of lower grade mineralization. In 2018 Nighthawk completed 124 holes for 32,504 metres, of which 55 holes for 14,952 metres were completed at Colomac.

Information will be presented for Nighthawk’s model for gold mineralization for the Colomac sill, confirming Colomac’s analogue to the Golden Mile Dolerite gold deposits, Kalgoorlie, Western Australia. Mineralization is hosted by a differentiated mafic sill of similar age with a sodic, siliceous, and brittle upper portion amenable to clean fracturing during regional structural deformation, fluid transport, and mineral deposition, and the preferential host for gold mineralization. Kalgoorlie is one of the world’s largest gold deposits, exceeding 60 million ounces of production since 1893.

Nighthawk’s 2018 drilling of Colomac was directed at high-grade Zones 1.5, and 3.5 as well as Zones 2.5 and 3.0. At Zone 3.5, last drilled during in 2012, results have detailed and confirmed its steep northern plunge, while recent drilling of high-grade Zone 1.5, discovered in 2014, has extended its dimensions to upwards of 300 metres in strike, to a vertical depth of 660 metres, and a true width of 30 to 60 metres in the near surface, and upwards of 155 metres at depth. Drill results for Zones 2.5 and 3.0 remain to be reported. Eleven holes for 2,367 metres were directed at the lesser known Grizzly Bear zone, located SW of the Colomac sill, following up on two maiden holes drilled in 2017. Results reveal significant near surface intercepts including (GB18-02) 6.25 metres of 4.04 gpt Au, and an undercut (GB18-02B) 17.25 metres of 2.00 gpt Au, including 4.50 metres of 5.13 gpt Au.

Nighthawk’s 2018 campaign included the continuation and expansion of its regional exploration and drilling programs throughout the underexplored yet fertile Indin Lake gold camp. This included drilling 69 holes for 17,552 metres on the following prospects: Leta Arm properties, Treasure Island (last drilled in 2011), Damoti Lake (last drilled in 2010), and Swamp, a recent surface discovery of extensive alteration and mineralization. Available results are highlighted by Diversified hole DV18-08, which returned a new high-grade discovery 90 metres below surface that opened the deposit to the north with 17.50 metres (14.00 metre true width) of 5.81 gpt Au, including 9.25 metres of 9.65 gpt Au.