Nighthawk drills 6.55 m of 16.65 g/t Au at Colomac
2012-09-19 07:20 ET - News Release
Mr. David Wiley reports
NIGHTHAWK DRILLS 6.55 METRES OF 16.65 G/T GOLD AND 50.15 METRES OF 1.87 G/T GOLD, INCLUDING 14.6 METRES OF 5.03 G/T GOLD AT COLOMAC; DISCOVERS ADDITIONAL HIGHER GRADE GOLD SHOOT
Nighthawk Gold Corp. has released assay results from six recently completed drill holes, all of which intersected gold mineralization, on its 100-per-cent-owned Colomac gold property in the Northwest Territories. Drilling targeted and intersected the northward extension of Zone 3.5 (see August 20, 2012 release), and discovered a higher grade gold shoot plunging to depth beneath Zone 3.0. Drill results have also verified the broadening of Zone 3.5 to the north, which now appears to merge with Zone 3.0. Nighthawk's repeated discovery and recognition of the association between distinct higher grade plunging gold shoots within more extensive and broadly mineralized zones opens up widespread resource expansion opportunities at the Colomac Gold Project.
Highlights:
Zone 3.0 (2.0 kilometres south of Zone 2.0) Hole C12-12 intersected 26.50 metres of 2.07 grams per tonne ("g/t") gold, including 20.25 metres of 2.66 g/t gold and 6.00 metres of 7.13 g/t gold; Hole C12-12B intersected 6.55 metres of 16.65 grams per tonne gold, including 1.95 metres of 54.64 g/t gold; Above intersections represent Nighthawk's latest discovery of a fourth higher grade plunging gold shoot; Zone 3.5 (2.5 kilometres south of Zone 2.0) Hole C12-13 intersected 52.30 metres of 1.12 g/t gold, including 31.50 metres of 1.50 g/t gold and 6.10 metres of 4.64 g/t gold; Hole C12-13B intersected 50.15 metres of 1.87 g/t gold, including 22.75 metres of 3.43 g/t gold and 10.20 metres of 6.25 g/t gold; Zones 3.5 and 3.0 may merge forming a larger mineralized domain with internal, distinctly separate, higher grade mineralized shoots; and Newly recognized association of higher grade plunging shoots within more extensive mineralized zones (Zones 2.0, 2.5, 3.0, and 3.5) opens up significant resource growth opportunities along the sill's 7 kilometre strike length.
Exploration Results
The 2012 drilling program ran from March 19 to August 21, with two drills completing 30 holes (11,235 metres). Although the current resource model shows consistent gold mineralization along the sill's 7 kilometre strike length, drilling was focused on a 2.5 kilometre section between Zones 2.0 and 3.5. Sectional drilling tested depths up to 200 metres below the current resource. Assays from the initial eight holes of the program, were released on June 20, 2012, and an additional twelve holes were reported on August 20, 2012. Results are pending for the remaining four holes.
Within the Colomac sill, drilling continues to confirm the presence of higher grade gold shoots, all of which remain open to depth and laterally. The four shoots discovered to date (beneath Zones 2.0, 2.5, 3.0, and 3.5) indicate the potential for similar mineralized gold shoots along the intrusion's 7 kilometre strike length.
Nighthawk is currently compiling and reviewing all results to date in preparation for a winter 2013 drill program.
Exploration Results
Nighthawk's summer 2012 prospecting program was completed on September 11. Prospecting teams covered much of the company's Indin Lake property concentrating on priority target areas. Results are currently being evaluated.
The technical aspects of this press release have been reviewed by Michael Byron, Ph.D., P.Geol., Chief Geologist and Director for Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project. |
