Nighthawk Gold (NHK-T) has drilled mineralization averaging 13.49 grams of gold per tonne across 56 metres, a true width of 35 metres, in Zone 1.5. A second hole within the same zone produced 111 metres averaging two grams of gold per tonne, a 53-metre true width that included a 9.75-metre subinterval averaging nearly five grams per tonne.
The assays are from 16 holes spanning just over 5,300 metres that tested "specific high-grade targets" within the central three kilometres of the nine-kilometre-long Colomac Main sill. While the high-grade targets may have been specific, high-grade hits were sporadic at best, with just two of the holes yielding subintervals with grades above 10 grams per tonne. Still, high-grade gold is a relative concept and Colomac is a lower-grade project, with a current tally of 50.3 million tonnes inferred at 1.62 grams per tonne, or 2.6 million ounces of gold.
Investors were therefore enthused with the one noteworthy hit that Dr. Byron described as a record intercept that accentuates the capacity of Zone 1.5 to deliver "exceptional gold grades over incredible widths." With an $11-million financing now complete, Nighthawk proposes to "implement our most active and expansive drill program to date" -- a plan that has now been expanded to 35,000 metres of drilling this year. "We are incredibly excited and encouraged," Dr. Byron says, adding that much more is left to be uncovered within the project. (He hopes.)
Business Reporter |
