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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (7488)	7/9/2014 8:15:09 AM
From: Goose94	Read Replies (1) \| Respond to of 202784

Nighthawk Gold (NHK-V) July 8, '14 has commenced the 2014 drill program at its Indin Lake gold property in the Northwest Territories. Highlights: 14,000-metre drill program under way on the Colomac Main, Goldcrest, Cass and Kim gold deposits; Represents Nighthawk's first drilling at Goldcrest, Cass and Kim; Two drill rigs are scheduled to complete 8,000 metres of resource expansion drilling at the Goldcrest (6,000 metres) and Colomac Main gold deposits (2,000 metres); Goldcrest drilling to focus on verifying and expanding on previous shallow, higher-grade gold intersections that are open to depth; Colomac Main drilling will aim to expand zones 2.0 and 2.5 down plunge of previously drilled higher-grade shoots; A third rig will drill the Cass (4,000 metres) and Kim (2,000 metres) gold deposits (20 kilometres southwest of Colomac) to confirm historic high-grade intersections at Cass and to extend mineralization to depth and laterally; Reported historic gold intersections at Cass (March 26, 2014; April 10, 2014; April 24, 2014, news releases) establish its potential as a near-surface, bulk-minable opportunity that hosts significant grades over sizable widths. Nighthawk president and chief executive officer, David Wiley, commented: "Our focus for the 2014 drill program will be to expand and upgrade our current National Instrument 43-101 inferred mineral resource estimate. We are particularly looking forward to our first drill programs at the Goldcrest, Cass and Kim gold deposits, and we remain highly optimistic of their resource expansion potential. We anticipate the Cass deposit's high-grade gold shoots will form the basis for a new resource estimate to complement our existing resource at Colomac." Goldcrest Goldcrest represents a plus-2.7-kilometre mineralized mafic sill similar to the Colomac intrusion located 400 metres to the east. Goldcrest is a primary candidate for resource expansion and hosts the highest average grade in the current resource estimate at 2.19 grams per tonne (g/t) gold (June 17, 2013, news release); historic drilling was limited to a depth of 100 metres. A 6,000-metre drill program is planned to fully evaluate this opportunity as historic drilling shows both improving grade and development of significant mineralized widths with depth. Colomac Main A 2,000-metre drill program on zones 2.0 and 2.5 is intended to confirm the plunge of the higher-grade gold shoots (June 20, 2012, news release). This work will also lay the foundation for a subsequent winter program by expanding down plunge target opportunities that are best drilled from frozen lake set-ups. Cass The Cass deposit is connected by road to Colomac (located 20 kilometres to the northeast). Mineralization is characterized by stockwork quartz-carbonate veins with minor pyrrhotite and lesser pyrite and arsenopyrite within a northeast-trending, moderate to strongly foliated gabbroic intrusion. Approximately 13,500 metres of historic drilling traced the mineralization over a strike length of 360 metres and to a depth of 210 metres. The deposit remains open in all directions. A 4,000-metre drill program will aim to trace and expand on the historically reported high-grade intersections (March 26, 2014; April 10, 2014; April 24, 2014, news releases) to depth and along strike. Detailed mapping and sampling of trenches along possible lateral extensions of the deposit will also be carried out to help generate additional drill targets. The Cass style of mineralization points to the largely untested potential for discovery of significant gold mineralization in other gabbroic bodies such as those hosting the underexplored and nearby Raspberry and Albatross gold occurrences. In addition, similar showings have been located throughout the Indin Lake gold belt and represent priority exploration targets to be assessed in the 2014 field program. Kim The Kim deposit (located approximately 15 kilometres by road to the southwest of Colomac) lies within a sequence of northerly striking, steeply dipping, mafic to intermediate volcanic rocks. Mineralization is reportedly hosted by intercalated, massive and pillowed mafic volcanic units that have been traced over a strike length of 650 metres and to depths of up to 150 metres. A 2,000-metre drill program is planned to confirm and extend the shallow mineralization to depth and along strike. Over 18,000 metres of historic Kim drill core is stored on-site. Results from select historic holes will be released as they are finalized.