Mining Explorers 2012: Nighthawk Gold Corp.
Last updated 11/11/2012 at Noon
(formerly Merc International Minerals Inc.)
Chairman: John McBride
President and CEO: David A. Wiley
Chief Geologist: Michael J. Byron, Ph.D.
Nighthawk Gold Corp. is focused on exploring its 900-square-kilometer (222,203 acres) Colomac Gold Property, which comprises more than 90 percent of the Indin Lake Greenstone Belt including the Indin Lake Gold Camp located about 200 kilometers (124 miles) north of Yellowknife, Northwest Territories.
The property, which includes the former producing Colomac Gold Mine, has an inferred mineral resource estimate of 42.65 million metric tons with an average grade of 1.05 grams-per-metric-ton gold for 1.446 million ounces gold using a cut-off grade of 0.6 g/t gold.
The Colomac Gold Project contains at least five separate gold deposits open in all dimensions (Colomac Dyke, Grizzly Bear, Goldcrest, Dyke Lake, and 24/27), only one of which, the Colomac Dyke Deposit, was historically mined.
The 2012 drilling program ran from March 19 to August 21, with two drills completing 30 holes (11,235 meters).
In September, Nighthawk said drilling continues to confirm the presence of higher grade gold shoots, including one with 128 meters of 1.36 g/t gold, containing 71.85 meters of 2.04 g/t gold, 46.15 meters of 2.81 g/t gold, and 8.65 meters of 6.83 g/t gold - all of which remain open to depth and laterally.
The shoots discovered to date indicate the potential for similar mineralized gold shoots along the intrusion's seven-kilometer strike length.
Nighthawk is currently compiling and reviewing all results to date in preparation for a winter 2013 drill program.
Cash and short-term deposits: C$11.93 (April 30, 2012)
Working capital: C$10.04 million (April 30, 2012)
Market capitalization: C$20.46 million (Sept. 28, 2012)
130 King St. West
Exchange Tower, Ste. 2120
Toronto, Ont. Canada M5X 1C8
Tel: (647) 260-1247 Fax: (416) 363-4567