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Mining Explorers 2015: Nighthawk Gold Corp.

 

Last updated 11/1/2015 at Noon



NHK: TSX.V

Chief Executive Officer: David Wiley

Chief Geologist: Michael Byron

Nighthawk Gold Corp. initiated a 3,000-meter drill program at its Indin Lake gold property late in 2015.

Located 220 kilometers (137 miles) north of Yellowknife, Northwest Territories, the Indin Lake property hosts a number of gold deposits, including the historical Colomac open-pit mine, which produced 527,908 ounces of gold during the 1990s.

The Colomac portion of the larger Indin Lake property hosts five known gold deposits - Colomac Main, Grizzly Bear, Goldcrest, Dyke Lake, and 24/27 - of which, only the main Colomac deposit was mined.

In 2013, Nighthawk reported an inferred mineral resource estimate of 39.815 million metric tons averaging 1.64 grams per metric ton (2.1 million ounces) gold.

Late in 2013, the company completed an option agreement to acquire four mining leases adjacent to the Indin Lake property that encompass two additional gold deposits - Kim and Cass.

This year Nighthawk focused its exploration on Zone 1.5 and Zone 1.0, two emerging exploration areas.

At Zone 1.5, Nighthawk will follow-up on high-grade intercepts drilled last year.

C14-06, the first hole Nighthawk drilled at Zone 1.5, cut 52.5 meters of 7.78 g/t gold, including 21 meters of 16.73 g/t gold.

The goal of this year's drilling was to test the size potential of this zone.

About 2,000 meters north of Zone 1.5, Nighthawk will complete its first-ever drilling of Zone 1.0.

The company says historical shallow drilling at this target indicate the potential for an emerging high-grade gold zone similar to 1.5.

Cash and short-term deposits: C$2.1 million (April 30, 2015)

Working capital: C$2.2million (April 30, 2015)

Market capitalization: C$3.8 million (Sept. 22, 2015)

150 York Street, Suite 410, Toronto, Ontario, M5H 3S5

Tel: 647-260-1247 • Fax: 416-363-4567

 

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