Nighthawk Gold Corp. Oct. 21 said it is encouraged by the drilling in resource expansion areas of the Colomac project on its Indin Lake gold property in Canada's Northwest Territories.

According to a calculation completed earlier this year, Colomac hosts 25.9 metric tons of indicated resource averaging 2.01 grams per metric ton (1.67 million ounces) gold; plus 5.7 million metric tons of inferred resource averaging 2.03 g/t (372,500 oz) gold.

Much of this resource is found along the Colomac main sill, which consists of six zones – 1.0, 1.5, 2.0, 2.5, 3.0 and 3.5 – along a more than 3,500-meter stretch of the sill.

The latest batch of assay results are from four holes drilled in three of these zones – 1.5, 2.0 and 3.0.

The best intercept came from a hole drilled in Zone 2.0.

This hole, C20-06, cut 252.1 meters (150 meters true width) averaging 1.84 grams per metric ton gold, including 200.5 meters (110 meters true width) of 2.01 g/t gold.

Higher-grade intercepts in hole C20-06 include:

• 19.4 meters of 2.3 g/t gold in an upper intersection.

• 12.5 meters of 3.66 g/t gold in a midlevel intersection.

• 16 meters of 4.91 g/t gold in a lower intersection.

"The 280 meters of continuous downhole mineralization intersected in hole C20-06 illustrates the shear amount of mineralized rock hosted by the Colomac Main sill, reinforcing our beliefs in the future potential of the project," said Nighthawk Gold President and CEO Michael Byron.

Zones 1.5 and 2.0, which were merged with previous drilling is considered by Nighthawk to be the strongest mineralized section of the Colomac Main sill. Hole C20-06 has extended the Zone 1.5-2.0 panel by 140 meters to the south for a total of around 640 meters of total strike length.

Hole C20-03, drilled in Zone 1.5, cut 38.3 meters (21 meters true width) averaging 2.09 g/t gold, including 10.5 meters of 4.16 g/t gold.

Nighthawk said holes C20-03 and C20-06 both demonstrate widening of this area of the Colomac deposit at depth.

Hole C20-08 cut 85 meters (43 meters true width) of 1.19 g/t gold, including 21.8 meters of 2.35 g/t gold in Zone 3.0.

"We are very encouraged by the recent drilling at Colomac, which targeted high-profile areas within the 'exploration target' where we are focused on building near-term ounces," Byron said.

Nighthawk drilled three deposit areas during the recently completed 2020 exploration program at Indin Lake, with the bulk of this drilling completed at Colomac.

"The drilling season at our Indin Lake Gold Property has now come to an end with a total of 22,993 meters of drilling completed at Colomac, the Treasure Island gold project, and a small campaign at the Leta Arm gold project, where results have already been released," said Byron.

The company plans to complete between 70,000 and 75,000 meters of drilling at Indin Lake during 2021 and has expanded the camp and added a drill to meet this aggressive target for next year.

"The fifth drill has arrived on site, and camp expansion is nearing completion in preparation for the expanded 2021 program which will advance a number of regional assets that have high-grade potential," Byron said.

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