North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Nighthawk Gold Corp. Jan. 31 reported results from 31 holes drilled at the Colomac, Grizzly Bear, and 24 deposits during the second phase of a 72,325-meter 2021 drill program at Indin Lake, the largest drill program ever at this 930-square-kilometer (359 square miles) gold property in Northwest Territories.

According to calculation completed last May, Indin Lake hosts 38.7 million metric tons of indicated resource averaging 1.81 grams per metric ton (2.25 million ounces) gold and 11.5 million metric tons of inferred resource averaging 2.13 g/t (790,000 oz) gold.

Roughly 87% of the Indin Lake resource is found at the Colomac, a centralized project that includes four deposits within an 80-square-kilometer (30 square miles) area – Colomac Main, Goldcrest, Grizzly Bear, and 24/27.

The final batch of results are from three of these deposits, highlights include:

• 9.6 meters averaging 4.56 g/t gold from a depth of 32 meters in hole TFS21-19 (24 Deposit).

• 25.5 meters averaging 2.07 g/t gold from a depth of 161.5 meters in hole TFS21-22 (24 Deposit).

• 12 meters averaging 1.64 g/t gold from a depth of 57 meters in hole GB21-19 (Grizzly Bear).

• 28.75 meters averaging 1.01 g/t gold from a depth of 33.5 meters in hole GB21-21 (Grizzly Bear).

• Seven meters averaging 1.66 g/t gold from a depth of 60 meters in hole GB21-21 (Grizzly Bear).

• 14 meters averaging 1.07 g/t gold from a depth of 108 meters in hole C21-28 (Colomac Main).

• 36.5 meters averaging 0.7 g/t gold from a depth of 77 meters in hole C21-30 (Colomac Main).

Nighthawk expects all of these zones to contribute additional gold to the Colomac project when a new resource is calculated.

Nighthawk Gold Corp.

"The results from the 24 Deposit continue to exceed our expectations and support our goal of potentially increasing the current open-pit indicated and inferred mineral resource estimates. At Colomac Main, the latest results demonstrate decent mineralized widths in an area that had not been drilled extensively in the past so additional follow up drilling is justified in our next exploration campaign. At Grizzly Bear, the new drilling demonstrates that the deposit remains open to the north and will be a priority target in 2022," said Nighthawk Gold President and CEO Keyvan Salehi. "We remain on-track to deliver an updated mineral resource estimate in the first quarter of this year."

Author Bio

Shane Lasley, Publisher

Over his more than 15 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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