Nighthawk Reports 80.70 Metres of 4.53 g/t Gold and 61.50 Metres of 4.24 g/t Gold from Historic Drilling at Cass
10 April 2014 - 9:00PM
Marketwired
Nighthawk Reports 80.70 Metres of 4.53 g/t Gold and 61.50 Metres of
4.24 g/t Gold from Historic Drilling at Cass
TORONTO, ONTARIO--(Marketwired - Apr 10, 2014) - Nighthawk Gold
Corp. ("Nighthawk") (TSX-VENTURE:NHK) reports additional assay
results from 16 historic holes drilled in 1987 on its Cass gold
deposit located on Nighthawk's Indin Lake Gold Property in the
Northwest Territories ("NWT").
HIGHLIGHTS:
- Hole C87-16 intersected 80.70 metres of 4.53 grams per tonne
("g/t") gold, including 20.40 metres of 7.83 g/t gold and including
19.95 metres of 6.16 g/t gold;
- Hole C87-23 intersected 61.50 metres of 4.24 grams per tonne
gold, including 6.70 metres of 12.11 g/t gold, and including 8.0
metres of 5.54 g/t gold and including 11.85 metres of 5.51 g/t
gold;
- Hole C87-25 intersected 18.40 metres of 10.03 g/t gold,
including 9.60 metres of 11.81 g/t gold; and
- Hole C87-15 intersected 12.80 metres of 10.30 g/t gold,
including 5.90 metres of 20.06 g/t gold and including 11.20 metres
of 5.76 g/t gold.
David Wiley, President and CEO of Nighthawk commented, "The 1987
historic drill results from Cass demonstrate the deposit's
continuity and widths of mineralization. We continue to analyze
additional historical drill results for the Kim and Cass deposits
and anticipate reporting more results over the coming weeks."
Historic Drilling and
Results
The Cass deposit is characterized by broad zones of near surface
stockwork style gold mineralization within an elongate and
vertically dipping gabbroic body. Previously reported highlights
from 1986 drilling (Figure 1; March 26, 2014 news release) define
continuous mineralization over significant core lengths within 75
metres of surface. Areas below the 1986 drilling were targeted by
the 1987 drilling (Figure 2; 5,877 metres), extending
mineralization over a strike length of 360 metres and to a depth of
210 metres, thus confirming the deposit's continuity and widths of
mineralization. Drilling verifies the exploration opportunities to
depth and along strike, distinguishing Cass as a vastly
underexplored deposit type within the Indin Lake Gold Camp.
Select 1987 Cass drill intercepts (16 holes) are presented in
Table 1. Composite intersections were chosen to demonstrate the
deposit's continuity of mineralization over extensive core lengths
(Figure 3). These results are historic in nature and Nighthawk has
not independently verified the results.
Table 1. Historic 1987 Drill Results from Cass |
Hole ID |
From |
To |
Core Length* |
Grade |
(m) |
(m) |
(m) |
g/t Au |
C87-05 |
210.50 |
219.00 |
8.50 |
5.36 |
C87-11 |
221.90 |
238.00 |
16.10 |
3.05 |
|
including |
221.90 |
232.50 |
10.60 |
4.10 |
|
including |
225.50 |
230.20 |
4.70 |
6.74 |
C87-12 |
124.00 |
132.10 |
8.10 |
5.02 |
|
164.60 |
168.00 |
3.40 |
3.16 |
|
177.50 |
192.00 |
14.50 |
3.33 |
|
including |
183.00 |
187.70 |
4.70 |
6.08 |
|
215.45 |
235.70 |
20.25 |
3.39 |
|
including |
215.45 |
224.90 |
9.45 |
5.18 |
|
219.30 |
224.90 |
5.60 |
6.47 |
C87-13 |
130.60 |
139.70 |
9.10 |
2.30 |
|
204.30 |
210.80 |
6.50 |
2.91 |
C87-14 |
79.00 |
88.30 |
9.30 |
3.09 |
C87-15 |
2.80 |
15.60 |
12.80 |
10.30 |
|
including |
6.70 |
12.60 |
5.90 |
20.06 |
|
97.50 |
108.70 |
11.20 |
5.76 |
C87-16 |
106.20 |
186.90 |
80.70 |
4.53 |
|
including |
108.00 |
128.40 |
20.40 |
7.83 |
|
including |
155.55 |
175.50 |
19.95 |
6.16 |
|
including |
157.00 |
169.50 |
11.50 |
7.11 |
C87-19 |
108.40 |
114.00 |
5.60 |
4.83 |
C87-21 |
91.80 |
102.00 |
10.20 |
3.02 |
C87-22 |
73.10 |
98.00 |
24.90 |
2.86 |
including |
86.40 |
98.00 |
11.60 |
3.85 |
C87-23 |
112.10 |
173.60 |
61.50 |
4.24 |
|
including |
112.10 |
118.80 |
6.70 |
12.11 |
|
including |
136.60 |
144.60 |
8.00 |
5.54 |
|
including |
158.80 |
170.65 |
11.85 |
5.51 |
C87-24 |
87.40 |
93.30 |
5.90 |
3.77 |
C87-25 |
177.60 |
196.00 |
18.40 |
10.03 |
|
including |
186.40 |
196.00 |
9.60 |
11.81 |
|
219.50 |
223.90 |
4.40 |
4.90 |
C87-26 |
141.65 |
146.80 |
5.15 |
4.03 |
C87-28 |
32.00 |
46.90 |
14.90 |
2.63 |
C87-30 |
19.90 |
23.60 |
3.70 |
9.97 |
* Lengths are reported as core
lengths. True widths are unknown at this time.
Cass Gold
Deposit
The Cass deposit represents a higher grade open pit mining
opportunity complimentary to Nighthawk's Colomac Gold Property,
which contains an Inferred Mineral Resource estimate of 39.815
million tonnes with an average grade of 1.64 g/t gold for 2.101
million ounces gold using a cut-off grade of 0.6 g/t gold (June 17,
2013 news release). The Kim and Cass gold deposits, which are
connected by road to Colomac located 20 kilometres to the
northeast, provide considerable exploration upside and unrealized
potential to significantly grow Nighthawk's resource base.
In the mid 1990's, Royal Oak Mines Inc. planned to develop the
Kim and Cass deposits as open pit operations and process the ore at
its Colomac Mill, however the company closed its Colomac operation
before achieving production from the deposits.
Figure 1. - 1986 Drill Hole Location Map at Cass (Historic
Results Released March 26, 2014):
http://media3.marketwire.com/docs/nhgfig1.jpg
Figure 2. - 1987 Drill Hole Location Map at Cass (Current
Release): http://media3.marketwire.com/docs/nhgfig2.jpg
Figure 3. - Cross Section of Hole C87-16 at Cass:
http://media3.marketwire.com/docs/nhgfig3.jpg
Nighthawk Gold
Corp.
Nighthawk is a Canadian-based exploration company focused on
acquiring and developing gold mineral properties in the Northwest
Territories. Its primary land position covers 229,791 acres or 930
square kilometres in the Indin Lake Gold Camp and includes an
Inferred Mineral Resource estimate of 39.815 million tonnes with an
average grade of 1.64 g/t gold for 2.101 million ounces gold using
a cut-off grade of 0.6 g/t gold.
The technical aspects of this press release have been reviewed
by Michael Byron, Ph.D., P.Geo., Chief Geologist and Director for
Nighthawk, who is the "Qualified Person" as defined by NI 43-101
for this project.
Forward-Looking
Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties, including, but not limited to, the
timing of future drilling, the expansion of the mineralization, and
the remediation of historic reclamation sites. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of
Nighthawk, including, but not limited to, the impact of general
economic conditions, industry conditions, volatility of commodity
prices, risks associated with the uncertainty of exploration
results and estimates, currency fluctuations, dependency upon
regulatory approvals, the uncertainty of obtaining additional
financing and exploration risk. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. This press release is not, and is not
to be construed in any way as, an offer to buy or sell securities
in the United States.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Nighthawk Gold Corp.David WileyPresident and CEO(647)
260-1247(416) 363-4567dwiley@nighthawkgold.com
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