Nighthawk Drills Subvertical Hole at Colomac, Intersecting 203.4 Metres of 2.49 g/t Gold, Including 25.75 Metres of 7.78 g/t Go
10 Octobre 2012 - 1:00PM
PR Newswire (Canada)
TORONTO, Oct. 10, 2012 /CNW/ - Nighthawk Gold Corp. ("Nighthawk")
is pleased to report results from the final four drill holes
(Figure 2) of its summer 2012 drill program at its 100% owned
Colomac Gold Property ("Colomac Gold Project") in the Northwest
Territories ("NWT"). Hole C12-15 intersected 203.4 metres of 2.49
grams per tonne ("g/t") gold, including higher grade subintervals
of 69.35 metres of 4.12 g/t gold, 25.75 metres of 7.78 g/t gold and
33.85 metres of 3.03 g/t gold, confirming the Zone's consistency
and high grade character from surface to a vertical depth of 400
metres. The true width of the intrusion at Zone 3.5 is
approximately 80 metres. Hole C12-15, was drilled sub
vertically (-80 degrees) within the sill, and was collared to
explore for variations in mineralized quartz vein/stringer density
within Zone 3.5, a known higher grade gold zone, and to test grade
continuity. In penetrating from the hanging wall of the sill
through to its footwall (Figure 1), C12-15 intersected greater vein
densities and higher overall average grades, suggesting alternate
drill orientations may be warranted; however, additional work is
required to better understand what impact this might have on the
resource. A single deep hole drilled by Royal Oak Mines in
1997 intersected significant mineralization 1,000 metres beneath
Zone 3.5, effectively opening up the sill to depth and expanding
this higher grade system. Highlights: -- Zone 3.0 (2.0 kilometres
south of Zone 2.0) o Hole C12-14C intersected 6.75 metres of 13.24
g/t gold, including 1.10 metres of 80.13 g/t gold; -- Zone 3.5 (2.5
kilometres south of Zone 2.0) o Hole C12-15 intersected 203.40
metres of 2.49 g/t gold, including 69.35 metres of 4.12 g/t gold,
25.75 metres of 7.78 g/t gold and 13.25 metres of 11.48 g/t gold;
15.50 metres of 2.98 g/t gold, including 2.25 metres of 11.67 g/t
gold; 33.85 metres of 3.03 g/t gold, including 5.25 metres of 6.69
g/t gold, and 8.30 metres of 3.86 g/t gold; o Hole C12-15
intersected numerous veins/stringers within Zone 3.5. Reported
average grades (some returning bonanza grade intersections) are
significantly higher than those of previously drilled holes. o
Drilling at other orientations, in association with the predominant
east-west drill orientation employed to date, may result in a
significant improvement to the resource. Figure 1. C12-15 and
C12-5,5B Cross Section To view Figure 1 click here:
http://files.newswire.ca/1083/Figure1and2.pdf Cross Section of the
Differentiated Colomac Sill Zone 3.5 Nighthawk President and CEO,
David Wiley, commented, "The results of hole C12-15 provide a great
deal of information on the nature of the mineralization within Zone
3.5. Perhaps, most importantly, these results demonstrate the
high degree of consistency of mineralization and the cohesiveness
of the higher grade gold shoots. Hole C12-15, drilled outside
of the current 43-101 resource area, concludes our 2012 drilling
program where every completed drill hole intersected gold
mineralization. We are now performing an in-depth analysis of
the results of our 2012 drilling program and are in the process of
forming our strategy for the upcoming winter 2013 drill program at
Indin Lake." Exploration Results Between March 19, 2012 and August
21, 2012, two drills completed 30 holes (11,235 metres) all of
which intersected gold mineralization (see also news releases on
June 20, 2012, August 20, 2012, and September 19, 2012). Nighthawk
drilling to date has focused on a 2.5 kilometre section between
Zones 2.0 and 3.5 located midway along the sill's 7 kilometre
strike length. Sectional drilling has confirmed continuity of
mineralization up to 200 metres below the current resource and
identified new areas of bonanza grade mineralization. Higher grade
gold shoots have been confirmed at four areas along the sill
(beneath Zones 2.0, 2.5, 3.0, and 3.5), all of which remain open to
depth and laterally. Discoveries to date are indicative of the
potential for the presence of similar mineralized gold shoots
within the intrusion. Results from the final four holes of
the summer 2012 drill program are detailed in Table 1 below. Table
1. 2012 Drill Results - Zones 3.0 and 3.5 Hole I.D. From To Core
Length Grade Gold (m) (m) (m) (g/t Au) Zones C12-14 201.00 203.00
2.00 1.17 3.0 213.55 235.00 21.45 1.16 including 213.55 226.25
12.70 1.65 including 217.30 222.00 5.20 2.66 including 231.25
235.00 3.75 1.00 C12-14B Abandoned 3.0 C12-14C 254.60 255.45 0.85
2.89 3.0 273.20 275.45 2.25 0.67 284.25 288.00 3.75 0.78 299.25
306.00 6.75 13.24 including 301.90 303.00 1.10 80.13 including
301.90 302.40 0.50 174.00 378.25 379.00 0.75 21.40 C12-15 121.50
122.25 0.75 6.24 3.5 131.60 335.00 203.40 2.49 including 133.15
202.5 69.35 4.12 including 156.50 158.75 2.25 8.65 including 176.75
202.50 25.75 7.78 including 178.25 179.00 0.75 14.75 including
186.25 187.75 1.50 8.21 including 189.25 202.50 13.25 11.48
including 190.75 195.25 4.50 18.85 including 190.75 192.25 1.50
51.31 including 201.75 202.50 0.75 70.70 including 231.00 235.40
4.40 3.53 including 231.00 231.75 0.75 9.27 including 257.75 273.25
15.50 2.98 including 260.00 262.25 2.25 11.67 including 266.15
266.90 0.75 7.26 including 296.85 330.70 33.85 3.03 including
302.75 305.00 2.25 7.17 including 308.75 314.00 5.25 6.69 including
312.50 313.25 0.75 18.50 including 322.40 330.70 8.30 3.86
including 322.40 324.65 2.25 9.47 368.75 374.45 5.70 1.21 Figure 2.
2012 Drill Hole Location Map To view Figure 2 click here:
http://files.newswire.ca/1083/Figure1and2.pdf Further Information
Nighthawk is currently compiling and reviewing all results to date
in preparation for a winter 2013 drill program. Detailed structural
studies on Zone 2.0 in the late 1980's describe, with some
uncertainty, the presence of a stockwork style of mineralization
consisting of a dominant vein set with secondary
veins/stringers. It was also noted that better grades are
localized within areas of pronounced quartz veining and
silicification. Given that similar structural analyses were
not conducted on Zone 3.5, and consensus is lacking regarding
controls on mineralization throughout the intrusion, Nighthawk's
last hole (C12-15) of the current program was drilled perpendicular
to all other holes at Zone 3.5. C12-15 targeted a portion of
the intrusion previously drilled by holes C12-05 (1.67 g/t gold
over 56.25 metres; June 20, 2012 news release) and C12-05B (1.66
g/t gold over 54.75 metres; August 30, 2012 news release) to
determine if varying the direction of drilling would result in an
increase in the number of veins/stringers intersected, and a
corresponding improved grade. Nighthawk Gold Corp. Nighthawk is a
Canadian-based exploration company focused on acquiring and
developing gold mineral properties in the NWT. Its land
position covers 222,203 acres or 900 square kilometres in the Indin
Lake Gold Camp, located approximately 220 kilometres north of
Yellowknife, NWT. The technical aspects of this press release have
been reviewed by Michael Byron, Ph.D., P.Geol., Chief Geologist and
Director for Nighthawk, who is the "Qualified Person" as defined by
NI 43-101 for this project. Neither the 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 news release. Forward-Looking
Information This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, information with respect to future exploration targets
and better defining the current mineral resources at the Colomac
Gold Project. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"does not anticipate", or "believes" or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might", or "will be taken", "occur", or "be
achieved". Forward-looking information is based on the opinions and
estimates of management at the date the information is made, and is
based on a number of assumptions and is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Nighthawk to be materially different from those expressed or
implied by such forward-looking information, including risks
associated with the exploration, development and mining such as
economic factors as they effect exploration, future commodity
prices, changes in foreign exchange and interest rates, actual
results of current exploration activities, government regulation,
political or economic developments, environmental risks, permitting
timelines, capital expenditures, operating or technical
difficulties in connection with development activities, employee
relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of reserves, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in Nighthawk's management discussion
and analysis for the year ended July 31, 2011, available on
www.sedar.com. Although Nighthawk has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Nighthawk does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws. SOURCE
Nighthawk Gold Corp. PDF available at:
http://stream1.newswire.ca/media/2012/10/10/20121010_C5494_DOC_EN_19071.pdf
Nighthawk Gold Corp. CONTACT: David Wiley, President and CEO
Nighthawk Gold Corp. (647) 260-1247(416) 363-4567 (FAX)Email:
dwiley@nighthawkgold.comDaniel Boase, Investor RelationsFirst
Canadian Capital Corp.(416) 742-5600 ext 232Email:
dboase@firstcanadiancapital.com
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