Nighthawk Announces Results from Historical Drilling at Colomac
11 Décembre 2012 - 12:00PM
Marketwired Canada
Nighthawk Gold Corp. ("Nighthawk") (TSX VENTURE:NHK) reports assay results from
7 historic drill holes on its 100% owned Colomac Gold Property ("Colomac Gold
Project") in the Northwest Territories ("NWT"). The results from these holes are
now eligible to be included in an updated resource estimate.
Highlights:
-- Hole 97-13 intersected 81.99 metres of 1.81 grams per tonne ("g/t")
gold, including 34.44 metres of 3.35 g/t gold, and 8.53 metres of 4.55
g/t gold over;
-- Hole 97-09 intersected 52.12 metres of 2.78 g/t gold including 5.18
metres of 3.54 g/t gold and 6.10 metres of 12.93 g/t gold;
-- Hole 97-10 intersected 23.46 metres of 2.80 g/t gold including 7.62
metres of 6.54 g/t gold;
-- Hole 97-05 intersected 88.69 metres of 1.58 g/t gold including 10.98
metres of 5.13 g/t gold, and 5.79 metres of 5.20 g/t gold; and
-- Hole 97-06 intersected 42.07 metres of 1.77 g/t gold including 5.49
metres of 4.08 g/t gold, and 6.7 metres of 2.56 g/t gold.
In 1997, Royal Oak Mines Inc. ("Royal Oak") drilled 21 holes (7,884 metres) in
the Colomac sill testing Zone 3.5 mineralization to depth and laterally;
however, these holes were not included in Nighthawk's previously announced
resource estimate. In August 2012, Nighthawk carried out the necessary
re-logging and re-assaying of drill core to meet quality assurance and quality
control requirements ("QA/QC") on 20 holes from the 1997 drilling. The results
have validated the historic assays and confirmed the zone's high-grade nature
and continuity to depth.
The core from hole 3.5-97-001 was not located and therefore not validated.
However, historical intercepts for this hole, 40.23 metres of 8.98 g/t gold and
37.19 metres of 2.02 g/t gold, were obtained from previously unreleased Royal
Oak drill sections and are presented to show the consistency of Zone 3.5
mineralization.
The 7 holes in this release were drilled within the core of Zone 3.5 (see Figure
1) near Nighthawk's subvertical hole (C12-15) that intersected 203.4 metres of
2.49 g/t gold including 25.75 metres of 7.78 g/t gold (October 10, 2012, news
release). The remaining 13 validated holes were drilled to the north and south
of this area, and the results will be released as they are finalized.
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Zone 3.5 - Previously Unreleased 1997 Drill Results
----------------------------------------------------------------------------
From To Length Grade
Hole I.D. (m) (m) (m) g/t Au
----------------------------------------------------------------------------
3.5-97-05 167.34 256.03 88.69 1.58
Including 190.80 201.78 10.98 5.13
Including 190.80 193.24 2.44 13.37
Including 190.80 191.41 0.61 47.52
Including 231.65 237.44 5.79 5.20
Including 231.65 232.56 0.91 21.29
Including 236.83 237.44 0.61 14.40
----------------------------------------------------------------------------
3.5-97-06 146.61 146.91 0.30 9.65
179.83 230.73 50.90 1.55
Including 183.79 225.86 42.07 1.77
Including 185.01 190.50 5.49 4.08
Including 195.99 202.69 6.70 2.56
Including 210.01 211.84 1.83 2.72
Including 224.64 225.86 1.22 9.31
244.14 252.68 8.54 1.43
261.82 266.70 4.88 1.21
----------------------------------------------------------------------------
3.5-97-09 293.22 345.34 52.12 2.78
Including 301.14 306.32 5.18 3.54
Including 312.42 314.86 2.44 5.92
Including 336.80 342.90 6.10 12.93
Including 341.68 342.90 1.22 55.88
----------------------------------------------------------------------------
3.5-97-10 418.80 481.58 62.78 1.39
Including 418.80 442.26 23.46 2.80
Including 418.80 426.42 7.62 6.54
Including 418.80 419.71 0.91 13.40
Including 423.98 426.42 2.44 14.26
Including 423.98 425.20 1.22 19.06
503.53 515.42 11.89 1.91
Including 503.53 508.41 4.88 3.50
Including 507.19 508.41 1.22 8.61
544.07 544.98 0.91 8.95
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3.5-97-13 346.86 428.85 81.99 1.81
Including 352.96 387.40 34.44 3.35
Including 357.84 362.71 4.87 5.02
Including 367.59 376.12 8.53 4.55
Including 381.00 382.22 1.22 8.16
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3.5-97-14 231.34 233.48 2.14 4.00
279.81 300.53 20.72 1.61
Including 287.12 290.78 3.66 4.90
324.92 346.25 21.33 1.09
Including 331.01 346.25 15.24 1.31
----------------------------------------------------------------------------
3.5-97-16 162.15 197.51 35.36 1.16
Including 174.35 197.51 23.16 1.34
Including 193.85 197.51 3.66 3.94
225.86 226.77 0.91 4.35
----------------------------------------------------------------------------
(i) Lengths are reported as core lengths. True widths are unknown at this
time.
To view the "Figure 1. Drill Hole Location Map for Historic 1997 Drilling",
please visit the following link: http://media3.marketwire.com/docs/NHKfig.pdf.
Nighthawk has implemented a quality-control program to comply with best
practices in the sampling and analysis of drill core. Historic 1997 drill core
samples were transported in security-sealed bags for analyses at ALS Chemex
Assay Laboratory in Vancouver, BC ("ALS Chemex"). ALS Chemex is an ISO 9001:2000
certified laboratory. Pulp and metallics assaying for gold was conducted on the
entire pulverized sample.
As part of its QA/QC program, Nighthawk inserts external gold standards (low to
high grade) and blanks every 20 samples in addition to the standards, blanks and
pulp duplicates inserted by ALS Chemex.
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.
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, 2012,
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nighthawk Gold Corp.
David Wiley
President and CEO
(647) 260-1247
(416) 363-4567 (FAX)
dwiley@nighthawkgold.com
www.nighthawkgold.com
First Canadian Capital Corp.
Daniel Boase
Investor Relations
(416) 742-5600 ext 232
dboase@firstcanadiancapital.com
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