Nighthawk Drills 6.55 Metres of 16.65 g/t Gold and 50.15 Metres of 1.87 g/t Gold, including 14.6 Metres of 5.03 g/t Gold at Colomac; Discovers Additional Higher Grade Gold Shoot
TORONTO, Sept. 19, 2012 /CNW/ - Nighthawk Gold Corp. ("Nighthawk") (TSX Venture: NHK) is pleased to report assay results from six recently completed drill holes, all of which intersected gold mineralization, on its 100% owned Colomac Gold Property ("Colomac Gold Project") in the Northwest Territories ("NWT"). Drilling targeted and intersected the northward extension of Zone 3.5 (see August 20, 2012 release), and discovered a higher grade gold shoot plunging to depth beneath Zone 3.0. Drill results have also verified the broadening of Zone 3.5 to the north, which now appears to merge with Zone 3.0. Nighthawk's repeated discovery and recognition of the association between distinct higher grade plunging gold shoots within more extensive and broadly mineralized zones opens up widespread resource expansion opportunities at the Colomac Gold Project.
- Zone 3.0 (2.0 kilometres south of Zone 2.0)
- Hole C12-12 intersected 26.50 metres of 2.07 grams per tonne ("g/t") gold, including 20.25 metres of 2.66 g/t gold and 6.00 metres of 7.13 g/t gold;
- Hole C12-12B intersected 6.55 metres of 16.65 grams per tonne gold, including 1.95 metres of 54.64 g/t gold;
- Above intersections represent Nighthawk's latest discovery of a fourth higher grade plunging gold shoot;
- Zone 3.5 (2.5 kilometres south of Zone 2.0)
- Hole C12-13 intersected 52.30 metres of 1.12 g/t gold, including 31.50 metres of 1.50 g/t gold and 6.10 metres of 4.64 g/t gold;
- Hole C12-13B intersected 50.15 metres of 1.87 g/t gold, including 22.75 metres of 3.43 g/t gold and 10.20 metres of 6.25 g/t gold;
- Zones 3.5 and 3.0 may merge forming a larger mineralized domain with internal, distinctly separate, higher grade mineralized shoots; and
- Newly recognized association of higher grade plunging shoots within more extensive mineralized zones (Zones 2.0, 2.5, 3.0, and 3.5) opens up significant resource growth opportunities along the sill's 7 kilometre strike length.
The 2012 drilling program ran from March 19 to August 21, with two drills completing 30 holes (11,235 metres). Although the current resource model shows consistent gold mineralization along the sill's 7 kilometre strike length, drilling was focused on a 2.5 kilometre section between Zones 2.0 and 3.5. Sectional drilling tested depths up to 200 metres below the current resource. Assays from the initial eight holes of the program, were released on June 20, 2012, and an additional twelve holes were reported on August 20, 2012. Results are pending for the remaining four holes.
Within the Colomac sill, drilling continues to confirm the presence of higher grade gold shoots, all of which remain open to depth and laterally. The four shoots discovered to date (beneath Zones 2.0, 2.5, 3.0, and 3.5) indicate the potential for similar mineralized gold shoots along the intrusion's 7 kilometre strike length.
Nighthawk is currently compiling and reviewing all results to date in preparation for a winter 2013 drill program.
Table 1. 2012 Drill Results - Zones 3.0 and 3.5
* Lengths are reported as core lengths. True widths are unknown at this time.
Figure 1. 2012 Drill Hole Location Map
To View Figure 1 click here: http://files.newswire.ca/1083/Fig1DrillHole.pdf
Nighthawk's summer 2012 prospecting program was completed on September 11. Prospecting teams covered much of the company's Indin Lake property concentrating on priority target areas. Results are currently being evaluated.
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.
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.For further information:
David Wiley, President and CEO
Nighthawk Gold Corp.
(416) 363-4567 (FAX)
Daniel Boase, Investor Relations
First Canadian Capital Corp.
(416) 742-5600 ext 232