Nighthawk cuts 0.5m of 125 g/t gold at Cass

Nighthawk Gold Corp. Aug. 8 announced assay results from drilling at Cass, one of four satellite targets contributing to the mineral resource estimate for the Indin Lake gold project in Northwest Territories, Canada.

The 930-square-kilometer (359 square miles) Indin Lake property covers the northern end of the West Bay-Indin Lake fault zone, a regional structure that extends 125 miles (200 kilometers) south to the Giant and Con mines near Yellowknife, NWT. The historical Colomac mine that produced 527,908 ounces of gold lies at the heart of the Indin Lake property.

Nighthawk envisions a modern mining operation at Indin Lake with a central mill that would process ore from Colomac, which continues to host the largest resources on the property, as well as satellite deposits.

According to the latest calculation, Colomac Centre hosts 59.8 million metric tons of open pit indicated resource averaging 1.45 grams per metric ton (2.8 million oz) gold and 10.73 million metric tons of open pit inferred resource averaging 2.32 g/t (802,000 oz) gold; plus 10.49 million metric tons of underground indicated resource averaging 1.73 g/t (584,000 oz) gold and 13.53 million metric tons of underground inferred resource averaging 2.05 g/t (899,000 oz) gold.

Recently, Nighthawk announced a preliminary economic assessment detailing a robust mine that would produce 3.26 million ounces of gold over an 11.2-year period.

This gold mine included an expansion of Colomac Centre and a maiden resource for four satellite deposits across the wider Indin Lake property – Kim, Cass, Treasure Island, and Damoti – of which host 24.3 million metric tons of inferred resource averaging 2.17 g/t (1.69 million oz) gold.

Considering the recent assays from the Cass and nearby Albatross Zone targets, these numbers may grow again before production begins.

"The results from the Cass deposit drilling continue to deliver higher-grade mineralization," said Nighthawk Gold President and CEO Keyvan Salehi. "We tested the potential extensions of known mineralization and intersected high-grade, near-surface mineralization to the northeast, in an area on the other side of a fault structure where there was no data. The deposit remains open in all directions and warrant follow-up drilling."

Located roughly 15 kilometers (9.3 miles) southwest of Colomac Centre, Cass is characterized by higher-grade, near-surface mineralization. Completing approximately 5,442 meters of drilling to test new mineralized zones parallel and along strike from the primary Cass deposit.

Highlights from this first batch of assays from the 2023 drilling include:

• One meter averaging 16.8 g/t gold from a depth of 154.5 meters in CM23-04.

• One meter averaging 2.24 g/t gold from 149.5 meters in CM23-06.

• 13 meters averaging 2.48 g/t gold from 359.5 meters in CM23-09.

• 17.5 meters averaging 1.9 g/t gold from 317 meters in CM23-11.

• 0.5 meters averaging 7 g/t gold from 218.5 meters in CM23-12.

• 0.5 meters averaging 125 g/t gold from 223 meters in CM23-14.

Chosen based on a new geological interpretation and structural model, as well as historical trenching and soil anomalies, drill holes CM23-09 and CM23-11 confirmed the extension of mineralization along strike of a parallel intrusion to the northwest of Cass.

Drill hole CM23-06 confirmed continuity of mineralization between the Cass deposit's estimated pit-shell bottom (which was part of the Colomac Gold project PEA) and deeper drill hole intercepts.

Drill holes CM23-12 and CM23-14 intercepted narrow high-grade mineralization in a previously untested area between the main Cass deposit pit shell and the smaller pit shell to the east.

The company says these mineralized intercepts confirm that mineralization and the host geology continue across structural boundaries identified in the new structural model.

Coarse gold was observed in nine of the 19 drill holes.

In addition to its focus on expanding Cass, Nighthawk also targeted the Albatross Zone, a grassroots exploration target to the west of Cass.

Historical, widely spaced drilling over a 4.6-kilometer (2.9 miles) trend confirmed the extension of Cass mineralization at narrower widths.

Completing 1,974 meters of drilling at Albatross Zone, this drilling confirmed the geology, which included veining and coarse gold showings. However, more structural mapping and surface work are required to understand the potential of this zone.

Assays from Albatross Zone include:

• 0.75 meters averaging 1.69 g/t gold from a depth of 33.75 meters in hole A23-02.

• One meter averaging 1.26 g/t gold from 169.5 meters in A23-07.

• One meter averaging 1.68 g/t gold from 67.5 meters in A23-09.

Nighthawk says these zones have the potential to significantly expand the open-pit mineralization at the deposit.

Aiming for 20,000- to 25,000 meters, with further targeting of other satellites such as Damoti as well as the 24/27 target within the Colomac Centre Area, Nighthawk has completed roughly 7,500 meters so far this year.