Nighthawk Expands Colomac's High-Grade Zone 1.5 an Additional 250 Metres to Depth and Triples its True Width

 

TORONTO, Sept. 18, 2017 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZF) is pleased to report assay results for nine holes from its wholly owned Colomac Gold Project located within its Indin Lake Gold Property, the Northwest Territories, Canada.

As the 2017 exploration program nears completion, drilling continues to expand high-grade gold Zone 1.5, and confirms the presence of strong mineralization within the gap between Zone 1.5 and its neighbouring Zone 2.0 to the south (see Table 1; Figures 1 to 4).Amalgamation of these two zones would outline a domain of continuous gold mineralization from surface to 600 metres at depth and upwards of 400 metres in strike and remains open. Latest drilling to depth has delivered a three-fold expansion of the mineralized true width of Zone 1.5 over previously reported shallower intercepts. This magnitude of increase opens vast new areas of the sill for exploration.Just over 13,000 metres of the 26,000 metre program have now been reported with all holes intersecting gold mineralization.

Colomac Drilling Highlights:

Zone 1.5

• Hole C17-15B intersected 77.85 metres of 1.99 gpt Au (44.00 metres true width), including 9.80 metres of 4.19 gpt Au, and 4.95 metres of 7.50 gpt Au. Hole C17-15C intersected 235.05 metres of 0.99 gpt Au (88.00 metres true width), including 29.05 metres of 1.43 gpt Au, and a separate 13.25 metres of 2.06 gpt Au, extending Zone 1.5 an additional 200 metres to depth beyond previous drill intercepts;
  
  
• Hole C17-15C, the steepest of three holes drilled on this section, intersected mineralization at depth over a 155 metre true width, a three-fold increase in true width over previous reported widths of up to 50 metres in shallower drilling;
  
  
• A 40^o rake to the higher-grade portion of the zone was previously modeled (see press release dated August 24, 2017) outlining the orientation of the high-grade mineralization to depth. C17-15 series holes appear to have tracked behind the plunge of the high-grade mineralized core, instead intersecting lower grade material to depth but over greatly expanded true widths, opening vast new areas of the sill for exploration;
  
  
• Current drilling has expanded Zone 1.5 by an additional 250 metres to a vertical depth of 600 metres, true width up to 155 metres, and tracked continuous mineralization for upwards of 400 metres along strike by linking Zone 1.5 to the northern section of Zone 2.0. The continued expansion of Zone 1.5 remains a focus.

Zone 2.0

• Hole C17-11B intersected 104.10 metres of 1.58 gpt Au (50.00 metres true width), including 24.60 metres of 3.56 gpt Au and 5.65 metres of 7.46 gpt Au. Hole C17-11 intersected 82.65 metres of 0.93 gpt Au (45.00 metres true width), including 9.60 metres of 2.32 gpt Au, and a separate 6.30 metres of 3.27 gpt Au. Hole C17-11C intersected 78.60 metres of 0.89 gpt Au (24.00 metres true width), including 39.90 metres of 1.13 gpt Au, and 6.60 metres of 2.36 gpt Au;
  
  
• Holes C17-11, C17-11B, and C17-11C intersected broad zones of continuous gold mineralization to new depths below Zone 2.0 and have continued infilling the resource gap between Zone 2.0 and Zone 1.5, supporting the unification of the zones into a much larger mineralized domain over 400 m in strike and open.
  
  
  Note: All assays are uncut (see Table 1)

Dr. Michael Byron, President and CEO commented, "Broad intercepts of continuous gold mineralization continue to be a dominant characteristic of the Colomac deposit. High-grade zones like Zone 1.5 develop in regions of the sill where disruption (fracturing) of the host rock is greatest, providing an optimized depositional environment for gold.Given the massive mineralized state of the sill, it's not surprising that sites representing enhanced fluid pathways for mineralization may host higher-grade domains. The identification and drilling of these targets remains our focus at Colomac.

"Today's results confirm that Zone 1.5 continues uninterrupted to depth, as it has been extended another 250 metres to 600 metres vertical where its true width is over 150 metres.This represents an astonishing three-fold increase relative to widths at shallower levels. Recent drilling has also established the linkage between Zone 1.5 and the northern portion of Zone 2.0, where continuous mineralization has been traced more than 400 metres in strike.The continued expansion of this part of the sill offers exciting new opportunities for discovery of additional high-grade shoots. Results to date have highlighted the robust and pervasive nature of Colomac mineralization as well as its capacity to host distinct higher-grade gold zones.

"Nighthawk remains committed to pursuing these opportunities in conjunction with our efforts in advancing our many exciting regional deposits and prospects that showcase the Indin Lake area as a burgeoning Gold Camp."

Table 1. Colomac Drill Results (uncut)

Colomac Zone 1.5

Holes C17-13 and 13B were laid out to test a disrupted portion of the sill that marks the southern boundary of the high-grade core to Zone 1.5 with the northern region of Zone 2.0 (Figure 1). The lack of mineralized intercepts is believed to be due to the tight faulting that marks this translational structure.High-grade zones like Zone 1.5 may lie immediately lateral to these structural offsets in the sills, thus representing priority drill targets.

Hole C17-14 was collared to address an open area in the sill below hole C17-07, and between C17-07 and 07B (see press release dated July 13, 2017). It successfully infilled the void returning 16.65 metres of 1.35 gpt Au, including 5.25 metres of 2.44 gpt Au, with a lower downhole intercept of 31.25 metres of 1.21 gpt Au, including 6.70 metres of 3.63 gpt Au.The trajectory of the hole suggests it intersected the sill just below the northeast plunging higher grade core to the zone.

Three holes were drilled from a common setup to test the north-central area of Zone 1.5 to depth (Figure 1).Holes C17-15, 15B, and 15C all returned sizable intercepts with C17-15C, the steepest hole, returning a continuous cut of 235.05 metres grading 0.99 gpt Au, with separate internal intercepts of 13.25 metres of 2.06 gpt Au, and 7.75 metres of 2.35 gpt Au.Figure 3 shows the trace of the hole in extending the zone to new depths; a massive 250 metre vertical extension to 600 metres (Figure 4), as well as tripling the zone's true width from 50 metres to 155 metres.Additional work is needed in this area to better understand the cause of this scaler change in mineralized true width, but such a dramatic increase could be due to features disrupting the sill, which is also believed to be the key factor in high-grade zone development.

Although continuous mineralization was traced to great depth, higher-grade intercepts typical of the core of Zone 1.5 are lacking, and can be best explained that the hole traversed the area west and behind the higher-grade plunging core of the zone.The two other C17-15 series holes were drilled at shallower dips and appear to have clipped areas closer to, yet behind, the zone's plunging higher grade central corridor, as seen by hole C17-15B intercepts of 77.85 metres of 1.99 gpt Au, including 9.80 metres of 4.19 gpt Au, and including 4.95 metres of 7.50 gpt Au, with a deeper cut of 7.25 metres of 5.40 gpt Au.

Over the course of the 2017 program, drilling has delivered a 100% success rate in intersecting gold mineralization at Colomac, and accordingly in expanding mineralization along strike, over new widths, and to new depths. There can be little doubt in the vitality of the gold system in place, and accordingly, in the discoveries that await as the Company continues to advance its aggressive exploration strategies for Colomac and its many regional assets.

Colomac Zone 2.0

Holes C17-11, 11B, and 11C were drilled 50 metres south of C17-10 and 10B (Figure 1, see press release dated August 24, 2017), to continue exploring the possible merger of Zone 1.5 with the northern portion of Zone 2.0 into a much larger mineralized domain, and to search for additional high-grade shoots. All three C17-11 series holes intersected broad zones of gold mineralization (Figure 2), including new regions below the Zone 2.0 open pit to a vertical depth of 475 metres; confirming that mineralization continues uninterrupted to depth and that continuity between Zone 2.0 and Zone 1.5 exists for more than 400 metres in strike and open (Figure 4).The middle hole, C17-11B, returned the best intercept of 104.10 metres of 1.58 gpt Au, including 24.60 metres of 3.56 gpt Au, 14.85 metres of 4.80 gpt Au.

Drilling within the gap continues to support the presence of broad and laterally continuous regions of gold mineralization across the boundary between Zone 1.5 and Zone 2.0, linking them into a much larger domain hosting internal high-grade shoots.This area remains a priority target given its dimensions and localized high-grade intercepts.

Technical Information

Nighthawk has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core.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.

About Nighthawk

Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district scale land position within the Indin Lake Greenstone Belt, located approximately 200 kilometres north of Yellowknife, Northwest Territories, Canada. Nighthawk is focused on advancing the Colomac Gold Project with a current inferred resource of 2.1 million ounces of gold (39.8 million tonnes at an average grade of 1.64 grams per tonne), as well as advancing its other regional gold deposits and showings within this Archean gold camp.

The Company has an experienced and dedicated team and is well funded to complete its goals and objectives over the next 18-24 months.

Qualified Person

Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer of Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release. Please refer to NI 43-101 technical report "Technical Report and mineral resource estimate update on the Colomac Property of the Indin Lake Project", dated June 17, 2013, as filed under the company's profile on www.sedar.com.

Neither the Toronto Stock Exchange has neither reviewed nor 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 the Company's drilling program, exploration plans, and the timing and results thereof. 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 annual information form for the year ended December 31, 2016, 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.

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