Nighthawk Gold (TSX: NHK) has released the results of nine holes completed last year at the Treasure Island gold project, located within its 899-sq.-km Indin Lake property in the Northwest Territories.
The drill highlights include 13 metres of 8.51 grams gold per tonne and 7 metres of 6.35 grams gold.
All of the 19 holes completed at Treasure Island last year intersected mineralization. Drilling to date has traced gold mineralization over a 750-metre long section of a regional contact, which lies within the eastern portion of a 7-km long underexplored prospective corridor. This mineralization, which is up to 200 metres wide, remains open on strike.
"Treasure Island is one of our key satellite prospects proximal to Colomac, and given its extensive broad mineralized envelope hosting internal higher-grade domains, and grossly unexplored status, we believe it has exceptional discovery potential and capability to grow significantly," Michael Byron, the company's president and CEO, says in a press release.
Treasure Island is located 11 km north of the Colomac deposit. Nighthawk intends to continue exploring for near-surface gold deposits at Indin Lake and views the Treasure Island zone as a potential source of higher-grade feed for a future mining operation.
Nighthawk is currently finalizing the details of its fully-funded exploration program for the year.
Current resources at Colomac stand at 50.3 million tonnes grading 1.62 grams gold for a total of 2.6 million ounces. Colomac is a past-producing open pit.