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Nighthawk’s stock up after positive assays at NWT project

Winter drilling at Colomac, NWT. Image from Nighthawk Gold.

Nighthawk Gold (TSX: NHK) reported on Tuesday assay results for seven drill holes on the Colomac Main Sill, part of the Colomac gold project at its Indin Lake property in Canada’s Northwest Territories (NWT). 

A Zone 2 drill hole shows the continued widening of the mineralized portion of the sill to depth, where the true width has grown to more than 110 metres at vertical depths of 700 metres below surface, Nighthawk said in the press release.

Two holes drilled at the southern end of Zone 3.5 within a previous unexplored area have intersected shallow high-grade mineralization

This hole was drilled approximately 270 metres to the south of the deepest intersection at Zone 1.5, where drilling in 2017 showed a similar widening of the mineralized portion of the sill to 155 metres in true width.

The newly defined panel of mineralization, formed by the merger of high-grade Zone 1.5 with the northern part of Zone 2.0, has now been traced approximately 500 metres in strike with its narrowest width of 30 metres at shallow depths but expanding to upwards of 155 metres at 800 metres vertical depth where it remains open. 

Two holes drilled at the southern end of Zone 3.5 within a previous unexplored area, have intersected shallow high-grade mineralization outside and west of the quartz diorite portion of the sill. These intercepts represent a new style of Colomac mineralization that will need to be further explored in 2020. 

Highlights: 

  • C19-39B was drilled below previously reported hole C19-39 and intersected 110.50 metres (55 metre true width) of 1.89 grams per tonne gold, including 57 metres  of 2.37 gpt Au, and including 6.40 metres of 5.16 gpt Au, extending mineralization an additional 175 metres below C19-39. 
     
  • C19-39B intersected 205 metres of near continuous downhole mineralization generating a true width greater than 110 metres. Mineralization on this section spans from near surface to over 700 metres vertical depth where it remains open. 

At market close Tuesday, Nighthawk Gold’s stock was up over 9% on the TSX. The company has a C$93.4 million market capitalization.