Nighthawk Reports 24.4% Increase to 2.61 Million Inferred Ounces of Gold at Colomac
TORONTO, June 13, 2018 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report an updated Inferred Mineral Resource estimate, of 50.305 million tonnes with an average grade of 1.62 grams per tonne gold ("gpt Au") for 2.613 million ounces of gold (see Table 1) for its 100% owned Colomac Gold Project ("Colomac"), Northwest Territories, Canada. The resource estimate was prepared by CSA Global Canada Geosciences Ltd. (CSA Global), Toronto, Ontario, in accordance with National Instrument 43-101 ("NI 43-101").
2018 Mineral Resource Estimate
The mineral resource estimate was prepared by CSA Global, Toronto, Ontario, in accordance with NI 43-101 and has been reviewed internally by the Company. The full technical report will be available on SEDAR within 45 days of the date of this release. All resources have been assigned to the inferred category due to the historic nature of a significant portion of the data and the need for additional verification work. Mined volumes of the Colomac Main Sill have been deleted from the current resource model.
Resources were defined using an updated block cut-off grade of 0.70 gpt Au for the Colomac and Goldcrest deposits, and a 0.60 gpt Au cut off was retained for the Grizzly Bear, 24 and 27 deposits. The current resource estimate is based on 1,088 drill holes totaling 141,013 metres (913 historical drill holes totaling 85,178 metres, and 175 drill holes totaling 55,835 metres completed by Nighthawk between 2012 and 2017, see Table 3).