Nighthawk drills 14.75 m of 6.91 g/t Au at Damoti
NIGHTHAWK GOLD Corp. has released drill results from 17 holes (5,140 metres) at its 100-percent-owned Damoti Lake gold project, Northwest Territories. Drilling focused on exploring outside of the main deposit, to test several new geological targets within the host Horseshoe and Red Mountain synclines. The program successfully infilled and extended mineralized zones in both areas, intersecting additional near surface as well as deeper mineralization, and highlighting new exploration opportunities within the northern portions of the synclines.
Highlights of drilling Horseshoe zone:
• D18-02 intersected 6.95 metres of 10.12 grams per tonne gold, including 4.20 m of 15.81 g/t Au; 2.50 m of 8.97 g/t Au, including 1.00 m of 19.36 g/t Au.
• D18-02B intersected 9.35 m of 4.34 g/t Au, including 2.60 m of 11.59 g/t Au; 5.75 m of 9.78 g/t Au, including 3.50 m of 15.85 g/t Au.
• D18-07 intersected 23.65 m of 1.54 g/t Au, including 3.30 m of 4.24 g/t Au, and 1.20 m of 9.05 g/t Au; 11.25 m of 2.18 g/t Au, including 3.00 m of 4.55 g/t Au.
• D18-07B intersected 14.75 m of 6.91 g/t Au, including 4.25 m of 15.28 g/t Au; 9.50 m of 2.61 g/t Au, including 4.00 m of 3.50 g/t Au. Red Mountain zone:
• D18-06 intersected 8.65 m of 1.89 g/t Au, including 1.50 m of 6.14 g/t Au.
• D18-06B intersected 4.25 m of 3.31 g/t Au, including 1.25 m of 10.22 g/t Au; 5.25 m of 2.46 g/t Au, including 1.25 m of 7.94 g/t Au.
• The D18-06 and D-18-06B intercepts represent a new discovery at Red Mountain that remains open in all dimensions. Highlights of the Damoti Lake gold deposit:
• Small high-grade near-surface deposit with resource expansion potential;
• Existing underground ramp developed into the high-grade core of Horseshoe;
• High-grade satellite deposit that could augment future Colomac gold development scenario;
• Damoti embodies the remarkable opportunities that Nighthawk’s many other regional assets represent, and which collectively strengthen the company’s 100-per-c ent -con trol led regional play centered on Colomac, a multimillion-ounce deposit with significant growth possibilities.
Note: All assays are uncut.
Dr. Michael Byron, president and chief executive officer, commented: “While Nighthawk has not drilled Damoti since 2010, we were eager to resume activities as it represents a unique highgrade, near-surface deposit, one that we consider of great value as potential feed to augment possible future Colomac mine development. Damoti also supports our belief that similar high-grade opportunities exist throughout the Indin Lake gold camp. The consolidation of this camp, including all of its many deposits and showings, gives us control of its vast yet underexplored potential.
“Our 2009 and 2010 drill programs were mainly directed at validating and expanding the main deposit, while the 2018 drilling was aimed at testing geological exploration targets outside the main body, in search of new growth opportunities. Additional drilling and exploration work will be contingent upon the incorporation of all drill results to date into an expanded geological model to assist in target generation and resource evaluation.”
Damoti Lake gold deposit
The Damoti Lake deposit lies 28 kilometres south of the Colomac gold project.
A small historical highgrade, near-surface deposit was previously defined showing excellent expansion potential (see press release dated Nov. 17, 2005, for Anaconda Gold Corp.). In 2005, Anaconda commissioned an independent, National Instrument 43-101-compliant resource estimate on the de---
posit. Two pre-NI 43-101 resource estimates are referenced in the 2005 technical report, suggesting the potential for a larger lowergrade deposit (see press release dated April 9, 2009).
Nighthawk intends to expand on this potential as it considers Damoti an important satellite deposit that also has a ramp developed into its core, which could provide possible high-grade feed for any future development opportunity at the company’s flagship asset, Colomac.
We seek Safe Harbor.
Karen Baxter condensed this news release ([email protected]watch.com).
Michael James Byron, Ernest Larry Eves, Brian Michael Howlett, Luc Lessard, Brent James Peters, Morris J Prychidny
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