Nighthawk Gold Corp. - MIMZF STOCK NEWS

Nighthawk Gold Corp. has released a preliminary economic assessment (PEA) for its Colomac Gold Project, indicating substantial potential with a C$1.2 billion after-tax net present value (NPV5%) at a gold price of US$1,600/oz, and C$2.0 billion at US$2,000/oz. The project is expected to produce an average of 290,000 ounces of gold annually over an 11.2-year mine life, peaking at 340,000 ounces in Year 2. Initial capital expenditures are estimated at C$654 million. Approximately 60% of the project's infrastructure will be powered by renewable energy sources, targeting a carbon intensity of 0.48 tonnes CO2e per ounce produced. Nighthawk emphasizes the potential for further resource expansion on its 930 km² landholding. However, the PEA is preliminary, relying on inferred mineral resources, which may not guarantee future economic viability.

Nighthawk Gold Corp. (TSX: NHK; OTCQX: MIMZF) has announced its 2023 exploration and environmental programs at its district-scale property in Northwest Territories, Canada. The company has filed a Technical Report for its updated Mineral Resource Estimate (2023 MRE) for the Colomac Gold Project, which indicates significant expansion potential with a focus on high-grade satellite deposits. Nighthawk plans to drill between 20,000 and 25,000 metres and is prioritizing environmental baseline studies for permitting. The project comprises approximately 70.4 million tonnes grading 1.50 g/t Au for 3.39 million ounces in the Indicated category.