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Nighthawk Gold Completes 2022 Exploration Program Drilling Ahead of Schedule
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Rhea-AI Summary
Nighthawk Gold Corp. (OTCQX: MIMZF) has announced the successful completion of its 2022 Exploration Program, achieving its drilling goals ahead of schedule and under budget. The company drilled a total of 40,085 meters aiming to expand known mineralization in the Northwest Territories, Canada. With 30,000 meters of assay results pending, Nighthawk is also conducting airborne surveys and baseline environmental work at the Colomac Centre for operating permits. CEO Keyvan Salehi expressed confidence in future exploration efforts, stating the company remains well-funded for its 2023 initiatives.
Positive
Completion of 2022 Exploration Program ahead of schedule and under budget.
Drilled 40,085 meters targeting mineral expansion.
Pending assay results for 30,000 meters could indicate further mineralization.
Currently conducting airborne surveys and environmental baseline work for permitting.
Well-funded for the 2023 exploration program.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to report the completion of its 2022 Exploration Program drilling ahead of schedule and under budget. The Company has drilled 40,085 metres (“m”) with the primary goal of expanding the near-surface known mineralization on its district-scale property in the Northwest Territories, Canada. Drill assay results are pending for approximately 30,000 m of drilling from the Colomac Centre area (Colomac Main, Grizzly Bear, and 24/27 Deposits) and the Kim and Cass Deposits. Nighthawk is currently conducting an airborne electromagnetic geophysical surveying of its district-scale property. The Company has also commenced baseline environmental work at the Colomac Centre as part of the work needed for its operating permits.
Keyvan Salehi, P.Eng. (Nighthawk President & CEO) commented, “We are pleased to complete this year’s drill season ahead of schedule, under budget, while maintaining the safety and security of our personnel at site without any lost time injuries. We are very pleased with the drill assay results received so far. We look forward to updating the markets on the pending assay results, once received and analyzed. We are also completing a geophysics program, which will provide us with important information that will guide our future exploration programs. Currently, we remain well-funded for next year’s exploration program.”
Qualified Person
John McBride, MSc., P.Geo., Vice President of Exploration for Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.
About Nighthawk
Nighthawk is a Canadian-based gold exploration company with 100% ownership of more than 930 km2 of district-scale land position within the Indin Lake Greenstone Gold Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. The Company is advancing several highly prospective exploration targets. The Colomac Centre and Satellite deposits currently has a Mineral Resource Estimate1 of 58.2 million tonnes grading 1.44 g/t Au for 2.69 million ounces in the Indicated category and 19.7 million tonnes grading 2.10 g/t Au for 1.33 million ounces in the Inferred category. Nighthawk’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards demonstrating the economic viability of its assets and rapidly advancing its projects towards a development decision.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the Company’s mineral resource estimates, potential expansion of pit-constrained mineralization, potential expansion of mineral resource estimates, the potential for higher-grade assay results, continued exploration and drilling initiatives, and being well-funded to complete these initiatives and for the 2023 exploration program, the prospectivity of exploration targets, the potential economic viability of the assets, and the advancement of projects towards a development decision. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can be”, “continue”, “demonstrating”, “estimates”, “encouraging”, “expand” or “expanding” or “expansion”, “expect” or “expectations”, “forecasts”, “forward”, “goal”, “increase”, “intends”, “justification”, “support”, “plans”, “potential” or “potentially”, “prospective”, “prioritize”, “reflects”, “scheduled”, “suggesting”, “updating”, “warrant”, “will be” or “will consider”, “work towards”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nighthawk to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, impact of inflation, impact of the war in Ukraine, risks associated with the COVID-19 pandemic, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Nighthawk’s annual information form for the year ended December 31, 2021, available on www.sedar.com. Although Nighthawk has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Nighthawk does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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1 For more information on the Mineral Resource Estimate (“2022 MRE”) please refer to the March 8, 2022 news release and in the Company’s NI 43-101 technical report entitled “NI 43-101 Technical Report and Update of the Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada” and dated March 31, 2022 (“Technical Report”), which is available on SEDAR www.sedar.com and on the Company’s website at www.nighthawkgold.com. John McBride, Vice President of Exploration of Nighthawk, who is the “Qualified Person” as defined by NI 43-101, has reviewed, and approved of the scientific and technical disclosure contained in this news release
Allan Candelario VP, Corporate Development and Investor Relations
Source: Nighthawk Gold Corp.
FAQ
What are the latest updates for Nighthawk Gold Corp. (MIMZF) in 2023?
Nighthawk Gold Corp. reported successful completion of its 2022 Exploration Program, with ongoing activities aimed at expanding mineralization in its Northwest Territories property.
How many meters did Nighthawk Gold drill in its recent exploration?
Nighthawk Gold completed drilling of 40,085 meters in its 2022 Exploration Program.
When can we expect assay results from Nighthawk Gold Corp. (MIMZF)?
Assay results are pending for approximately 30,000 meters of drilling from various deposits and will be released once analyzed.
Is Nighthawk Gold well-funded for future exploration?
Yes, Nighthawk Gold stated it is well-funded for its exploration program in 2023.
