Nighthawk - 128 M of 1.36 g/t Au - Älteste Beiträge zuerst

[goldwiebloed]

Nighthawk Reports Broad Mineralized Envelopes at Colomac Gold Project with Internal Higher Grade Shoots Including 128 M of 1.36 g/t Au, Containing 71.85 M of 2.04 g/t Au and 8.65 M of 6.83 g/t Au

June 20, 2012

Toronto, Ontario, June 20, 2012 – Nighthawk Gold Corp. (“Nighthawk”) (TSX Venture: NHK) is pleased to report drill results of the initial eight holes from its winter program at its 100% owned Colomac property (“Colomac Gold Project”) in the Northwest Territories (“NWT”). Two diamond drills were mobilized to site and drilling commenced March 19 on two priority areas. These results confirm the presence of broad mineralized envelopes at the Colomac Gold Project with internal higher grade gold shoots, which provide a favorable indication that shallow, bulk mineable methods may be used.


Highlights:


Zone 2.0

Hole C12-001B intersected 128 metres of 1.36 grams per tonne (“g/t”) gold, including 71.85 metres of 2.04 g/t gold, 46.15 metres of 2.81 g/t gold, and 8.65 metres of 6.83 g/t gold (vertical depths of intersection between 230 metres to 340 metres);


Drilling has identified a new higher grade shoot beneath the Zone 2.0 pit that remains open at depth. The possibility for additional shoots exists along the intrusion’s 7 kilometre strike length, representing a potential resource not previously identified or explored;


Zone 3.5

Hole C12-005, drilled over 2 kilometres south of C12-001B, intersected 56.25 metres of 1.67 g/t gold, including 16.50 metres of 3.37 g/t gold and 7.50 metres of 5.25 g/t gold (vertical depths of intersection between 125 metres to 190 metres); and


Hole C12-005 likely defines the southern margin of the previously identified higher grade shoot plunging to depth (70 degrees) within Zone 3.5.


All holes intersected gold mineraliztion with five of eight reported holes from Zone 2.0, the Colomac Gold Project’s largest known deposit. The remaining three holes are from Zone 3.5, a higher grade gold zone located over 2 kilometres south within the host Colomac intrusion. The drilling objectives were expanding the known resource by testing the reported higher grade mineralization within Zone 3.5, and exploring for a possible higher grade mineralized shoot below the main pit at Zone 2.0. The reported results are for the initial 3,690 metres of drilling from the total 11,000 metre drill program planned for 2012, which is expected to be completed by late summer.


Nighthawk President and CEO, David Wiley, commented, “We are pleased to report Nighthawk’s first set of drill results for 2012. The widths of these intersections exceeded our expectations and confirmed the depth extension of the gold mineralization at Zones 2.0 and 3.5 within the existing pit. These broad mineralized envelopes also contain higher grade gold shoots. The shallow nature of the gold mineralization we have intersected through our current drill program is a favorable indication that shallow, bulk mineable methods may be used; however, given the higher grade shoots, exploitation of this material could also potentially occur using underground methods.”


Summer 2012 Drilling Program


The summer drill program at the Colomac Gold Project began on May 15 with two drills continuing the program of resource expansion and exploring for higher grade gold shoots. By the end of this program, Nighthawk will have drilled approximately 11,000 metres in 2012. Targeting is largely driven by the current resource model that shows a relatively consistent, yet shallow, band of gold mineralization along the intrusion’s entire 7 kilometre strike length. It also shows several areas that host higher grades over significant widths in multiple drillhole intersections. Of these, Zones 3.0, 2.5, and 1.5 have been flagged as potential mineralized shoots and will be tested along strike and down plunge in this program. Drilling will also focus on expanding Zone 3.5 along strike below the current resource model, potentially linking it to Zones 3.0 and 2.5 to the north.


Winter 2012 Drilling Results


Comprehensive drill results for the first eight holes are reported in Table 1 below. A drill hole location map is provided in Figure 1 below. Cross sections and strip logs for holes C12-001B and C12-005 are depicted below in Figures 2 and 3, respectively.


Table 1. 2012 Winter Drill Results – Zones 2.0 and 3.5 at Colomac Gold Project



Hole I.D.


From (m)


To (m)


Core Length (m)


g/t Au

C12-001


237.65


308.25


70.60


0.64

Including


237.65


255.75


18.10


1.34

Including


248.35


255.75


7.40


2.57

Including


249.85


251.35


1.50


8.65

Including


291.90


297.25


5.35


1.43

C12-001B


293.00


421.00


128.00


1.36

Including


293.00


379.50


86.50


1.80

Including


306.65


377.50


71.85


2.04

Including


315.60


361.75


46.15


2.81

Including


315.60


324.25


8.65


6.83

Including


315.60


318.30


2.70


16.43

Including


358.25


361.75


3.50


13.13

C12-002


359.05


364.30


5.25


0.59




378.55


390.80


12.25


0.35




406.80


410.80


4.00


0.71




422.80


438.80


16.00


0.77

including


430.80


438.80


8.00


1.18

C12-002B


431.95


455.40


23.45


1.58

Including


431.95


435.15


3.20


4.92

Including


434.40


435.15


0.75


20.50

Including


441.90


455.40


13.50


1.57

Including


449.40


451.65


2.25


6.52




506.95


548.35


41.40


0.52

Including


519.95


548.35


28.40


0.65

C12-003


286.50


399.85


113.35


0.70

Including


286.50


292.00


5.50


1.29

Including


319.50


399.85


80.35


0.83

Including


327.75


331.50


3.75


2.34

Including


375.50


399.85


24.35


1.50

C12-004


27.60


30.00


2.40


31.20

Including


27.60


28.05


0.45


164.50




173.50


193.35


19.85


0.50

Including


172.75


175.00


2.25


1.34




210.40


215.25


4.85


1.54

Including


214.10


215.25


1.15


5.90

C12-004B


204.00


235.75


31.75


0.69

Including


204.00


217.75


13.75


1.06

Including


209.50


213.25


3.75


2.40

Including


232.75


235.75


3.00


1.29




249.25


259.75


10.50


0.58

Including


249.25


250.75


1.50


1.90




346.00


347.00


1.00


2.60

C12-005


197.50


253.75


56.25


1.67

Including


197.50


214.00


16.50


3.37

Including


204.25


211.75


7.50


5.25

Including


209.50


211.75


2.25


8.47

Including


225.25


253.75


28.50


1.16

Including


230.50


232.75


2.25


6.10

* Lengths are reported as core lengths. True widths are unknown at this time.



Figure 1 – 2012 Winter Drill Hole Location Map



Figure 2 – Hole C12-001B Cross Section and Strip Log







Figure 3 – Hole C12-005 Cross Section and Strip Log





Zone 2.0


The Colomac Gold Project’s largest historical open pit, developed at Zone 2.0, was the site of most of the previous gold production. Located approximately midpoint along the 7 kilometre long intrusion, here the sill reaches its maximum width in excess of 100 metres. Zone 2.0 also accounts for a significant portion of the current Colomac Gold Project NI 43-101 Inferred Mineral Resource estimate of 42.65 million tonnes with an average grade of 1.05 g/t gold for 1.446 million ounces gold (the “Resource Estimate“) and a block cut-off grade of 0.6 g/t gold. Three east-west drill sections (5 holes) were completed over a strike length of 200 metres testing the extension of the current resource at depth and to the north. Given the plunging higher grade gold shoot previously identified at Zone 3.5, the possibility also exists for the discovery of other shoots along the length of the intrusion. Zone 2.0 is a prospective region to explore for such an opportunity.


Two holes were drilled from the northern most setup (C12-001 and C12-001B in Zone 2.0). An intersection of 128 metres at 1.36 g/t gold, including 86.50 metres of 1.80 g/t gold, 71.85 metres of 2.04 g/t gold, 46.15 metres of 2.81 g/t gold and 8.65 metres of 6.83 g/t gold, clearly demonstrates the intrusion’s capacity to host significant grades over large widths. Hole C12-003, located 100 metres south of C12-001B, intersected 80.35 metres of 0.83 g/t gold, including 24.35 metres of 1.51 g/t gold. Two holes were drilled from the southernmost setup of which C12-002B, located 100 metres south of C12-003, intersected 23.45 metres of 1.58 g/t gold. From the southernmost setup (C12-002B) to the northern most (C12-001B), drill intersections show a progressive increase in mineralized widths (23.45 metres to 80.35 metres to 128.0 m) and composite grades x lengths (37.05 to 79.35 to 174.08). These observations suggest a gold shoot plunging 70 degrees northward is present; this plunge geometry matches that of most other known mineralized systems within the Indin Lake Gold Camp.


Exploration drilling has confirmed the presence of a higher grade shoot plunging beneath the Zone 2.0 pit that remains open at depth. This new discovery demonstrates the potential for the presence of other similar mineralized shoots along the intrusion’s 7 kilometre strike length. Distinct higher grade, steeply plunging, gold shoots represent a new resource opportunity not previously identified or explored.


Zone 3.5


Current drilling has confirmed the plunging mineralized shoot within Zone 3.5 discovered by Royal Oak Mines in 1997. Three holes were drilled on two sections spaced 50 metres apart to intersect the mineralization, better define its geometry, and extend it along strike and at depth. All holes intersected mineralization, highlighted by hole C12-005 reporting 56.25 metres of 1.67 g/t gold, including 16.50 metres of 3.37 g/t gold and 7.50 metres of 5.25 g/t gold. C12-005 was drilled from the northern most setup and is believed to have intersected the southern edge of the north plunging shoot. Holes C12-004 and C12-004B, drilled from the second setup to the south of C12-005, are thought to have intersected areas underneath the better mineralized shoot. Hole C12-004 is of particular interest as it intersected mineralized quartz veining within mafic volcanic rocks immediately adjacent and east of the intrusion returning 31.20 g/t gold over 2.40 metres. The mineralization was encountered at a downhole depth of 27.60 metres, roughly 100 metres east of the Colomac intrusion. Subsequent drilling along strike encountered the same structurally controlled mineralization, highlighting this new high-grade gold system as a priority opportunity, and one that has never before been recognized in the area. It has yet to be established whether the mineralization is related to the remobilization of gold from the intrusion into favorable structural settings within the adjacent volcanic rocks, or if it’s related to a different event. Additional prospecting is planned to investigate the existence of surface occurrences. Follow-up drilling in the area will be contingent upon this work.


Colomac Sill


Historic drill logs describe the Colomac intrusion as having a quartz-feldspar-porphyry (QFP) component, as well as a quartz diorite phase. Detailed historical surface outcrop mapping shows an unrestricted distribution of the two rock types. To provide some clarification, detailed lithogeochemical sampling of holes from the current program was undertaken to help better understand the intrusion, gold distribution, and possible alteration. Results indicate that the Colomac intrusion is best described as a sill whose top is to the east. Gold is preferentially located within the upper two thirds of the sill restricted to domains enriched in silica. The same association was observed in all the holes drilled to date. This geometry indicates that all winter 2012 holes were drilled from the top of the sill to its base and westward terminating in underlying mafic volcanic rocks. Trace element analyses on samples taken throughout the sill show progressive increases and decreases in abundance, suggesting a fractionation process occurred as evidenced by the highly constrained slopes of trace element profiles throughout the transition from top to base within the sill, with abrupt breaks across major lithological contacts. This is best explained as a fractionation process that gave rise to a differentiated sill.


Colomac is a differentiated sill of intermediate to mafic composition (tonalite–trondhjemite) with a fine to medium grained felsic to intermediate upper portion and a medium to coarse grained mafic base. Gold is concentrated within the silica rich upper portion of the sill which behaved in a brittle manner during regional structural deformation providing depositional sites for gold. This is in contrast to the ductile behavior of the lower portion of the sill and the surrounding mafic volcanic rocks. These observations will be used to help identify and target better mineralized areas within the sill, ultimately helping to streamline the ongoing exploration program.


Differentiated intrusions are known to contain large gold deposits. One of the world’s largest, Kalgoorlie, is hosted by an intrusion similar to Colomac. Kalgoorlie lies within the Eastern Goldfields of Western Australia with production in excess of 50 million ounces of gold to date. Both the Kalgoorlie and Colomac deposits are hosted by a fractionated mafic intrusion cutting dominantly mafic volcanic packages. Both intrusions occur in similar age rocks, have similar strike lengths, and have been subjected to similar styles and intensities of deformation and alteration. Furthermore, both contain gold preferentially concentrated within the more silica-rich upper portions. At Kalgoorlie, occurrences of higher grade gold are localized where mineralized structures converge. This is one of the opportunities currently being pursued at Colomac as Nighthawk believes the higher grade plunging shoots are a function of regional structures intersecting the sill.


About the Colomac Gold Project


The Colomac Gold Project lies within the central portion of Nighthawk’s 222,203 acre Indin Lake Gold Property, 220 kilometres northwest of Yellowknife, NWT. Access is by winter road from Yellowknife or year round by chartered aircraft to a 1,500 metre airstrip at the former Colomac Gold Mine site. Nighthawk has consolidated a contiguous land position surrounding the Colomac Gold Project which includes more than 90% of the Indin Lake Greenstone Belt. The Colomac Gold Project contains at least five separate gold deposits (Colomac, Grizzly Bear, Goldcrest, Dyke Lake, and 24/27), that remain open in all dimensions, but only the Colomac Deposit was ever mined.


From 1990 to1997 three shallow open pits were developed along a 2 kilometre section of the steeply dipping intrusion, thereby only a small portion of its 7 kilometre mineralized strike length was impacted. Production was reported to be 527,908 oz gold with an average head grade of 1.66 g/t gold. On February 22, 2012, Nighthawk reported an initial NI 43-101 Inferred Mineral Resource estimate to be 42.65 million tonnes with an average grade 1.05 g/t gold for 1.446 million ounces gold and a block cut-off grade of 0.6 g/t gold. The Resource Estimate utilizes historical diamond drilling results from approximately 896 holes, most of which were completed between 1987 and 1997.


Nighthawk Gold Corp.


Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the NWT. Its land position covers 222,203 acres or 900 square kilometres in the Indin Lake Gold Camp, located approximately 220 kilometres north of Yellowknife, NWT.


The technical aspects of this press release have been reviewed by Michael Byron, Ph.D., P.Geol., Chief Geologist and Director for Nighthawk, who is the “Qualified Person” as defined by NI 43-101 for this project.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.



For more information, please contact:

David Wiley, President and CEO


Daniel Boase, Investor Relations
Nighthawk Gold Corp. First Canadian Capital Corp.
[phone] [phone] ext 232
[phone] (FAX) Email: [e-mail]
Email: [e-mail]

Quelle: http://www.nighthawkgold.com/nighthawk-reports-broad-mineral…

[goldwiebloed]

Am 21.3.2012 hatten sie noch $12.2 Million über Private Placement
eingesammelt.

[goldwiebloed]

Gutes Timing der News, da Stücke aus dem Flow Through Placement frei werden.

[goldwiebloed]

"...issued 28,302,400 units (the “Units“) at a price of $0.33 per Unit and 7,185,000 flow-through shares (“FT Shares“) at a price of $0.40 per FT Share for aggregate gross proceeds of $12,213,792..."

[goldwiebloed]

Share Information (as of June 18, 2012)

Common Shares Outstanding

123,920,989

Warrants – $0.14 (September 2012 expiry)

16,747,267

Warrants – $0.35 (March 2013 expiry or if Nighthawk’s shares trade at or above $0.50 per share for 21 consecutive trading days, Nighthawk may then accelerate the expiry date upon not less than 30 days written notice)

7,325,000

Warrants – $0.35 (July 2013 expiry)

3,000,000

Warrants – $0.50 (September 2013 expiry or if Nighthawk’s shares trade at a volume weighted average price at or above $0.75 per share for 10 consecutive trading days, Nighthawk may then accelerate the expiry date upon not less than 30 days written notice)

14,151,200

Broker Warrants – $0.40 (September 2013 expiry)

2,129,244

Options ($0.15 to $0.35)

7,745,000

Shares Fully Diluted

175,018,700

[goldwiebloed]

Aktuelle Präsentation:

http://www.nighthawkgold.com/wp-content/uploads/Nighthawk-In…

[goldwiebloed]

Analyst von Fraser Mac meint:

"Nighthawk Gold (NHK-TSXV
.22)

Strong Buy
Target Price: $1.80
Market Cap (Basic): $27.2 million

June 20, 2012

SALES 416.955.0198 TRADING 416.955.0388

Quick Links

NHK Note - June 20
More About Us

Demonstrating High Grade Shoots at Colomac

EVENT

Nighthawk Gold (formerly Merc International Minerals (TSXV:MRK)) announced assay results from its Colomac property in the Northwest Territories.

Highlights include (see map):

o Zone 2 - Hole C12-001B: 1.36 g/tonne gold over 128 metres, including 2.04 g/t gold over 71.85 metres, 2.81 g/t gold over 46.15 metres, and 6.83 g/t gold over 8.65 metres

o Zone 3 - Hole C12-005: 1.67 g/t gold over 56.25 metres, including 3.37 g/t gold over 16.50 metres and 5.25 g/t gold over 7.50 metres.

Summer drilling program

Two drills have been operating on site since May with the goal of expanding the resource and exploring for high grade gold shoots. 11,000 metres of drilling are budgeted for 2012. The company will test Zones 3.0, 2.5, and 1.5 along strike and down plunge and will seek to expand Zones 3.5 along strike and below the current resource model. It will also try to link it to Zones 3.0 and 2.5.

Zone 2.0

Through drilling the company suggests that the shoot is plunging 70 degree northward, which matches most other known mineralization systems at Indin Lake Gold. The company has also identified higher grade shoots that plunges below the Zone 2.0 pit and remains open at depth, which it says could represent a new resource opportunity.

Zone 3.5

The company confirmed a plunging mineralized shoot within Zone 3.5 that was previously discovered by Royal Oak Mines. The company followed up the drilling along strike and encountered the same structurally controlled mineralization. It plans to follow up drilling after surface work to confirm this new high grade gold system.

DISCUSSION & RECOMMENDATION

This current phase of drilling is confirming results by previous operators and demonstrating the existence of high grade shoots within the broader mineralised corridor which occurs on a frequent and periodic basis. These shoots will serve the company well in lifting the grade of the overall resource and improving future economics.

We expect confirmatory drilling to increase the average grade at Colomac over time. We believe that just the Colomac claim group has the near term potential for a doubling of this current resource, to about 3 million potential ounces of gold, while the balance of the Indin Lake claim group has the potential to demonstrate 1.5 million ounces over the same time frame.

We continue to be highly encouraged by this company's prospects. We remind investors that this brownfield site has proven itself very adequately in both its ability to build robust resources and to produce at over 100,000 per annum on a regular basis.

We reiterate our Strong Buy and target price of $1.80 per share which is based off of 3.7 million ounces attributed to the company."

[hbg55]

Antwort auf Beitrag Nr.: 43.406.581 von goldwiebloed am 20.07.12 11:01:31

moin gwb,

nun ja......so wirklich freude konnte seither bei den anlegern jedoch noch
NICHT aufkommen, wie uns nachfolg. chartbild aufzeigt...........






SK am vergangenen freitag.......cad 0,18

[hbg55]

Antwort auf Beitrag Nr.: 43.691.812 von hbg55 am 09.10.12 07:36:05

....ABER nach gestr. PR hellt sich die stimmung auf........


Nighthawk Drills Subvertical Hole at Colomac, Intersecting 203.4 Metres of 2.49 g/t Gold, Including 25.75 Metres of 7.78 g/t Gold; Confirms High Grade Core within Zone 3.5

TORONTO, ONTARIO--(Marketwire - Oct. 10, 2012) - Nighthawk Gold Corp. ("Nighthawk") (TSX VENTURE:NHK) is pleased to report results from the final four drill holes (Figure 2) of its summer 2012 drill program at its 100% owned Colomac Gold Property ("Colomac Gold Project") in the Northwest Territories ("NWT"). Hole C12-15 intersected 203.4 metres of 2.49 grams per tonne ("g/t") gold, including higher grade subintervals of 69.35 metres of 4.12 g/t gold, 25.75 metres of 7.78 g/t gold and 33.85 metres of 3.03 g/t gold, confirming the Zone's consistency and high grade character from surface to a vertical depth of 400 metres. The true width of the intrusion at Zone 3.5 is approximately 80 metres. Hole C12-15, was drilled sub vertically (-80 degrees) within the sill, and was collared to explore for variations in mineralized quartz vein/stringer density within Zone 3.5, a known higher grade gold zone, and to test grade continuity. In penetrating from the hanging wall of the sill through to its footwall (Figure 1), C12-15 intersected greater vein densities and higher overall average grades, suggesting alternate drill orientations may be warranted; however, additional work is required to better understand what impact this might have on the resource. A single deep hole drilled by Royal Oak Mines in 1997 intersected significant mineralization 1,000 metres beneath Zone 3.5, effectively opening up the sill to depth and expanding this higher grade system.

Highlights:.............


http://tmx.quotemedia.com/article.php?newsid=54909311&qm_sym…

[hbg55]

RT......cad 0,165