Highlights at Colomac's Zone 1.5 included 58.5m grading 1.93 grams per tonne and 6.25m grading 12.08g/t at Treasure Island.

"We consider Treasure Island as one of our key regional prospects and given that its extensive broad mineralised envelope hosts internal higher-grade domains, we believe that we are well on our way to realising a first-class asset to compliment Colomac," said president and CEO Dr Michael Byron.

Nighthawk has now reported 47 drill holes for Colomac representing 17,101m of the 2019 drilling to-date. All have intersected mineralisation.

Treasure Island is 11km north of Colomac and drilling has defined the system as being upwards of 200m wide and 700m long. Nineteen holes for 5,814m have been drilled in 2019 with assays yet to be published for 17 of them.

The company expects to complete a minimum of 35,000m of drilling on Colomac and regional targets this year as it aims to increase the mineral resources at Colomac to more than 3 million ounces.

Shares in Nighthawk Gold (TSX:NHK) are trading at C63¢, valuing the company at $149 million.