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EYEBROW

29 September 2017
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Exploration / Development > Resource-definition

Nighthawk intersects 152m at 2.47g/t gold

Nighthawk Gold (CN:NHK) says it has drilled one of the “best holes ever” at its Colomac gold project in Canada’s Northwest Territories, as it establishes an blueprint to generate more exploration targets ahead of a resource update early next year.

Staff reporter

Exploration / Development > Resource-definition

Nighthawk intersects 152m at 2.47g/t gold

Nighthawk Gold (CN:NHK) says it has drilled one of the “best holes ever” at its Colomac gold project in Canada’s Northwest Territories, as it establishes an blueprint to generate more exploration targets ahead of a resource update early next year.

Staff reporter

Nighthawk intersects 152m at 2.47g/t gold

Further drilling success at Colomac ahead of resource update

Hole C17-28 intersected several regions of continuous mineralisation over its entire 780.1m downhole length, with 152m at 2.47g/t gold (uncut), including 34.7m at 4.27g/t; and 185m at 1.13g/t.

"In confirming our model for the zone's internal higher-grade core, and successfully tracking its continuous mineralisation to great depth, we are quickly developing a blueprint for exploration that we are confident will lead to other exciting discoveries," president and CEO Michael Byron said.

The company has a flow-through expenditure commitment of C$10.4 million for exploration at its Indin Lake property to be completed by the end of 2018.

Colomac has a current inferred resource of 2.1 million ounces with an average grade of 1.64g/t gold.

Shares in the company, which graduated to the TSX in May and had working $27.6 million cash at the end of September, rose 9.68% yesterday to C68c, capitalising it over $128 million.

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