CAPITAL MARKETS

Nighthawk closes $12M financing

Nighthawk Gold Corp has about C$17 million in the bank to step up exploration at Colomac on the Indin Lake Greenstone Belt in Canada’s Northwest Territories after raising $12 million via an over-subscribed non-brokered private placement.

Staff reporter
Indin Lake area in Canada's Northwest Territories

Indin Lake area in Canada's Northwest Territories

Colomac has more than two million ounces in indicated and inferred resources (at a circa 2gpt average grade) and sees "near-term resource expansion opportunities exist proximal to the current resources, and additional upside throughout the plus-7km strike length of the host quartz diorite".

CEO Michael Byron said the funds enabled Nighthawk to finish this year's drilling and expand its 2021 program, with a number of "high-priority targets" over the Indin Lake property.

"We expect to receive drill results on some of these targets in the near term," Byron said.

 

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