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Nighthawk shares take flight on Goldcrest sill results

Canadian explorer Nighthawk Gold says all seven follow-up drill holes on the Goldcrest sill, about 400m west of the Colomac Main sill, have intersected high-grade gold.
Nighthawk shares take flight on Goldcrest sill results Nighthawk shares take flight on Goldcrest sill results Nighthawk shares take flight on Goldcrest sill results Nighthawk shares take flight on Goldcrest sill results Nighthawk shares take flight on Goldcrest sill results

Nighthawk Gold shares gained on Wednesday on good exploration results from the Goldcrest sill at its Indin Lake project, NWT

Staff Reporter

Part of the company's Indin Lake property, in the Northwest Territories about 200km north of the capital Yellowknife, the company said it had drilled 2,190m to follow up on areas identified during its three previous drill campaigns and to target resource expansion opportunities in the southern section of the Goldcrest property.

Highlights intersections include 68.5m (8m true width) of 2 grams per tonne gold from 17.5m downhole depth, including 15.5m of 5.47g/t and 4.3m grading 16.98g/t gold in hole C19-05. Similarly, hole G19-01 returned highlight intercepts including 13.55m at 0.89g/t from 154.2m below surface and 10m of 1.02g/t from 312.5m.

CEO Michael Byron said the Goldcrest sill was like Colomac Main, except it had been drilled significantly less and had a shorter strike length of 2.5km, compared with the 9km strike length of Colomac Main.

"Goldcrest was last drilled in 2017 and several key areas remain unexplored as illustrated by the high-grade intercept in hole C19-05. This hole was drilled within a previously untested section of the sill tracing strong continuity of mineralisation to depth," he said.

"We continue to encounter robust mineralisation throughout the Colomac area sills, which reinforces our belief that with continued exploration, new discoveries and ongoing expansion of known zones will follow."

The Colomac project currently hosts an inferred resource of 50.3 million tonnes grading 1.62g/t gold for 2.6Moz.

Shares in the company (TSX:NHK) rose 14% to $2.50, taking the 12-month gain to 33%. The company has a market capitalisation of C$109 million (US$82 million).