NORTHWEST TERRITORIES – Nighthawk Gold Corp. of Toronto has filed an updated mineral resource report for its Colomac gold project on the Indin Lake property. The Colomac mine operated between 1990 and 1992 and again from 1994 to 1997. A total of about 500,000 oz. of gold was produced.
The Colomac exploration camp in the Northwest Territories. (Image: Waychison, Nighthawk Gold Corp.)
Nighthawk’s latest inferred resource estimate includes the North, Central and South zones at the Colomac main sill (containing 2.55 million oz. of gold) and the North and Main zones at the Goldcrest sill (174,000 oz.) plus the unchanged grizzly Bear, 24 and 27 targets that were not recalculated for the latest 43-101 report.
All together the Indin Lake property hosts 50.3 million inferred tonnes averaging 1.62 g/t gold and containing 2.6 million oz. of gold.
Nighthawk says it has $26.1 million of cash in its treasury that will fund work for the next 24 months. The next steps at Colomac include at least 25,000 metres of drilling both to explore for more high grade zones and to provide infill information. Additional metallurgical tests are planned for material from both the Colomac and Goldcrest sills.
Further information is posted at www.NighthawkGold.com.