Nighthawk Gold’s (TSXV: NHK; US-OTC: MIMZF) Colomac deposit was previously mined by Royal Oak Mines and produced just over 500,000 oz of gold from a shallow open pit operation. The deposit is situated on Nighthawk’s 100%-owned Indin Lake gold property in the Northwest Territories. Indin Lake lies within a greenstone belt 200 km north of Yellowknife that is the same age and has many of the same mineralization styles as the Timmins camp in Ontario. Unlike Timmins and Canada’s other established Archean gold camps, however, the Indin Lake area has seen little exploration, with the exception of brief periods in the 1950s, the late 1980s, and the early 1990s.
President and CEO Michael Byron describes Colomac as a unique deposit in terms of the typical mineralization styles found in Archean gold camps. The host rock is a differentiated mafic intrusion with gold preferentially located in the silica-rich upper part of the sill, and Byron, who has a PhD in geology, believes it shares many similarities to the Kalgoorlie gold camp of eastern Australia, including hosting high grade domains of significant size.
In November, Nighthawk completed a $10.1 million non-brokered private placement that included a strategic investment by Kinross Gold (TSX: K; NYSE: KGC). Kinross now holds about 9.5% of Nighthawk’s issued and outstanding shares on an undiluted basis. Byron recently spoke to The Northern Miner‘s Trish Saywell about the project.
Read the interview at The Northern Miner.