Michael Byron, the president and CEO of Nighthawk Gold (TSXV: NHK; US-OTC: MIMZF) didn’t know a heck of a lot about the Indin Lake area of Canada’s Northwest Territories when he first set foot there in 2009, but he immediately liked what he saw.
The greenstone belt, about 200 km north of Yellowknife, is the same age and has many of the same styles of mineralization as the Timmins camp in Ontario. Yet unlike Timmins and Canada’s other established Archean gold camps, Indin Lake has seen little exploration — except for brief periods in the 1950s, the late 1980s, and the early 1990s.
So Byron, who has a PhD in geology, started consolidating the best gold assets in the camp through staking and acquisition. Today, Nighthawk has a regional land play that controls over 90% of the belt.
The big break came in 2012, when Nighthawk got its hands on Colomac — a gold deposit previously mined by Royal Oak Mines that produced just over 500,000 oz. gold from a shallow open-pit operation.
Read the entire story at The Northern Miner.