Nighthawk Intersects 52.07 Metres of 7.72 g/t Gold (Uncut) and 31.45 Metres of 4.14 g/t Gold (Uncut) at Colomac - Supports Continuity and Expansion Potential of High-Grade Zone

TORONTO, ONTARIO--(- Sep 13, 2016) - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX VENTURE:NHK) is pleased to announce initial results from its ongoing 2016 drill program on its Indin Lake Gold Property in the Northwest Territories ("NWT") (Figure 1 / Table 1). In July 2016, the Company launched a 10,000 metre program (see July 5, 2016 news release) to advance delineation of the recently discovered high-grade gold mineralization at Zone 1.5 and to resume exploration for additional higher-grade domains, with the objective of expanding our current resource. Two drills are actively testing priority targets at both the Colomac and Goldcrest deposits. Results from 5 drillholes at Colomac Zone 1.5 are presented below.

"We are extremely encouraged with our drilling at Colomac's Zone 1.5. We have not only proven that distinct higher grade domains clearly exist at Colomac, but that they can be sizable bodies of relatively predictable geometry and great continuity. Subsequent holes will further refine our understanding and help target new opportunities as we continue to advance this multi-million ounce*, underexplored deposit," said Dr. Michael Byron, President and CEO. "It's also important to note that we are still in the early stages of exploration at Colomac, and that even after completion of this summer's drilling, we will have drilled less than 25,000 metres on the deposit since its acquisition. Our summer drill program will be completed by late September followed by a winter 2017 drill program in mid-February, leading to a possible resource update by mid 2017," commented Dr. Michael Byron.

 

Highlights: Colomac - Zone 1.5 (uncut gold assays reported):

 

Hole C16-03 intersected 52.07 metres (40 metres true width) of 7.72 g/t gold, including 25.47 metres of 14.25 g/t gold, and including 12.35 metres of 9.58 g/t gold;

Hole C16-01 intersected 31.45 metres (25 metres true width) of 4.14 g/t gold, including 13.75 metres of 6.52 g/t gold;

Hole C16-01B intersected 39.60 metres (32 metres true width) of 2.38 g/t gold, including 6.65 metres of 4.76 g/t gold, and including 2.75 metres of 10.09 g/t gold;

Drilling continues to reinforce the growth potential of high-grade Zone 1.5 laterally and to depth by building upon Nighthawk's 2014 and 2015 drill results where hole C14-06 (initial discovery hole) intersected 52.50 metres of 7.78 g/t gold, including 21.00 metres of 16.73 g/t gold (see December 3, 2014 news release), and C15-14B returned 32.95 metres of 4.19 g/t gold, including 12.33 metres of 7.77 g/t gold (Figure 2 / see October 26, 2015 news release);

Zone 1.5 is now in excess of 100 metres along strike, traced to a vertical depth of over 200 metres and remains open.

Results announced today are from five holes laid out to better define Zone 1.5 dimensions and to test for continuity along strike and to depth. Drillholes C16-01 and 01B were collared 25 metres south of C15-05 and 05B (Figure 1), two holes drilled in 2015 as step-outs from the initial 2014 discovery hole C14-06. Both holes intersected significant mineralization over widths typical of Zone 1.5 mineralization indicating that the zone extends southward as C16-01 returned 4.14 g/t gold over 31.45 metres, and C16-01B 39.60 metres of 2.38 g/t gold (Figure 3). 

Holes C16-02 and 02B were step-out holes 25 metres south of C16-01 and 01B. Although mineralization was intersected by both holes, it was weaker and over narrower widths, suggesting the high-grade portion of Zone 1.5 was not intersected, and that the southern boundary of this north plunging mineralized shoot may lie between the sections drilled by C16-01 and C16-02.

 

Hole C16-03 was drilled 75 metres north of C16-01 on the same section as C15-06 (Figure 1), a 2015 hole that extended the zone northward by intersecting 31.20 metres of 3.89 g/t gold, including 22.50 metres of 5.03 g/t gold, and including 5.75 metres of 10.43 g/t gold (see October 26, 2015 news release). C16-03 was laid out to test the upward projection of mineralization cut by C15-06. At 100 metres vertical depth and 65 metres above the C15-06 intersection, C16-03 intersected 52.07 metres of 7.72 g/t gold, including 25.47 metres of 14.25 g/t gold, and including 12.35 metres of 9.58 g/t gold (Figure 4). As one of the best holes ever reported at Colomac, C16-03 also illustrates the zone's strong internal continuity as high-grade mineralization has now been traced to over 200 metres vertical depth on this section.