TORONTO (AP) – Continued field work has resulted in the discovery of new areas of mineralization and the expansion of several strategic gold occurrences at the Nighthawk Gold Corp. owned Indin Lake Gold Property.
Located in Canada’s Northwest Territories, field activities were carried out between June and September, 2019, and included detailed bedrock mapping and sampling of several key target areas.
“Nighthawk acquired Colomac and consolidated approximately 95% of the Indin Lake Greenstone Belt, including all of its historical gold mines, deposits, and showings to execute on the enormous untapped potential of this land package,” Nighthawk Gold Corp. President and CEO Dr. Michael Byron said in a statement.
“Colomac is a unique brownfield asset with incredible promise that was largely overlooked until its affinity to one of the world’s richest gold deposits was recognized by Nighthawk in 2012,” Byron added.
The Indin Lake Greenstone Belt is home to several gold deposits and high-grade showings presenting a range of mineralization styles that are hosted in brittle regimes. These typomorphic features, being characteristic of most productive high-profile Archean gold camps, highlight the perspectivity of the Indin Lake Gold Camp and its capacity for major discoveries.
Nighthawk’s continued exploration success on its satellite targets supports the conviction that Colomac is not the only multi-million-ounce deposit in the camp. The many prominent regional targets provide a remarkable opportunity for growth and collectively strengthen the Company’s 100% controlled regional play centered on Colomac. Many of these targets are at an early exploration stage and require additional work to unlock their ultimate potential, which the Company intends to follow up on in future regional programs.
“As Colomac continues to progress and reveal its multi-million-ounce growth trajectory, the value of the fertile gold camp that it resides within also grows in prominence, and we control it all,” Byron said. “The Indin Lake camp resembles many of Canada’s prolific Archean gold camps except for its vastly unexplored state, and therein lies its value proposition; a juvenile gold camp with its full discovery potential yet to be realized,” Byron said.