Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) has released a significantly updated Mineral Resource Estimate (MRE) on its 100%-owned, district-scale Indin Lake Gold Property in the Northwest Territories of Canada.
The 2022 MRE demonstrates a substantial expansion in pit-constrained (OP) mineralisation compared to the estimates reported in 2021 and the potential for a future large-scale, higher-grade, open-pit project in the district.
Highlights:
- 2022 MRE demonstrates a significant increase in potential OP Mineral Resource ounces.
- OP Indicated mineral resource estimates increased 121% to 2,062,400 gold ounces compared to the 2021 Estimate of 933,400 gold ounces, reflecting a decrease in the estimated average grade to 1.38 grams per tonne gold (g/t Au) as compared to 1.62 g/t Au for the 2021 Estimate
- OP Inferred mineral resource estimates increased 1,400% to 601,000 gold ounces compared to the 2021 Estimate of 40,100 gold ounces, reflecting an increase in the estimated average grade to 2.39 g/t Au as compared to 1.68 g/t Au for the 2021 Estimate
- 2022 MRE demonstrates a significant increase in the Global (potential OP + Underground “UG”) Mineral Resource ounces:
- Global Indicated mineral resource estimates increased 19% to 2,687,100 gold ounces compared to the 2021 Estimateof 2,249,100 gold ounces, reflecting a decrease in the estimated average grade to 1.44 g/t Au as compared to 1.81 g/t Au for the 2021 Estimate
- Global Inferred mineral resource estimates increased 69% to 1,330,500 gold ounces compared to the 2021 Estimateof 786,100 gold ounces, reflecting a slight decrease in the estimated average grade to 2.10 g/t Au as compared to 2.13 g/t Au for the 2021 Estimate
- 2022 Exploration Programme: The company plans to commence drilling in May and is currently mobilising supplies and preparing the site for drilling. Drilling will prioritise the higher-grade targets including Kim & Cass, Damoti, and Treasure Island and will consider other grassroots opportunities.
“We are extremely pleased with the results of the updated 2022 MRE, which exceeded our own expectations,” President and CEO, Keyvan Salehi, said.
“The shift in our strategy early last year towards higher-grade, pit-constrained mineralisation, combined with a much more accelerated and aggressive approach towards exploration, have resulted in a significant expansion in the OP mineral resource estimates at our property.
“We have successfully increased our OP mineral resource estimates to approximately 2.1 million ounces in the Indicated category and 0.6 million ounces in the Inferred category.
“After evaluating all the data and working towards a future conceptual mine plan, we believe that the scalability of the project to a potentially robust, large open-pit operation, far outweighs the marginal decrease in overall OP grades compared to the 2021 Estimate.
“With just over 72,000 metres of drilling completed last year, our current evaluations and consideration of the project benefit tremendously from the extensive information received from our 2021 drill campaign.
“We are particularly excited about the contributions of higher-grade, near-surface mineralisation from the Kim & Cass, Damoti, and Treasure Island deposits. These four deposits combined represent approximately 0.5 million ounces grading 2.62 g/t Au of Inferred estimated mineral resources in the 2022 MRE.
“These higher-grade deposits remain open along strike and at depth providing an opportunity to further enhance the global mineral resource estimated grades with additional drilling.
“Our 2022 exploration programme will focus on expanding higher-grade mineralisation, whilst continuously looking at the entire property for additional higher-grade targets and long-term opportunities. We look forward to providing timely updates on our 2022 exploration programme and other developments.”
For further information please visit: https://www.nighthawkgold.com/
