Nighthawk Gold

Website: www.nighthawkgold.com
Primary ticker: TSX:NHK, OTCQX:MIMZF
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Indin Lake Gold Property
Project location: Canada
Company presentation: Click here
Corporate video: View here

Live financials

Cash: C$7.6M
Debt: NIL

Major shareholders:
Northfield Capital – 20%
Kinross Gold – 9.09%
Osisko Gold Royalties – 8.6%
Ruffer LP – 2.5%
Van Eck – 1.6%
Management ownership – 5%

Nighthawk Gold Corp. is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located in a Tier 1 jurisdiction (Northwest Territories, Canada).

Focused on advancing the Colomac Gold Project with a current inferred resource of 2.6 million ounces of gold as well as advancing its high-grade gold deposits and showings on its Indin Lake Gold Property, within a highly prospective and underexplored Archean gold camp.

The Company has a strong shareholder base anchored by strategic partnerships with Kinross and Osisko Gold Royalties. In 2020 the Company will provide an updated mineral resource estimate for the Colomac Gold Project, and a maiden resource for one of its high-priority regional targets, the Damoti Lake Gold Project.

View Pi Financial Report View Haywood Report

Management Profile

Michael Byron, President & CEO

Dr. Michael Byron has +30 years of field work, research, and senior management experience in gold, base-metal, magmatic nickel & PGE, diamond, and gemstone exploration, spanning employment within the mineral exploration industry and government. He has provided consulting services to several junior explorers on African and South American gold and diamond projects, and co-founded a number of exploration companies with interests in North and South America.He was a founding member of Aurora Platinum, Lake Shore Gold Corp., and Falco Resources. Dr. Byron currently sits on the board of five publicly traded companies, is a professional geoscientist registered in Ontario and the Northwest Territories, and holds advanced degrees in Geology including a PhD from Carleton University of Ottawa, Ontario.


What is your rationale for attending 121 Mining Investment?

Increased visibility and exposure to new investors ahead of a resource update (expected within H1/2020).


What recent news would you like to highlight to investors attending?

Treasure Island Final 2019 Drill Results – Feb/04/20
Goldcrest South Drilling – Feb/19/20
Completion of Royalty Purchase – Apr/03/20
Colomac Metallurgy Heap Leach Results – Apr/23/20
Land Ownership Update – Apr/29/20
Colomac 2019 Drilling Summary – May/20/20


What are your key goals for the next 3, 6 and 12 months?

3 Months:

Updated mineral resource estimate for Colomac and maiden resource estimate at Damoti Lake

6 Months:

2020 drilling results and update on resuming drilling activities (post Covid)

12 Months:

Continue to advance the flagship Colomac Project, preparation of an internal scoping study, and additional drilling focused on resource expansion and further delineation of high-grade zones. Additional drilling at high-priority targets such as the Leta Arm and Treasure-Island.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

We temporarily suspended exploration activities amid the Covid-19 pandemic. We are currently assessing ability and timeline to complete our 2020 program, while planning for our 2021 needs. While our resource update and internal scoping work is not affected by this disruption, the continued advancement of the projects requires additional drilling and testing. We hope to provide an update on our exploration plans in the coming months.


What do you think makes your company such a compelling investment?

We have a distrcit-scale land position (3X the Timmins camp) within an underexplored Archean gold camp. There is no shortage of gold deposits and showings hosting significant grades and widths, all surrounding Colomac, a growing multi-million-ounce deposit. Our efforts reflect our initial thesis of developing what we believe to be Canada’s next gold camp. With the strong support of our largest shareholder, our low carrying costs and our experienced team, we believe we can achieved our goals while providing positive returns for shareholders.

Analyst Insight – provided by Independent Investment Research

Nighthawk Gold is a TSX-listed Canadian gold company, with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt. The company has a strong shareholder base anchored by strategic partnerships with Kinross and Osisko Gold Royalties. 

The company’s flagship Colomac Gold Project lies within its Indin Lake Gold Property, which covers 222,203 acres (900 sq km) within the Indin Lake Gold Camp, located approximately 200km north of Yellowknife. Nighthawk is focused on advancing the Coloma Gold Project with a current inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.642 g/t Au, as well as advancing its other regional gold deposits and showings on its Indin Lake Gold Property, within a highly prospective and underexplored Archean gold camp. Only a very small portion of the mineralized Colomac intrusion is captured by this estimate, leaving strong potential for discovery of an underexplored and highly prospective deposit 

Five separate gold deposits make up the Colomac Project (Colomac Main, Goldcrest North, Goldcrest South, Grizzly Bear, and 24/27), but only Colomac, Goldcrest and more recently Grizzly Bear have been drilled by the company to date. All deposits remain underexplored and open in all dimensions. The Colomac Main Deposit was intermittently mined from 1990 to 1997, with reported production of 527,908 ounces of gold with an average head grade of 1.66 grams per tonne gold. The other deposits remain untouched; thus mining activities have only impacted a small portion of the sill’s 7km mineralized strike length. To date, exploration costs per ounce of gold added to the resource are less than $8.  

Nighthawk recently completed its 2019 drilling program on its Colomac Gold Project, utilising three drill rigs. The program objectives were to continue the expansion of higher-grade mineralization intersected to-date at Colomac and to explore for other new zones of near surface higher grade material within the Colomac area sills, culminating in the delivery of a resource update by early 2020. Drilling is now underway in satellite target locations.