Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Nighthawk Gold (TSX: NHK) has made a new greenfield discovery about 15 km southwest of the former Colomac gold mine about 220 km northwest of Yellowknife, NWT. Dubbed Albatross, the mineralization returned 2 metres grading 5.37 g/t gold in a longer intersection of 14 metres at 1.37 g/t gold in hole A21-02.
The discovery hole was one of 12 widely spaced holes drilled to test the Cass trend over a strike length of 4.6 km to the west of the Cass zone.
The company says the Albatross discovery, about 1 km west of the Cass zone, demonstrates potential near the Kim and Cass zones for additional resources.
Drilling also tested the Cass zone, extending it a further 250 metres to the west. Highlighted results include 20.5 metres grading 3.21 g/t gold; 9 metres at 5.08 g/t, 32 metres at 1.49 g/t gold, including 10.5 metres at 3.37 g/t; 23.8 metres at 1.47 g/t gold; and 30 metres grading 1.09 g/t, including 7 metres at 2.98 g/t gold.
Nighthawk is in the middle of an ambitious 2-year drilling campaign. They drilled 72,325 metres this year, and next year they are planning 100,000 to 125,000 metres. Of particular interest is near-surface mineralization with the potential to increase in-pit resources.
An updated resource estimate is due in the first quarter of 2022, and a preliminary economic assessment could be done in the second half of 2023.
(This article first appeared in the Canadian Mining Journal)
