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 has released the results of nine holes completed last year at the Treasure Island gold project, located within its 899-sq.-km Indin Lake property in Canada’s Northwest Territories.
The drill highlights include 12.7 metres of 8.51 g/t gold and 7 metres of 6.35 g/t gold.
All of the 19 holes completed at Treasure Island last year intersected mineralization. Drilling to date has traced gold mineralization over a 750-metre long section of a regional contact which lies within the eastern portion of a 7-km long under-explored prospective corridor. This mineralization, which is up to 200 metres wide, remains open on strike.
Drill highlights include 12.7 metres of 8.51 g/t gold and 7 metres of 6.35 g/t gold
“Treasure Island is one of our key satellite prospects proximal to Colomac, and given its extensive broad mineralized envelope hosting internal higher-grade domains, and grossly unexplored status, we believe it has exceptional discovery potential and capability to grow significantly,” Michael Byron, the company’s president and CEO, said in a release.
Treasure Island is located 11 km north of the Colomac deposit. Nighthawk intends to continue exploring for near-surface gold deposits at Indin Lake and views the Treasure Island zone as a potential source of higher-grade feed for a future mining operation.
Nighthawk is currently finalizing the details of its fully-funded exploration program for the year.
Current resources at Colomac stand at 50.3 million tonnes grading 1.62 g/t gold for a total of 2.6 million oz. Colomac is a past-producing open pit.
(This article first appeared in the Canadian Mining Journal)
