Nighthawk Provides Update on 2020 Exploration Program Amid C
TORONTO, March 27, 2020 /PRNewswire/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZF) announces that in light of the current Covid-19 ("Coronavirus") pandemic, Nighthawk is in the process of temporarily suspending exploration activities on its Indin Lake Gold Property located in the Northwest Territories, Canada. The Colomac camp will temporarily close by the first week of April as precautions have been taken to ensure the safety and well being of all personnel at site, as well as the surrounding communities. The Company is not aware of any site personnel having contracted Coronavirus to date, however these measures are being taken to ensure they are not placed at undue risk. In an effort to reduce G&A costs during this time, the Company has decreased its marketing budget and Management and Directors have agreed to a reduction in cash compensation for the second quarter.
Nighthawk opened its camp in late February and commenced drilling activities on March 13, with three drills and a planned 25,000-metre drill program. There is currently no timeframe for this temporary suspension of exploration activities, while ongoing metallurgical testwork, preparation of an updated mineral resource estimate, and subsequently the preparation of an internal scoping study has not been affected. Any updates will be provided as they become available.
Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. Nighthawk is focused on advancing the Colomac Gold Project with a current inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 grams per tonne gold), as well as advancing its other regional gold deposits and showings within this largely underexplored Archean gold camp.
The Company has an experienced and dedicated team and is well funded to complete its goals and objectives over the next 12 months.
Neither the Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Nighthawk Gold Corp.