TORONTO, June 9, 2020 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to provide an update on the construction progress of the Tłı̨chǫ All-Season Road Project ("TASR"), a permanent 97 km two-lane gravel highway that will provide year-round access to the Community of Whatı̀ by connecting to Hwy 3 west of Yellowknife, Northwest Territories, Canada.
Dr. Michael Byron, President & CEO commented, "We are very pleased to see roadwork progress so quickly and have been advised that construction is ahead of schedule. This project is important for industry and local residents as the road will allow transportation efficiencies to reduce the cost of living within the region, foster social opportunities by linking up some of the more remote communities such as Whatı̀ and demonstrates the territory's commitment to infrastructure development. While Nighthawk is not dependent on winter road access as we utilize our 5,000ft air strip to transport people and supplies as needed, the TASR will ultimately result in much better winter road access to our Indin Lake Gold Property."
Cosntruction of the TASR commenced in September 2019 and was suspended due to Covid-19 with construction resuming mid-May. The updated schedule anticipates the road to be open to the public by Fall 2021.
Update as of March 2020 – For more information please visit the official website of the Government of the Northwest Territories.
- 97 kilometres of right-of-way clearing has been complete
- 36 kilometres of embankment construction has been complete
- Installation of surface material granular base material is scheduled for 2020
- Culvert installations will resume this spring
- 22 bridge piles have been installed
- Girders have been installed for La Martre Bridge
Jobs and Training
- Total workers employed: 124
- Tłı̨chǫ: 32; Northern: 16; Southern: 76
- Female: 10
Additional TASR Project Information
The road construction is being funded through a public-private partnership, with the federal government providing 25% of the capital costs. The remainder is being funded by the Government of the Northwest Territories. The territorial government is working in partnership with the Tłı̨chǫ First Nation government to advance the project.
- Replacing the southern section of the existing winter road will adapt to the impacts of climate change, provide uninterrupted access to the community of Whatì and increase the winter road window-of-access to the communities of Gamètì, Wekweètì, and Nighthawk's Indin Lake Gold Property.
- Transportation efficiencies will reduce the cost of living for the region and embrace social opportunities.
- All-weather access will attract further interest from industry in exploration and development of natural resources.
- Road construction and maintenance will result in significant employment and training opportunities for Tłı̨chǫ residents that support the development of a strong northern workforce.
For more information on the TASR project and other infrastructure initiatives from the Government of the Northwest Territories, please visit their website at https://www.inf.gov.nt.ca/en.
Annual Meeting of Shareholders
As a result of the COVID-19 pandemic the Company has decided to postpone the annual meeting of shareholders to a later date in 2020 to enable greater participation of its shareholders and a better forum for communication. In accordance with Ontario Instrument 51-504 - Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials of the Ontario Securities Commission, the Company will be delaying the public filing of its executive compensation disclosure until the filing of its management information circular in connection with its annual meeting of shareholders. Information pertaining to the annual meeting of shareholders will be provided in due course.
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.
Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer of Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release. Please refer to NI 43-101 technical report "Technical Report and mineral resource estimate update on the Colomac Property of the Indin Lake Project", dated June 13, 2018, as filed under the company's profile on www.sedar.com.
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SOURCE Nighthawk Gold Corp.
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