Nighthawk Provides Update on the Tlicho Highway Project
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TORONTO, ON / ACCESSWIRE / March 11, 2021 / Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX:NHK)(OTCQX:MIMZF) is pleased to provide an update on the Tłı̨chǫ Highway Project (the "TASR", see Figure 1), a permanent 97km two-lane gravel highway on a former winter road alignment from Hwy 3, roughly 40km south of Behchokǫ̀ - to the Community of Whatı̀, Northwest Territories, Canada.
Keyvan Salehi, President & CEO commented, "The commitment of the federal, territorial and the Tłı̨chǫ Government on this infrastructure project, and their progress to date is very encouraging. Based on the anticipated timeline of construction, the road is scheduled to be completed and open to the public by the fall of this year. This new all-season road will provide the citizens of the Tłı̨chǫ Nation with transportation efficiencies to reduce the cost of living within the region and foster social opportunities by linking the more remote communities such as Whatı̀. As well, this will ultimately result in better winter road access to our Indin Lake Gold Property. The continuation of an all-season road, through our property to the community of Wekweeti is a logical next step and something that we will strive to advocate for as we continue to advance our assets."
TASR Highway Project Information & Updates
Construction of the TASR commenced in September 2019 and is scheduled to be completed and open to the public by the fall of 2021. 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, who are working in partnership with the Tłı̨chǫ Government to advance the project.
Construction milestones achieved prior to the winter break are outlined below:
- 97 kilometres of right-of-way clearing and embankment construction completed; and
- 48 bridge piles installed, and 3 out of 4 bridges competed (construction of La Martre, Unnamed, and Duport Bridges completed, with work on the James Creek Bridge to conclude this year).
Construction activities to resume in spring 2021.
For more information on the TASR project, please visit their website at https://www.inf.gov.nt.ca/en/TlichoHighway.
Figure 1. TASR Highway Project and relative location to the Indin Lake Gold Property
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 200km north of Yellowknife, Northwest Territories, Canada. Within this largely underexplored Archean gold camp, the Company has identified a number of high-priority targets all centered around a growing multi-million-ounce deposit. These targets lie within large regional deformation zones that are pregnant with gold mineralization and are known to host significant deposits which warrant additional exploration and follow-up. The main goals and objectives over the next 12-24 months will be to carry out aggressive exploration to support resource expansion opportunities as well as to foster new, near-surface discoveries that support the global resource base.
The Company has an experienced and dedicated team with a track record of successfully advancing projects and is well funded and supported to complete its goals and objectives.
President & CEO
Suzette N Ramcharan
VP, Corporate Development
The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to: any decision pertaining to an all-season road build to the community of Wekweeti and the timing of such an undertaking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nighthawk to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Nighthawk's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Nighthawk has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Nighthawk does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Nighthawk Gold Corp.
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