Vancouver, British Columbia--(Newsfile Corp. - June 30, 2020) - HighGold Mining Inc. (TSXV: HIGH) (OTCQX: HGGOF) ("HighGold" or the "Company") is pleased to announce the start-up of the 2020 drill program (the "Program") and exploration activities at its flagship Johnson Tract Gold Project in Alaska. Phase I of the Program plans for 7,000 to 10,000 meters of diamond drilling utilizing two drill rigs on five (5) target areas surrounding the Johnson Tract deposit ("JT Deposit") that hosts an indicated resource of 750k ounces gold equivalent ("AuEq") at 10.93 g/t AuEq. Based on the results of Phase I, additional drilling may be undertaken in a second phase during the latter half of 2020 field season.
"We are excited to launch on the first serious exploration drill program in 25 years at Johnson," commented President and CEO Darwin Green. "HighGold's work in 2019 generated numerous quality drill targets within an 800-meter radius of the high-grade JT Deposit mineral resource, several of which will be drilled for the first time this year. Focus is on expanding the mineral resource base and discovering new zones of mineralization, with early emphasis given to the Northeast Offset target where limited drilling by previous operators identified what is believed to be the fault-displaced continuation of the deposit. Crews are on-site, COVID-19 mitigation plans are in place, and drills are in position and ready to commence coring."
Priority 2020 Drill Targets
Drilling is planned at five priority target areas located in the near deposit environment (Figure 1). These include:
The edges of the JT Deposit are open to expansion along strike, particularly the deeper portions of the deposit where the thickest and highest-grade mineralization has been intersected. Plans include step-out drilling northeast of drill hole JT19-090 that intersected 75.1m grading 10.0 g/t Au, 9.4% Zn, and 0.6% Cu.
This represents the interpreted fault-displaced continuation of the main Johnson Tract resource and mineralized zone, located approximately 500 to 800 meters to northeast of the JT Deposit. Significantly, limited wide-spaced historic drilling has documented the same distinct alteration and metal signature that is associated with mineralization at the main JT deposit.
A mappable trend and footprint of hydrothermal alteration extends over 1 km north from the JT Deposit, with no previous drilling. A new exploration model developed by the HighGold technical team suggests a first order, north-south structural control to mineralization with potential for multiple mineralized zones along this trend.
Follow-up drilling is planned on a new discovery made during the 2019 confirmation and resource definition drill program. To date, only one drill hole has tested this distinct zone of mineralization located in the footwall to the JT Deposit, which intersected 20.7m grading 32 g/t Ag, 2.4% Cu, and 4.9% Zn in hole JT19-089.
A zone of previously undrilled alteration and mineralization that lies to the immediate southwest of the JT Deposit.
Surface Exploration Program
In addition to drilling in and around the JT Deposit, HighGold's technical teams will carry out geological mapping, geochemical sampling and geophysical surveys. The large, 8,500-hectare Johnson Tract property includes a series of under explored regional prospects that collectively define a 12-km long mineral trend. The intent of the surface work is to advance regional prospects to the drill-ready stage. Limited reconnaissance work in 2019 at the Difficult Creek prospect included the discovery of a new vein system and chip-channel samples yielding up to 22.1 g/t Au, 1.1% Cu, and 20% Pb over 1.5m.
For additional detail on the Johnson Tract 2020 exploration program, [click here] for a Proactive Investors interview with HighGold CEO Darwin Green.
HighGold is a mineral exploration company focused on high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in accessible Southcentral Alaska, USA that contains an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent (AuEq) for 750,000 ounces AuEq and an additional Inferred Resource of 0.58 Mt grading 7.16 g/t gold equivalent for 134,000 ounces AuEq (see Technical Report titled "Initial Mineral Resource Estimate for the Johnson Tract Project, Alaska" dated June 15, 2020) along with excellent exploration potential indicated by several other prospects over a 12-kilometer strike length. The Company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold's experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
On Behalf of HighGold Mining Inc.
President & CEO
For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com, or contact:
Darwin Green, President & CEO or Naomi Nemeth, VP Investor Relations
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Ian Cunningham-Dunlop, P.Eng., VP Exploration for HighGold Mining Inc. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's proposed 2020 diamond drilling and exploration program on the Johnson Tract Project are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
Figure 1. 2020 Drill Target Areas
To view an enhanced version of Figure 1, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58868
© 2020 Canjex Publishing Ltd. All rights reserved.