Highgold drilling at Johnson Tract

2020-06-30 05:36 ET – News Release

Mr. Darwin Green reports

HIGHGOLD MINING COMMENCES DRILL PROGRAM AT THE JOHNSON TRACT PROJECT, SOUTHCENTRAL ALASKA, USA

Highgold Mining Inc. has started up the 2020 drill program and exploration activities at its flagship Johnson Tract gold project in Alaska. Phase 1 of the program plans for 7,000 to 10,000 metres of diamond drilling utilizing two drill rigs on five target areas surrounding the Johnson Tract deposit that hosts an indicated resource of 750,000 ounces gold equivalent (AuEq) at 10.93 grams per tonne AuEq. Based on the results of phase 1, additional drilling may be undertaken in a second phase during the latter half of the 2020 field season.

“We are excited to launch on the first serious exploration drill program in 25 years at Johnson,” commented president and chief executive officer Darwin Green. “Highgold’s work in 2019 generated numerous quality drill targets within an 800-metre 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. These include:

  • JT deposit expansion: 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 stepout drilling northeast of drill hole JT19-090 that intersected 75.1 m grading 10.0 g/t Au, 9.4 per cent zinc and 0.6 per cent copper.
  • Northeast offset: This represents the interpreted fault-displaced continuation of the main Johnson Tract resource and mineralized zone, located approximately 500 to 800 metres 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.
  • North trend: A mappable trend and footprint of hydrothermal alteration extends over one kilometre 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.
  • Footwall discovery: 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 20.7 m grading 32 g/t silver, 2.4 per cent Cu and 4.9 per cent Zn in hole JT19-089.
  • Southwest extension: 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 underexplored 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 per cent Cu and 20 per cent Pb over 1.5 m.

About Highgold Mining Inc.

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 (zinc-copper) project located in accessible south-central Alaska, which contains an indicated resource of 2.14 million tonnes grading 10.93 grams per tonne gold equivalent for 750,000 ounces AuEq and an additional inferred resource of 580,000 tonnes grading 7.16 g/t AuEq for 134,000 ounces AuEq, along with excellent exploration potential indicated by several other prospects over a 12-kilometre strike length.

We seek Safe Harbor.

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