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HighGold Mining restarts drilling at Timmins projects following coronavirus suspension

In March this year, the explorer suspended drilling at Timmins due to the coronavirus (COVID-19) outbreak

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At the famous Timmins gold camp, a particular focus for the firm is the Munro-Croesus property and its historically mined, high-grade gold mineralization

HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) told investors it has restarted drilling at its Munro-Croesus and Golden Mile properties in the Timmins gold camp in Ontario.

In March this year, the explorer suspended drilling at Timmins due to the coronavirus (COVID-19) outbreak. At the time it said it had sunk 12 holes for 2,524 meters (m) of diamond drilling out of a planned 5,000m program. 

On Tuesday, HighGold said it had started a 3,500m drill program at the projects.

READ: HighGold Mining continues to hit high grades with drilling at flagship Johnson Tract gold project in Alaska

At Munro-Croesus, the firm said it has recently completed a prospecting and mapping program followed by channel sampling of gold-bearing quartz vein systems.

Several of these vein prospects, it said, which lie outside then historic Croesus mine, will be drill tested for the first time during the current program. Highlights from the channel sampling included 11.24 grams per ton (g/t) gold over 1.85m and 17.05 g/t of the yellow metal over 0.8m.

Meanwhile, Highgold said it has continued to expand its footprint at Munro-Croesus with recent property purchases and claim staking, which have increased its ground fivefold to 20 square kilometers (1,968 hectares).

At the famous Timmins gold camp, where HighGold has three properties, a particular focus is on the Munro-Croesus property and its historically mined, high-grade gold mineralization. Past diamond drilling by a previous owner here in 2011 hit 18.79 g/t of gold over 4.1m in the hanging wall to the mined Croesus vein

Highgold also owns the Golden Mile 86 square kilometer property, which is nine kilometers northeast of Newmont's multi-million-ounce Hoyle Pond deposit in Timmins. And its Golden Perimeter project spans 118 square kilometers and lies to the south and southeast of Timmins on the south edge of the Shaw dome structure.

Contact the author at giles@proactiveinvestors.com

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Price: 2.48 CAD

TSX-V:HIGH
Market: TSX-V
Market Cap: $121.77 m
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