The spinout from Constantine Metal Resources Ltd (CVE:CEM) (OTCMKTS:CNSNF) is progressing with a 2,000-metre drill program at the Johnson Tract deposit in Alaska.
The explorer is aiming to have a maiden NI 43-101 compliant mineral resource on the project in the first quarter of 2020.
"This is an exciting time to be launching a new gold exploration company that focuses specifically on high grade mineralization as the energy returns to the gold industry,” said CEO Darwin Green in a statement.
HighGold plans to complete the current drill program on the Johnson project in the next few weeks and to be reporting assay results over the next two months, Green told investors.
The 21,000-acre Johnson Tract property is a high-grade gold and polymetallic deposit that HighGold feels has excellent exploration potential.
Johnson Tract is part of a larger project portfolio that includes a number of gold properties in the Timmins, Ontario gold camp.
Seasoned mining entrepreneur and Goldcorp founder Rob McEwen owns around 10% of the junior exploration company, as does Sprott Group in the US.
The company is currently in the midst of closing a C$7.65 million capital raise to fund exploration on its properties.