HighGold Mining Inc (CVE:HIGH) updated on progress in Alaska, where it has now completed this year's six-week exploration program and aims to produce a maiden resource estimate for the JT deposit at its flagship Johnson Tract project.
The work saw the firm sink nine diamond drill holes for 2,247 meters at the main Johnson Tract deposit (JT deposit), as well as prospecting, geological mapping and geochemical sampling on numerous regional targets nearby.
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"We were able to hit the ground running and execute a highly productive program in a relatively short period of time," HighGold president and CEO Darwin Green told investors.
"The work completed has positioned us well to deliver a first-time resource estimate and has reinforced our conviction in the substantial exploration upside at Johnson Tract, which was last explored 25 years ago.
Green added that the firm aims to provide assay results in the coming weeks as they become available.
Key achievements of the latest work, highlighted the firm, included that multiple new targets had been identified for drill testing next year and that it had significantly increased its understanding of the geological setting and the style and tenor of precious and base metal mineralization.
Johnson Tract is a gold, zinc, copper property near tidewater, 125 miles (200 kilometers) southwest of Anchorage in Southcentral Alaska.
Assets in Canada too
The firm also has gold assets in Canada and it said groundwork and permit applications were now also underway to set the stage for drill programs on the Munro-Croesus and Golden Perimeter properties in the Timmins gold camp, Ontario.
HighGold anticipates drilling during the first half of 2020, with results being released throughout the winter and early spring.
The company listed on the TSX Venture Exchange late last month and is also making progress toward completion of an application to the Over-the-Counter (OTC) platform in the U.S, it added in today's statement.
Contact the author at giles@proactiveinvestors.com
