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HighGold Mining unveils more impressive assays from flagship Alaska project

Last month, it unveiled assays for the first two holes of a nine-hole program. Today, it posted five

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"Drilling at Johnson continues to deliver impressive intersections and confirms the presence of a very robust mineralized zone," HighGold president and chief executive Darwin Green told investors

HighGold Mining Inc (CVE:HIGH) reported more good drill results from its flagship project in Alaska on Tuesday, which confirm "the presence of a very robust mineralized zone". 

On November 5 this year, the firm unveiled assays for the first two holes of a nine-hole program, which encountered high-grade gold and base metal mineralization. 

A further five holes today were reported, with highlight assays including 15.06 grams per ton (g/t) gold equivalent (AuEq) over 59.2 m in one hole, including an intersection of 38.33 g/t gold equivalent, the firm said. 

READ: HighGold Mining announces C$9.3M bought deal financing to advance exploration

"Drilling at Johnson continues to deliver impressive intersections and confirms the presence of a very robust mineralized zone," HighGold president and chief executive Darwin Green told investors.

He said these widely spaced drill holes had tested the JT Deposit over a vertical extent of 250-meters and excellent widths of high-grade mineralization were hit throughout.

"In addition to incremental expansion of the mineralized zone, the new data helps refine lateral and vertical zonation of precious and base metals, in which both gold grade and zone thickness increase with depth," said Green.

"This bodes well for future exploration at the Northeast Offset target approximately 700 meters to the north, which we believe to be the off-set depth extension of the deposit."

The company boss also highlighted to investors that with its recently completed $9.3 million financing, HighGold was well funded to test the exceptional exploration upside at Johnson.

"The company's 2020 exploration strategy will be drill intensive, targeting JT Deposit expansion, the Northeast Offset and other exploration targets on the district scale property," he added.

This drill program was designed to better define and expand the Johnson Tract deposit (JT Deposit) which was last drilled and explored more than 25 years ago.

 HighGold Mining controls an extensive portfolio of quality gold projects in the greater Timmins gold camp, in Ontario that includes the Munro-Croesus Gold property, and the large Golden Mile and Golden Perimeter properties.

Shares shed 3.57% in Toronto to stand at C$1.35 each.

Contact the author at [email protected]

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Price: 1.15 CAD

TSX-V:HIGH
Market: TSX-V
Market Cap: $46 m
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