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HighGold Mining finds new silver-copper-zinc rich zone at Johnson Tract

Today's reported assays come from the last two holes of a completed nine-hole drill program

HighGold -
Highlight results were 75.1 m at 10 g/t gold, 6 g/t silver, 0.6% copper, 9.4% zinc and 1.1% lead in one drill hole

HighGold Mining Inc (CVE:HIGH) revealed its flagship Johnson Tract gold project in Alaska continues to show its potential credentials, as the company reported a new discovery in the Footwall zone. 

Thursday's assays come from the last two holes of a completed nine-hole drill program, which showed an expansion to the high-grade mineralization at the JT deposit and a new silver-copper-zinc rich vein system in the footwall. 

READ: HighGold Mining unveils more impressive assays from flagship Alaska project

"The discovery of new, significant and distinctive mineralization in the footwall to the JT Deposit is a strong indication of the high exploration potential at Johnson," said HighGold president and chief executive Darwin Green.

"What makes it all the more encouraging is that the discovery was made during a first-pass drill program focused on deposit confirmation and expansion. Equally important, this step-out drilling has expanded the thickest and highest-grade portion of the JT Deposit, which remains open along strike and at depth."

Highlight results were 75.1 metres (m) at 10 grams per ton (g/t) gold, 6 g/t silver, 0.6% copper, 9.4% zinc and 1.1%  lead in one drill hole, including an intersection of 20 m at 29 g/t of gold, 7 g/t silver 0.7% copper and 3.5% zinc and 1.2% lead, which expands the zone of thickest and highest-grade mineralization at the JT deposit 20 m to the northeast.

The new footwall zone discovery was seen in a hole with 20.7 m at 32 g/t silver, 2.4% copper, 4.9% zinc, including 7 m at 66 g/t silver, 4.7% copper and 9.7% zinc.

Looking ahead, HighGold said that with now all assays in for the 2019 program, it will combine new and  historic drill data to develop a 3D geological model for the JT Deposit and begin work for an initial NI43-101 resource estimate. It will also prepare a detailed drill plan for 2020.

Major drill priorities for next year are expected to be:
  • Expansion of the JT deposit;
  • Testing the north-east fault offset, which is interpreted to be the fault-displaced depth continuation of the JT Deposit;
  • Follow-up on the New Footwall Zone Discovery, and other property-wide prospects.

Johnson Tract covers 21,000-acres and lies near tidewater, 125 miles (200 kilometers) southwest of Anchorage.

 It includes the very high-grade Johnson Tract Gold (Zn-Cu) deposit along with excellent exploration potential indicated by several other prospects over a 12km strike length.

Shares in Toronto advanced 8.7% to C$1.37 each.

---Updates for share price rise---

Contact the author at giles@proactiveinvestors.com

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Price: 2.18 CAD

TSX-V:HIGH
Market: TSX-V
Market Cap: $107.04 m
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