HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) continues to receive encouraging drill results from Alaska, where latest assays show the Johnson Track (JT) deposit at its flagship gold project could be extended at depth and down-plunge.
This year's drilling campaign has now finished at the explorer's JT project for 16,420 metres (m) in 33 holes, and today's assays come from four, with 23 still pending.
READ: HighGold Mining unveils more high grade drill assays from flagship Johnson Tract asset in Alaska
Highlight intersections include 17.4 meters at 3.9 grams per ton (g/t) of gold, 5 g/t silver, 0.6% copper, 7.6% zinc, which amounts to 10.3 g/t gold-equivalent (AuEq).
Another step-out hole hit 17.3m at 6.1% zinc, 0.1% copper, 1 g/t silver, 0.2 g/t gold, representing 4.1 g/t gold-equivalent, the firm told investors.
HighGold CEO Darwin Green said in a statement that the results highlighted the "opportunity to add high-tonnage/high-value mineralization with each new step-out hole".
"Observations of drill core from these and subsequent holes (for which assays are still pending) suggest the JT Deposit remains open for continued expansion down-plunge and that not all of it is faulted-off at depth as was previously interpreted," he said.
The JT Deposit has now been intersected over a strike of 250m and a down-plunge distance of 315m and remains open for expansion to the northeast, southwest and at depth.
"HighGold's exploration team is applauded for executing a large and successful program safely, efficiently and under budget during a challenging COVID-19 environment," added Green
"Our first, full-scale exploration program has contributed significantly to the understanding of the Johnson Tract mineral system and the project's exceptional exploration potential.
"With only a third of drill holes reported so far, we are looking forward to receiving the balance of the drill hole assay data along with the results from over 1,800 soil and rock samples collected as part of the concurrent regional field program," he added.
Of the 33 holes completed, 16 were at the JT Deposit and Footwall Copper Zone, nine were at the NE Offset target, four were at the North Trend target, and another four were at the DMZ target, which lies between the JT Deposit and the NE Offset target.
The Footwall Copper Zone was uncovered last year and is beginning to take shape as a distinct mineralized zone demonstrating good continuity between holes suggesting high resource potential.
This zone has now been intersected in four holes over a strike length of around 80 meters and remains open in all directions.
Johnson Tract is a polymetallic (gold, copper, zinc, silver, lead) asset near tidewater in south central Alaska. It hosts the high-grade JT deposit)and at least nine other prospects over a 12 km strike.
The JT Deposit hosts a higher confidence indicated resource of 2.14 million tonnes (Mt) grading 10.93 g/t gold equivalent.
Contact the author at giles@proactiveinvestors.com
