Includes 114.4 g/t Au over 4.9 meters and
64.7 g/t Au over 5.0 meters
HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF)
(“HighGold” or the “Company”) is pleased to announce
assay results from the ongoing 2021 drill program at its 0.75 Moz
Indicated 10.9 g/t gold equivalent (“AuEq”) Johnson Tract
polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”)
in Southcentral Alaska, USA.
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Figure 1. Johnson Tract Project –
Longitudinal Section for the JT Deposit showing the location of
Hole JT21-125 (Graphic: Business Wire)
Hole JT21-125 is an infill hole designed with the dual purpose
of collecting material to support a Phase I metallurgical testing
program and to provide better definition of the deeper,
higher-grade portion of the JT Deposit (Figure 1). The hole
successfully intersected a long interval of gold-dominant
mineralization with significantly higher gold grade than the
average of the JT Deposit resource. True thickness of the JT
Deposit typically ranges from 20 to 50 meters and in the JT21-125
intersection is over 35 meters.
Drill Highlights Hole JT21-125
- 18.69 g/t Au, 2.43% Zn, 0.47% Cu over 56.6m, including
- 31.69 g/t Au, 1.82% Zn, 0.58% Cu over 32.9m, including
two high-grade intervals of
- 64.74 g/t Au, 1.49% Zn, 0.53% Cu over 5.0m and
- 114.37 g/t Au, 3.51% Zn, 0.33% Cu over 4.9m
“We are very pleased to report this new intercept from the
deeper reaches of the JT Deposit that confirms the strength of the
mineralizing system,” commented President and CEO Darwin Green. “In
combination with the recent drill results from the DC Prospect 4km
to the northeast, the Johnson Tract Project continues to establish
itself as one of the pre-eminent high-grade gold exploration projects located in
the USA.”
Discussion of JT Deposit Infill Results
Assay results reported today include an intersection from infill
drilling at the JT Deposit from hole JT21-125. The hole was
designed as a dual-purpose infill and metallurgical test hole to
gather sample material through the JT Deposit for the 2021 Phase I
Metallurgical Testing Program. The hole successfully intersected
typical ‘JT-style’ mineralization in silicified, veined and
brecciated dacite tuff over 56.6 meters from 236.7-293.3m in the
deeper portion of the JT Deposit. The drill hole was collared on
the northwest side of the deposit at an azimuth/dip of 130/-46
degrees, oriented to cut across the mineralized zone in the
opposite direction to most previous holes with the objective of
better defining the continuity and orientation of high-grade gold
mineralization. Details on the metallurgical test work program are
presented below.
The location of infill hole JT21-125 in relation to the JT
Deposit is presented on a longitudinal section in Figure 1
with details on assay composites presented in Table 1. The
Au-Cu-Zn-Ag-Pb mineralization associated with the JT Deposit has
been defined over a total strike length of 600 meters and remains
open along strike to the northeast and southwest, and at depth.
Table 1. Johnson Tract Project – Assay
Composites for Drill Hole JT21-125.
Drill Hole
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
Zn (%)
Cu (%)
Pb (%)
JT21-125
236.7
293.3
56.6
18.69
3.9
2.43
0.47
0.36
Including
260.4
293.3
32.9
31.69
5.1
1.82
0.58
0.47
Including
273.4
278.4
5.0
64.74
7.4
1.49
0.53
0.88
And Incl.
288.4
293.3
4.9
114.37
10.5
3.51
0.33
<0.01
True thickness for the intersection in hole JT21-125 is
estimated at 65% to 75% of drilled width.
2021 Phase I Metallurgical Testing Program
Blue Coast Metallurgy & Research has been engaged to carry
out a Phase I metallurgical testwork program on the JT Deposit
using selected drill core from the 2021 drill program. The Program
will: a) complete test work to confirm historic metallurgical
results reported by previous operators and identify possible
opportunities for improvement; and b) advance the metallurgy to
support potential future PEA-level process design. The Program will
include QEMSCAN mineralogical studies, identification of potential
geometallurgical domains, grindability/gravity/flotation test work,
and the development of a flowsheet for recovery of pay metals to
marketable end products. Two (2) composites are currently being
considered from the upper and lower JT Deposit domains, and
potentially a third composite from the Footwall Copper Zone
(“FWCZ”). Drill hole JT21-125 reported in this news release is from
the lower JT Deposit domain, located at a deeper level within the
deposit.
Current Exploration Activities
Three (3) diamond drill rigs are currently operating on the
Project in concert with a regional geological mapping and
geochemical sampling program, air and ground-based geophysical
surveying, and a Phase I metallurgical sampling program. The
current phase of drilling is scheduled to conclude on or before
month end. Assays results will be released on an ongoing basis
pending review and meeting Company quality assurance-quality
control protocols. An updated mineral resource estimate is planned
for the JT Deposit in early 2022, following the completion and
receipt of all assays from the 2021 drill program. The new resource
estimate will incorporate new drilling completed in 2020 and 2021.
Over 30,000 meters have been drilled on the Project since the
maiden resource.
About the Johnson Tract Gold Project
Johnson Tract is a poly-metallic (gold, copper, zinc, silver,
lead) project located near tidewater, 125 miles (200 kilometers)
southwest of Anchorage, Alaska, USA. The 21,000-acre district scale
property includes the high-grade Johnson Tract Deposit (“JT
Deposit”) and at least nine (9) other mineral prospects over a
12-kilometer strike length. HighGold acquired the Project through a
lease agreement with Cook Inlet Region, Inc. (“CIRI”), one of 12
land-based Alaska Native regional corporations created by the
Alaska Native Claims Settlement Act of 1971. CIRI is owned by more
than 9,100 shareholders who are primarily of Alaska Native
descent.
Mineralization at Johnson Tract occurs in Jurassic-age
intermediate volcaniclastic rocks and is characterized as
epithermal-type with submarine volcanogenic attributes. The JT
Deposit is a thick, steeply dipping silicified body (20m to 50m
average true thickness) that contains a stockwork of
quartz-sulphide veinlets and brecciation, cutting through and
surrounded by a widespread zone of anhydrite alteration. The
Footwall Copper Zone is located structurally and stratigraphically
below JT Deposit and is characterized by copper-silver rich
mineralization. To date, the Au-Cu-Zn-Ag-Pb mineralization
associated with the JT Deposit has been defined over a total strike
length of 600 meters and to a depth of 350 meters and remains open
along strike to the northeast and southwest, and at depth.
The JT Deposit hosts an Indicated Resource of 2.14 Mt grading
10.93 g/t gold equivalent (“AuEq”) comprised of 6.07 g/t Au, 5.8
g/t Ag, 0.57% Cu, 0.80% Pb and 5.85% Zn. The Inferred Resource of
0.58 Mt grading 7.16 g/t AuEq is comprised of 2.05 g/t Au, 8.7 g/t
Ag, 0.54% Cu, 0.33% Pb, and 6.67% Zn. For additional details see NI
43-101 Technical Report titled “Updated Technical Report for the
Johnson Tract Project, Alaska” is dated August 9, authored by Ray
C. Brown, CPG, and James N. Gray, P.Geo. Gold Equivalent is based
on assumed metal prices and 90% recovery for Au, Ag, Cu, Pb, and
Zn. Assumed metal prices for the Resource are US$1350/oz for gold
(Au), US$16/oz for silver (Ag), US$2.80/lb for copper (Cu),
US$1.00/lb for lead (Pb), and US$1.20/lb for zinc (Zn) and are
based on nominal 3-year trailing averages as of April 1, 2020.
Historical metallurgical testing on drill core samples has
indicated that good gold and base metal recoveries and marketable
concentrates can be expected.
Prior to HighGold, the Project was last explored in the
mid-1990s by a mid-tier mining company that evaluated direct
shipping material from Johnson to the Premier Mill near Stewart,
British Columbia.
About HighGold
HighGold is a mineral exploration company focused on high-grade
gold projects located in North America. HighGold’s flagship asset
is the high-grade Johnson Tract Gold (Zn-Cu) Project located in
accessible Southcentral Alaska, USA. The Company also controls a
portfolio of quality gold projects in the greater Timmins gold
camp, Ontario, Canada that includes the Munro-Croesus Gold
property, which is renowned for its high-grade mineralization, and
the large Golden Mile and Golden Perimeter properties. HighGold’s
experienced Board and senior management team, are committed to
creating shareholder value through the discovery process, careful
allocation of capital, and environmentally/socially responsible
mineral exploration.
Ian Cunningham-Dunlop, P.Eng., VP Exploration for HighGold
Mining Inc. and a qualified person ("QP") as defined by Canadian
National Instrument 43-101, has reviewed and approved the technical
information contained in this release.
On Behalf of HighGold Mining Inc.
“Darwin Green”
President & CEO
For further information, please visit the HighGold Mining Inc.
website at www.highgoldmining.com.
Additional notes:
The starting azimuth and dip (Azimuth/-Dip) for drillhole
JT21-125 is 130/-46 degrees. Samples of drill core were cut by a
diamond blade rock saw, with half of the cut core placed in
individual sealed polyurethane bags and half placed back in the
original core box for permanent storage. Sample lengths typically
vary from a minimum 0.5 meter interval to a maximum 2.0 meter
interval, with an average 1.0 to 1.5 meter sample length. Drill
core samples are shipped by air and transport truck in sealed woven
plastic bags to ALS Minerals sample preparation facility in Reno,
Nevada for sample preparation and analysis. ALS Minerals operate
according to the guidelines set out in ISO/IEC Guide 25. Gold is
determined by fire-assay fusion of a 50 g sub-sample with atomic
absorption spectroscopy (AAS). Samples that return values >10
ppm gold from fire assay and AAS are determined by using fire assay
and a gravimetric finish. Various metals including silver, gold,
copper, lead and zinc are analyzed by inductively-coupled plasma
(ICP) atomic emission spectroscopy, following multi-acid digestion.
The elements copper, lead and zinc are determined by ore grade
assay for samples that return values >10,000 ppm by ICP
analysis. Silver is determined by ore grade assay for samples that
return >100 ppm.
The Company has a robust QAQC program that includes the
insertion of blanks, standards and duplicates.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward looking statements: This news release includes certain
“forward-looking information” within the meaning of Canadian
securities legislation and "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 (collectively “forward looking statements”).
Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of
words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”,
“forecast”, “expect”, “potential”, “project”, “target”, “schedule”,
“budget” and “intend” and statements that an event or result “may”,
“will”, “should”, “could” or “might” occur or be achieved and other
similar expressions and includes the negatives thereof. All
statements other than statements of historical fact included in
this release, including, without limitation, statements regarding
the Company’s currently ongoing drill program and pending assays
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements are based on a number of material
factors and assumptions. Important factors that could cause actual
results to differ materially from Company’s expectations include
actual exploration results, changes in project parameters as plans
continue to be refined, results of future resource estimates,
future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions,
uninsured risks, regulatory changes, defects in title, availability
of personnel, materials and equipment on a timely basis, accidents
or equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to
remedy same, and other exploration or other risks detailed herein
and from time to time in the filings made by the Company with
securities regulators. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ from those described in forward-looking
statements, there may be other factors that cause such actions,
events or results to differ materially from those anticipated.
There can be no assurance that forward-looking statements will
prove to be accurate and accordingly readers are cautioned not to
place undue reliance on forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211013005427/en/
Darwin Green, President & CEO or Naomi Nemeth, VP Investor
Relations Phone: 1-604-629-1165 or North American toll-free
1-855-629-1165 Email: information@highgoldmining.com.
Website: www.highgoldmining.com Twitter: @HighgoldMining
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