VANCOUVER, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) studies that an preliminary C$10 million exploration finances has been authorized for its 0.75 million ounce 10.9 g/t gold equal (“AuEq”) Johnson Tract polymetallic Gold Venture (“Johnson Tract”, “JT” or the “Venture”) in Southcentral Alaska, USA.
2021 Exploration Program Plans & Technique
- Minimal 16,000 meters of drilling with three drill rigs
- Drilling to focus on each:
- Growth and infill to improve of the JT Deposit plus adjoining goal areas;
- First-time testing of different Johnson District prospects, together with the brand new 1 km x 0.5 km Excessive-Grade Ag-Au Vein Discipline found by prospecting in 2020 on the DC Prospect 4 km northeast of the JT Deposit
- Property-wide magnetic-electromagnetic (“VTEM”) airborne geophysical survey totalling 1,100 line-km to establish main fault constructions and potential areas of subsurface mineralization
- Detailed IP-Resistivity (“DCIP”) floor geophysical surveys over a number of Johnson District regional prospects to detect potential mineralized tendencies
- Geological mapping, prospecting, and soil & rock sampling applications to follow-up and increase on the constructive outcomes generated from the 2020 program and refine drill targets
“Our exploration workforce’s mandate in 2021 consists of each establishing essential mass on the JT Deposit and making new discoveries,” commented President and CEO Darwin Inexperienced. “The JT Deposit is open to growth and a precedence for this program is to proceed monitoring and increasing the deposit farther down-plunge. We have now excessive conviction within the potential to outline a multi-deposit district at Johnson Tract and are excited to be drill testing a number of of the precedence regional prospects for the primary time ever. With C$17 million in working capital, HighGold is absolutely funded for the deliberate program.”
Please click on here for a video dialogue with CEO Darwin Inexperienced with extra element on HighGold’s 2021 Johnson Tract work program.
Preparations are underway to start opening the JT camp and to start the VTEM airborne geophysical survey in late Might. Three drill rigs have been secured on website on the finish of the 2020 area season and are scheduled to be up and operating in early June. The present drill plan contemplates roughly two-thirds of the whole 16,000 meters devoted to the JT Deposit and adjoining targets, and one-third devoted to the encompassing Johnson District prospects.
Preliminary plans are for all three drill rigs to start out within the JT Deposit space, finishing systematic step-outs down-plunge and alongside strike to the deposit, in addition to testing the Footwall Copper Zone, Hole, revised Fault Offset, and new VMS Zone targets. Drilling at JT District regional prospects is predicted to start in July with a minimal of 1 drill rig devoted for the rest of this system. All the required permits are in hand to drill at every of the deliberate goal areas. DCIP floor geophysical surveying may also begin in July.
In regards to the Johnson Tract Gold Venture
Johnson Tract is a poly-metallic (gold, copper, zinc, silver, lead) challenge situated close to tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. The 21,000-acre property consists of the high-grade Johnson Tract Deposit (“JT Deposit”) and at the least 9 (9) different mineral prospects over a 12-kilometer strike size. HighGold acquired the Venture by way of a lease settlement with Cook dinner Inlet Area, Inc. (“CIRI”), one in all 12 land-based Alaska Native regional companies created by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by greater than 9,100 shareholders who’re primarily of Alaska Native descent.
Mineralization at Johnson Tract happens in Jurassic-age intermediate volcaniclastic rocks and is characterised as epithermal-type with submarine volcanogenic attributes. The JT Deposit is a thick, steeply dipping silicified physique (20m to 50m common true thickness) that comprises a stockwork of quartz-sulphide veinlets and brecciation, chopping by way of and surrounded by a widespread zone of anhydrite alteration. The Footwall Copper Zone is situated structurally and stratigraphically under JT Deposit and is characterised by copper-silver wealthy mineralization.
The JT Deposit hosts an Indicated Useful resource of two.14 Mt grading 10.93 g/t gold equal (“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 Useful resource of 0.58 Mt grading 7.16 g/t AuEq is comprised of two.05 g/t Au, 8.7 g/t Ag, 0.54% Cu, 0.33% Pb, and 6.67% Zn. For extra particulars see NI 43-101 Technical Report titled “Preliminary Mineral Useful resource Estimate for the Johnson Tract Venture, Alaska” dated June 15, 2020 authored by James N. Grey, P.Geo of Benefit Geoservices Ltd and Brodie A. Sutherland, P.Geo. Gold Equal is predicated on assumed metallic costs and 100% restoration and payabilities for Au, Ag, Cu, Pb, and Zn. Assumed metallic costs for the Useful 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 primarily based on nominal 3-year trailing averages as of April 1, 2020. Historic metallurgical testing on drill core samples has indicated that good gold and base metallic recoveries and marketable concentrates will be anticipated.
Previous to HighGold, the Venture was final explored within the mid-Nineteen Nineties by a mid-tier mining firm that evaluated direct transport materials from Johnson to the Premier Mill close to Stewart, British Columbia.
HighGold is a mineral exploration firm targeted on high-grade gold initiatives situated in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Venture situated in accessible Southcentral Alaska, USA. The Firm additionally controls one of many largest junior gold miner land positions within the Timmins, Ontario gold camp. This consists of the Munro-Croesus Gold property, which is famend for its high-grade mineralization, and the massive Golden Mile and Golden Perimeter properties. HighGold’s skilled Board and senior administration workforce, are dedicated to creating shareholder worth by way of the invention course of, cautious allocation of capital, and environmentally/socially accountable mineral exploration.
Ian Cunningham-Dunlop, P.Eng., VP Exploration for HighGold Mining Inc. and a professional particular person (“QP“) as outlined by Canadian Nationwide Instrument 43-101, has reviewed and authorized the technical data contained on this launch.
On Behalf of HighGold Mining Inc.
President & CEO
For additional data, please go to the HighGold Mining Inc. web site at www.highgoldmining.com.
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Ahead wanting statements: This information launch consists of sure “forward-looking data” inside the which means of Canadian securities laws and “forward-looking statements” inside the which means of the USA Non-public Securities Litigation Reform Act of 1995 (collectively “ahead wanting statements”). Ahead-looking statements embrace predictions, projections and forecasts and are sometimes, however not at all times, recognized by means of phrases akin to “search”, “anticipate”, “imagine”, “plan”, “estimate”, “forecast”, “anticipate”, “potential”, “challenge”, “goal”, “schedule”, “finances” and “intend” and statements that an occasion or end result “could”, “will”, “ought to”, “might” or “may” happen or be achieved and different comparable expressions and consists of the negatives thereof. All statements apart from statements of historic truth included on this launch, together with, with out limitation, statements concerning the Firm’s deliberate drill program are forward-looking statements that contain numerous dangers and uncertainties. There will be no assurance that such statements will show to be correct and precise outcomes and future occasions might differ materially from these anticipated in such statements. Ahead-looking statements are primarily based on numerous materials components and assumptions. Essential components that would trigger precise outcomes to vary materially from Firm’s expectations embrace precise exploration outcomes, modifications in challenge parameters as plans proceed to be refined, outcomes of future useful resource estimates, future metallic costs, availability of capital and financing on acceptable phrases, normal financial, market or enterprise circumstances, uninsured dangers, regulatory modifications, defects in title, availability of personnel, supplies and gear on a well timed foundation, accidents or gear breakdowns, delays in receiving authorities approvals, unanticipated environmental impacts on operations and prices to treatment similar, and different exploration or different dangers detailed herein and infrequently within the filings made by the Firm with securities regulators. Though the Firm has tried to establish necessary components that would trigger precise actions, occasions or outcomes to vary from these described in forward-looking statements, there could also be different components that trigger such actions, occasions or outcomes to vary materially from these anticipated. There will be no assurance that forward-looking statements will show to be correct and accordingly readers are cautioned to not place undue reliance on forward-looking statements.