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HighGold Mining reports further drill assays from Alaska showing potential to expand JT deposit resource

The assays come from last year's program for 16,418m in 32 holes and show the up-plunge extents of the deposit and also the continuity of the deeper Footwall Copper-Silver Zone

HighGold -
Johnson Tract spans 21,000 acres and is a polymetallic (gold, copper, zinc, silver, lead) asset near tidewater in south central Alaska

HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) has released new drill assays from its Johnson Track (JT) deposit in Alaska, which underline the potential to expand the resource there. 

The assays come from last year's program for 16,418 metres (m) in 32 holes and show the up-plunge extents of the deposit and also the continuity of the deeper Footwall Copper-Silver Zone (FCZ). 

READ: HighGold Mining closes C$3.7 million financing to fund exploration on its Canadian gold properties

"We continue to be encouraged by the continuation and strength of the JT Deposit mineral system at depth and by the emergence of the Footwall Copper-Silver Zone, a new area of copper-silver rich mineralization, with resource potential that contributes to the overall metal endowment at Johnson," said CEO Darwin Green in a statement.

"The current batch of drill results are base-metal dominant and highlight the presence of copper and zinc-rich domains within the polymetallic gold-rich JT Deposit."

Highlights included 11m at 8.6% zinc, 0.4% copper, including 5m at 12.0% zinc, 0.3% copper in one hole, down plunge, and 12m at 2.8% copper, 51 g/t silver, within 58.6m at 1% copper, 21 g/t silver in another at the FCZ.

Green noted that drilling last year had "significantly" expanded the JT Deposit footprint with step-outs from the area, which hosts an indicated resource of 750,000 ounces of gold-equivalent at 10.9 g/t gold-equivalent.

"HighGold's geological and structural model continues to evolve. Based on the new data, it appears that a significant portion of the mineral system is open to expansion down-plunge and is not cut-off at depth as interpreted by previous operators," he added.

"With approximately C$18 million in the treasury, the company is fully funded to further test the limits of these zones and other targets in 2021.

Johnson Tract spans 21,000 acres and 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 12km strike.

HighGold acquired the asset through a lease agreement with Cook Inlet Region, Inc (CIRI), one of 12 land-based Alaska Native regional corporations. CIRI is owned by more than 9,100 shareholders, who are primarily of Alaska Native descent.

Contact the author at giles@proactiveinvestors.com

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TSX-V:HIGH
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HighGold Mining taking success of 2020 drill season to plan aggressive 2021...

HighGold Mining (CVE: HIGH) CEO Darwin Green joined Steve Darling from Proactive to share news the company has learned a tremendous amount from their 2020 drill season at their Johnson Tract Project in Alaska. Green telling Proactive that data including info on how the deposit was formed has...

on 01/21/2021

2 min read