HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) has uncovered a new high-grade silver-gold-zinc vein field four kilometers (km) northeast of its high-grade JT deposit at the Johnson Tract project in Alaska, which is positive for the potential of the property's wider 21,000 acre area.
Sampling at the Difficult Creek (DC) prospect has uncovered the new field over a 250 metre (m) by 700m area, with assays including 1,800 grams per ton (g/t) silver, 0.4 g/t gold and 0.5% zinc in a rock grab sample.
READ: HighGold Mining reports further drill assays from Alaska showing potential to expand JT deposit resource
The work last year also expanded a ‘gold-in-soil’ anomaly previously defined by HighGold in 2019 and also identified an area of high-grade copper mineralization at DC, with a sampling assay of 9.87% copper.
"We are very encouraged by the high silver, gold, zinc and copper values in our first round of reconnaissance sampling across the DC Prospect,” said HighGold CEO Darwin Green in a statement.
"The high-grade and widespread nature of the mineralization is a testament to the regional prospectivity of Johnson and highlights the potential for making additional mineral deposit discoveries along the 12 km long mineral trend."
"The new vein field is an attractive target both for shallow, high-grade silver mineralization and at greater depth for gold where the vein structures project into underlying dacite tuffs that host most of the high-grade gold mineralization elsewhere on the property," he added.
The company said it would carry out the first drilling of these new "grassroots" targets in the approaching field season alongside the planned expansion drilling program at its main JT deposit.
Work at the DC prospect consisted of reconnaissance geological mapping, prospecting and geochemical sampling to evaluate historic showings and look for new zones of mineralization.
HighGold is awaiting further results from the 2020 Johnson field program, including from 12 drill holes from the JT deposit area, as well as soil and rock sample results from other surrounding regional prospects.
Final drill results are also pending for the late 2020 drill program completed at its Timmins Ontario projects.
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 12km strike.
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Contact the author at giles@proactiveinvestors.com
