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HighGold Mining further consolidates ground at Munro-Croesus project with three more acquisitions

The latest consolidation of claims means the project area now spans 32 square kilometres, or 3,187 hectares

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The latest acquisitions cover 12 single-cell mining claims, three patented claims and one leasehold property consisting of four mining claims covering a total area of around 4 square kilometres

HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) told investors it has acquired three further properties surrounding the Munro-Croesus gold project at the Timmins camp in Ontario, meaning it has increased its ground at the project ten-fold over the past year.

The latest acquisitions cover 12 single-cell mining claims, three patented claims and one leasehold property consisting of four mining claims covering a total area of around 4 square kilometres. HighGold said it has paid, or agreed to pay cash totaling C$200,000 and US$150,000 to the vendors and issued them with 60,000 shares in the company.

The latest consolidation of claims means the Munro-Croesus project area now spans 32 square kilometres (sq km), or 3,187 hectares.

READ: HighGold Mining discovers new high-grade silver-gold-zinc vein field at Johnson Tract project, Alaska

"In the past year we have completed 10 separate property acquisitions surrounding Munro-Croesus for a ten-fold increase in the size of the project area,” HighGold CEO Darwin Green said in a statement.

"The continuing assembly and consolidation of these claims has allowed HighGold to establish one of the dominant land holdings in this highly prospective and productive region of the greater Timmins gold camp.”

Munro-Croesus lies in the heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction, which has generated over 200 million ounces of gold.

HighGold is the first company to have consolidated surrounding claims around the historic Croesus mine under single ownership. The Royal Ontario Museum (ROM) holds five Croesus ore specimen samples that collectively weigh 85 pounds and contain 480.7 ounces of gold.

As well as the past-producing Croesus mine, the project hosts numerous pits, trenches and exploration shafts developed early in the last century, while several 1 million-plus ounce gold deposits lie within a 2 to 7 kilometre radius.

Contact the author at giles@proactiveinvestors.com

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TSX-V:HIGH
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