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News Update

TICKERS: HIGH; HGGOF

Gold Explorer Raises Drill Program Goals and Adds 3rd Drill Rig at Alaska Project
News Update

Source:

HighGold Mining announced that it has upsized its drill program to 15,000 meters and added a 3rd drill rig at its Johnson Tract Gold project in Southcentral Alaska.

High Gold Johnson Tract

In a news release HighGold Mining Inc. (HIGH:TSX.V; HGGOF:OTCQX) announced that it has "increased the scope and budget for the 2020 exploration program at its flagship Johnson Tract Gold project in Southcentral Alaska." The firm previously advised on June 30, 2020, that it planned to use two drill rigs to undertake 7,000-10,000 meters of diamond drilling. The company noted that it has contracted to add a third drill rig, which is expected to arrive during the first week of August, and with the additional rig lined up it has expanded the program to include a minimum of 15,000 meters.

HighGold Mining's President and CEO Darwin Green commented, "With the recently announced $12 million bought deal financing HighGold has positioned itself to maximize the 2020 field season...The accelerated exploration program, which now includes three drill rigs and 15,000 meters of planned drilling, provides an opportunity to materially advance Johnson Tract this year. With an additional drill rig, we can test multiple target areas at the same time and rapidly follow-up on exploration success."

The company stated that the high-grade Johnson Tract Gold-Zinc-Copper project is its flagship asset and that according to the NI 43-101 Technical Report dated June 15, 2020, titled "Initial Mineral Resource Estimate for the Johnson Tract Project, Alaska," it contains an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent for 750 Koz Au eq and an additional Inferred Resource of 0.58 Mt grading 7.16 g/t gold equivalent for 134 Koz Au eq.

The company pointed out that it previously identified five key target areas located in and around the main Johnson Tract deposit. HighGold indicated that the updated and expanded drill program will include several additional holes at those five locations and that it also plans to test some new target areas.

The company advised that in order to limit the potential exposure and spread of the COVID-19 virus among its field and office staff, contractors, local workforce and Alaskan community members, it has taken action to implement all necessary State of Alaska accepted field measures. The firm mentioned that these measures include laboratory-based medical testing of all staff prior to their travel to site and adherence to all government recommended protocols within the workplace and camp.

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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