North American gold explorer HighGold Mining Inc. (HIGH:TSX.V; HGGOF:OTCQX), yesterday announced the results from assays collected from four resource infill and expansion drill holes at its Johnson Tract (JT) Project in Southcentral Alaska, U.S.
The JT Project is a poly-metallic (gold, copper, zinc, silver, lead) project that encompasses about 8,475 ha and hosts an Indicated resource of 1,053,000 oz Au eq grading 9.39 g/t Au eq. The company noted that this phase of drilling at the JT Deposit was centered around the gaps between inferred resource domains and step-outs at depth.
The firm advised that one of the four holes, Hole JT22-152, was drilled to test the long axis of the JT Deposit to determine the presence, if any, of under-represented vein orientations or cross-faults.
HighGold Mining highlighted that assays received from Hole JT22-152 included the best intersections drilled at the JT Deposit to date. These cores from Hole JT22-152 displayed visible gold and showed exceptional continuity of very high-grade mineralization.
"We are also very pleased with the success of infill drilling of gaps in the mineral resource with drill holes that were designed to connect the main body of the mineral resource with isolated bodies of the Inferred resource located down-plunge," said HighGold Mining's President and CEO Darwin Green.
The firm added that the other three holes (JT22-148, JT22-149, and JT22-150) drilled at JT demonstrate potential for infill additions and extensions at depth to the established inferred mineral resource.
The assays from Hole JT22-152 returned 120.5m of 18.76 g/t Au (gold), 0.55% Cu (copper), 3.86% Zn (zinc), 0.93% Pb (lead), and 6 g/t Ag (silver) or 22.1 g/t Au eq. The firm noted that one high-grade segment from this hole included 19.1 m of 43.87 g/t Au.
Additionally, the results from Hole JT22-148 showed 9.3 m of 7.18 g/t Au, 0.22% Cu, 5.57% Zn (10.9 g/t Au eq), and Hole JT22-149 returned 5.3m of 0.65 g/t Au, 20 g/t Ag, 1.72% Cu, and 0.57% Zn (3.2 g/t Au eq).
HighGold Mining's President and CEO Darwin Green remarked, "The exceptional results of drill hole JT22-152 underscore the highly attractive combination of large intervals of high-grade mineralization that characterize the JT Deposit . . . We are also very pleased with the success of infill drilling of gaps in the mineral resource with drill holes that were designed to connect the main body of the mineral resource with isolated bodies of the Inferred resource located down-plunge."
The company completed a total of 10,346m in 55 holes during its 2022 drill program at the Johnson Tract project. Five of these holes included a total of 2,738m which were designed for infill drilling and resource expansion. HighGold explained that the goal of these efforts was to build upon the updated mineral resource that was previously announced in July 2022.
The company stated that Hole JT22-152 showed great promise as it Intersected a significant mineralized zone with local, visible gold starting from a down-hole depth of 207.6m to 321.1m. The firm said it expects the results from this hole "to have a positive impact on the mineral resource intersecting much higher-grade gold mineralization than the indicated resource grade of 9.4 g/t Au eq."
HighGold noted that so far, it has released assay results for 19 of the 55 drill holes completed during this year's drill program and intends to release the remaining data after it is received and analyzed.
HighGold is a mineral exploration company based in Vancouver, B.C., Canada. The company is focused on its "flagship" Johnson Tract Gold-Zinc-Copper Project in Alaska and its operations in the Timmins, Ontario gold camp, which include the Munro-Croesus Gold property, Golden Mile, and Timmins South properties.
HighGold Mining Inc. began the day yesterday with a market cap of around US$37.51 million with approximately 73.02 million shares outstanding. HGGOF shares opened nearly 25% higher yesterday at US$0.6489 (+US$0.1295, +24.93%) over the previous day's US$0.5194 closing price. The stock traded yesterday between US$0.559 and US$068 per share and closed for trading at US$0.5922 (+US$0.0728, +14.01%).
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