HighGold Mining (TSXV:HIGH) Reports Initial 2023 Assay Results, Confirming Western Expansion of High-Grade Gold Mineralization at Alaska’s Johnson Tract Project

Figure 1. Ellis Zone, Johnson Tract Project – Vertical Longitudinal Section with Drill Intersections. Source: HighGold Mining

HighGold Mining (TSXV:HIGH) has revealed initial assay results from its 2023 exploration and development program at the Johnson Tract polymetallic Gold Project in Southcentral Alaska, USA. The project features a high-grade JT Deposit with a 1.05 million ounces indicated resource at 9.39 g/t gold equivalent.

Darwin Green, CEO of HighGold Mining, commented in a press release: “The Johnson Tract project is synonymous with high-grade gold and these first results of our 2023 drill program do not disappoint. Hole DC23-070 is a near-surface 50-meter step out to the west of the Ellis Zone and is the 8th intersection to date from the recent discovery to yield a ‘grade-thickness’ greater than 100 gxm AuEq*. Two drill rigs are currently active on site, focused on the continued expansion of the Ellis Zone and JT Deposit as well as exploring for new discoveries.”

The newly disclosed data confirms the western expansion of high-grade gold mineralization in the Ellis Zone, situated four kilometres northeast of the JT Deposit. The Ellis Zone was a focal point of drilling activities during the 2022 field season. The information comes from the first two 50-meter step-out drill holes completed in 2023.

The DC Prospect, like the Ellis Zone, is also four kilometres northeast of the JT Deposit. It is marked by a series of large gossan alteration zones, similar to the JT Deposit, stretching over a 1.5 km x 3.0 km area. The area features a variety of mineralizations including gold, silver, copper, zinc, and lead. These minerals are found in epithermal to VMS-style veins and breccia, primarily hosted in dacitic to rhyolitic volcanic and volcaniclastic rocks.

Drilling in late 2021 led to the discovery of near-surface bonanza-grade mineralization at the Ellis Zone. Specifically, hole DC21-010 returned 577.9 g/t gold and 2,023 g/t silver over a 6.40-meter distance. Subsequent drilling in 2022 further defined the Ellis Zone mineralization, mapping it over a strike length of 125 meters and down to a depth of 225 meters.

The first two drill holes for 2023, named DC23-069 and DC23-070, intersected vein- and replacement-style mineralization consisting mainly of pyrite-chalcopyrite-sphalerite 50 to 60 meters below the surface. These intersections confirm the western extension of the Ellis Zone and showcase elevated concentrations of gold within the polymetallic mineralized zone. Ongoing drilling activities at the Ellis Zone are set to explore further along strike and down-dip of these reported intersections.

Regarding the 2023 program, HighGold Mining plans to conduct 8,000 meters of drilling to expand known mineralized zones at both the Ellis Zone and the JT Deposit. The program will also explore new high-potential prospects and undertake geotechnical and hydrogeological studies. As part of the program, an airborne Mobile MagnetoTellurics geophysical survey, geological mapping, and geochemical sampling will be carried out, along with environmental studies.

As of August 31, a total of 5,283 meters have been drilled, distributed across 23 holes which include 17 exploration holes and 6 geotechnical drill holes. Assay results will be released periodically after undergoing quality assurance and control protocols set by the company.

Highlights from the results are as follows:

  • 2.2 m at 57.0 g/t AuEq (49.9 g/t Au, 25 g/t Ag, 1.5% Cu, 8.4% Zn) in hole DC23-070, including
    • 1.1 m at 80.5 g/t AuEq, (71.40 g/t Au, 29.7 g/t Ag, 1.5% Cu, 11.7% Zn).

Table 1. Significant Assay Intersections from the Ellis Zone, Johnson Tract Project

Drill Hole From To Length Au Ag Cu Pb Zn AuEq
(meters) (meters) (meters) (g/t) (g/t) % % % (g/t)
DC23-069 52.2 53.6 1.4 2.05 0.9 0.01 0.08 0.60 2.5
And 185.3 187.6 2.3 0.16 0.5 3.55 0.01 0.48 5.0
Incl 185.3 186.8 1.5 0.23 82.6 4.72 0.04 1.77 8.1
DC23-070 59.2 61.4 2.2 49.85 24.6 1.50 0.01 8.40 57.0
Incl 59.2 60.3 1.1 71.40 29.7 1.51 0.02 11.65 80.5
And Incl 60.3 61.4 1.1 28.30 19.5 1.50 0.00 5.14 33.5
And 71.4 72.9 1.5 0.34 2.3 0.07 1.17 2.92 2.5

*True thickness for the reported intersections in holes JT22-069 and JT-070 is estimated at 85% to 95% of the reported width. Gold Equivalent (“AuEq”) based on assumed metal prices of US$1650/oz for Au, US$20/oz for Ag, US$3.50/lb for Cu, US$1.00/lb for Pb and US$1.50/lb for Zn and payable metal recoveries of 97% for Au, 85% for Ag, 85% Cu, 72% Pb and 92% Zn. Grade-thickness is the product of multiplying the drilled intercept length by the grade of the intercept.

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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