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.
Source: HighGold Mining

HighGold Mining (TSXV:HIGH) has reported new assay results from 2022 drilling at the Ellis Zone discovery at the Difficult Creek Prospect. These are the third and final batch of results from the project, which is located four kilometres northeast of the 1.005 Moz indicated at 9.4 g/t gold equivalent JT Deposit. This is one of many district-scale prospects HighGold Mining is exploring in Southcentral Alaska on the Johnson Tract project. 

The diamond drilling completed during the second half of the 2022 summer field season was focused on systematically stepping out along strike and at depth on the Ellis Zone on 25 to 50-meter centres. The new drilling has returned strong mineralization west and down-plunge of recently released results and includes 15.5m at 4.04 g/t AuEq, including 1.5m at 26.24 g/t AuEq, in hole DC22-056, and 16.1m at 3.07 g/t AuEq, including 3.0m at 7.84 g/t AuEq, in hole DC22-060. 

Darwin Green, CEO of HighGold Mining, commented in a press release: “The 2022 drill program at the Ellis Zone was very successful in sketching-in a new center of high-grade gold and base metal mineralization with similar characteristics to the main +1Moz JT Deposit located 4km away. This is strong validation of the district potential for multiple deposits and the opportunity to contribute additional mineral resources to the existing resource base. To date, the Ellis Zone has been documented over a strike length of 125 meters and from surface to a depth of 225 meters and is open to expansion. It remains early days in the exploration of this promising new zone, and we look forward to returning in 2023 with larger step-outs, particularly down plunge to the west and to depth.”

Source: HighGold Mining

Highlights from the results are as follows:

  • 4.1m at 5.89 g/t AuEq (3.28 g/t Au, 3.14% Zn, 0.81% Pb, 0.29% Cu), in hole DC22-037, including
    • 0.9m at 16.21 g/t AuEq (14.55 g/t Au, 0.22% Zn, 0.89% Cu)
  • 6.6m at 4.96 g/t AuEq (1.43 g/t Au, 4.35% Zn, 0.62% Cu), in hole DC22-049, including
    • 1.3m at 12.90 g/t AuEq (5.70 g/t Au, 2.08% Zn, 2.55% Cu)
  • 16.1m at 1.53 g/t AuEq (0.17 g/t Au, 2.08% Zn), in hole DC22-050, including
    • 0.5m at 20.59 g/t AuEq (0.76 g/t Au, 32.50% Zn, 0.43%)
  • 3.6m at 5.92 g/t AuEq (0.90 g/t Au, 7.91% Zn), in hole DC22-051, including
    • 1.5m at 9.83 g/t AuEq (1.91 g/t Au, 12.75% Zn, 0.29% Cu)
  • 15.5m at 4.04 g/t AuEq (2.99 g/t Au, 1.49% Zn), in hole DC22-056, including
    • 1.5m at 26.24 g/t AuEq (25.70 g/t Au, 0.81% Zn)
  • 16.1m at 3.07 g/t AuEq (0.36 g/t Au, 3.97% Zn, 0.21% Cu), in hole DC22-060, including
    • 3.0m at 7.84 g/t AuEq (0.75 g/t Au, 11.03% Zn, 0.31% Cu)
  • 8.5m at 2.62 g/t AuEq (1.41 g/t Au, 1.55% Zn, 0.69% Pb), in hole DC22-065

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)
DC22-035 79.6 92.8 13.2 0.12 2.9 0.03 0.17 0.45 0.5
DC22-036* 41.0 83.8 42.8 3.44 23.3 0.21 0.83 2.06 5.4
Incl 42.0 60.4 18.4 7.29 49.9 0.44 1.78 3.92 11.2
Incl 47.0 50.7 3.7 18.00 86.8 0.91 1.62 4.05 22.9
DC22-037 57.4 61.5 4.1 3.28 14.1 0.29 0.81 3.14 5.9
Incl 58.4 59.3 0.9 14.55 35.7 0.89 0.15 0.22 16.2
DC22-038* 74.6 82.8 8.2 4.39 8.7 0.34 0.03 0.28 5.1
Incl 74.6 80.1 5.5 5.95 11.9 0.50 0.01 0.21 6.8
DC22-039 NSV                
DC22-040 NSV                
DC22-041 17.9 19.9 2.00 0.37 8.9 0.38 2.30 4.52 4.3
And 32.2 38.2 6.0 1.13 7.1 0.09 0.72 1.30 2.3
Incl 32.2 35.2 3.0 1.84 11.6 0.12 1.14 1.85 3.6
DC22-041B 1.4 3.2 1.8 1.81 17.2 0.06 0.06 0.05 2.1
And 17.4 22.1 4.7 0.13 7.1 0.26 1.36 2.35 2.3
Incl 20.1 21.1 1.0 0.36 15.4 0.72 2.94 5.36 5.5
DC22-042 80.7 84.5 3.8 0.55 83.5 0.02 0.18 0.42 1.7
DC22-043* 37.1 49.0 11.9 21.68 30.1 0.61 0.38 4.20 25.3
Incl 37.1 43.7 6.6 38.31 48.8 0.89 0.37 5.48 43.3
Incl 37.1 41.0 3.9 54.20 71.1 1.26 0.48 8.29 61.6
DC22-044* 46.4 66.7 20.3 1.72 5.6 0.14 0.18 1.46 2.9
Incl 52.8 54.8 2.0 8.34 8.9 0.41 0.44 4.00 11.4
DC22-045* 4.6 57.1 52.5 2.95 5.5 0.10 1.01 2.38 4.9
Incl 9.1 44.3 35.2 4.20 6.1 0.12 1.40 3.19 6.7
Incl 9.1 11.0 1.9 12.95 37.7 0.08 13.51 31.42 36.2
Incl 30.0 43.3 13.3 7.81 6.4 0.23 1.31 2.35 10.0
DC22-046* 56.0 70.8 14.8 10.14 13.8 0.28 0.46 5.97 14.3
Incl 56.0 65.7 9.7 15.34 20.0 0.42 0.60 8.58 21.3
Incl 57.5 64.3 6.8 21.29 25.1 0.55 0.61 10.70 28.7
Incl 57.5 59.0 1.5 62.50 10.5 0.77 0.59 10.50 70.0
DC22-047 97.8 159.1 61.3 0.19 0.4 0.05 0.06 1.02 0.9
Incl 145.5 149.3 3.8 0.51 2.1 0.38 0.01 5.42 4.2
And 264.0 276.9 12.9 0.08 3.1 0.73 0.01 0.11 1.1
Incl 274.7 276.2 1.5 0.20 5.7 2.66 0.01 0.07 3.7
DC22-048 80.2 88.6 8.4 0.20 2.3 0.21 0.20 1.27 1.3
Incl 84.5 85.7 1.2 0.51 7.9 1.03 0.91 3.21 4.1
And 129.0 137.4 8.4 0.10 4.4 0.35 0.03 2.08 1.8
Incl 129.0 131.4 2.4 0.25 12.7 1.20 0.04 4.87 4.8
DC22-049 55.7 62.3 6.6 1.43 13.4 0.62 0.13 4.35 5.0
Incl 59.6 60.9 1.3 5.70 54.9 2.55 0.19 5.68 12.9
And 72.9 76.2 3.3 0.39 4.9 0.23 0.09 3.29 2.7

Table 1 Continued.

Drill Hole From To Length Au Ag Cu Pb Zn AuEq
  (meters) (meters) (meters) (g/t) (g/t) % % % (g/t)
DC22-050 52.8 68.9 16.1 0.17 2.3 0.05 0.16 2.08 1.5
Incl 62.9 63.4 0.5 0.76 9.9 0.43 0.03 32.50 20.6
DC22-051 76.4 80.0 3.6 0.90 3.1 0.21 0.17 7.91 5.9
Incl 77.6 79.1 1.5 1.91 3.3 0.29 0.33 12.75 9.9
DC22-052** NSV                
DC22-053** 27.5 29.2 1.7 0.47 9.4 0.18 0.65 2.30 2.4
DC22-054** NSV                
DC22-055** NSV                
DC22-056 71.3 86.8 15.5 2.99 6.4 0.06 0.12 1.49 4.0
Incl 79.8 81.3 1.5 25.70 3.5 0.01 0.03 0.81 26.2
DC22-057 72.9 75.4 2.5 0.74 2.9 0.11 0.05 7.10 5.1
Incl 72.9 74.4 1.5 1.01 3.7 0.12 0.06 10.25 7.3
DC22-058 29.2 30.7 1.5 0.04 296.0 0.05 0.58 1.30 4.0
And 62.6 68.6 6.0 0.49 1.8 0.02 0.12 0.63 0.9
And 79.1 85.0 5.9 0.82 0.9 0.00 0.15 0.61 1.2
DC22-059 57.9 65.3 7.4 0.41 1.8 0.03 0.14 1.69 1.5
Incl 61.1 64.3 3.2 0.55 1.5 0.04 0.18 2.67 2.3
DC22-060 53.1 69.2 16.1 0.36 4.7 0.21 0.19 3.97 3.1
Incl 57.8 60.8 3.0 0.75 6.4 0.31 0.42 11.03 7.8
DC22-061 198.0 212.0 14.0 0.15 3.0 0.62 0.00 0.46 1.3
Incl 199.5 201.9 2.4 0.50 9.6 1.67 0.00 0.76 3.2
DC22-062 44.1 49.1 5.0 0.24 3.6 0.03 0.24 1.08 1.0
And 67.3 68.8 1.5 5.82 1.4 0.00 0.02 0.13 5.9
DC22-063 46.4 48.4 2.0 0.26 18.7 0.06 0.79 1.76 1.8
DC22-064 33.4 39.3 5.9 0.76 2.4 0.07 0.58 1.35 1.9
Incl 33.4 35.0 1.6 2.23 5.2 0.13 0.86 2.08 4.0
And 48.0 51.1 3.1 0.55 3.1 0.05 0.18 1.25 1.4
DC22-065 4.2 31.5 27.3 0.77 2.7 0.02 0.24 0.55 1.2
Incl 19.3 27.8 8.5 1.41 3.6 0.03 0.69 1.55 2.6
And 38.7 56.4 17.7 0.62 3.6 0.15 0.15 0.92 1.4
Incl 46.7 48.9 2.2 2.20 15.1 0.74 0.01 0.53 3.6
And 82.7 85.0 1.5 0.81 54.1 0.52 1.30 4.45 5.0
DC22-066 NSV                
DC22-067 NSV                
DC22-068** NSV                
Notes:
* Previously released drill intersection
** Other Difficult Creek Targets (not Ellis Zone)
NSV = No significant values
True thickness for the reported intersections estimated at 50% to 90% of 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.

 

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.

HighGold Mining (TSXV:HIGH) has reported new assay results from six additional drill holes testing the Ellis Zone at its Difficult Creek Prospect.  Difficult Creek is one of several district-scale prospects being explored by HighGold on the Johnson Tract project in Southcentral Alaska, USA.

Darwin Green, CEO of HighGold, commented in a press release: “The Ellis Zone discovery continues to deliver excellent results with some of the strongest and widest intersections to date coming from the western limit of our drilling. We are very encouraged by the persistence of the Ellis Zone mineralization along strike and plan to keep stepping out in all directions as we continue expanding the known extents of the zone. While still very early days, it appears we are well on our way to defining a second deposit at Johnson Tract to compliment the existing high-grade +1Moz JT Deposit mineral resource that is also open to expansion.”

Diamond drilling in the Ongava Continuation zone continues, with fresh step-out holes being drilled on 25 meter centers. With 21.68 grams per tonne Au, 30 grams per tonne Ag, 0.61 percent Cu, and 4.20% Zn over 11.9 meters, these new intersections have extended the region’s broad, high-grade Ellis Zone mineralization nearly 50%.

The JT Deposit (DC Prospect) is located four kilometers northeast of the deposit and is characterized by a series of large gossan alteration zones that are similar in style to the +1Moz AuEq JT Deposit, which covers a 1.5 km x 3.0 km area in a broad northeasterly direction. Gold mineralization and widespread clay/anhydrite alteration are preferentially developed within dacitic to rhyolitic fragmental rocks that are capped by a shallowly dipping sequence of lesser altered andesite volcanics at higher elevations, hosting an epithermal vein field containing gold and silver.

The widespread amount of mineralization exposed in erosional windows by the topping andesite might allow for a large, partially blind mineralized system to be linked between the different DC Prospect zones along a strike length of 3 kilometers. Drilling began in late 2021, and near-surface bonanza-grade mineralization was discovered at 577.9 g/t Au and 2,023 g/t Ag over 6.40 meters in hole DC21-010.

During the off-season, subsequent geology modeling supported a north-northeast striking, steeply north-dipping trend to the mineralization that became the focus of the first 2022 drill program at what is now referred to as the ‘Ellis Zone.’

So far, a total of 36 drill holes have been completed at the Ellis Zone totalling 4,935 meters. Today’s release includes assay results for 6 new holes, making the total number of released holes 14. Drill hole lengths are usually 75 to 150 meters long and have been drilled in fan patterns of 12.5 to 25-meter grid spacing in order refine the geometry, geological controls and grade distribution better understand this promising new mineralized zone.

Mineralogy, veining and alteration at the main JT Deposit are similar to those located four km southwest. The main deposit has been defined from surface downward to a depth of 300 meters, with a strike length of 600 meters and an average true thickness of 40m.

Drilling has now defined the Ellis Zone mineralization over a strike length of approximately 125 meters and from surface to a depth of 100 meters with an average true thickness of 10 to 15 meters. An apparent shallow plunge to the southwest is now defined by the thickest and the greatest-grade intercepts, which suggest that there may be additional targets in this area. The Ellis Zone remains open along strike and at depth, as well as towards the east and west, and drilling continues in ever-increasing increments as confidence in the geologic model grows.

Figure 1: Johnson Tract Project. Source: HighGold Mining

Drill Highlights of the Ellis Zone, DC Prospect are as follows:

Drillhole DC22-046

  • 14.8m @ 10.14 g/t Au, 13.8 g/t Ag, 0.28% Cu, 5.97% Zn (14.3 g/t AuEq) including
  • 6.8m @ 21.29 g/t Au, 25.1 g/t Ag, 0.55% Cu, 0.61% Pb, 10.70% Zn (28.7 g/t AuEq) including
  • 1.5m @ 62.50 g/t Au, 10.5 g/t Ag, 0.77% Cu, 0.59% Pb, 10.59% Zn (70.0 g/t AuEq)

Drillhole DC22-045

  • 35.2m @ 4.2 g/t Au, 6.1 g/t Ag, 0.12% Cu, 1.40% Pb, 3.19% Zn (6.7 g/t AuEq) including
  • 1.9m @ 12.95 g/t Au, 37.7 g/t Ag, 13.51% Pb, 31.42% Zn (36.2 g/t AuEq), and
  • 13.3m @ 7.81 g/t Au, 6.4 g/t Ag, 0.23% Cu, 1.31% Pb, 2.35% Zn (10.0 g/t AuEq)

Drillhole DC22-044

  • 20.3m @ 1.72 g/t Au, 5.6 g/t Ag, 0.14% Cu, 1.46% Zn (2.9 g/t AuEq), in hole DC22-044, including
  • 2.0m @ 8.34 g/t Au, 8.9 g/t Ag, 0.41% Cu, 4.00% Zn (11.5 g/t AuEq)

Table 1. Johnson Tract Project – DC Prospect – Ellis Zone – Significant Assay Intersections

Drill Hole

From

To

Length

Au

Ag

Cu

Pb

Zn

AuEq

(meters)

(meters)

(meters)

(g/t)

(g/t)

%

%

%

(g/t)

DC22-029

31.3

32.6

1.3

6.10

6.5

0.01

0.02

0.04

6.2

DC22-031

29.2

34.3

5.1

0.31

6.7

0.03

0.10

0.23

0.6

DC22-032

28.0

30.6

2.6

0.24

3.2

0.10

0.59

1.96

1.7

And

51.1

55.6

4.5

0.26

10.2

0.11

0.90

2.56

2.3

DC22-044

46.4

66.7

20.3

1.72

5.6

0.14

0.18

1.46

2.9

Incl

52.8

54.8

2.0

8.34

8.9

0.41

0.44

4.00

11.4

DC22-045

4.6

57.1

52.5

2.95

5.5

0.10

1.01

2.38

4.9

Incl

9.1

44.3

35.2

4.20

6.1

0.12

1.40

3.19

6.7

Incl

9.1

11.0

1.9

12.95

37.7

0.08

13.51

31.42

36.2

Incl

30.0

43.3

13.3

7.81

6.4

0.23

1.31

2.35

10.0

DC22-046

56.0

70.8

14.8

10.14

13.8

0.28

0.46

5.97

14.3

Incl

56.0

65.7

9.7

15.34

20.0

0.42

0.60

8.58

21.3

Incl

57.5

64.3

6.8

21.29

25.1

0.55

0.61

10.70

28.7

Incl

57.5

59.0

1.5

62.50

10.5

0.77

0.59

10.50

70.0

True thickness for the reported intersections estimated at 50% to 90% of 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.

 

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.
Source: HighGold Mining

Yesterday, the expansion of the Timmins regional land holdings and the presentation of an exploration update on the Timmins properties were announced by HighGold Mining (TSXV:HIGH). The Company’s commanding land position has been increased by 25% thanks to recent claim staking and acquisition, bringing it to 335 square kilometres.

The new acquisition comprises of 255 strategically located mining claims covering 56 square kilometres (22 square miles), which connect to HighGold’s existing Timmins South mining claims and border Newmont’s Dome mine property, located seven kilometres to the northwest.

The Timmins South property is home to several high-grade gold occurrences. In the 1930s, a 12-meter shaft was sunk into a 1.37m wide quartz vein at the Bay Lake gold display, which produced composite samples of 150.8 g/t Au, 43.2 g/t Au and 35.17 g/t Au as well as historical grab specimens of 766.2 g/t Au and 229.7 g/t Au.

Drilling will be planned at a later date once the company’s exploration plans for the Timmins projects include low-cost field surveys to create and perfect drill targets. Under present market conditions, HighGold is taking a methodical capital expenditure approach with the goal of significantly advancing its understanding of prospects in preparation for drilling at a future date.

Geology mapping, prospecting, and rock sampling have been done at the Munro-Croesus and Timmins South projects. The emphasis has been on prospects with known historical exploration shafts and possible stratigraphy, as well as the findings achieved during the winter Munro Croesus drilling program.

At Munro-Croesus, a 63-line km DCIP ground geophysical survey was done during the winter, with modelling, inversion, and data interpretation continuing. Preliminary findings indicate numerous chargeability and resistivity anomalies that need to be investigated further, including chargeability highs that are close to, and in line with, the new Argus Zone.

An 85-line kilometre overwater seismic survey was recently completed on Frederickhouse Lake to map the depth of the sediment and bedrock, which will aid drill planning and interpretation of bedrock geology and structures. Frederickhouse Lake is a big, shallow (2-4 meters deep on average) man-made lake that straddles several promising geology prospects at the intersection of the Pipestone Fault and Timmins Mine trend. In summer or winter, drilling may be done by barge.

CEO of HighGold Darwin Green commented in a press release: “This acquisition builds on HighGold’s vision of creating one of the most dominant land positions in the Timmins gold camp. Our focus is underexplored portions of this world-class gold environment underpinned by high-potential geology. The Timmins assets provide shareholders with exposure to low-cost greenfield exploration in the shadow of headframes that is complimentary to the Company’s flagship Johnson Tract high-grade gold project, Alaska.”

Recap of 2022 Munro-Croesus Winter Drill Program and Final Drill Results

The 2022 Winter Drill Program at Munro-Croesus was completed in early April with a total of 7,401 meters drilled in 33 holes. Highlights include the discovery of near-surface bulk tonnage style gold mineralization at the new Argus Zone and the intersection of new high-grade quartz veins near the historic Croesus Gold Mine.

Argus Zone

  • 136m at 0.54 g/t Au, starting at a vertical depth of 70 meters, including 62.8m at 0.79 g/t Au, and including 4.5m at 4.88 g/t Au in MC22-110 (see Company news release dated May 9, 2022).
  • Five of six drill holes drilled at the Argus Zone intersected significant intervals of mineralization which is open to expansion in multiple directions, including to the west toward the intersection of the Argus Zone trend with the regional Pipestone Fault.

Croesus Vein Extension

  • 13.40 g/t Au over 0.5m within a broader 4.80m interval grading 3.60 g/t Au (hole MC22-96) from an intersection of the Croesus Vein, 100m northeast of the Croesus Mine (See Company new release dated March 20, 2022).
  • 14.00 g/t Au over 0.6m within a broader 2.60m interval grading 3.42 g/t Au (hole MC22-92) from a new quartz vein zone intersected 370m northwest of the Croesus Mine.
  • These discoveries are a ‘proof of concept’ of the Company’s geological and structural models which highlight the potential for the Croesus Vein system to continue to the northeast along a major regional structure, and also that the prospective Croesus Flow could host multiple analogues to the Croesus Vein along strike.

The Company has received all final assay results from the remaining 19 holes from the 2022 Munro-Croesus Winter Drill Program with encouraging results from the first-pass drilling of four other prospects. Highlights include:

Walhart Prospect

  • 0.29 g/t Au over 26.30m (hole MC22-99)
  • 6.00 g/t Au over 0.60m (hole MC22-100)

JM Prospect

  • 0.51 g/t Au over 5.00m (hole MC22-101)
  • 2.12 g/t Au over 1.50m (hole MC22-102)
  • 1.92 g/t Au over 0.80m (hole MC22-103)
  • 3.19 g/t Au over 0.30m (hole MC22-106)
  • 4.98 g/t Au over 0.30m (hole MC22-107)

#4 Shaft Vein Extension

  • 2.27 g/t Au over 0.3m (hole MC22-116)
  • 2.27 g/t Au over 0.4m (hole MC22-117)
  • 2.23 g/t Au over 0.5m within a broader ‘Argus-style’ 11.0m interval grading 0.69 g/t Au (MC22-119)

Brown-Munro Vein

  • 4.42 g/t Au over 0.7m within a broader 1.4m interval grading 2.42 g/t Au (hole MC22-122)

Source: HighGold Mining

 

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.