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Be the first with the news that moves the market- HighGold Mining (TSXV:HIGH) has commenced a multi-phase drill program at its Johnson Tract Gold Project in Alaska
- Phase one of the program has planned for between 7,000 and 10,000 metres of diamond drilling at five target areas surrounding the Johnson Tract deposit
- Based on the results of this phase, a second phase of drilling may be undertaken in the second half of the 2020 field season
- In addition to the drilling, a program of geological mapping, geochemical sampling and geophysical surveys will be undertaken to advance regional prospects to the drill-ready stage
- HighGold Mining (HIGH) is currently steady at C$1.77 per share
HighGold Mining (TSXV:HIGH) has commenced a multi-phase drill program at its Johnson Tract Gold Project in Alaska.
Located in the south-west of the state, the Johnson Tract project was discovered by Anaconda Minerals in 1982. A program of exploration was then undertaken until 1995, after which it remained inactive until its acquisition by HighGold in 2019.
Despite the previous work, the 8,475 hectare land package is considered to be largely under-explored with significant potential for further mineralisation.
As part of an initial phase of exploration, HighGold intends to undertake between 7,000 and 10,000 metres of diamond drilling.
This is expected to utilise two drill rigs targeting five areas surrounding the Johnson Tract deposit, which hosts an indicated resource of 750,000 ounces of gold equivalent at 10.93 grams per tonne of gold.
Based on the results of this first phase, a second phase of drilling may be undertaken later in the 2020 field season.
The peripherals of the Johnson Tract deposit are open to expansion along strike. This particularly applies to the deeper portions of the area where the thickest and highest-grade zones of mineralisation have been intersected.
HighGold plans to execute step-out drilling northeast of the JT19-090 drill hole, which previously returned 75.1 metres at 10 grams per tonne of gold, 9.4 per cent zinc and 0.6 per cent copper.
Darwin Green, President and CEO of HighGold Mining, said he is excited to launch the first serious exploration drill program at the property in 25 years.
HighGold’s work in 2019 generated numerous quality drill targets within an 800-metre radius of the high-grade Johnson Tract deposit mineral resource, several of which will be drilled for the first time this year.
“Focus is on expanding the mineral resource base and discovering new zones of mineralisation, with early emphasis given to the Northeast Offset target where limited drilling by previous operators identified what is believed to be the fault-displaced continuation of the deposit,” he added.
HighGold Mining (HIGH) is currently steady at C$1.77 per share at 10:16am EDT.
