HighGold Mining Inc (CVE:HIGH) (OTCMKTS:HGGOF) reported encouraging exploration results on Wednesday from its flagship Johnson Tract gold project in Alaska.
The findings come from surface rock sampling last year and historic drill core re-sampling from the Difficult Creek prospect at the deposit, which is one part of a 21,000 acre land package.
The aim of the rock sampling was to test and extend known prospects, identify new zones and develop other drill targets for 2020.
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"High-grade mineralization at Difficult Creek is similar in character to the main Johnson Tract Deposit located 4.5 km to the southwest and highlights the potential for multiple deposits on the district-scale land package," noted HighGold's president and chief executive Darwin Green.
"We are particularly encouraged by the discovery of a new vein zone and the widespread extent of mineralization."
The new vein zone at Difficult Creek (DC) showed a grab sample of 2.58 grams per ton (g/t) gold, and 102 g/t silver.
Meanwhile, a highlight grab sample from Middle DC showed 50.1 g/t gold, 97 g/t silver, 5.2% copper, 6.0% zinc and 20% lead.
Green continued: "We look forward to testing the DC Prospect along with other major drill targets located in and around the Johnson Tract Deposit during the 2020 field season, which we anticipate will begin in late May to early June.
"HighGold is well-financed for an aggressive field program at Johnson and will issue more detail when plans have been finalized. Meanwhile, HighGold anticipates drills to be turning on its Timmins, Ontario gold properties before month-end."
The re-sampling of DC Prospect drill core from 1983 threw up 4.6 meters at 9.33 g/t gold, 4.5% zinc and 0.5% copper from one hole, within 36.5 meters grading 3.04 g/t gold, 1.9% zinc and 0.2% copper.
Development of a three-dimensional (3D) geological model for the JT deposit is now underway with the aim of completing an initial NI43-101 mineral resource estimate in the next two to three months, said HighGold.
The firm will also be reviewing all data to prepare a detailed drilling plan for the 2020 field season.
Contact the author at giles@proactiveinvestors.com