HighGold Mining Inc (CVE:HIGH) (OTCQB:HGGOF) has unveiled encouraging drill results from the first half of this year's program at its gold projects in the well-known Timmins camp in Ontario.
Around 2,500 metres (m) in 12 diamond drill holes were completed at the Munro-Croesus and Golden Mile properties before the program was suspended due to the coronavirus pandemic, the firm said.
READ: HighGold Mining releases maiden mineral resource estimate on high-grade Johnson Tract deposit
A highlight at Munro-Croesus was a vein hit 80m southeast of the historic shaft returning 29.1 grams per tonne (g/t) gold over 0.30m at a downhole depth of 90.7m in one hole.
"We are encouraged by the intersection of high-grade gold in step-out drilling at Munro-Croesus," said HighGold's president and CEO Darwin Green in a statement.
"This shows the persistence of the gold-bearing system away from the historic workings and supports our working theory for the environment in which the Croesus-type mineralization was generated.
"We look forward to continued testing of this and other high-quality targets on the property when we complete the remainder of our planned program later this year," he added.
Meanwhile, reconnaissance -style drilling at the group's first exploration program at Golden Perimeter has identified widespread gold mineralization, HighGold added.
This is over a 850m long trend, the firm said, with drill highlights including 10.3 g/t gold and 42.80 g/t silver over 0.2m. Also encountered was 4.82 g/t gold and 57.50 g/t silver over 0.3m.
The planned drill program called for a minimum of 5,000m of diamond drilling, divided between the Munro-Croesus, Golden Perimeter and Golden Mile properties.
HighGold said it aimed to complete the remaining 2,500m later this year.
The company's flagship asset is its high-grade Johnson Tract gold (zinc, copper) project in south-central Alaska, USA and it also has the Munro-Croesus gold project and Golden Mile and Golden Perimeter properties in Ontario.
Contact the author at giles@proactiveinvestors.com