Highgold Mining Inc. [HIGH-TSXV; HGGOF-OTCQX] reported new assay results from the 2020 exploration drilling program at its flagship Johnson Tract polymetallic gold project in south-central Alaska. Results reported today include drill intersections that continue to expand the down-plunge and up-plunge extents of the JT deposit (JT) and also demonstrate the continuity of the deeper footwall copper-silver zone (FCZ).
Drill hole JT-20-120 at the JT expansion down plungereturned 11.0 metres at 8.6% zinc and 0.4% copper (5.9 g/t gold equivalent – AuEq), including 5.0 metres at 12.0% zinc and 0.3% copper (7.9 g/t AuEq).
Drill hole JT20-121 at the JT expansion up plunge returned 18.3 metres at 5.9% zinc, 64 g/t silver and 0.1% copper (5.2 g/t AuEq), including 4.0 metres at 9.5% zinc, 278 g/t silver and 0.2% (10.0 g/t AuEq).
Drill hole JT20-110 at the Footwall copper-silver zone expansion returned 12 metres at 2.8% copper and 51 g/t silver (5.0 g/t Au/Eq), within 58.6 metres at 1.0% copper and 21 g/t silver (2.2 g/t AuEq).
“We continue to be encouraged by the continuation and strength of the JT deposit mineral system at depth and by the emergence of the footwall copper-silver zone, a new area of copper-silver-rich mineralization with resource potential that contributes to the overall metal endowment at Johnson,” commented President and CEO Darwin Green. “The current batch of drill results are base metal dominant and highlight the presence of copper- and zinc-rich domains within the polymetallic gold-rich JT deposit.
“Drilling in 2020 significantly expanded the JT deposit footprint with stepouts from the indicated mineral resource of 750,000 ounces AuEq (417,000 ounces Au plus Zn, Cu, lead [and] Ag) at a grade of 10.9 g/t AuEq (6.1 g/t Au) over true thickness of 20 to 50 metres. As new data is received, Highgold’s geological and structural model continues to evolve. Based on the new data, it appears that a significant portion of the mineral system is open to expansion down plunge and is not cut off at depth as interpreted by previous operators. With approximately $18-million in the treasury, the company is fully funded to further test the limits of these zones and other targets in 2021.”
The 2020 drill program totalled 16,418 metres in 32 completed drill holes. Assays remain outstanding for 12 drill holes.