21.1 C
February 23, 2024
Mining Africa News
Featured Featured Mining

HighGold Mining Announces US$9 million 2022 Exploration Program at Johnson Tract Project, Alaska – Yahoo Finance

VANCOUVER, British Columbia, May 31, 2022–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) ("HighGold" or the "Company") is pleased to announce plans for a US$9 million exploration program (the "Program") for the 2022 field season at the Johnson Tract polymetallic Gold Project ("Johnson Tract", "JT" or the "Project") in Southcentral Alaska, USA. The Project hosts the high-grade JT Deposit with a 0.75moz indicated resource at 10.9 g/t gold equivalent ("AuEq"). An updated and expanded mineral resource for the JT Deposit is expected to be delivered before the end of the second quarter 2022 and will incorporate 27,000 meters of drilling from the 2020 and 2021 drill programs.
2022 Johnson Tract Exploration Program Strategy
A minimum of 13,000 meters of diamond drilling allocated to test the following:
JT Deposit (Approx. 35% of meters) – focused step-out and infill drilling on the mineral resource footprint, including follow-up on successful down-plunge and on strike expansion drill holes completed in 2021 including. 4.3m grading 20.0 g/t AuEq (see Company press release dated September 14, 2022)
DC Prospect Discovery in 2022 (Approx. 35% of meters) – follow-up drilling of the exceptionally high-grade, late season drill discovery, of 6.4m grading 577.9 g/t Au and 2,023 g/t Ag (included 1.26m at 2,860 g/t Au and 9,990 g/t Ag plus 1.5m at 60.7 g/t Au and 220 g/t Ag; see Company press release dated October 6, 2021)
Milkbone Prospect, Priority Target (Approx. 20% of meters)– first time testing of high-grade soil geochemistry and boulder samples (up to 8.3 g/t Au and 184 g/t Au respectively) at the Milkbone Prospect and the 1.2 km long northeast trending mineralized corridor between the Milkbone and DC prospects
Other Johnson District prospects (Approx. 10% of meters) – including Kona, Easy Creek and South Valley.
Preparations well underway to open camp mid-June with drilling to commence shortly thereafter
Commissioning of an onsite sample preparation facility for crushing and pulverizing drill core samples, which will significantly reduce assay turn-around time and enable more efficient follow-up of positive results during the 2022 drill program
Preliminary engineering and environmental baseline studies to support Project planning
Geological mapping, prospecting, and soil & rock sampling programs to follow-up and expand on the positive results generated from the 2021 program and refine drill targets coupled with Drone-Magnetic airborne surveying
"After drilling one of the best drill intersections globally in 2021*, we are poised to have drills turning to follow-up on our exciting new high-grade discovery at the DC Prospect," commented Darwin Green, President and CEO. "Our priority objectives and allocation of capital for the 2022 drill program are: i) continued expansion of the JT Deposit; ii) definition of one or more new deposits within the DC-Milkbone prospect area; and iii) make a further discovery on one of the regional targets. We are particularly excited about getting back to the new DC discovery with additional drilling and to the Milkbone prospect where we had the highest gold grade in soil samples anywhere on the property to date. With C$19.5 million in working capital, HighGold is fully funded for the planned program." Click here for additional comments from CEO Darwin Green.
2022 Program Details
Preparations are underway to open the JT camp mid-June and to commence drilling shortly thereafter. The Program will start with two (2) drill rigs, with plans to add a third should another drill rig become available. The current drill plan contemplates approximately one-third of the total meters dedicated to expansion and infill of the JT Deposit and immediately surrounding targets, and two-thirds dedicated to the DC-Milkbone Corridor and other Johnson District prospects.
About the Johnson Tract Gold Project
Johnson Tract is a poly-metallic (gold, copper, zinc, silver, lead) project located near tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. The 21,000-acre property includes the high-grade Johnson Tract Deposit ("JT Deposit") and at least nine (9) other mineral prospects over a 12-kilometer strike length. HighGold acquired the Project through a lease agreement with Cook Inlet Region, Inc. ("CIRI"), one of 12 land-based Alaska Native regional corporations created by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by more than 9,100 shareholders who are primarily of Alaska Native descent.
Mineralization at Johnson Tract occurs in Jurassic-age intermediate volcaniclastic rocks and is characterized as epithermal-type with submarine volcanogenic attributes. The JT Deposit is a thick, steeply dipping silicified body (20m to 50m average true thickness) that contains a stockwork of quartz-sulphide veinlets and brecciation, cutting through and surrounded by a widespread zone of anhydrite alteration. The Footwall Copper Zone is located structurally and stratigraphically below JT Deposit and is characterized by copper-silver rich mineralization.
The JT Deposit hosts an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent ("AuEq") comprised of 6.07 g/t Au, 5.8 g/t Ag, 0.57% Cu, 0.80% Pb and 5.85% Zn. The Inferred Resource of 0.58 Mt grading 7.16 g/t AuEq is comprised of 2.05 g/t Au, 8.7 g/t Ag, 0.54% Cu, 0.33% Pb, and 6.67% Zn. Reported mineral resources are based on drill holes completed to the end of 2019. Approximately 27,000 meters of new drilling have subsequently been completed and a new resource estimate is anticipated Q2 2022. For additional details see NI 43-101 Technical Report titled "Updated Technical Report for the Johnson Tract Project, Alaska" dated August 9, 2021 authored by Ray C. Brown, CPG, and James N. Gray, P.Geo. Gold Equivalent is based on assumed metal prices and 90% recovery for Au, Ag, Cu, Pb, and Zn. Assumed metal prices for the Resource are US$1350/oz for gold (Au), US$16/oz for silver (Ag), US$2.80/lb for copper (Cu), US$1.00/lb for lead (Pb), and US$1.20/lb for zinc (Zn) and are based on nominal 3-year trailing averages as of April 1, 2020. Historical metallurgical testing on drill core samples has indicated that good gold and base metal recoveries and marketable concentrates can be expected.
Prior to HighGold, the Project was last explored in the mid-1990s by a mid-tier mining company that evaluated direct shipping material from Johnson to the Premier Mill near Stewart, British Columbia.
About HighGold
HighGold is a mineral exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in accessible Southcentral Alaska, USA. The Company also controls one of the largest junior gold miner land positions in the Timmins, Ontario gold camp. This includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold’s experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
Ian Cunningham-Dunlop, P.Eng., Senior VP Exploration for HighGold Mining Inc. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
On Behalf of HighGold Mining Inc.
"Darwin Green"
President & CEO
For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com
*Drill hole DC21-010 from the DC Prospect was ranked as the third best drill hole in 2021 amongst TSX listed companies by Opaxe. Opaxe is an independent Australian mining database company that compiles the best drill intersections reported around the world and then ranks them based on gold equivalent grams per tonne using prevailing metal prices. Visit www.opaxe.com for additional information on AuEq parameters.
The Company has a robust QAQC program that includes the insertion of blanks, standards and duplicates.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned drill program are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005321/en/
Darwin Green, President & CEO or Naomi Nemeth, VP Investor Relations
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Email: information@highgoldmining.com.
Website: www.highgoldmining.com
Twitter : @HighgoldMining
Related Quotes
KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) ("KORE" or the "Company") is pleased to announce completion of a highly productive 2021-2022 winter exploration field season and provides a summary of the western drill targets of the Imperial Gold Project ("Imperial"). This release summarizes the geologic context for the five western targets: Ogilby, Powerline Discovery Outcrop, Ironwood, Smoketree, and East Mesquite (Figure 1), which are in the western exploration target area between the Imperial de
Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce the geological team has mobilized to kick-off the field season at the Big Red project located 70 kilometers north-northwest of the Galore Creek deposit in the golden triangle of northwest British Columbia, Canada. In addition, Libero Copper has completed the interpretation of the detailed airborne magnetic and radiometric survey data over the Terry porphyry Cu-Au discovery area. Processing of the radiome
Yahoo Finance Live looks at several stocks tied to leading industry stories, including how Chinese stocks are recovering from China's COVID lockdowns.
Despite being not yet operational, and having no revenue to its name (much less profits), Lithium Americas stock has had a terrific run as investors bid up lithium assets in anticipation of booming demand for the metal, which is used to make the batteries that power electric vehicles. With lithium currently priced at $60,000 a ton, Goldman sees that slipping 10% to $54,000 later this year — a pothole that precedes a bigger fall off a cliff. By next year, the banker believes, lithium prices will average just $16,000, a staggering 73% decline from present-day prices.
Technology companies that provide a real value for the economy will stand apart from those that benefited from pandemic-era hype.
Grantham remains ultra bearish. But this trio may offer some protection.
Experts are worried about this asset. But Suze still likes it.
What to make of the markets right now? Stocks finished the last full week of May with gains. The S&P 500 pulled back from the bear-market territory by gaining 6% for the week and moderating its year-to-date loss to 13%. The NASDAQ remains low, at a 23% year-to-date loss. It’s all a reminder that while markets are falling this year, the true key to understanding them is volatility. It’s natural at times like this to turn to the financial experts – traders who’ve risen to prominence through long-t
Shares of MicroStrategy (NASDAQ: MSTR), a cloud-based analytics company, were flying high today on no company-specific news. Investors were instead likely reacting to the rising price of Bitcoin as the value of the cryptocurrency is on the rise. MicroStrategy holds well over 100,000 Bitcoin tokens, so its shareholders react strongly to the price of the cryptocurrency.
Shares of Amazon.com Inc. charged 5.7% higher to $2,435.01 in afternoon trading, to put them on track for a fourth-straight gain. The ecommerce and cloud behemoth's stock has soared 17.0% in the four days since it closed at $2,082.00 on May 24, which was the lowest close since April 9, 2020. That would be the stock's best four-day performance since it ran up 17.9% over the four-day stretch that ended April 16, 2020. Amazon
Shares of Amazon (NASDAQ: AMZN) were up more than 2% in early trading Tuesday, defying the Nasdaq Composite index, which opened in negative territory and is down nearly 80 basis points as of this writing. Sure, Amazon has been beaten down along with many other high-growth tech stocks that trade at high multiples of near-term earnings. Last week, Amazon shareholders officially approved the company's 20-for-1 stock split, which was first announced back in early March.
Investors slapping a few dollars down on DraftKings (NASDAQ: DKNG) stock Tuesday didn't make the best pick. Tuesday morning, Citigroup's Jason Bazinet gave his DraftKings price target a 20% haircut. In his new research note on the company, Bazinet wrote that his modification is based on a slight decline in DraftKings' active accounts, and a lower target enterprise value per account.
Looking to buy the dip? Start here.
Shares of precious metals miner Gold Fields (NYSE: GFI) fell as much as 23% at the open of trading on May 31. Meanwhile, Yamana Gold (NYSE: AUY) rose around 12%. The basics of the acquisition are that Gold Fields will buy Yamana in an all-stock deal.
Ark Innovation has dropped 54% this year but has enjoyed inflow of $1.2 billion over the past six months.
After 7 weeks of straight losses, the markets went into the long weekend on positive note: their best single week since 2020. The S&P 500 added more than 6% wiping away its losses from the month of May. The sudden drop in value, combined with the even more sudden bullish shift, even if it is temporary, has brought out the discount shoppers of the equity world. ‘Buy the dip’ is a real thing, and frequently successful path toward long-term portfolio gains, and the current environment is ripe for t
Shares of the Chinese electric vehicle (EV) maker Nio (NYSE: NIO) hit the gas today as investors processed the news that China is implementing a tax cut for new car purchases and that the government will offer a cash subsidy for people who buy a battery-powered car. Additionally, a positive analyst's note about the company could be boosting investor sentiment. China's economy has been hurt by the country's strict "zero-COVID" policy, which has caused many cities and factories to shut down.
In the late 1960s and early 1970s, my father had a stockbroker friend through whom he bought shares, mostly in blue-chip drug companies that he admired. At various times, he owned Bristol Myers (BMY) Glaxo , Pfizer (PFE) and Schering-Plough.
A strange thing happens when the market takes a downward turn. Many amateur investors take their ball and go home. According to a survey by Bankrate.com, only 18% of adults in the U.S. will invest more in 2022 than they did in 2021.
Warehouse clubs took on a position of importance during the pandemic. When some items were in short supply, Costco and rival Walmart's Sam's Club became essential to people's lives. Sampling went away and people stopped shopping at Costco and Sam's Club just to see what merchandise they might have.


Related posts



Marampa Mines loads first shipment of iron ore for export from Sierra Leone


Petrofac awarded three-year wells contract by i3 – WorldOil


Leave a Comment