The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Adds third rig, now plans at least 15,000 meters of drilling North of 60 Mining News – July 24, 2020
A drill tests a resource expansion area near the JT deposit during the 2020 program at HighGold Mining's Johnson Tract gold property on the west side of Cook Inlet, Alaska.
HighGold Mining Inc. July 22 announced that it now plans to complete at least 15,000 meters of drilling this year at its Johnson Tract Gold Project in Southcentral Alaska.
HighGold had originally planned to complete 7,000 to 10,000 meters of drilling during the 2020 program at Johnson Tract. Strong investor interest, however, resulted in a very strong financing that closed earlier this month. As a result, the company has expanded the scope of this year's work.
"With the recently announced $12 million bought deal financing HighGold has positioned itself to maximize the 2020 field season," said HighGold Mining President and CEO Darwin Green. "The accelerated exploration program, which now includes three drill rigs and 15,000 meters of planned drilling, provides an opportunity to materially advance Johnson Tract this year.
To accommodate the additional drilling a third rig is slated to arrive at the high-grade gold project during the first week of August.
"With an additional drill rig, we can test multiple target areas at the same time and rapidly follow-up on exploration success," added Green.
Situated on lands owned by CIRI, the Alaska Native Claims Settlement Act (ANCSA) regional corporation for the Cook Inlet area Southcentral Alaska, Johnson Tract hosts high-grade gold mineralization that is further enriched by silver, copper, zinc, and lead.
According to a calculation earlier this year, the JT deposit at Johnson tract hosts 2.14 million metric tons of indicated resource averaging 6.07 grams per metric ton (417,000 ounces) gold, 5.8 g/t (397,000 oz) silver, 5.85% (275.3 million pounds) zinc, 0.57% (26.8 million lb) copper, and 0.71% (37.6 million lb) lead.
HighGold has identified five key resource expansion areas at and around this high-grade deposit – JT Deposit Expansion, Northeast Offset, North Trend, Footwall Discovery, and Southwest Extension.
More information on these target areas can be found at HighGold drilling at Johnson Tract begins in the July 3 edition of North of 60 Mining News.
In addition to drilling in and around JT Deposit, HighGold's technical teams will carry out geological mapping, geochemical sampling, and geophysical surveys aimed at developing new drill targets on the 21,000-acre (8,500 hectares) Johnson Tract property, which covers a series of underexplored regional prospects that span a roughly 7.5-mile- (12 kilometers) long mineralized trend.
One such prospect is Difficult Creek, which lies about three miles (five kilometers northeast of JT deposit that was tested with two holes in the 1990s.
DC-001, cut three meters of 7.54 g/t gold, 3.72% zinc, 0.11% copper, 1.15% lead, and 27.4 g/t silver; and DC-002 encountered 13 meters of 8.57 g/t gold, 4.7% zinc, 0.5% copper, 0.9% lead, and 37.7 g/t silver.
Limited reconnaissance work in 2019 discovered a new vein system at Difficulty Creek. Chip samples collected from there returned up to 22.1 g/t gold, 1.1% copper, and 20% lead over 1.5 meters.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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