The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Resource shows thick zones of easily mineable mineralization North of 60 Mining News – July 15, 2022
A drill tests the JT Deposit during HighGold Mining's 2021 program at the Johnson Tract property in Southcentral Alaska.
HighGold Mining Inc. July 12 announced a 40% increase in the gold-equivalent resource at the JT deposit on the company's Johnson Tract property in Southcentral Alaska.
According to the new calculation, JT deposit hosts 3.49 million metric tons of indicated resource averaging 5.33 grams per metric ton (598,000 ounces) gold, 6 g/t (673,000 oz) silver, 5.21% (400.8 million pounds) zinc, 0.59% (43.1 million lb) copper, and 0.67% (51.5 million lb) lead.
Including the value of all the metals into gold equivalency, this comes to 1.05 million oz of indicated resource averaging 9.39 g/t gold-equivalent.
"We are delighted to establish a high-grade indicated resource of more than 1 million ounces gold equivalent at Johnson Tract," said HighGold Mining CEO Darwin Green.
The deposit also hosts 706,000 metric tons of inferred resource averaging 1.36 g/t (31,000 oz) gold, 9.1 g/t (207,000 oz) silver, 4.18% (65.1 million lb) zinc, 0.59% (9.2 million lb) copper, and 0.3% (4.7 million lb) lead.
HighGold reports that the indicated resources within the JT deposit average around 40 meters in horizontal width, which is roughly 10 times the mineable width of most high-grade gold deposits.
JT also happens to be ideally situated for underground mining, with potential lateral development from a valley floor leading to the deepest and highest grades early in mining and gravity-assisted bottom-up mining from there.
"The JT Deposit stands well above the crowd for grade, thickness, and a geometry which will enable lower-cost mining. It also benefits from being close to tidewater with CIRI Alaska Native Corporation land title and strategic energy metal co-products. In concert with recent metallurgical results, this new resource provides an excellent foundation for future engineering and economic studies," Green added. "Meanwhile, with drills back turning on the project, we look forward to continuing to expand the JT Deposit and test several other targets in the extensive exploration pipeline at Johnson Tract, including the exciting high-grade DC and Milkbone prospects."
The US$9 million exploration program at Johnson Tract is slated to include 13,000 meters of drilling primarily focused on the three targets mentioned by Green. HighGold will also be commissioning an onsite sample preparation facility for crushing and pulverizing drill core samples, which is expected to significantly reduce assay turn-around time and enable more efficient follow-up of positive results during the 2022 drill program
In addition to drilling, the company plans to conduct preliminary engineering and environmental baseline studies to support project planning and future economic evaluation work.
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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