The updated MRE (previous estimate Q2-2020) is based on new diamond drilling completed by the Company in the second half of 2020 and 2021.
JT Deposit Mineral Resource Highlights
Updated Indicated Resource - 3.49 million tonnes ('Mt') grading 9.39 g/t gold equivalent ('AuEq') for 1,053,000 oz AuEq
Updated Inferred Resource - 0.71 Mt grading 4.76 g/t AuEq for 108,000 oz AuEq
Growth - 40% increase in Indicated AuEq ounces and 54% increase in total tonnes (+60% Ind and -19% Inf) over the 2020 MRE
High Confidence - 91% of the total AuEq ounces in the Indicated Resource Category
Peer-Leading Thickness - Indicated resource averages 40-meter horizontal width, roughly 10 times the mineable width of most high-grade (+5 g/t) underground gold deposits
Ideal Geometry for Low-Cost Methods of Underground Mining - thick, subvertical deposit with potential for lateral development from the valley floor to access the deepest and highest-grade portions of the deposit first and for gravity-assisted, bottom-up mining
Excellent Metallurgy - high metal recoveries, including global gold recovery up to 97%, utilizing conventional processing at a coarse grind size
Expansion Potential - open to expansion along strike/down-dip/down-plunge with numerous high-priority property-wide targets including the
'We are delighted to establish a high-grade Indicated Resource of more than 1 million ounces gold equivalent at Johnson Tract,' commented CEO
About the
Johnson Tract is a poly-metallic (gold, copper, zinc, silver, lead) project located near tidewater, 125 miles (200 kilometers) southwest of
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.
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
About HighGold
HighGold is a well-funded mineral exploration company focused on high-grade gold projects located in
Contact:
Tel: 1-604-629-1165
Email: information@highgoldmining.com
Web: www.highgoldmining.com
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 2022 exploration plans and potential future engineering and economic studies 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.
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