High Gold releases encouraging drill result from East Timmins property

HighGold Mining Inc. has announced positive drill results from the first half of a 2020 drill program on its gold projects east of Timmins. Twelve drill holes for 2,524 meters of diamond drilling were completed at the Munro-Croesus and Golden Mile properties prior to the Program being suspended due to COVID-19 restrictions. The Company intends to complete the remaining 2,500 meters of planned drilling later this year. 

"We are encouraged by the intersection of high-grade gold in step-out drilling at Munro-Croesus," said HighGold President & CEO Darwin Green. "This shows the persistence of the gold-bearing system away from the historic workings and supports our working theory for the environment in which the Croesus-type mineralization was generated. We look forward to continued testing of this and other high-quality targets on the property when we complete the remainder of our planned program later this year."

Munro-Croesus Highlights

• Croesus-like vein intersected 80-meters southeast of the shaft returning 29.1 grams per tonne gold ("g/t Au") over 0.30 m at a downhole depth of 90.7 meters in hole MC20-33

• The observed vein in MC20-33 was 30-meters down-dip of historic drill intersections of 76.42 g/t Au over 0.10 meters and 69.59 g/t Au over 0.15 meters that collectively define a well mineralized vein structure with similar orientation to the main Croesus vein located on the north side of the Croesus fault.

• Hole MC20-33 is the only completed and sampled hole of the 2020 program to have tested this vein structure, which may represent the fault offset equivalent of the mined-out Croesus vein. Future drilling will test areas where this vein has the potential to expand into wider, bonanza-grade type mineralization for which the mine was known.

• Two of the six holes completed at Munro-Croesus were unable to be logged or sampled prior to the COVID-19 shutdown; this work will be completed when it is practical to do so.

Golden Perimeter Highlights

• Reconnaissance-style drilling at the Company's first exploration program at Golden Perimeter has identified widespread gold mineralization over an 850-meter long trend consisting of gold ± silver bearing quartz veins in a variable altered and pyritic monzonite intrusion, including:
   
  • 10.30 g/t Au and 42.80 g/t Ag over 0.2 meters
  • 2.30 g/t Au over 0.9 meters
  • 0.50 g/t Au over 4.7 meters 
  • 4.04 g/t Au over 0.3 meters
  • 4.82 g/t Au and 57.50 g/t Ag over 0.3 meters

 

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