HighGold Mining Announces Trading Debut and 2,000m Drill Program at Johnson Tract Project, Alaska USA
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2019) - HighGold Mining Inc. (TSXV: HIGH) ("HighGold" or the "Company") is pleased to announce that the Company commences trading today on the TSX Venture Exchange under the symbol TSX-V:HIGH. HighGold also wishes to provide details on a 2,000-meter drill program currently underway at the Company's flagship Johnson Tract gold project ("Johnson"), Southcentral Alaska.
HighGold is a new gold focused exploration company, highlighted by:
An exceptional portfolio of high-grade gold assets located in Alaska, USA and Timmins, Ontario, Canada, two of the most stable mining jurisdictions in the world
A very strong shareholder roster that includes mining entrepreneur Rob McEwen, a senior North American gold producer, Sprott Group in the US, mining financier John Tognetti, and Electrum, a New York based private equity fund
A senior management team that brings a wealth of experience and proven track records of success, including Darwin Green, President & CEO, Ian Cunningham-Dunlop, VP Exploration, Aris Morfopoulos, CFO, and Naomi Nemeth, VP Investor Relations
An independent Board of Directors composed of highly respected mining industry veterans, including Michael Cinnamond, Sr. VP Finance & CFO of B2Gold, Michael Gray, an experienced mining analyst, and Lance Miller PhD, VP Natural resources for NANA an Alaska Native Regional Corporation
A strong treasury with an initial public raise of C$7.65 million and seed capital of C$200,000 provided largely by the new management team.
"We are extremely pleased to begin trading on the TSX Venture Exchange and would like to thank all those who demonstrated their support in HighGold's board & management team and exceptional exploration assets by providing our initial working capital," commented HighGold President & CEO, Darwin Green. "This is an exciting time to be launching a new gold exploration company that focuses specifically on high grade mineralization as the energy returns to the gold industry. We intend to complete the current drill program on the Johnson project in the next few weeks and to be reporting assay results over the next two months. The information gained will be used to produce a NI43-101 compliant mineral resource estimate to be completed in the first quarter of 2020.
"Following the close of the Alaska field season at Johnson, we plan to become active with our gold projects in the greater Timmins gold camp, Ontario that includes the Munro-Croesus, Golden Perimeter and Golden Mile projects. While the historic Croesus Mine last produced in the 1930s, it yielded some of the highest-grade gold mined to date in Ontario and warrants systematic modern exploration. We anticipate HighGold's news flow will be continuous well into 2020 and our investor marketing program will include reaching out to current and potential investors in Canada, the United States and Europe over the next eight months. Our mandate at HighGold Mining is to be a top tier gold exploration company that creates substantial value for shareholders while maintaining a high bar for environmentally and socially responsible exploration."
For additional commentary on this new listing, click here for a Proactive Investors interview with President & CEO Darwin Green (link will be active once the stock has begun trading).
About Johnson Tract Drill Program
In late August, HighGold initiated a diamond drill program at its Alaska Johnson Tract Project that will, when complete, consist of approximately 2,000 meters of drilling (eight to ten holes). The objective of the drill program is to confirm, better define and expand the Johnson Tract deposit, which was previously drilled from1982 to 1993. HighGold will use the data from this new drill program, in combination with historic drill data, to generate the first NI43-101 compliant mineral resource for Johnson. Additional work on the project includes geological mapping, prospecting and soil and rock sampling at other prospect areas.
The 21,000-acre Johnson Tract property is located near tidewater, 125 miles (200 kilometers) southwest of Anchorage. It includes the very high-grade Johnson Tract Gold (Zn-Cu) deposit along with excellent exploration potential indicated by several other prospects over a 12 km strike length. This project was last explored in the mid-1990s by a mid-tier mining company that evaluated direct shipping ore from Johnson to the Premier Mill near Stewart, British Columbia. HighGold acquired Johnson through a lease agreement with CIRI, an Alaska Native Regional Corporation that is one of the largest private landowners within the Cook Inlet region.
HighGold is a mineral exploration company focused on premier high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in south-central Alaska, USA, acquired as part of a lease agreement with CIRI, an Alaska Native regional corporation. The Company also controls an extensive portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its exceptionally high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold's experienced Board and senior management team, are committed to providing shareholder value through discovery, careful stewardship of capital, and environmentally and socially responsible mineral exploration activities.
More information about HighGold can be found in the Listing Application available on HighGold's SEDAR profile at www.sedar.com.
On Behalf of HighGold Mining Inc.
President & CEO
For further information please contact:
Darwin Green, President & CEO or Naomi Nemeth, VP Investor Relations
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
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 expected commencement of trading on the Exchange, the intended use of proceeds from the Private Placement, the Johnson Tract and Canadian gold projects and other future plans, objectives or expectations of the Company 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48015