HighGold Mining Commences 5000-Meter Winter Drill Program on Timmins Area Gold Projects
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2020) - HighGold Mining Inc. (TSXV: HIGH) (OTCQB: HGGOF) ("HighGold" or the "Company") is pleased to report the start-up of the 2020 winter drill program (the "Program") on its three gold properties located in the Timmins gold camp, Ontario. The Program plans for 5,000 meters of diamond drilling utilizing two drill rigs on the Company's Munro-Croesus, Golden Perimeter and Golden Mile properties.
The Program will be targeting: 1) known zones of high-grade gold mineralization; 2) areas of surface geochemical and geophysical anomalies; 3) flexures along major regional structural breaks which are known to host gold within the greater Timmins gold camp; and 4) potential intrusive-related gold prospects.
Particular emphasis will be given to the Munro-Croesus property and its historically mined, high-grade gold mineralization. Past diamond drilling by the previous owners in 2011 intersected 18.79 g/t Au over 4.1 meters in the hanging wall to the mined Croesus Vein and recent geological interpretative work by HighGold indicates there may be an opportunity to identify unmined portions of the historic Croesus Vein within close proximity of surface. The Company also plans to drill test other gold bearing quartz vein systems mapped on the Munro-Croesus property as it develops a property-scale exploration model. The majority of these vein systems have had no prior drilling.
For additional detail on the Timmins properties and the 2020 drill program, click here for a Proactive Investors interview with HighGold CEO Darwin Green.
About HighGold's Timmins Properties
HighGold owns 100% of each of its three Timmins properties. The Munro-Croesus Gold Project is located approximately 75 kilometers (47 miles) east of Timmins, is proximal to the Porcupine-Destor and Pipestone Faults, and located approximately three kilometers (1.9 miles) northwest and along trend of Pan American Silver's multi-million ounce Fenn-Gib gold deposit. Mining occurred intermittently at Munro-Croesus between 1915 and 1936. The Golden Mile 86 square kilometer (33 square mile) property is located nine kilometers (5.6 miles) northeast of Newmont's multi-million-ounce Hoyle Pond deposit in Timmins. The Golden Perimeter properties (two blocks) are located to the south and southeast of Timmins on the south edge of the Shaw dome structure.
HighGold is a mineral exploration company focused on 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. The Company also controls a 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 high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold's experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
On Behalf of HighGold Mining Inc.
President & CEO
Ian Cunningham-Dunlop, P.Eng., VP Exploration for HighGold Mining Inc. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com, or 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 future Johnson Tract exploration, the Company's Canadian gold projects and other future plans, objectives or expectations 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/52810