40% Increase in Indicated Gold Equivalent (AuEq) ounces
HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) is pleased to announce an updated NI43-101 mineral resource estimate (“MRE”) for the Johnson Tract Deposit (“JT Deposit”) at the Company’s Johnson Tract polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”) located in coastal Southcentral Alaska, USA. 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 (Table 1 and Figure 1).
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 (See Company news release dated April 29, 2020)
- 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 (See Company news release dated June 22, 2022)
- Expansion Potential – open to expansion along strike/down-dip/down-plunge with numerous high-priority property-wide targets including the Difficult Creek (“DC”) and Milkbone prospects
