Article content material
HighGold Mining Inc. (TSX-V: HIGH, OTCQX: HGGOF) (“HighGold” or the “Firm”) is happy to announce the enlargement of the Firm’s Timmins regional land holdings and to offer an exploration replace on the Timmins properties. Current declare staking and acquisition (the “Acquisition”) has expanded the Firm’s commanding land place by 25% to 335 sq. kilometers.
Article content material
“This acquisition builds on HighGold’s imaginative and prescient of making one of the crucial dominant land positions within the Timmins gold camp,” commented CEO Darwin Inexperienced. “Our focus is underexplored parts of this world class gold atmosphere underpinned by high-potential geology. The Timmins property present shareholders with publicity to low-cost greenfield exploration within the shadow of headframes that’s complimentary to the Firm’s flagship Johnson Tract high-grade gold challenge, Alaska.”
Timmins Property Acquisition
The brand new Acquisition consists of 255 strategically positioned mining claims overlaying 56 sq. kilometers (22 sq. miles) within the coronary heart of the Timmins gold camp that ties onto the Firm’s present Timmins South mining claims and borders Newmont’s Dome mine property located seven kilometers to the northwest (Determine 1). The Timmins South property contains a number of well-known high-grade gold occurrences. On the Bay Lake gold exhibiting, a 12-meter shaft was sunk within the Thirties on a 1.37m vast quartz vein which returned composite samples of 150.8 g/t Au, 43.2 g/t Au and 35.17 g/t Au and historic seize* samples of 766.2 g/t Au and 229.7 g/t Au (Reference Ontario Geological Survey Stock Report MDI42A06NE0017). *Be aware – seize samples by their nature are selective and never essentially consultant of the mineralization hosted on the Property.
Further mining claims have additionally been staked and bought by the Firm that develop its Golden Mile and Munro-Croesus properties. The declare staking and acquisitions are a part of HighGold’s multi-year effort to consolidate massive, underexplored sections of the higher Timmins gold camp with beneficial geology for internet hosting gold mineralization.
HighGold, via its wholly-owned subsidiary, entered into an settlement of buy and sale (the “Settlement”) with an arm’s size vendor (the “Vendor”) to accumulate the Acquired Property. In consideration of the Acquisition and topic to TSX Enterprise Change (the “TSXV”) acceptance, the Firm has agreed to make a money cost of C$80,000 to the Vendor and to problem 160,000 widespread shares (the “Consideration Shares”), with half the money cost and Consideration Shares payable on signing and half payable on the 1st anniversary. Pursuant to the Settlement, the Acquired Property is topic to a web smelter returns royalty in favour of the Vendor, a portion of which can be purchased again by the Firm.
Article content material
Timmins Exploration Replace
Present exploration plans for the Firm’s Timmins initiatives embody low-cost subject surveys designed to develop and refine drill targets. The Firm is taking a disciplined strategy to capital allocation below the present market situations, with the target of meaningfully advancing the understanding of prospects in preparation for drilling at a future date. Fieldwork has included geological mapping, prospecting, and rock sampling on the Munro-Croesus and Timmins South initiatives. Emphasis has been on prospects with identified historic exploration shafts and potential stratigraphy and the discoveries made throughout the winter Munro Croesus drilling program.
Modeling, inversion, and interpretation of knowledge is ongoing for a 63-line km DCIP floor geophysical survey accomplished at Munro-Croesus throughout the winter. Preliminary outcomes spotlight a number of chargeability and resistivity anomalies that warrant follow-up work, together with chargeability highs which can be coincident with, and alongside pattern from, the brand new Argus Zone.
On the Firm’s Golden Mile challenge, an 85-line km overwater seismic survey was lately accomplished on Frederickhouse Lake to map the depth of the sediment and bedrock to assist drill planning and interpretation of bedrock geology and buildings. Frederickhouse Lake is a big, shallow (2-4 meters deep on common) man-made lake overlaying potential geology on the intersection of the Pipestone Fault and the Timmins Mine pattern. Drilling will be performed by barge in summer time or by ice in winter.
Recap of 2022 Munro-Croesus Winter Drill Program and Ultimate Drill Outcomes
The 2022 Winter Drill Program at Munro-Croesus was accomplished in early April with a complete of seven,401 meters drilled in 33 holes. Highlights embody the invention of near-surface bulk tonnage fashion gold mineralization on the new Argus Zone and the intersection of latest high-grade quartz veins close to the historic Croesus Gold Mine.
- 136m at 0.54 g/t Au, beginning at a vertical depth of 70 meters, together with 62.8m at 0.79 g/t Au, and together with 4.5m at 4.88 g/t Au in MC22-110 (see Firm information launch dated Might 9, 2022).
- 5 of six drill holes drilled on the Argus Zone intersected important intervals of mineralization which is open to enlargement in a number of instructions, together with to the west towards the intersection of the Argus Zone pattern with the regional Pipestone Fault.
Article content material
Croesus Vein Extension
- 13.40 g/t Au over 0.5m inside a broader 4.80m interval grading 3.60 g/t Au (gap MC22-96) from an intersection of the Croesus Vein, 100m northeast of the Croesus Mine (See Firm new launch dated March 20, 2022).
- 14.00 g/t Au over 0.6m inside a broader 2.60m interval grading 3.42 g/t Au (gap MC22-92) from a brand new quartz vein zone intersected 370m northwest of the Croesus Mine.
- These discoveries are a ‘proof of idea’ of the Firm’s geological and structural fashions which spotlight the potential for the Croesus Vein system to proceed to the northeast alongside a serious regional construction, and likewise that the potential Croesus Circulation might host a number of analogues to the Croesus Vein alongside strike.
The Firm has acquired all closing assay outcomes from the remaining 19 holes from the 2022 Munro-Croesus Winter Drill Program with encouraging outcomes from the first-pass drilling of 4 different prospects. Highlights embody:
- 0.29 g/t Au over 26.30m (gap MC22-99)
- 6.00 g/t Au over 0.60m (gap MC22-100)
- 0.51 g/t Au over 5.00m (gap MC22-101)
- 2.12 g/t Au over 1.50m (gap MC22-102)
- 1.92 g/t Au over 0.80m (gap MC22-103)
- 3.19 g/t Au over 0.30m (gap MC22-106)
- 4.98 g/t Au over 0.30m (gap MC22-107)
#4 Shaft Vein Extension
- 2.27 g/t Au over 0.3m (gap MC22-116)
- 2.27 g/t Au over 0.4m (gap MC22-117)
- 2.23 g/t Au over 0.5m inside a broader ‘Argus-style’ 11.0m interval grading 0.69 g/t Au (MC22-119)
- 4.42 g/t Au over 0.7m inside a broader 1.4m interval grading 2.42 g/t Au (gap MC22-122)
Concerning the Munro-Croesus Venture
The Munro-Croesus Venture is positioned alongside Freeway 101 within the coronary heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction (Determine 1). In depth land consolidation by the Firm has unified the patchwork of patented and unpatented mining claims surrounding the Croesus Gold Mine into one coherent bundle and enhanced the exploration potential of the Venture. The Venture covers 57 sq. kilometers (22 sq.miles) of extremely potential geology throughout the affect of main gold-bearing structural breaks. Multi-million-ounce bulk-tonnage gold deposits positioned within the quick area embody the Fenn-Gib Gold Venture being developed by Mayfair Gold Corp. and the Tower Gold Venture (Golden Freeway and Garrison deposits) being developed by Moneta Gold Inc.
About HighGold’s Timmins Properties
Article content material
HighGold owns 100% of every of its three Timmins properties. The Munro-Croesus Gold Venture is positioned roughly 75 kilometers (47 miles) east of Timmins, proximal to the Porcupine-Destor and Pipestone Faults, and roughly two kilometers (1.2 miles) northwest and alongside pattern of Mayfair Gold Corp.’s multi-million-ounce Fenn-Gib gold deposit. Mining occurred intermittently at Munro-Croesus between 1915 and 1936. The Golden Mile 94 sq. kilometer (36 sq. mile) property is positioned 9 kilometers (5.6 miles) northeast of Newmont’s multi-million-ounce Hoyle Pond deposit in Timmins. The Timmins South (Golden Perimeter) 184 sq. kilometer (71 sq. mile) property is positioned to the south and southeast of Timmins and surrounds the Shaw Dome geological construction.
HighGold is a well-funded mineral exploration firm targeted on high-grade gold initiatives positioned in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Venture positioned in Southcentral Alaska, USA. The Firm additionally controls a portfolio of high quality gold initiatives within the higher Timmins gold camp, Ontario, Canada that features the Munro-Croesus Gold property, which is famend for its high-grade mineralization, and the massive Golden Mile and Timmins South properties. HighGold’s skilled Board and senior administration workforce, are dedicated to creating shareholder worth via the invention course of, cautious allocation of capital, and environmentally/socially accountable mineral exploration.
Certified Particular person and High quality Assurance
Ian Cunningham-Dunlop, P.Eng., Senior VP Exploration for HighGold Mining Inc. and a certified individual (“QP”) as outlined by Canadian Nationwide Instrument 43-101, has reviewed and permitted the technical data contained on this launch.
On Behalf of HighGold Mining Inc.
President & CEO
Readers are cautioned that the Firm has no real interest in or proper to accumulate any curiosity in adjoining properties and they aren’t indicative of mineral deposits on the Firm’s properties or any potential exploration thereof.
Further notes: Beginning azimuth, dip and closing size (Azimuth/-Dip/Size) for drill holes reported right this moment are famous as follows: MC22-99 (0/66/258m), MC22-100 (0/45/303m), MC22-101 (270/45/120m), MC22-102 (270/70/234m), MC22-103 (270/45/201m), MC22-106 (270/45/258m), MC22-107 (200/45/252m), MC22-116 (210/45/81m), MC22-117 (210/45/150m), MC22-119 (210/45/351m), and MC22-122 (300/75/102m).
Article content material
Samples of drill core had been reduce by a diamond blade rock noticed, with half of the reduce core positioned in individually sealed polyurethane luggage and half positioned again within the authentic core field for everlasting storage. Pattern lengths usually fluctuate from a minimal 0.2-meter interval to a most 1.5-meter interval, with a mean 0.5 to 1.0-meter pattern size. Drill core samples had been delivered by truck in sealed woven plastic luggage to ALS Geochemistry laboratory facility in Timmins, Ontario for pattern preparation with closing evaluation at ALS Geochemistry Analytical Lab facility in North Vancouver, BC. ALS Geochemistry function assembly all necessities of Worldwide Requirements ISO/IEC 17025:2017 and ISO 9001:2015.
Gold is decided by fire-assay fusion of a 50 g sub-sample with atomic absorption spectroscopy (AAS). Samples that return values >10 ppm gold from fireplace assay and AAS are decided through the use of fireplace assay and a gravimetric end. Numerous metals together with silver, gold, copper, lead, and zinc are analyzed by inductively-0coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The weather copper, lead, and zinc are decided by ore grade assay for samples that returned values >10,000 ppm by ICP evaluation. Silver is decided by ore grade assay for samples that returned >100 ppm.
The Firm has a strong QAQC program that features the insertion of blanks, requirements, and duplicates.
Readers are cautioned that the Firm has no real interest in or proper to accumulate any curiosity in any of the neighboring mines or deposits, and that mineral deposits, and the outcomes of any mining thereof, on adjoining or comparable properties aren’t indicative of mineral deposits on the Firm’s properties or any potential exploitation thereof.
Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) settle for accountability for the adequacy or accuracy of this launch.
Ahead trying statements: This information launch contains sure “forward-looking data” throughout the that means of Canadian securities laws and “forward-looking statements” throughout the that means of the US Personal Securities Litigation Reform Act of 1995 (collectively “ahead trying statements”). Ahead-looking statements embody predictions, projections and forecasts and are sometimes, however not at all times, recognized by way of phrases resembling “search”, “anticipate”, “consider”, “plan”, “estimate”, “forecast”, “anticipate”, “potential”, “challenge”, “goal”, “schedule”, “funds” and “intend” and statements that an occasion or end result “could”, “will”, “ought to”, “might” or “may” happen or be achieved and different comparable expressions and contains the negatives thereof. All statements aside from statements of historic truth included on this launch, together with, with out limitation, statements concerning the Firm’s presently ongoing drill program and pending assays are forward-looking statements that contain numerous dangers and uncertainties. There will be no assurance that such statements will show to be correct and precise outcomes and future occasions might differ materially from these anticipated in such statements. Ahead-looking statements are primarily based on quite a few materials elements and assumptions. Essential elements that would trigger precise outcomes to vary materially from Firm’s expectations embody precise exploration outcomes, adjustments in challenge parameters as plans proceed to be refined, outcomes of future useful resource estimates, future metallic costs, availability of capital and financing on acceptable phrases, common financial, market or enterprise situations, uninsured dangers, regulatory adjustments, defects in title, availability of personnel, supplies and gear on a well timed foundation, accidents or gear breakdowns, delays in receiving authorities approvals, unanticipated environmental impacts on operations and prices to treatment identical, and different exploration or different dangers detailed herein and once in a while within the filings made by the Firm with securities regulators. Though the Firm has tried to determine vital elements that would trigger precise actions, occasions or outcomes to vary from these described in forward-looking statements, there could also be different elements that trigger such actions, occasions or outcomes to vary materially from these anticipated. There will be no assurance that forward-looking statements will show to be correct and accordingly readers are cautioned to not place undue reliance on forward-looking statements.
For additional data, please go to the HighGold Mining Inc. web site at www.highgoldmining.com, or contact:
Darwin Inexperienced, President & CEO or Naomi Nemeth, VP Investor Relations
Telephone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Electronic mail: email@example.com.
Web site: www.highgoldmining.com