North of 60 Mining News - The mining newspaper for Alaska and Canada's North

HighGold Mining Inc. Nov. 29 reported that one hole drilled this year at JT cut 120.5 meters averaging 18.76 grams per metric ton gold, the best intercept ever encountered at the namesake deposit on the company's Johnson Tract project in Southcentral Alaska.

According to a calculation completed earlier this year, JT deposit hosts 3.49 million metric tons of indicated resource averaging 5.33 g/t (598,000 ounces) gold, 6 g/t (673,000 oz) silver, 5.21% (400.8 million pounds) zinc, 0.59% (43.1 million lb) copper, and 0.67% (51.5 million lb) lead.

Including the value of all the metals into gold equivalency, this comes to 1.05 million oz of indicated resource averaging 9.39 g/t gold-equivalent.

This year, HighGold drilled five holes at JT focused on gaps between inferred resource domains and step-out holes at depth. Highlights from this drilling include:

• 9.3 meters averaging 7.18 g/t gold, 2.8 g/t silver, 0.22% copper, and 5.57% zinc from a depth of 298 meters in hole JT22-148.

• 5.3 meters averaging 0.65 g/t gold, 20 g/t silver, 1.72% copper, and 0.57% zinc from a depth of 212 meters in hole JT22-149.

• 120.5 meters averaging 18.76 g/t gold, 6 g/t silver, 0.55% copper, and 3.86% zinc from a depth of 208 meters in hole JT22-152.

"The exceptional results of drill hole JT22-152 underscore the highly attractive combination of large intervals of high-grade mineralization that characterize the JT Deposit, which consists of a thick, oblate body of stockwork veining and breccia," said HighGold Mining President and CEO Darwin Green. "The area of the mineral deposit that was tested by this hole would be the first area accessed in a conceptual underground mining scenario involving horizontal ramp access from a valley floor adit."

Click on image for larger map.

JT22-152 was drilled parallel to the long axis of the deposit, instead of across the 50- to 60-meter breadth of the deposit in this area, to test the theory that the southern edge JT deposit may be bounded by an east-east west cross fault, possibly offsetting the deposit in this area, as well as to test for high-grade vein orientations within the JT Deposit that may have been missed or under-represented in previous drilling.

"In addition to documenting higher grade gold, the northeast orientation of drill hole JT22-152 has also allowed HighGold to test – and confirm – that the southern edge of the JT Deposit is bounded by a cross-fault," Green added. "This opens-up the potential for additional displaced mineralization to continue further to the south than previously thought."

Overall, HighGold completed 10,346 meters of drilling in 55 holes at Johnson Tract this year – assays are pending from 36.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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