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HighGold Mining Announces Trading Debut, 2,000 Meter Drill Program at Johnson Tract Project

Sep 25, 2019 | Monitor

VANCOUVER, BRITISH COLUMBIA—HighGold Mining Inc. announced that the company commenced trading on the TSX Venture Exchange under the symbol TSX-V:HIGH. The company also provided details on a 2,000-meter drill program currently underway at the its flagship Johnson Tract gold project in Southcentral Alaska. 

HighGold is a new gold focused exploration company, highlighted by:

 

  • A portfolio of high-grade gold assets located in Alaska and Timmins, Ontario, two of the most stable mining jurisdictions in the world

 

  • A 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 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 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

 

  • A treasury with an initial public raise of $7.65 million (Canadian) and seed capital of $200,000 (Canadian) provided largely by the new management team

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“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.”

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For additional commentary on this new listing, click here (https://youtu.be/fEfWoc-rg9o) for a Proactive Investors interview with President & CEO Darwin Green (link will be active once the stock has begun trading).

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 from 1982 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, one of the largest private landowners within the Cook Inlet region.

Alaska Business Magazine October 2019

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