'Drilling Continues to Expand Mineralization' at Alaska Project

Source: Streetwise Reports   10/26/2020

HighGold Mining’s recent drill results and current and next drill campaigns are reviewed in a Haywood report.

In an Oct. 15 research note, Haywood analyst Kerry Smith reported that “resource expansion drilling at HighGold Mining Inc.’s (HIGH:TSX.V; HGGOF:OTCQX) main Johnson Tract deposit continues to deliver high-grade mineralization in stepout holes outside of the main resource area.”

Smith reviewed the latest drill results from JT, including those from four more stepout holes of 50 meters (50m) or less. The aim of this drilling was to expand the northeast side of the deposit. Hole JT-096 returned 11.5 grams per ton (11.5 g/t) gold, 4 g/t silver, 0.5% copper and 3.1% zinc over 20.1 meters. Hole JT-095 demonstrated 10.35 g/t gold, 4.9 g/t silver, 0.51% copper, 9% zinc and 0.01% lead over 4.2m.

Other new results are from the copper discovery in the JT deposit’s footwall. Highlights of those include 2.7% copper, 1% zinc and 34 g/t silver over 14.2m, in hole JT20-096, a 45m stepout. “This footwall zone adds potential for good byproduct credits,” Smith noted.

Assays are pending for 22 more holes drilled at the JT deposit and its footwall.

A third set of assays comes from the first two of eight holes drilled at the Northeast Offset target, 500–800m to the northeast of the JT deposit. These “interesting” results, as Smith described, include 15.2% copper, 173 g/t silver and 0.8 g/t gold over 1.2m at 794m downhole, in hole JT20-094.

Smith highlighted that HighGold’s planned 2020 drill program at JT was for 15,000 meters, and to date it completed 14,000 meters. However, the company just expanded the campaign to 17,000 meters. It is still drilling now with three rigs and likely will keep drilling through the fall, weather permitting.

HighGold also has been preparing for its 2021 campaign by working to develop additional targets at other prospective areas on the property, indicated Smith. Those efforts have included completing of 1,200 soil and silt samples, taking 600 rock samples and conducting a geophysical survey of the Difficult Creek and Kona Prospect areas.

HighGold’s stock is currently trading at about CA$2.15 per share. Haywood does not have a rating or target price on HighGold.

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Disclosures from Haywood Securities, HighGold Mining Inc., October 15, 2020

Analyst Certification: I, Kerry Smith, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures
Of the companies included in the report the following Important Disclosures apply:
▪ The Analyst(s) preparing this report (or a member of the Analysts’ households) have a financial interest in HighGold Mining (HIGH-V).
▪ As of the end of the month immediately preceding this publication either Haywood Securities, Inc., one of its subsidiaries, its officers or directors beneficially owned 1% or more of HighGold Mining (HIGH-V).
▪ Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for HighGold Mining (HIGH-V) in the past 12 months.
▪ Haywood Securities Inc. or one of its subsidiaries has received compensation for investment banking services from HighGold Mining (HIGH-V) in the past 12 months.

Research policy is available here.

( Companies Mentioned: HIGH:TSX.V; HGGOF:OTCQX, )