HighGold Mining (TSXV:HIGH) Reports Assay Results From Ellis Zone Discovery, Intersecting 15.5 Meters at 4.04 g/t Gold Equivalent

HighGold Mining (TSXV:HIGH) has reported new assay results from 2022 drilling at the Ellis Zone discovery at the Difficult Creek Prospect. These are the third and final batch of results from the project, which is located four kilometres northeast of the 1.005 Moz indicated at 9.4 g/t gold equivalent JT Deposit. This is one of many district-scale prospects HighGold Mining is exploring in Southcentral Alaska on the Johnson Tract project.

The diamond drilling completed during the second half of the 2022 summer field season was focused on systematically stepping out along strike and at depth on the Ellis Zone on 25 to 50-meter centres. The new drilling has returned strong mineralization west and down-plunge of recently released results and includes 15.5m at 4.04 g/t AuEq, including 1.5m at 26.24 g/t AuEq, in hole DC22-056, and 16.1m at 3.07 g/t AuEq, including 3.0m at 7.84 g/t AuEq, in hole DC22-060.

Darwin Green, CEO of HighGold Mining, commented in a press release: “The 2022 drill program at the Ellis Zone was very successful in sketching-in a new center of high-grade gold and base metal mineralization with similar characteristics to the main +1Moz JT Deposit located 4km away. This is strong validation of the district potential for multiple deposits and the opportunity to contribute additional mineral resources to the existing resource base. To date, the Ellis Zone has been documented over a strike length of 125 meters and from surface to a depth of 225 meters and is open to expansion. It remains early days in the exploration of this promising new zone, and we look forward to returning in 2023 with larger step-outs, particularly down plunge to the west and to depth.”

Highlights from the results are as follows:

4.1m at 5.89 g/t AuEq (3.28 g/t Au, 3.14% Zn, 0.81% Pb, 0.29% Cu), in hole DC22-037, including
- 0.9m at 16.21 g/t AuEq (14.55 g/t Au, 0.22% Zn, 0.89% Cu)
6.6m at 4.96 g/t AuEq (1.43 g/t Au, 4.35% Zn, 0.62% Cu), in hole DC22-049, including
- 1.3m at 12.90 g/t AuEq (5.70 g/t Au, 2.08% Zn, 2.55% Cu)
16.1m at 1.53 g/t AuEq (0.17 g/t Au, 2.08% Zn), in hole DC22-050, including
- 0.5m at 20.59 g/t AuEq (0.76 g/t Au, 32.50% Zn, 0.43%)
3.6m at 5.92 g/t AuEq (0.90 g/t Au, 7.91% Zn), in hole DC22-051, including
- 1.5m at 9.83 g/t AuEq (1.91 g/t Au, 12.75% Zn, 0.29% Cu)
15.5m at 4.04 g/t AuEq (2.99 g/t Au, 1.49% Zn), in hole DC22-056, including
- 1.5m at 26.24 g/t AuEq (25.70 g/t Au, 0.81% Zn)
16.1m at 3.07 g/t AuEq (0.36 g/t Au, 3.97% Zn, 0.21% Cu), in hole DC22-060, including
- 3.0m at 7.84 g/t AuEq (0.75 g/t Au, 11.03% Zn, 0.31% Cu)
8.5m at 2.62 g/t AuEq (1.41 g/t Au, 1.55% Zn, 0.69% Pb), in hole DC22-065

Table 1. Significant Assay Intersections from the Ellis Zone, Johnson Tract Project

Drill Hole	From	To	Length	Au	Ag	Cu	Pb	Zn	AuEq
	(meters)	(meters)	(meters)	(g/t)	(g/t)	%	%	%	(g/t)
DC22-035	79.6	92.8	13.2	0.12	2.9	0.03	0.17	0.45	0.5
DC22-036*	41.0	83.8	42.8	3.44	23.3	0.21	0.83	2.06	5.4
Incl	42.0	60.4	18.4	7.29	49.9	0.44	1.78	3.92	11.2
Incl	47.0	50.7	3.7	18.00	86.8	0.91	1.62	4.05	22.9
DC22-037	57.4	61.5	4.1	3.28	14.1	0.29	0.81	3.14	5.9
Incl	58.4	59.3	0.9	14.55	35.7	0.89	0.15	0.22	16.2
DC22-038*	74.6	82.8	8.2	4.39	8.7	0.34	0.03	0.28	5.1
Incl	74.6	80.1	5.5	5.95	11.9	0.50	0.01	0.21	6.8
DC22-039	NSV
DC22-040	NSV
DC22-041	17.9	19.9	2.00	0.37	8.9	0.38	2.30	4.52	4.3
And	32.2	38.2	6.0	1.13	7.1	0.09	0.72	1.30	2.3
Incl	32.2	35.2	3.0	1.84	11.6	0.12	1.14	1.85	3.6
DC22-041B	1.4	3.2	1.8	1.81	17.2	0.06	0.06	0.05	2.1
And	17.4	22.1	4.7	0.13	7.1	0.26	1.36	2.35	2.3
Incl	20.1	21.1	1.0	0.36	15.4	0.72	2.94	5.36	5.5
DC22-042	80.7	84.5	3.8	0.55	83.5	0.02	0.18	0.42	1.7
DC22-043*	37.1	49.0	11.9	21.68	30.1	0.61	0.38	4.20	25.3
Incl	37.1	43.7	6.6	38.31	48.8	0.89	0.37	5.48	43.3
Incl	37.1	41.0	3.9	54.20	71.1	1.26	0.48	8.29	61.6
DC22-044*	46.4	66.7	20.3	1.72	5.6	0.14	0.18	1.46	2.9
Incl	52.8	54.8	2.0	8.34	8.9	0.41	0.44	4.00	11.4
DC22-045*	4.6	57.1	52.5	2.95	5.5	0.10	1.01	2.38	4.9
Incl	9.1	44.3	35.2	4.20	6.1	0.12	1.40	3.19	6.7
Incl	9.1	11.0	1.9	12.95	37.7	0.08	13.51	31.42	36.2
Incl	30.0	43.3	13.3	7.81	6.4	0.23	1.31	2.35	10.0
DC22-046*	56.0	70.8	14.8	10.14	13.8	0.28	0.46	5.97	14.3
Incl	56.0	65.7	9.7	15.34	20.0	0.42	0.60	8.58	21.3
Incl	57.5	64.3	6.8	21.29	25.1	0.55	0.61	10.70	28.7
Incl	57.5	59.0	1.5	62.50	10.5	0.77	0.59	10.50	70.0
DC22-047	97.8	159.1	61.3	0.19	0.4	0.05	0.06	1.02	0.9
Incl	145.5	149.3	3.8	0.51	2.1	0.38	0.01	5.42	4.2
And	264.0	276.9	12.9	0.08	3.1	0.73	0.01	0.11	1.1
Incl	274.7	276.2	1.5	0.20	5.7	2.66	0.01	0.07	3.7
DC22-048	80.2	88.6	8.4	0.20	2.3	0.21	0.20	1.27	1.3
Incl	84.5	85.7	1.2	0.51	7.9	1.03	0.91	3.21	4.1
And	129.0	137.4	8.4	0.10	4.4	0.35	0.03	2.08	1.8
Incl	129.0	131.4	2.4	0.25	12.7	1.20	0.04	4.87	4.8
DC22-049	55.7	62.3	6.6	1.43	13.4	0.62	0.13	4.35	5.0
Incl	59.6	60.9	1.3	5.70	54.9	2.55	0.19	5.68	12.9
And	72.9	76.2	3.3	0.39	4.9	0.23	0.09	3.29	2.7

Table 1 Continued.

Drill Hole	From	To	Length	Au	Ag	Cu	Pb	Zn	AuEq
	(meters)	(meters)	(meters)	(g/t)	(g/t)	%	%	%	(g/t)
DC22-050	52.8	68.9	16.1	0.17	2.3	0.05	0.16	2.08	1.5
Incl	62.9	63.4	0.5	0.76	9.9	0.43	0.03	32.50	20.6
DC22-051	76.4	80.0	3.6	0.90	3.1	0.21	0.17	7.91	5.9
Incl	77.6	79.1	1.5	1.91	3.3	0.29	0.33	12.75	9.9
DC22-052**	NSV
DC22-053**	27.5	29.2	1.7	0.47	9.4	0.18	0.65	2.30	2.4
DC22-054**	NSV
DC22-055**	NSV
DC22-056	71.3	86.8	15.5	2.99	6.4	0.06	0.12	1.49	4.0
Incl	79.8	81.3	1.5	25.70	3.5	0.01	0.03	0.81	26.2
DC22-057	72.9	75.4	2.5	0.74	2.9	0.11	0.05	7.10	5.1
Incl	72.9	74.4	1.5	1.01	3.7	0.12	0.06	10.25	7.3
DC22-058	29.2	30.7	1.5	0.04	296.0	0.05	0.58	1.30	4.0
And	62.6	68.6	6.0	0.49	1.8	0.02	0.12	0.63	0.9
And	79.1	85.0	5.9	0.82	0.9	0.00	0.15	0.61	1.2
DC22-059	57.9	65.3	7.4	0.41	1.8	0.03	0.14	1.69	1.5
Incl	61.1	64.3	3.2	0.55	1.5	0.04	0.18	2.67	2.3
DC22-060	53.1	69.2	16.1	0.36	4.7	0.21	0.19	3.97	3.1
Incl	57.8	60.8	3.0	0.75	6.4	0.31	0.42	11.03	7.8
DC22-061	198.0	212.0	14.0	0.15	3.0	0.62	0.00	0.46	1.3
Incl	199.5	201.9	2.4	0.50	9.6	1.67	0.00	0.76	3.2
DC22-062	44.1	49.1	5.0	0.24	3.6	0.03	0.24	1.08	1.0
And	67.3	68.8	1.5	5.82	1.4	0.00	0.02	0.13	5.9
DC22-063	46.4	48.4	2.0	0.26	18.7	0.06	0.79	1.76	1.8
DC22-064	33.4	39.3	5.9	0.76	2.4	0.07	0.58	1.35	1.9
Incl	33.4	35.0	1.6	2.23	5.2	0.13	0.86	2.08	4.0
And	48.0	51.1	3.1	0.55	3.1	0.05	0.18	1.25	1.4
DC22-065	4.2	31.5	27.3	0.77	2.7	0.02	0.24	0.55	1.2
Incl	19.3	27.8	8.5	1.41	3.6	0.03	0.69	1.55	2.6
And	38.7	56.4	17.7	0.62	3.6	0.15	0.15	0.92	1.4
Incl	46.7	48.9	2.2	2.20	15.1	0.74	0.01	0.53	3.6
And	82.7	85.0	1.5	0.81	54.1	0.52	1.30	4.45	5.0
DC22-066	NSV
DC22-067	NSV
DC22-068**	NSV
Notes:
* Previously released drill intersection
** Other Difficult Creek Targets (not Ellis Zone)
NSV = No significant values
True thickness for the reported intersections estimated at 50% to 90% of reported width. Gold Equivalent (“AuEq”) based on assumed metal prices of US$1650/oz for Au, US$20/oz for Ag, US$3.50/lb for Cu, US$1.00/lb for Pb and US$1.50/lb for Zn and payable metal recoveries of 97% for Au, 85% for Ag, 85% Cu, 72% Pb and 92% Zn.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.


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