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. This opens-up the potential for additional displaced mineralization to continue further to the south than previously thought.
“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,” HighGold CEO Darwin Green said in a news release.
Results from the other holes including JT22-148, which intersected 9.3 metres at 7.18 g/t gold, 0.22% copper and 5.57% zinc (10.9 g/t AuEq), also demonstrate potential additions to the mineral resource between the known inferred resources.
The JT deposit currently hosts inferred resources of 706,000 tonnes grading 4.76 g/t AuEq (1.36 g/t gold, 9.1 g/t silver, 0.59% copper, 0.30% lead and 4.18% zinc). The larger indicated resource is estimated at 3.5 million tonnes grading 9.39 g/t AuEq (5.33 g/t gold, 6.0 g/t silver, 0.56% copper, 0.67% lead and 5.21% zinc).
HighGold is focused on both expanding the JT deposit and generating new discoveries along the 12-kilometre strike length of the Johnson Tract project.
Shares of HighGold surged 23.2% by 11:00 a.m. ET following the new drilling results, pushing its market capitalization to C$62.3 million ($45.8m).