HighGold Mining Inc. (TSXV:HIGH, OTCQX:HGGOF) has kicked off a Phase One, 3,000m drill programme at its Munro-Croesus Project located in the Timmins gold camp, Ontario, Canada.
The Programme will follow up on encouraging results at vein targets identified peripheral to the historic Croesus Gold Mine.
President and CEO, Darwin Green, said drilling is expected to continue into mid-December. Planning is also underway for a larger, Phase Two drill program that will commence January 2022.
“Following nearly two years of land consolidation and targeting work by HighGold, we are excited to commence what is anticipated to be a significant and sustained exploration campaign at the Munro Croesus Project,” Mr Green said.
“The Munro-Croesus project is the jewel in our Ontario portfolio with its location in the +100Moz Timmins Gold Camp, proximity to major gold-bearing breaks and neighbouring multi-million-ounce gold deposits, and an average grade of 95.3 g/t Au from the historic Croesus Gold Mine.
“Most of the Project area has gone unexplored since the 1930s due to a legacy of fragmented mining claims which, until now, had never been unified under single ownership.”
The Munro-Croesus Project
The Munro-Croesus Project is located along Highway 101 in the heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction (Figure 1). The Project covers 36 sq. kmof highly prospective geology situated between the Black Fox Mine Complex operated by McEwen Mining Inc. and the Fenn-Gib Project being developed by Mayfair Gold Corp,
Recent consolidation has been part of an ongoing strategy by the Company to tie-up the patchwork of patented and unpatented mining claims surrounding the historic Croesus Gold Mine into one contiguous package and enhance the exploration potential of the Project.
2021 Exploration Work to Date
The company has taken a systematic approach to exploration at the Project following its land consolidation efforts in order to:
i) better understand the regional setting in the context of the Porcupine-Destor, Pipestone and Munro Faults;
ii) refine and prioritize drill targets, and;
iii) develop new conceptual models for controls on the historic bonanza grade gold mineralisation.
This work has included:
- Property-wide airborne magnetic and electromagnetic (VTEM) survey and LIDAR
- Geological, geochemical and historic diamond drill hole data compilation
- Detailed structural study on fault and vein kinematics by SRK Consulting Inc.
- Geological mapping, sampling and mechanical trenching of known quartz vein prospects and identification of other potential target types and host environments including shear-hosted gold in variolitic basalts, ultramafic rocks (green carbonate zones) and sediments, and intrusive-hosted gold adjacent to the major faults
For further information please visit: https://highgoldmining.com/
