. Government reports document underground exploration and small-scale gold mining operations on the claims prior to 1916, focused on two narrow quartz veins that could be traced for hundreds of feet.
HighGold, through its wholly-owned subsidiary, entered into an agreement of purchase and sale having an aggregate cash value equal to C$200,000, calculated on the 20-day volume weighted average trading price per share of the Company’s common shares on the TSXV for the 20 consecutive trading days ending on the date of receipt of conditional approval for the issuance of the Consideration Shares.
The technical report titled “Updated Technical Report for the Johnson Tract Project, Alaska” is dated August 9, 2021 and dated effective June 1, 2021, and was prepared by Ray C.
The Updated Technical Report updates and replaces the previous technical report dated June 15, 2020 and incorporates new exploration completed since the effective date of the June 15, 2020 report up to and including June 1, 2021, and presents updated recommendations.
The Company also announces an update to its planned 20,000-meter drill program, which was initiated at the Johnson Tract project in late June .
Johnson Tract is a poly-metallic , one of 12 land-based Alaska Native regional corporations created by the Alaska Native Claims Settlement Act of 1971.
The JT Deposit is a thick, steeply dipping silicified body that contains a stockwork of quartz-sulphide veinlets and brecciation, cutting through and surrounded by a widespread zone of anhydrite alteration.
The JT Deposit hosts an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent and are based on nominal 3-year trailing averages as of April 1, 2020.
The Company also controls one of the largest junior gold miner land positions in the Timmins, Ontario gold camp that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, capital expenditures, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the TSXV for the Acquisition, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest Management’s Discussion and Analysis and filed with certain securities commissions in Canada.