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News
2019 Drilling Completed at Monroe, BC
November 28, 2019
Vancouver, British Columbia — Highway 50 Gold Corp. (TSX.V — HWY)
Highway 50 Gold Corp. (“Highway 50” or the “Company”) reports it has completed drilling at its 50% owned Monroe project, located in southeastern British Columbia, for the 2019 exploration season. Two diamond drill holes were collared with the objective of offsetting stratiform lead/zinc mineralization and extensive Sullivan Mine style alteration previously discovered. Hole HWY-19-011 was completed to a depth of 1,011.3 metres and did not encounter the expected mineralized horizon at the projected target depth. The decreased level of alteration as well as the lack of host lithologies observed in nearby holes suggests the hole exited the sub-basin that is being tested and is hosting mineralization. With the data received from HWY-19-011 a second hole, HWY-19-012, was attempted with the objective of intersecting the host mineralization horizon between holes HWY-16-001 and HWY-18-007 where highly anomalous mineralization and intense sericite, albite, tourmalinite alteration has been encountered. The hole was lost at a depth of 414 metres in a major fault zone some 300 metres short of the projected target depth and did not test the target horizon.
Project Overview
To date, the Company has discovered a new buried zone of stratiform lead/zinc mineralization hosted within the Sullivan Mine stratigraphic sequence. The property has striking similarities in volume of alteration, depositional environment and structural and stratigraphic setting to the Sullivan Mine although no economic quantities of lead or zinc have been discovered. The Company has attempted twelve drill holes while managing to complete nine to the targeted depth with three holes lost due to adverse drilling conditions and were not completed to their targeted depths.
Technical drilling difficulties encountered in multiple drill holes at Monroe have made testing the property challenging. Management believe the possibility of discovering a significant deposit of lead/zinc at Monroe exists and further drilling will be required to completely evaluate the project.
The scientific and technical disclosure in this news release has been approved by Gordon P. Leask, P. Eng., President and CEO of Highway 50 Gold Corp. and a Qualified Person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
For additional information please contact:
Highway 50 Gold Corp.
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604-681-4462
Email: gord@highway50gold.com or jml@highway50gold.com
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. Highway 50 is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of southeastern B.C. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada’s crustal architecture and new geological understanding on the Monroe property in BC.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Certain statements regarding Highway 50, including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are Highway 50’s control. Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Highway 50 expects or anticipates will or may occur in the future, including the proposed exploration and development of the Monroe property, and management’s assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Highway 50’s control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Highway 50 believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward looking statements contained in this press release are made as of the date hereof and Highway 50 does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.