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News
Corporate Update
September 21, 2020
Vancouver, British Columbia — Highway 50 Gold Corp. (TSX.V — HWY)
Highway 50 Gold Corp. (“Highway 50” or the “Company”) has recommenced field work on its Nevada exploration projects with a view to follow-up drilling when the Company has obtained the necessary financing. The Company holds title to three claim areas that were chosen because of their proximity to deep seated geologic architectures which management believes may host large quantities of gold.
Past exploration drilling on the Company’s Johnson Canyon/Porter Canyon claims identified a probable “lag” gold occurrence which may be similar in character to the Cortez Pediment deposit which was shed off the adjacent Cortez Hills Tier 1 gold mine. The Johnson Canyon/Porter Canyon project is located along the western edge of the Quito Mine lower-plate window. The northwest corner of this window exhibits geologic elements that are markedly similar to the northwest corner of the Cortez window where the former producing Cortez Mine and currently producing Cortez Hills Mine are located.
Initial focus of the upcoming exploration work will be on the Johnson Canyon/Porter Canyon claims where the Company has permitted a pattern of six drill holes at the northwest corner of the Quito Mine window. Impetus for this drilling is previously executed geophysical surveys over the target area including magnetic, gravity and controlled source audio-frequency magnetotellurics.
Highway 50 is led by the same group of exploration geologists who discovered the Lindero gold deposit in Salta Province, northwestern Argentina which is currently being constructed by Fortuna Silver Mines Inc. The team also founded White Knight Resources which was acquired by U.S. Gold Corp. (now McEwen Mining) in 2007 for $160 million for its Nevada exploration portfolio, which included McEwen Mining’s currently operating Gold Bar Mine.
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: +1 (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 impact of the COVID-19 pandemic on the Canadian and worldwide economy, the Company’s workforce, world wide demand for commodities and the Company’s business generally 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.