Highway 50 Gold (HWY-V) May 16, '17 has recommenced and expanded drilling at its Monroe project located in southeastern British Columbia. The drilling program has been designed to test for stratiform lead-zinc-silver mineralization in a projected third-order subbasin east of Monroe Lake. As a result of the recent successful closing of a $550,000 financing and the conclusion of spring breakup, the company has elected to expand the existing drilling program. This will include the completion of drill hole HWY 17-003, which recommenced on May 15, followed by the deepening of drill holes HWY 16-001 and HWY 16-002 through to definitive Lower Aldridge formation.
As reported on April 6, 2017, drillhole HWY 17-003 was stopped at a depth of 785 m and was drilled with "HQ" diameter core (6.5 cm). Drillhole Hwy 17-003 will be cased to 785 m and reduced to NQ core (4.5 cm). A 6 m zone of vented albite fragmental was encountered at 742 m, similar to the alteration that occurs in the immediate hanging wall of the Sullivan Mine. Immediately beneath the albite fragmental are intensely sericitized sediments with veinlets and disseminations of sphalerite and galena (ZnS, PbS) present locally to the bottom of the hole.
The Company has an option to earn a 50% interest in the Monroe property by spending annual optional exploration expenditures totaling $3,000,000 over the next four years. The Company has spent $500,000 on the project over the last year.
The scientific and technical disclosure in this news release has been approved by Gordon P. Leask, P.Eng., President and CEO of the Company, and a Qualified Person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
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. The Company 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 B.C.
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604.681.4462
Email: gord@highway50gold.com or jml@highway50gold.com, |
