Highway 50 Gold Corp. (TSXV: HWY) Soars On Large-Scale Gold Discovery News

(MENAFN- Investor Ideas) ), a leader in mining investing news and home of theExploring Mining Podcast, issues a news and trading alert for Highway 50 Gold Corp. (TSXV: HWY ).

The stock makes the TSX Venture top gainers list following news of a large scale discovery. Highway 50 Gold is trading at 0.8200 +0.2000 (+32.26%) on volume of over 330,000 shares as of this report.

On September 14th Highway 50 Gold announced the discovery of an extensive zone of gold mineralization at its 100%-owned Gold Knob gold project in north-central Nevada.

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Discovery hole GK-26-9A intersected 51.82 metres (170 ft) grading 0.60 g/t Au, including higher-grade intervals of 1.02 g/t Au over 4.6 metres and 2.74 g/t Au over 4.6 metres. The continuous mineralized zone begins at a depth of 128 metres.

The result represents a substantial increase in mineralized thickness compared with historic hole BV-3, located 152 metres to the north, which intersected 12.2 metres grading 0.73 g/t Au. The increase in thickness between the two holes suggests the system may be broadening to the south, although additional drilling is required to determine true thickness and continuity.

Highlights

GK-26-9A: 51.82 m grading 0.60 g/t Au from 130.0 m to 181.2 m including 1.02 g/t Au over 4.6 m from 161.5 m to 166.1 m including 2.74 g/t Au over 4.6 m from 144.6 m to 149.2 m Mineralized thickness increased substantially from historic hole BV-3, 152 m to the north, which intersected 12.2 m grading 0.73 g/t Au.

Follow-up drilling approximately 1.15 km southeast of GK-26-9A encountered a second zone displaying similar geological characteristics, with assays pending.

Highway 50 has staked an additional 205 claims surrounding the discovery area, and drilling is ongoing.

Drill hole GK-26-9A was drilled at a -60 degree dip to the north (360 degree azimuth), with co-ordinates of 428158E and 4470044N (NAD 83).

Gold Knob Exploration Update

Highway 50's Phase 1 drill program is designed to offset known gold mineralization and test the Company's interpretation that a major gold system exists at depth.

Follow-up hole GK-26-18 was drilled approximately 1.15 km southeast of GK-26-9A to test a broad conductive anomaly identified by magnetotelluric geophysics. GK-26-18 was drilled at a -60 degree dip to the north (360 degree azimuth), with co-ordinates of 428952E 4469084N (NAD 83). The hole intersected a 13.7-metre interval from 455 m to 469 m, displaying geological characteristics similar to those observed in GK-26-9A, beginning at approximately 451 m depth. Assays are pending.

GK-26-18 is also approximately 600 metres north of the Wildhorse area, where low-grade gold mineralization has previously been identified over an area of approximately 1 km2.

Mineralization encountered to date is characterized by intense silicification, bladed calcite replacement, banded and coxcomb silica, and locally elevated sulphide content. Geochemistry includes elevated arsenic, antimony, mercury and silver.

The mineralized system appears to be associated with an east-west structural zone intersecting a major north-northwest structural corridor. Historic surface sampling at Gold Knob, immediately north of this structural zone, has returned locally high gold values of up to approximately 100 g/t Au.

The combination of broad mineralization in GK-26-9A, increasing mineralized thickness from historic drilling, similar geology encountered 1.15 km away, widespread surface gold anomalism and supporting structural and geophysical evidence provides the Company with a compelling target for continued drilling.

Qualified Person: 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).

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