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Headwater Gold (CSE:HWG) (OTCQB:HWAUF) announced a new drill program at its 100%-owned Katey Gold project in Oregon, following a high-grade discovery in its first drillhole. CEO Caleb Stroup emphasized the project's potential, stating low-cost surface work indicates a mineralized system extending over a kilometer. The upcoming drilling will focus on validating this trend and enhancing the scale of the target. Headwater is actively exploring projects in mining-friendly jurisdictions, backed by a strategic investment from Newcrest Mining. The shares are currently priced at $0.35.
Headwater Gold (OTCQB:HWAUF) has signed agreements with Newcrest Mining to explore four projects in Nevada and Oregon. Newcrest can acquire up to a 75% interest by investing US$145 million and completing Pre-Feasibility Studies, each requiring a minimum resource of 1.5 million gold equivalent ounces. A minimum commitment of US$8.5 million is stated, and Newcrest can earn a 65% stake by spending US$55 million on the Spring Peak Project and US$30 million on each of the others. Newcrest also plans to invest in a private placement, acquiring approximately 9.9% of Headwater.
Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) announced significant results from its first-pass drill program at the Spring Peak Project in Nevada. Five reverse circulation drill holes were completed, revealing a new gold discovery in hole SP21-03, which intersected 38.1m grading 1.00 g/t Au, including 9.2m at 2.49 g/t Au. Four out of five holes showed promising gold mineralization starting at about 100m depth. The company expanded its land position, tripling the claim size and is planning follow-up drilling to further explore this promising area.
Headwater Gold has successfully completed its first-pass core drilling at the Mahogany gold project, totaling 810 meters across five diamond drill holes, which were finished on time and within budget. The drilling encountered epithermal quartz veins, with significant gold values reaching up to 170 grams per tonne. Following this project, drilling has started at the Katey gold project, located 30 km northwest of Mahogany, targeting high-grade gold mineralization.
Headwater Gold Inc. (OTCQB: HWAUF) has initiated a diamond core drilling program at its Mahogany Project in southeast Oregon. The program aims to investigate a 500-metre segment of the Main Ridge Fault zone, previously unexplored at depth, targeting high-grade epithermal vein mineralization. Surface rock samples have shown significant gold values, reaching up to 170 g/t. The initial four drill holes will reach depths of 100-225 metres, focusing on areas with the most intense silicification and quartz veining, with hopes of tapping into deeper mineralization.
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