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Headwater Gold Announces Acquisition of the Midas North Epithermal Gold-Silver Project, Nevada and Provides Update on Exploration Activities
VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announ
About this update from Headwater Gold, Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the \"Company\" or \"Headwater\") is pleased to announce the Company has acquired the Midas North gold-silver project (the “Project” or “Property”) in northern Nevada through claim staking. Summary Highlights: Company has acquired a 100% interest in a large, undrilled epithermal alteration cell immediately north of and adjoining Hecla Mining Company’s (“Hecla”) (NYSE: HL) Midas mine; Widespread sinter, water table silica, and clay alteration infers a fully preserved epithermal system is present; Analogous geologic setting to Hecla’s Midas mine and the recent Green Racer Sinter vein discovery, where gold grades of 111.8 grams per tonne (“g/t”) and silver grades of 490 g/t Ag were intercepted over a drilled thickness of 1.4 metres (see Hecla news release dated February 18, 2021) (1); Widespread areas of highly anomalous mercury geochemistry, which is one of the key pathfinder elements for epithermal vein exploration; and The Project was acquired through the staking of 199 unpatented claims on open Bureau of Land Management (“BLM”) land and is 100% owned and royalty-free. Caleb Stroup, Headwater’s President and CEO, commented: “It is very rare to have the opportunity to stake such a large, untested epithermal alteration cell in a prolific high-grade Nevada mining district. The Midas mine complex immediately to the south serves as clear geologic analog, with over two million ounces of gold and over 25 million ounces of silver historically produced from high-grade epithermal veins at Midas between 1998 and 2019(1, 2) by operators such as Franco-Nevada, Newmont and Hecla. The Midas North project has all the components we look for when targeting large, blind, high-grade epithermal veins. Hecla’s impressive Green Racer Sinter discovery announced earlier this year demonstrates that, despite a long history of mining, this district remains highly prospective and under-explored.” About the Midas District The Midas North project is located in the Midas District of northern Nevada, approximately 100 kilometres north of the town of Winnemucca and directly adjoins Hecla Mining’s Midas mine complex. In 1994 an array of high-grade banded epithermal veins were discovered and historic production from the Midas mine was initiated by Franco-...