Business
Headwater Gold Commences Drilling at the Agate Point Project, Nevada
Vancouver, British Columbia – TheNewswire - November 16, 2022 - Headwater Gold Inc. (CSE:HWG) (OTC:HWAUF) (the "Company" or "Headwater") is pleased to announce
About this update from Headwater Gold, Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - November 16, 2022 - Headwater Gold Inc. (CSE:HWG) (OTC:HWAUF) (the \"Company\" or \"Headwater\") is pleased to announce it has commenced a 2,000 metre drill program at the Agate Point project, Nevada. Highlights: Approximately 2,000 m of reverse circulation (“RC”) drilling is currently underway as part of a first-pass scout drilling program; The drill program is designed to test for gold mineralization at depth below a large epithermal alteration footprint characterised by widespread mercury and arsenic surface geochemistry; Agate Point is located approximately 50 km along trend from the historic, high-grade Sleeper gold mine in northern Nevada; and, The drill program is fully funded by Newcrest Mining Limited (“Newcrest”) as part of a larger multi-project earn-in agreement (see news release dated August 16, 2022). Caleb Stroup, Headwater’s President and CEO, states: “It is very exciting to see drilling underway at Agate Point. A first-pass scout program under a large alteration system such as this provides a great opportunity to make a new high-impact gold discovery. 100% of the funding for this program is provided through our earn-in agreement with Newcrest, which significantly de-risks such a program while preserving significant upside for our shareholders.” Figure 1: Drilling currently underway at the Agate Point project, Nevada. About the Agate Point Project The Agate Point project is located in northwest Nevada, 50 km along trend from the historic, high-grade Sleeper Mine. The claim block covers an easily accessible linear ridge of untested widespread, high-level epithermal alteration with consistent, highly anomalous trace-element geochemistry typical of upper parts of epithermal gold deposits in Nevada and globally. There has been limited exploration on the project and no known exploration drilling testing for high-grade precious metal bearing veins. Exploration at Agate Point will consist of scout RC drilling to test multiple structural targets below surface alteration and geochemistry indicative of high-level epithermal mineralization. The Company believes this drilling will be the first ever test for a structurally hosted precious metal-bearing epithermal boiling zone at Agate Point. Figure 3: Agate Point project sho...