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Headwater Gold Completes First-Pass Drill Program On Its Mahogany Gold Project and Commences Drilling at Katey
VANCOUVER, British Columbia, Nov. 17, 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, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the \"Company\" or \"Headwater\") is pleased to announce the successful completion of the first-pass core drill program on its 100% owned Mahogany gold project. The Company also announces it has commenced drilling on its 100% owned Katey gold project located in Southeast Oregon. Highlights: Headwater’s drill program at Mahogany consisted of five diamond core drill holes totaling 810 metres and was completed on schedule and on budget; Epithermal quartz veins and vein breccias, ranging in drilled thickness from 0.1 metres to 8.1 metres, were intercepted in four of the five drill holes at a variety of elevations; Drilling targeted the Main Ridge Fault zone, which hosts intense silicification and epithermal quartz veining at the surface, including rock grab samples which returned gold values up to 170 grams per tonne; and, The drill rig has moved to Headwater Gold’s 100% owned Katey Project, located 30 km northwest of Mahogany. Caleb Stroup, Headwater’s President and CEO, states: “The completion of the Mahogany drill program marks the third successfully executed program since our public listing, approximately five months ago. Initial geologic indications from Mahogany confirm that the Project hosts a significant epithermal system. The breccias and quartz vein textures encountered in the drilling are indicative of the upper portions of the boiling horizon, implying we are targeting the correct level of the system, with additional targets still remaining at depth. Assays are required to better understand the significance of individual drill intercepts, but the presence of quartz veining and favourable alteration combined with detailed structural information collected from the oriented core is enabling the Company to further refine the exploration model and move forward with improved confidence. Drilling has now begun on the nearby Katey Project, where our objective is to test for vein mineralization in structural feeders immediately below mineralization encountered in shallow historic drilling”. About the Mahogany Drill Program The Mahogany Project is located in Southeastern Oregon, 20 km northwest of Integra Resources’ DeLamar deposit. Using a variety of geological and geophysical targeting tools, Headwater geologists identi...