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Headwater Gold Plans Drill Program with OceanaGold at Jake Creek Project, Nevada
Vancouver, British Columbia, - TheNewswire - May 12, 2026 - Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) (the “Company” or “Headwater”) is pleased to
About this update from Headwater Gold, Inc.
[{"type":"text","content":"Vancouver, British Columbia, - TheNewswire - May 12, 2026 - Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) (the “Company” or “Headwater”) is pleased to announce it has received drill permits and is planning an initial drill program at its 100%-owned Jake Creek Project (“Jake Creek” or the “Project”) in Nevada. The program is fully funded by OceanaGold Corporation (“OceanaGold”) (TSX: OGC, NYSE: OGC) pursuant to the earn-in agreement announced October 15, 2025, with drilling expected to commence in late May 2026. The program is anticipated to consist of approximately 3,500 metres of drilling in 8 to 10 holes, utilizing a combination of reverse circulation (“RC”) and core drilling to test multiple high-priority target areas identified through the integration of geological mapping, geophysics, surface geochemistry and re-analysis of historical drilling data. Highlights: Drill Permits Received: Permits have been approved for the initial program at Jake Creek with drilling expected to commence in late May 2026; 3,500 Metre Drill Program Planned: The planned program consists of 8 to 10 holes designed to test multiple high-priority targets across the property; Discovery Corridor Target: Core drilling will focus on the area of blind mineralization discovered by historical drilling which has not been adequately followed up; New Target Areas: The majority of drilling will test newly defined and untested targets, including Pete’s Vein and additional structurally controlled zones across the property; and Expanded Land Position: An additional 23 claims have been staked, bringing the total to 212 claims across the district-scale opportunity. Caleb Stroup, President and CEO of the Company, states: “We are excited to move Jake Creek into the drilling phase following completion of our initial targeting work and receipt of drill permits. Historic drilling demonstrated the presence of blind gold mineralization, but the structural framework controlling that mineralization was not understood and it was never adequately followed up. Over the past year we have focused on building that geological understanding through mapping, relogging, geochemistry and geophysics and we are now in a position to test that model with drilling. The Discovery Corridor is the highest-priority target, where we will use angled core ho...