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Headwater Gold Significantly Expands Land Position at Spring Peak and Lodestar Projects and Commences District-Scale Exploration Program
Vancouver, British Columbia - TheNewswire - June 25, 2024: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announce s
About this update from Headwater Gold, Inc.
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire - June 25, 2024: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the \"Company\" or \"Headwater\") is pleased to announce significant expansions of its Spring Peak and Lodestar projects in Nevada, and the initiation of a comprehensive district-scale exploration program. The land expansion and regional exploration programs are being funded through earn-in agreements (the “Earn-In Agreements” or “Agreements”) with Newmont Corporation (“Newmont”) (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) announced on August 16, 2022 and May 9, 2023. Highlights: 97% Land Position Expansion: Headwater has staked 583 new claims, expanding its combined Spring Peak and Lodestar land positions by 97%. This now secures approximately 15 km of strike extent along the Aurora trend which historically produced nearly 4 million ounces of gold. District-Scale Exploration Program: A comprehensive exploration program is underway in the district including gravity geophysics, CSAMT geophysics, helicopter magnetics and radiometrics, stream sediment sampling, rock sampling, and soil sampling utilizing Newmont’s Deep Sensing Geochemistry (DSG) methodology. Drilling Program Scheduled: A multi-rig drill program at Spring Peak, totaling up to approximately 7,000 metres over 20 to 25 holes, is scheduled to begin in the first half of July 2024. The primary objective of the drill program will be to test for extensions of mineralization along the Bear Fault corridor, which hosts high-grade mineralization at the Disco Zone discovery. New Doug Target Zone: Subcropping mineralized epithermal veins have been identified at the new Doug target area. Vein textures in the area are characteristic of the shallow portions of an epithermal vein system. Initial rock samples have yielded gold values up to 2.05 g/t Au, with additional follow-up sampling underway. Caleb Stroup, President and CEO of the Company, states: “We are thrilled with the strategic expansion of our land position, which we believe significantly increases our potential for discovering a Tier-One high-grade gold deposit along the prolific Aurora trend. The commencement of our district-scale exploration program, together with the identification of the new Doug target, underscores our commitment to aggressive and systematic exp...