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Heritage Mining - New Millennium Drilling Mobilization and Corporate update
Vancouver, BC - TheNewswire - September 5, 2023 - Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased to announce AZI Drilling has
About this update from Heritage Mining Ltd.
[{"type":"text","content":"Vancouver, BC - TheNewswire - September 5, 2023 - Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased to announce AZI Drilling has completed its drill program at the Alcona Target Area and is now mobilizing to the never drilled, New Millennium Target Area at its flagship Drayton-Black Lake Project. Drilling Mobilization The Company has mobilized its diamond drill program to New Millennium from Alcona Area at its flagship Drayton-Black Lake Project site located in northwestern Ontario approximately 25km East of the town of Sioux Lookout, Ontario by paved highway. The Phase 1 Drill Program previously released on August 3, 3023 which consists of a 3,600m diamond drill program over the three priority target areas. Further to the Company’s partnership with Mira Geoscience announced on July 20, 2023, Mira Geoscience has produced a geology model for New Millennium targets ahead of schedule giving the Company’s exploration team a focused geophysical and structural understanding as planned to test numerous targets within the Phase 1 Drill Program at New Millennium, additional targets have been provided and have been incorporated into the program. Oriented core is used to assess structural geology that controls mineralization. “We are excited to have AZI Drilling moving to New Millennium, a never drilled area with the highest grab sample property wide grading 2330 g/t Au in last year’s program. We appreciate everyone’s hard work to date and I look forward to coming back to site in the near future, we are all hands on deck.” Commented Peter Schloo, President, CEO and Director of Heritage. New Millennium: At least two mineralized deformation corridors consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins. Exploration to date have confirmed the mineralization along the central vein system and has highlighted areas of higher grade which have helped guide the proposed drill plan at New Millennium. Figure 1 – New Millennium – Target Area Corporate Update The Company also announces that it has granted incentive stock options pursuant to its stock option plan to directors, officers and consultants to purchase up to an aggregate of 2,490,000 common shares of the Company. The stock options are exercisable at a price of C$0.09 per common share and expire three years from ...