Headwater Gold Reports High-Grade Gold from Multiple Veins in Initial Assays from Drill Hole SP22-13, Spring Peak Project, Nevada

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Headwater Gold Reports High-Grade Gold from Multiple Veins in Initial Assays from Drill Hole SP22-13, Spring Peak Project, Nevada (TheNewswire) Vancouver, British Columbia - TheNewswire January 9, 2023: Headwater Gold Inc. (CSE:HWG) (OTC:HWAUF) (the "Company" or "Headwater") is pleased to report initial assay results from the core completion of drill hole SP22-13 from its Spring Peak project, located in Nevada, USA.  The completion of the 2022 drill campaign at Spring Peak was announced on December 7, 2022. Highlights Drill hole SP22-13 intersected two individual veins which assayed 15.92 grams per tonne gold (“g/t Au”) over 2.38 metres (“m”) and 10.43 g/t Au over 2.01 m respectively. The highest individual assay returned 69.6 g/t Au over 0.34 m.  These intervals are part of a broader zone which assayed 2.73 g/t Au over 34.72 m; Initial assays confirm the presence of high-grade gold in banded epithermal veins in the Disco Zone which was discovered by Headwater scout drilling in November 2021; These results are the first and only batch of assays received to date from Headwater’s 2022 Spring Peak drill program. Results from the remainder of the 2022 program, which totalled 3,173 m, are expected in Q1 2023 The Spring Peak drill program was 100% funded by Newcrest Mining Limited (“Newcrest”) pursuant to the earn-in agreements announced on August 16, 2022; and A more extensive follow-up drilling program to define the lateral and down dip extents of the vein system is currently being planned. Figure 1:  3D image of ginguro banded quartz vein from the Disco Zone intersected in drill hole SP22-13.  Core is HQ size.  The pictured vein forms the central portion of the vein interval which assayed 15.92 g/t Au over 2.38 m from 275.26 m to 277.64 m. The right half of the interval shown assayed 69.6 g/t Au over 0.34 m, which is the highest individual assay received from the Spring Peak project to date.  Full resolution video is available here . Caleb Stroup, the President and CEO of the Company, states: “ We are very pleased to announce these initial high-grade assays from the 2022 Spring Peak drill campaign.  Proving the presence of high-grade banded epithermal veins below a barren sinter cap is a significant milestone for the Spring Peak project and for Headwater.  These h...

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