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Drilling Mobilization
The Company has mobilized its diamond drill program to
Further to the Company’s partnership with Mira Geoscience announced on
“We are excited to have AZI Drillingmoving to
Summary of Sampling Results
The results of the surface sampling have be encouraging supporting consistent high-grade gold and gold-silver mineralization at surface across our target areas.
“The 2023 exploration team has progressed the priority targets with a razor-sharp focus. It has been an absolute pleasure working with each of our exploration team members and we look forward to developing additional targets, communicating our progress to stakeholders in the near future. I have frequented the site in recent months to provide onsite support wherever needed, we are boots on the ground, top to bottom, at Heritage and look forward to building current and new relationships in the community as we progress our projects respectfully and systematically.
We have confirmed, extended and expanded our understanding of our three priority target areas from a historical perspective.
Overall, it is a rarity in my opinion to have a high-grade, at surface, gold and gold-sliver mineralized occurrences over kilometers of strike length with two priority targets confirmed at depth from historic drilling and with such closed proximity to existing infrastructure. We look forward to advancing the project in a systemic manner by testing our models.
We look forward to updating everyone on our progress of the phase 1 drill program and are very thankful for the support to date.”Commented
Highlights summarized below for target areas:
Highlights include 2.36 g/t Au and 8.00 g/t Ag in sample F809074 and 0.927 g/t Au and 2.08 g/t Ag in sample F809077 (Figure 1).These samples enrich the corridor providing additional mineralization complementing the existing high-grade gold-silver mineralization from surface.
We have also confirmed at surface a 1m wide vein in the field (assays pending) at the eastern extension of the project.
Figure 1 –
Figure 2 – Alcona East extension 1m wide extension assays pending
Grab samples from the New Millennium T99-3 and T99-5 trenches along the Central Vein (Figure 3):
F809099 12.4 g/t and 46.7 g/t Ag
F809123 1.54 g/t Au and 0.61 g/t Ag
F809122 0.636 g/t Au and 2.72 g/t Ag
F809121 2.82 g/t Au and 12.05 g/t Ag
F809095 0.784g/t and 3.14 g/t Ag
Exploration to date have These results confirmed the mineralization along the central vein system and has highlighted areas of higher grade which have will helped guide the proposed drill plan at
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Figure13–
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
Moretti Area: Mineralized deformation corridor over 2,500m consisting of discrete zones of deformed volcanic rocks and shear parallel quartz veins ranging from cm to meter scale. New Logging activities in the north eastern portion of the Property allow for improved access, ideal for prospecting and drilling over more than five historic mineral occurrences on the property inclusive of the advanced target, Moretti.
At the north vein prospect, a large, well exposed (to the NE-trending Moretti shear) vein was channeled in 2022 (See NR
CH23-002 (2m) including 15.70 g/t Au and 2.01 g/t Ag over 1m and 4.72 g/t Au and 0.08 g/t Ag over 1m
CH23-003 (4m) including 26.20 g/t Au and 2.18 g/t Ag over 1m and 10.05 g/t Au and 0.13 g/t Ag over 1m
Including internal dilution with no cutoff applied
The results compare well with historical sampling.
High-grade gold samples typically exhibit low Ag/Au ratios, in contrast to those from the
Alcona area.
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Figure 4 –
Qualified Person
ABOUT
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in
For further information, please contact:
Heritage Mining Ltd.
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update anyforward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in
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