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Widest Vein Ever Intersected at Drayton-Black Lake
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Heritage Mining
Overview
Mining in Ontario is big business. In 2021, Ontario’s mining industry produced roughly C$11.1 billion worth of minerals, accounting for 20 percent of Canada’s total production value. The importance of the mining industry has helped create a mining-friendly jurisdiction that understands the value of capitalizing on its natural resources. That’s why the Fraser Institute has ranked Ontario among the top 15 jurisdictions worldwide for investment attractiveness.
Additionally, the Canadian government is making a significant push to ramp up the production of critical minerals, including copper, lithium and aluminum. This push has resulted in more than 31 critical mineral projects in advanced exploration stages in Ontario,e paving the way for the development of a domestic supply chain for the country.
Heritage Mining (CSE:HML) is an exploration and development mining company with district-scale assets targeting gold and copper mineralizations within Ontario. The company’s flagship Drayton-Black Lake project is a strategically assembled district-scale project with encouraging bulk samples, high-grade gold intercepts and robust existing infrastructure. An experienced management team leads Heritage Mining with more than 100 years of combined experience working within the natural resources sector.
The Drayton-Black Lake project is a district-scale asset with a rich history, but a single company has never operated the entire area. Instead, it was split up among different operators and has never received systematic exploration to determine its mineralizations' actual width and depth.
As a result, Heritage Mining is launching the first systematic exploration program that will identify promising deposits throughout the entire area of this historic region from a low-grade, high-tonnage perspective.
The company entered a definitive asset purchase agreement with Bounty Gold Corp. to acquire 50 mining claims in the Split Lake zone adjacent to Heritage's flagship Drayton-Black Lake project. Heritage will acquire a 100 percent interest in the Split Lake property in exchange for issuing Bounty 100,000 common shares.
“Relative to other projects in the area, we are very close to infrastructure. There is a paved highway through the property, all-weather logging roads, and well-maintained ATV roads. So it’s quite a bit different than other projects in Northern Ontario: there are no ice roads and we don’t have to fly in to do work,” CEO Peter Schloo stated in an interview.
The company also operates the Contact Bay project containing high-grade copper-nickel mineralizations. The 4,700-hectare land package is within an active mining area and has known gold, nickel and platinum-palladium mineralizations. While the Drayton-Black Lake project is the main focus, Contact Bay will expose the company to critical minerals.
Heritage Mining’s management team has a proven track record in the mining industry and has overseen transactions exceeding C$15 billion. In addition, the team has experience in corporate finance, administration and geology.
Company Highlights
- Heritage Mining is an exploration and development mining company with district-scale opportunities in Ontario, Canada, targeting gold and copper.
- The company’s flagship project, the Drayton-Black Lake project, has strong historical results but has never been systematically explored from a low-grade, high-tonnage perspective. Heritage is the first company to own the entire area and will conduct a thorough exploration program to identify promising mineralizations.
- Drayton-Black Lake project has existing infrastructure that provides year-round highway access to the property, a significant advantage over other regional projects.
- Samples from the company’s 2022 field program showed multiple high-grade gold vein system channels.
- Heritage Mining’s Contact Bay project contains high-grade copper-gold mineralizations and exposes the company to the critical minerals market that is rapidly growing within Ontario.
- A veteran management team leads the company with a combined 100 years of experience in the mining sector.
Key Projects
Drayton-Black Lake Project
The 14,229-hectare project has undergone significant historical exploration, including more than 176 holes drilled, with high-grade gold and copper discoveries. The project is located in a mature mining district in Ontario, a jurisdiction known for its low geopolitical risk and mining-friendly government.
Project Highlights:
- Priority Zones Identified: Heritage Mining has identified four priority gold zones with multiple historic high-grade intersections that will guide future exploration programs. These zones are:
- Moretti Zone - Samples up to 1,212 g/t gold
- Split Lake Zone - 0.7 meters at 14.8 g/t gold
- Shaft Zone - 2 meters at 14.5 g/t gold
- West Zone - Up to 150.86 g/t gold
- Over 100 Years of Historical Data: Exploration data from the past century is being compiled to create a greater understanding of the area that will rapidly advance the project by guiding future exploration decisions.
- 2022 Field Program Completion: Exploration program included property-wide MagEM airborne geophysical surveying, regional mapping, prospecting and sampling in addition to the recently completed channel sampling work. Results from grab samples include:
- up to 58.1 g/t gold at Main Prospect
- up to 24.6 g/t gold at Pond Prospect
- up to 46.5 g/t gold at New Millennium Prospect
- up to 208 g/t gold at Moretti
- up to 0.95 g/t gold at Black Lake
- 2023 Drill Program Highlights: Completion of drill program validated and expanded the deformation corridor, now boasting an impressive ~200 meters width, 1 kilometer in strike length and a depth reaching at least 145 meters.
- Alcona Area, HML23-007: 0.90 g/t gold over 10.15 meters from 104.75 meters
- Moretti Area, HML23-012: 1.01 g/t gold over 5 meters from 105 meters
The Alcona Area has been approved for Phase II Drill Program to define its deposit potential.
Contact Bay Copper-Gold Project
The project covers 4,700 hectares and contains multiple high-grade copper-nickel and gold occurrences. Contact Bay is also located in Ontario andt is in the exploration phase, with targets identified for exploratory drilling.
Project Highlights:
- Promising Mineralization Styles: The asset contains a diverse range of mineralizations, including:
- Northeast - Rock sample assayed 0.40 g/t gold and 0.7 percent copper, sheared and altered gabbro
- Northeast – A 1.2-meter chip channel assayed 4.2 g/t Au
- Platinum and Palladium values up to 0.28g/t
- Priority Targets Identified: Heritage Minerals has three priority drill targets, each with high-grade historic drill intersections that warrant additional follow-up.
- Impressive Geophysical Interpretation: Exciting highlights from exploration work include the interpretation defining two substantial mafic-ultramafic intrusive bodies with multiple nickel-copper-PGE (platinum group elements) target areas:
- Nabish Lake Area: ~ 5 kilometers long, up to 1 kilometer wide, over 1 kilometer in depth)
- North Nabish Lake Area: ~ 2 kilometers long, 1 kilometer wide, over 1 kilometer in depth
Geophysical interpretation of the Contact Bay area along with findings from the 2023 prospecting program, suggest geological similarities to other Archean nickell-copper-PGE occurrences and deposits.
Management Team
Peter Schloo - President, CEO and Director
Peter Schloo holds the CPA, CA and CFA designations with over eight years of progressive experience in capital markets, operations and assurance. He has held senior executive and director positions in a number of private companies, a majority in the precious metals sector including CFO of Spirit Banner Capital and VP of corporate development and interim CFO for Ion Energy. Schloo is also currently a director of Pacific Empire Minerals. (PEMC). His past successes include over C$80 million in associated capital raising opportunities involving public and private companies.
Patrick Mohan - Chairman and Director
Patrick Mohan is a 35-year investor relations veteran and is the founder, president and chief executive officer of Mohan Group. Mohan is also on the board of Metals Creek Resources Corp. Previously, he occupied the position of president, CEO, director and head of investor relations at Kitrinor Metals. Mohan’s past successes include the development of the Cote Gold Project and the sale of Trelawney Mining & Exploration to IAMGOLD for C$585 million (US$595 million) in cash In 2012.
Wray Carvelas - Director and Chair of Compensation Committee
Wray Carvelas has provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. As a senior executive at DRA Global he was responsible for the growth and development of the business in both North and South America. The mandate was to grow business in the Americas, both organically and inorganically without any significant capital base. Carvelas also held positions at KBR, ELB, and De Beers, involving management of development, production, and metallurgical (R&D and capital management) responsibilities.
Thomas Reid - Director
Thomas Reid has a 30 year career with Sun Life Financial as CFO Canada and head of corporate development. Since joining Sun Life Financial in 1994, Reid has held increasingly senior positions throughout Sun Life in finance, corporate development, public relations and investor relations. From 2009 to 2020, Reid led the group retirement services business at Sun Life, growing the assets under management from $30 billion to $130 billion. For the last four years, Reid was responsible for the strategy and growth team for Sun Life in Canada, where his team led strategic planning for the Canadian businesses and explored how Sun Life could invest in new businesses to accelerate the company's growth in Canada. Reid also holds the CPA and CA designations.
Rachel Chae - CFO
Rachel Chae, with over eight years of experience, has served as CFO for various publicly traded companies, including several Canadian junior mineral exploration companies. She holds the chartered professional accountant designation working at Cross Davis & Company LLP, a chartered professional accountant firm providing accounting services to publicly listed entities, primarily in the mining sector.
Patrick Sullivan - Corporate Secretary
Patrick Sullivan is a mining, M&A and securities lawyer at a national law firm with a decade of experience in the junior mineral exploration sector. He has acted on several significant global mining transactions including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation. Sullivan also has significant experience advising on mineral stream and royalty finance transactions.
Rick Horne - Geologist
Rick Horne has over 40 years of experience as an economic geologist. His experience includes senior roles with Acadian Mining (Atlantic Gold) as chief geologist and with Dufferin Gold Mine (Resource Capital Gold) as chief geologist and mine manager. Horne is an expert in lode gold systems, structural geology and geological mapping spending 22 years with NS Energy and Mines focussing on Bedrock mapping.
Mitchel Lavery, - Advisor
Mitchel Lavery has over 45 years’ experience in the exploration and development of mining projects with several junior and major mining companies. Lavery was instrumental in the discovery of the Bell Creek Gold Mine in Timmins, ON; the development and operation of the Joubie Gold Mine, Val-d’Or, QC; and the acquisition and development of the Quebec Lithium property, Lacorne, QC. He is the president and a director of Seahawk Gold. and is a qualified person under NI-43-101 regulations.
District-Scale Opportunities with Historically Promising Assets
Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second Hole at Zone 3 Extension
VANCOUVER, BC TheNewswire - May 15, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce preliminary results from its 2025 diamond drill program at Zone 3 extension, Drayton Black Lake project (" Project "). Two scout holes have been completed, and a third hole is in progress, testing a major northeast-southwest striking linear magnetic feature that is granite-hosted. The second scout hole (HML25-011) intersected the widest quartz vein ever drilled within the Project area to date, approximately 46m wide (true width ~32m, assuming the vein is near vertical). The Company has therefore modified the current drill program to further test this quartz-rich structure at deeper and shallower levels, as well as along strike.
Zone 3 Extension Drill Highlights:
Drilling discovered a broad zone of granite-hosted quartz vein mineralization
Widest quartz vein ever intersected at the Project
Vein width is ~46 metres (from 209.40m to 255.55m)
Locally visible sulphides include chalcopyrite, galena, pyrite and hematite staining
Drill core is being logged, split and sent for assay as soon as possible
" We are extremely pleased to have intersected such a broad vein zone in only the second scout hole at Zone 3 Extension prospect. Our geologists have observed locally significant sulphides in the quartz (galena, molybdenite, pyrite), indicating this structure acted as an important conduit for mineralized fluids. Tapping into such a broad quartz structure this early into the program underscores the significant opportunity at the Drayton-Black Lake Project for further discoveries within this established gold-rich camp. This is an excellent start to Heritage's scout drill program, and we are now redesigning the drill program to ensure this mega-structure is pierced further along strike and at a range of depths. We look forward to reporting more results from the scout program in due course." Commented Peter Schloo, President, CEO and Director of Heritage Mining.
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Figure 1: HML25-011 Box 5 8 (top) to 69 (bottom), ~209.40m to ~255.55m (~46m); shows the thickest quartz sulfide vein ever intersected at Drayton-Black Lake.
Discussion of Results
The 2025 drill program at Zone 3 Extension is targeting granite-hosted mineralized quartz-vein structures that were first observed in the HML Zone 3 drilling program of August 2024. T wo scout holes (HML25-010 and -011) totalling 592m have been completed by the Company. Both drill holes tested a northeast trending linear magnetic feature that is ~2km long and up to ~200m wide hosted by the Lake of the Bays Batholith. These scout holes were drilled approximately ~1km from the nearest drill site at Zone 3 2024 drilling targets.
The first scout hole (HML25-010) intersected multiple zones of granite cut by broadly spaced, cm-scale quartz – pyrite – chalcopyrite veins. The second scout drill hole HML25-011 intersected much wider structural zones, including a massive quartz vein from 209.4m to 255.5m depth (true width ~32m), the widest quartz-vein structure ever intersected on the Project. This "Mega" quartz structure is characterized by "dirty" quartz with moderate hematite staining and locally contains disseminated and vein-hosted pyrite, chalcopyrite, sphalerite, galena and molybdenite mineralization (Figure 4). This maiden discovery of a "mega" quartz structure is highly encouraging and warrants further exploration.
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Figure 2: Plan map view showing the vein zone in HML025-011 (red line segment); line of section for Figure 3 is shown with a dashed white line.
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Figure 3: Cross-Section view showing planned holes to test the vein zone in HML025-011. The planned drill fan is arranged approximately perpendicular to the global trend of the linear magnetic feature shown on the map in Figure 2.
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Figure 4: Selected mineralization photos from HML25-011 209.40m – 255.55m showing "dirty" quartz with moderate hematite staining and locally contains disseminated and vein hosted pyrite, chalcopyrite, sphalerite, galena and molybdenite mineralization. | |
Qualified Person
Stephen Hughes P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
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 any forward‐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 Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Announces Closing of Strategic Investment
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VANCOUVER, BC, May 14, 2025 TheNewswire - Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that, further to its news release dated May 7, 2025, it has closed its non-brokered private placement consisting of 3,000,000 flow-through units (" FT Units ") at a price of $0.05 per FT Unit for gross proceeds of C$150,000 to a strategic investor (the " Offering ").
Each FT Unit consists of one flow through common share (" FT Common Share ") and one Warrant (" FT Unit Warrant ") with each FT Unit Warrant entitling the holder to purchase one Common Share at an exercise price of $0.10 for a period of 60 months from issuance, subject to acceleration provisions. Each FT Common Share will qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada).
The Company paid an aggregate $12,000.00 in cash commissions and issued an aggregate 240,000 compensation options (the " Compensation Options ") in connection with the Offering. Each Compensation Option entitles the holder to acquire one additional Unit at a price of $0.05 for a period of 36 months following the date of issuance.
Proceeds of the Offering will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project and Contact Bay, in addition to general working capital. All securities issued pursuant to the Tranche One are subject to a statutory hold period of four months plus one from the date of issuance, in accordance with applicable securities legislation.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Peter Schloo, CPA, CA, CFA 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 any forward‐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 Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Announces Encouraging Gold Results from New Millennium Drill Program and provides Exploration Update and Strategic Investment
(TheNewswire)
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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC, May 7, 2025 TheNewswire - Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased announce results from its winter drill program at its flagship Drayton Black Lake (" DBL ") exploration project (Figure 1 and 2) in Sioux Lookout, Ontario. The Company conducted scout drilling at the New Millennium orogenic gold target area utilizing its in-house drilling rig and team. The Company is also pleased to provide an update on its planned diamond drill program at the Zone 3 (DBL) Extension and Rognon Mine Area (Contact Bay) prospects.
Highlights:
Intersected multiple zones of strong gold mineralization in shallowly drilled holes (average 61m depth) at the New Millennium prospect, including HML25-003 (87m) which assayed 6m @ 1.05g/t gold, 3m @ 1.77g/t gold and 2m @ 1.78g/t gold (Table 1).
Broad zones of quartz veins were intersected in HML25-006, which assayed 13m @ 0.23g/t gold
Zone 3 Extension scout drill program commenced, and the first hole has been completed intersecting a granite cut by quartz – sulphide veins over broad intervals
Received additional drill permit for targets within the Rognon Mine Area
Secured a second drill rig for the diamond drill program at Zone 3 Extension and Rognon Mine Area, targets will be drilled simultaneously
"These initial drill results from New Millennium are highly encouraging, considering the average hole depth is only 61 meters. These scout holes confirm the presence of mineralized vein swarms and structures, validating historical high-grade surface samples. We have also secured an additional diamond drill rig to fast track our exploration agenda drilling Zone 3 and Rognon Mine simultaneously. This, combined with receiving additional diamond drill permits at the Rognon Mine Area, truly unlocks our potential for discovery significantly ahead of schedule while maintaining established cost efficiencies. With additional financial support, we are in a strong position to advance our exploration initiatives heading into the summer. We look forward to communicating further results on our ongoing 2025 diamond drill exploration program utilizing our cost-effective exploration operations including in-house drilling team on current and additional targets being developed." Commented Peter Schloo, President, Director and CEO of Heritage.
The Company is also pleased to announce a non-brokered private placement consisting of 3,000,000 flow- flow-through units (" FT Units ") at a price of $0.05 per FT Unit for gross proceeds of C$150,000 to a strategic investor (the " Offering "). Each FT Unit consists of one flow through common share (" FT Common Share ") and one Warrant (" FT Unit Warrant ") with each FT Unit Warrant entitling the holder to purchase one Common Share at an exercise price of $0.10 for a period of 60 months from issuance, subject to acceleration provisions. Each FT Common Share which will qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada).
Closing of the Offering is expected to occur on or around May 14, 2025 (the " Closing Date "). The Offering is subject to all customary approvals. Proceeds of the Offering will be used to fund the Company's planned exploration and drilling programs on its Drayton-Black Lake Project and Contact Bay and general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.
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Figure 1: Ontario Project Portfolio 2025 Diamond Drill Program
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Figure 2: DBL Project: TMI over Bedrock Geology
New Millennium 2025 Diamond Drill Program Overview
Nine drill holes for a total of 556 meters were completed from three drill pads along a 150-meter strike of this newly identified vein set within the New Millennium target area (Figure 2). Dilling intersected multiple sets of mineralized veins (Table 1) and shear zones within an interpreted multi-deformation folded sequence (Figure 3).
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The Company is concurrently developing low-cost surficial exploration to advance the New Millennium target drill area (Figure 2 – inset map). Key upcoming programs may include the stripping and trench sampling of known vein sets and high-resolution basal till sampling across interpreted fold noses.
Table 1: Significant assays for New Millennium 2025 winter scout drilling program
Hole_ID | Target | From | To | Au g/t | Length | Composite |
HML25-003 | New Millennium | 18 | 20 | 1.78 | 2 | 2.0 m of 1.78 g/t Au |
And | New Millennium | 41 | 47 | 1.05 | 6 | 6.0 m of 1.05 g/t Au |
And | New Millennium | 71 | 74 | 1.77 | 3 | 3.0 m of 1.77 g/t Au |
HML25-004 | New Millennium | 38 | 42 | 0.77 | 4 | 4.0 m of 0.77 g/t Au |
HML25-006 | New Millennium | 52 | 65 | 0.23 | 13 | 13.0 m of 0.23 g/t Au |
HML25-007 | New Millennium | 62.5 | 70.6 | 0.78 | 8.1 | 8.1 m of 0.78 g/t Au |
Hole_ID | Target | From | To | Au g/t | Length | Composite |
HML25-003 | New Mellenium | 18.0 | 20.0 | 1.78 | 2.0 | 2.0 m of 1.78 g/t Au |
And | New Mellenium | 41.0 | 47.0 | 1.05 | 6.0 | 6.0 m of 1.05 g/t Au |
And | New Mellenium | 71.0 | 74.0 | 1.77 | 3.0 | 3.0 m of 1.77 g/t Au |
HML25-004 | New Mellenium | 38.0 | 42.0 | 0.77 | 4.0 | 4.0 m of 0.77 g/t Au |
HML25-006 | New Mellenium | 52 | 65 | 0.23 | 13.0 | 13.0 m of 0.23 g/t Au |
HML25-007 | New Mellenium | 62.5 | 70.6 | 0.78 | 8.1 | 8.1 m of 0.78 g/t Au |
Note- Significant intervals for exploration drilling calculated using a 0.1 g/t Au cutoff, 2.0m minimum length and 3.0m maximum consecutive internal waste. High-grade intervals calculated using a 1.0 g/t Au cutoff, 3.0m minimum length and a 3.0m maximum consecutive
Zone 3 Extension
The 2024 drill program at Zone 3 Extension identified granite hosted mineralisation and features consistent with a magmatic source for the gold mineralisation. This opens the potential for more widespread mineralisation in the Heritage tenements, outside of the traditional focus which is on orogenic lode style mineralization in the volcanics. Dr. Gregg Morrison, consultant to HML, reviewed 2024 Zone 3 drill core, commenting that it has "demonstrated similarities to other deposits in the region, particularly to the 5.8Moz granite-hosted Hammond Reef Deposit of Agnico Eagle."
The Company is currently scout drilling at Zone 3 Extension, testing along a linear mag-feature that is 2km long and up to 200m wide. The first scout hole is completed and is considered a technical success, intersecting multiple zones of granite cut by broadly spaced, cm-scale quartz – pyrite – chalcopyrite veins (Figure 4). Samples are currently being processed at our four-season core shack facility. Additional exploration programs for 2025 in this area are being considered including till sampling across structural controls to Zone 10 and east west from New Millennium to Split Lake Target areas as well as scout diamond drilling.
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Figure 4: HML25-010 Box 24 102.48m to 106.72m - Granite cut by quartz – sulphide veins
Rognon Mine – Contact Bay Project
The former Rognon/Wachman Mine produced 22.2 oz of gold and 0.5 oz of silver from 49 tons milled while in operation between 1916 and 1918 (Reference MLAS number MDI000000000779). Development is reported to be a shaft 106 ft deep with 307 ft of lateral development on two levels, including a raise to surface from the first (50 ft) level. There are surface indications that suggest the vein extends at least 750m in length (trenching, shafts, pits, historical mining) including five historical shafts (two production shafts and three exploration shafts). Heritage plans to undertake a maiden scout drilling program to test this vein system along strike and at depth, drilling is expected to commence mid-May.
An additional permit has been received to drill geophysical anomaly believed to related to the old Rognon Mine (Figure 5). A drill program for ~2175m in eleven drill holes has been designed and budgeted for the Rognon Mine area that lies within Contact Bay Project (Figure 5).
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Figure 5: Planned Diamond Drill holes over UAV Mag inversion model (2024)
Qualified Person
Stephen Hughes P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
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 any forward‐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 Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Heritage Mining Ltd. Announces Closing of the Second and Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units
(TheNewswire)
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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - April 22, 2025 Heritage Mining Ltd. (CSE: HML) (" Heritage " or the " Company ") is pleased to announce that it has closed the second and final tranche (" Tranche Two ") of its non-brokered private placement financing (the " Offering ") previously announced on April 7, 2025 and March 7, 2025.
The Company raised an aggregate of $232,500.00 pursuant to Tranche Two, of which $182,500.00 was raised on the issuance of 3,650,000 units (" Units ") and $50,000.00 was raised on the issuance of 1,000,000 flow-through units (" FT Units "), for total gross proceeds of $1,028,500.00 from the Offering. Each Unit was issued at a price per Unit of $0.05 and is comprised of one common share in the capital of the Company (" Common Share ") and one Common Share purchase warrant entitling the holder to acquire one Common Share for a period of 60 months from issuance at an exercise price of $0.10 (" Warrant "). Each FT Unit was issued at a price per FT Unit of $0.05 and is comprised of one Common Share which will qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant.
The Warrants are subject to an accelerated expiry option whereby the Company can trigger an accelerated 30-day expiry of the Warrants if the closing price of the Company's Common Shares listed on the Canadian Securities Exchange (the " CSE ") remain higher than $1.00 for 10 consecutive trading days. On the 10th consecutive trading day above $1.00 (the " Acceleration Trigger Date "), the Expiry Time may be accelerated to 30 trading days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration, within two trading days of the Acceleration Trigger Date.
The Company paid an aggregate $1,450 in cash commissions and issued an aggregate of 28,000 compensation warrants (the " Compensation Warrants ") in connection with Tranche Three. Each Compensation Warrant entitles the holder to acquire one Common Share for a period of 36 months from issuance at an exercise price of $0.05.
Proceeds of Tranche Two will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project, in addition to general working capital. All securities issued pursuant to the Tranche Two are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Company looks forward to continuing to advance its planned exploration program on the Drayton-Black Lake Project on schedule.
As part of the closing of Tranche Two, the Company settled $75,000 in debt obligations through the issuance of 1,500,000 Common Shares at a price of $0.05 and issued 2,180,000 Common Shares to directors and officers pursuant to the Company's equity incentive policies upon the recommendation of the compensation committee of the Company's board of directors.
For further information about the Company, please see the Heritage's profile on SEDAR at www.sedar.com .
ABOUT Heritage Mining LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo – Chief Executive Officer, President 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 any forward‐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 Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Heritage Provides Exploration Update on New Millennium Prospect
(TheNewswire)
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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - March 24, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that samples have been submitted on Saturday March 22, 2025 from the New Millennium 2025 diamond drill program targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship exploration project Drayton Black Lake (" DBL ") (Figure 2 and 3). The Company anticipates recommencing drilling on Zone 3 Extension Prospect in short order.
New Millenium Target Historical Highlights:
The Company's 2025 diamond drill program drilled under historical trenches which had results up to 5.18oz/ton Au and 4.8oz/ton Au, +1,000g/t Ag, 0.37% Cu, %0.078 Mo, +1%Pb, 0.68%Zn
The Company has confirmed these findings at surface in prior work programs returning up to 2,330 g/t Au (grab) in the immediate vicinity of the above-mentioned trenches tracing over 300m at surface
Multi-elemental analysis from prior channel sampling programs supports positive correlation between Au and Te, Ag, Cu, Pb, Zn. When combined with visual inspection of core, shows similarities to mineralization at Zone 3, an intrusion related gold mineralization system identified in 2024 comparable to Hammond Reef style mineralization.
New Millennium Target Highlights (Press Release: February 27, 2025)
Total 556m in nine holes completed vs planned 370m over seven holes. Additional meterage was driven from favorable mineralization intersection. All samples are delivered to the lab as at Saturday March 22, 2025.
Drill holes show multiple occurrences (up to 51.40m core length) of variably mineralized shear zone material, local granitic/felsic intrusions, and massive to semi massive quartz veins (Figure 1) in seven of the nine holes drilled.
The presence of chalcopyrite with pyrite in chlorite-carbonate alteration with patchy k-feldspar alteration in quartz veins and wall-rock is reminiscent of some of the best Au-bearing intercepts at the nearby Zone 3 Prospect that were drilled in 2024 (September 20, 2024 Press Release).
Click Image To View Full Size
Figure 1: HML025-006 Select photograph showing variably mineralized shear zone material hosting semi massive fine grade pyrite filling laminations within massive to semi massive quartz veins associated with k-feldspar altered granite.
"The historical significance of the recently acquired (100% owned) New Millennium target area is very impressive and important to mention as we look forward to assay results. Our systematic exploration approach has successfully intersected significant mineralized core lengths, which is an interesting twist compared to the historically observed high-grade but narrow veins at surface.
It seems to widen at depth, which is a very good sign, considering we have only drilled up to 87m.
We are also looking forward to drilling Zone 3 (DBL Project) and the Rognon Mine are (Contact Bay Project), both of which are high potential drill target areas.
For some time now, we have secured a controlling position on our projects within one of the last underexplored greenstone belts with fantastic access in Northern Ontario. I would like to thank the technical team for their contributions to a successful 2025 drill program thus far, and I look forward to the assay results, continued drilling, and our growth together." Commented Peter Schloo, President, CEO and Director of Heritage
Click Image To View Full Size
Figure 2: DBL Total Property Outline
Click Image To View Full Size
Figure 3: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
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 any forward‐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 Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Walker Lane Resources to Present at Sidoti Virtual Investor Conference, May 21-22, 2025
Walker Lane Resources Ltd. (TSX-V: WLR; Frnkfurt:Z5MP),("Walker Lane" or the "Company") is pleased to announce that Kevin Brewer, President and CEO of Walker Lane Resources Ltd. will present and host one-on-one meetings with investors at the Sidoti May Virtual Investor Conference, taking place on May 21-22, 2025.
The presentation will be providing an update on opportunities arising from the Company's recent property acquisitions in the Walker Lane Gold Trend in Nevada and its exploration plans for the upcoming 2025 exploration season. The presentation is scheduled for 3:15-3:45 PM (Eastern Standard Time) on May 21, 2025. Mr. Brewer will also host virtual one-on-ones with investors on Wednesday and Thursday, May 21-22, 2025.
To register for the presentation or one-on-ones, visit www.sidoti.com/events . Registration is free and you don't need to be a Sidoti client.
About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")
In 2023, Sidoti & Company, LLC, Sidoti & Company, LLC ( www.sidoti.com ) formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 160 equities, of which 50 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Events benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with approximately 2,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon and Newfoundland and Labrador. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects through an aggressive drilling program to resource definition stage in the near future.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013 kbrewer80@hotmail.com
Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plans", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" "targeted", "can", "anticipates", "intends", "likely", "should", "could" or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated thereon.
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New program to target high grade extensions to Happy Valley
HIGHLIGHTS:
- Advance’s initial exploration program at Myrtleford is now complete with eight holes drilled for a total of 1,665.4 metres
- Results for the first four holes from the Happy Valley prospect were recently released, with high grade intervals including 8.2 metres at 22.4g/t Au in AMD0012, 2.G metres at 6.7g/t Au in AMD0023, 7.5 metres at 47.Gg/t Au in AMD0033 and 1.1 metres at 18.2g/t Au in AMD0044
- Results are currently pending for four holes (AMD005-008) drilled in the Twist Creek region at Myrtleford, with final assays expected in June
- Advance’s Board have now approved a significantly expanded, ten-hole follow-up program for the Happy Valley Trend that will comprise:
- Six additional diamond holes at the Happy Valley Prospect targeting extensions to the known high grade gold mineralisation up and down plunge and along strike (Figure 1)
- Maiden drilling at Sheard’s Reef (two holes) and Queen of the Hills (two holes), extending drilling over a six-kilometre portion of the Happy Valley Trend
- Drilling is expected recommence in approximately four weeks, subject to the receipt of requisite approvals
- Additional drilling at regional targets in the Barwidgee and Twist Creek areas is also currently being investigated, with these targets to be finalised upon receipt of the pending drilling results at the latter
Figure 1. Schematic long section looking southwest at Happy Valley showing proposed follow-up drilling locations (yellow crosses), targeting extensions to the known high grade gold mineralisation1-4.
New drilling program to extend high grade zone at Happy Valley
After commencing its maiden drilling campaign in late February 2025, Advance Metals has now completed an eight hole program at the Myrtleford Project in the northeastern Victorian Goldfields. A total of 1,665.4 metres was drilled in the initial program, with impressive high grade gold results recently released for the first four holes completed at the Happy Valley Prospect (Figure 1). This included 8.2 metres at 22.4g/t Au incl. 3.2 metres at 54.7g/t Au in AMD001, 2.G metres at 6.7g/t Au in AMD002, 7.5 metres at 47.Gg/t Au incl. 1.3 metres at 271.6g/t Au in AMD003 and 1.1 metres at 18.2g/t Au in AMD0042,3,4.
The intersection of high to very high grade gold mineralisation in all four of the initial holes at Happy Valley has given the Company significant confidence in the ongoing potential of the system. The Company’s Board have now approved a significant follow-up drilling program that will target extensions to the known gold mineralisation both up and down plunge and along strike in both directions (Figure 1). The program is currently expected to comprise an additional six holes in the immediate Happy Valley Prospect area, with drilling to recommence at the site in approximately four weeks - subject to the receipt of requisite government approvals.
The proposed program will also feature maiden diamond holes at new prospects in both directions along strike of the Happy Valley Mine, extending drilling to a six-kilometre portion of the broader Happy Valley Trend. Two holes are currently planned for existing historic workings at Sheard’s Reef, located approximately 1.5km to the west-northwest of the current drilling, targeting beneath high grade rock chips of up to 42.5g/t Au4. Two holes are also planned at Queens of the Hills 4.5 kilometres to the east-southeast (Figure 2). These holes are currently expected to be completed immediately following the drilling at the Happy Valley Mine.
Figure 2. Plan of the southeastern portion of the Myrtleford Project highlighting previous and new rock chip sampling over the Happy Valley Trend (ASX AVM 17 January & 5 May 2025) along with proposed drilling along a six-kilometre portion of the trend.
Click here for the full ASX Release
This article includes content from Advance Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Barrick Sets the Standard in Advancing United Nations' Sustainable Development Goals
All amounts expressed in US dollars
As the world moves towards the United Nations' Sustainable Development Goals 2030 target, Barrick Mining Corporation (NYSE:B) (TSX:ABX) remains committed to playing its part by driving economic growth, enabling social progress and protecting the environment, says president and chief executive Mark Bristow in the company's 2024 Sustainability Report published today.
Called Beyond the Horizon , the report highlights Barrick's journey from the transformational merger in 2019 to becoming a leader in responsible mining, underscoring its commitment to sustainability-driven growth, community empowerment and environmental stewardship, focused on long-term value creation and measurable outcomes.
"When we created the new Barrick in 2019, our vision was to build a business that delivers sustainable value for generations to come. Today, that vision is becoming reality. We're contributing meaningfully to our host countries' economies, developing local business capacity, and leaving a lasting legacy across every region where we operate. At Barrick, sustainability is not part of the business — it is the business. We make concrete plans, invest in their delivery and measure our impact at the community level to ensure real, lasting change. As Barrick grows, so do the opportunities for our host communities," he says.
In the six years since the merger, Barrick has distributed over $100 billion in economic value across its host countries through wages, local business support and tax contributions. Barrick's Community Development Committees (CDCs), established at every site, have invested more than $200 million in community-led projects. These include schools, clinics, water infrastructure and sustainable farming programs, all managed directly by local communities to ensure projects meet real needs and drive long-term economic resilience. This year's report demonstrates that the value invested is only the start, and key metrics, aligned with the SDGs, are focused on tangible improvements to eradicate poverty, are tracked through time, and with ambitious targets set for 2030.
As Barrick Mining Corporation enters a new growth phase through the rest of the decade, it has also recalibrated its greenhouse gas (GHG) emissions profile and reduction roadmap to align with its expanding production base, and increased renewable energy footprint supporting its ambitious Net Zero by 2050 target.
"We're not buying our growth — we're building it," says group sustainability executive Grant Beringer. "That means we're adding new emissions, not inheriting existing ones. Our forecast has been updated to transparently reflect this, and we continue to invest in renewables, energy efficiency and supplier engagement to ensure we scale with discipline. Our 2050 Net Zero commitment remains firm – while our medium-term emissions targets are still aligned with our original principles, albeit linked to emissions intensity reductions, in line with our evolving production profile."
This year, Barrick introduced a new site-level Sustainable Development Goal (SDG) performance framework, setting a benchmark for transparent, community-focused progress. This framework tracks site-level development across indicators such as clean water, education and healthcare, reflecting Barrick's commitment to measurable impact in line with the United Nations SDGs.
"We use the SDGs not as a communications tool but as a delivery framework," says Beringer. "Whether it's reducing malaria in the DRC, improving maternal health in Pakistan, or restoring water infrastructure in Argentina, our success is measured in real-world outcomes for real people."
Other highlights for the year include the fact that 97% of Barrick's employees and 76% of its senior site management are host country nationals. In 2024, Barrick spent $7.1 billion with local and in-country suppliers, driving local business growth and economic resilience. The company also reused or recycled 85% of its water intake, and major solar and hydro investments are currently underway in Pakistan, Argentina and the DRC.
The full 2024 Sustainability Report, Beyond the Horizon , is available on Barrick's website at www.barrick.com/sustainability .
Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this release and the Sustainability Report, including any information as to our sustainability strategy and vision, targets, projects, plans, or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as "vision", "strategy", "believe", "expect", "target", "plan", "commitment", "objective", "aim", "goal", "continue", "budget", "potential", "may", "will", "can", "should", "could", "would", and similar expressions. In particular, this release and the Sustainability Report contain forward-looking statements including, without limitation, with respect to: (i) Barrick's sustainability strategy and vision; (ii) Barrick's environmental, health and safety, corporate social responsibility (including social and economic development, water management, tailings, hazardous waste management, diversity, equity and inclusion, community relations, resettlement and disease prevention), human rights and biodiversity programs, policies and performance; (iii) Barrick's climate change strategy and associated greenhouse gas emissions reductions targets, including with respect to our Scope 3 emissions and associated targets, as well as the estimated capital expenditures required and our ability to meet our greenhouse gas emissions reduction targets; (iv) climate risks and opportunities identified through our climate scenario analysis; (v) the estimated timing and ability of Barrick to achieve environmental, social, health and safety, and energy reduction targets, including our greenhouse gas emission reduction targets; (vi) Barrick's strategy to address legacy human rights issues and planned independent site assessments; (vii) the anticipated benefits of Barrick's renewable energy investments, including solar projects at Reko Diq, Nevada Gold Mines and Kibali; (viii) Barrick's 2025 materiality assessment; (ix) the status of negotiations with the Government of Mali in respect of ongoing disputes regarding the Loulo-Gounkoto Complex and Barrick's commitment to reach a mutually acceptable solution; and (x) our joint ventures, partnerships and industry association memberships.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Barrick as at the date of this Sustainability Report in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: damage to the Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick's handling of environmental matters or dealings with community groups, whether true or not; changes in national and local government legislation, taxation, controls or regulations, and/or changes in the administration of laws, policies, and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States, and other jurisdictions in which Barrick does or may carry on business in the future; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with diseases, epidemic and pandemics; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; whether benefits expected from recent transactions are realized; employee relations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to related to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick's ability to achieve its sustainability goals, including our climate-related goals and greenhouse gas emissions reduction targets, in particular our ability to achieve our Scope 3 emissions targets which requires reliance on entities within Barrick's value chain, but outside of the Company's direct control, to achieve such targets within the specified time frames risks associated with artisanal and illegal mining; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); changes in U.S. trade, tariff and other controls on imports and exports, tax, immigration or other policies that may impact relations with foreign countries, result in retaliatory policies, lead to increased costs for raw materials and components, or impact Barrick's existing operations and material growth projects; the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licences by governmental authorities; failure to comply with environmental and health and safety laws and regulations; and our ability to successfully close and integrate acquisitions or complete divestitures. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance.
All of the forward-looking statements made in this release and the Sustainability Report are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this release and the Sustainability Report.
Barrick Mining Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Uvre to Acquire Highly Prospective Gold Exploration Projects in New Zealand
Highlights
- Uvre has signed a binding agreement to acquire 100% of the fully paid ordinary shares in the capital of Minerals Exploration Limited (MEL) from the shareholders of MEL (Vendors). MEL’s wholly owned subsidiary is New Zealand gold explorer Otagold Limited (Otagold).
- Highly regarded mining executives Norman Seckold and Peter Nightingale, who are major shareholders of MEL, will join Uvre as Non-executive Directors.
- Norman Seckold was previously Chairman of the New Zealand gold developer Santana Minerals (ASX:SMI) and is currently Chairman of Alpha HPA (ASX:A4N), Nickel Industries (ASX:NIC), Fulcrum Lithium (ASX:FUL) and Sky Metals (ASX:SKY).
- Subject to receipt of Shareholder approval, Uvre will issue 75 million fully paid ordinary shares in the capital of Uvre (Shares) at a deemed issue price of 8c per Share for a total of $6.0 million as the full consideration to the Vendors, including Mr Seckold who is the largest shareholder of MEL.
- The acquisition of MEL is subject to completion of several conditions precedent, including due diligence on MEL, Otagold and the permits held by Otagold. The acquisition is also contingent on Uvre raising at least $4.0 million in a single tranche share placement at 8c per Share, to be lead managed by Bell Potter Securities Ltd (Equity Raise). The Equity Raise will be subject to shareholder approval.
- Firm commitments have been secured for the $4.0m Equity Raise following a well-supported bookbuild, including incoming directors Norman Seckold ($500,000) and Peter Nightingale ($100,000) subject to shareholder approval.
- Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application in New Zealand covering 332sqkm of highly prospective ground (the Permits).
- Otagold’s flagship asset is the Waitekauri Gold Project located 8km west of OceanaGold Corporation’s Waihi gold mine (10Moz) on New Zealand’s North Island; Waitekauri also sits adjacent to three other +1Moz Au deposits.
- Extensive gold mineralisation and numerous drilling targets already identified at Waitekauri, which had historical production grade of 48g/t Au+Ag.
- Uvre has executed a binding Share Sale Agreement (SSA) with the Vendors, MEL and Otagold with due diligence well advanced; Uvre will shortly call a shareholder meeting to approve the transaction, expected to be around the end of June 2025.
Uvre Executive Chairman Brett Mitchell said:
“This transaction is an exceptional opportunity for Uvre on several levels.
“Norm and Peter will bring a wealth of knowledge and experience in the resources business, along with a track record of creating substantial shareholder value through resource asset exploration and proįect development.
“The Otagold proįects led by Waitekauri have compelling gold exploration upside in a tier-one įurisdiction, as shown by the extensive mineralisation and drilling targets already identified.
“The combination of Norman’s well-known record in building successful mining proįects combined with the talented Uvre team, the immense exploration upside at these proįects and the strong financial position which will follow the placement will leave Uvre very well-placed to create significant value”.
Norman Seckold said:
“This transaction will enable Uvre to unlock what we believe is the substantial value of these proįects.
“We will have the assets, the team, the experience and the financial strength to conduct the immediate exploration programs which will maximise our ability to create value.
“The work we have already done on the proįects shows they are highly prospective and with the support of the Uvre team and access to capital, we can take them to the next level with the aim of building substantial gold inventories in a tier one location”.
Otagold Projects Summary
Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application on New Zealand’s North and South Islands, covering 332km2 of highly prospective ground.
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This article includes content from Uvre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Bold Ventures
Investor Insight
A Canadian exploration company poised for discovery, Bold Ventures is focused on the exploration and development of high-potential precious and battery minerals projects in tier 1 jurisdictions in Canada.
Overview
Bold Ventures (TSXV:BOL) is a Canadian mineral exploration company focusing on battery, critical and precious metals located in Northern Ontario and Quebec. The company's asset portfolio demonstrates its focus on these commodities to create consistent value with gold and meet the growing demand for battery and critical metals.
Bold Ventures' key projects are located within three active regions throughout Ontario: Thunder Bay West, Wawa West and the Ring of Fire camp located in the James Bay Lowlands. The Thunder Bay properties host gold and copper mineralization, while the Wawa and Ring of Fire properties have copper, gold, and chromium mineralization with additional potential for zinc, nickel, silver and PGE mineralization. The newly added Springpole East gold and Joutel gold and base metal projects expand Bold’s footprint into additional high-potential areas.
The Burchell gold and copper project, west of Thunder Bay, is Bold’s flagship property with a newly discovered high-grade gold occurrence as well as historical drill intersections of highly anomalous gold and copper. The project is ideally positioned next to Goldshore Resources Inc.’s Moss Gold Project hosting the Moss Gold Deposit of nearly 6 million ounces of gold in the indicated and inferred resource categories.
The 100 percent owned Traxxin gold project, west of Thunder Bay, has shown numerous high-grade gold intersections in drilling. The project is a joint venture between Bold Ventures, as the operator, and Lac des Mille Lacs First Nation, where the joint venture can earn up to 100 percent of the property.
An experienced team of explorers leads the company toward fully realizing the potential of its portfolio. The company's leadership team has participated in three significant world-class discoveries, including:
- Eagle River Mine: Discovered in 1987 by Central Crude/Noranda and has produced over 1 million ounces (Moz) of gold.
- Windfall Lake: Discovered by Noront circa 2006, currently owned by Osisko (purchased by Goldfields for $2.16B), it contains 4.1 Moz @ 11.4 grams per ton (g/t) gold indicated and 3.3 Moz gold @ 8.4 g/t gold inferred for a total of 7.4 Moz gold in all categories.
- Ring of Fire Deposits: Discovered in 2007 and contain multiple significant deposits including Eagle's Nest, Eagle Two and Blue Jay (AT-12) Nickel-Copper Massive Sulphide Deposits, Blackbird Chromite Deposit and Thunderbird Vanadium Occurrence.
This wealth of experience allows Bold Ventures to strategically acquire undervalued assets and apply sophisticated exploration techniques to identify significant mineral deposits.
Company Highlights
- Bold Ventures is a Canadian mineral exploration company focused on exploring and developing its precious and critical mineral projects in Northern Ontario.
- The company owns and operates several projects throughout three key regions of Ontario: Thunder Bay West, Wawa West and the James Bay Lowlands-Ring of Fire.
- The company has been advancing its copper and gold projects to the drill stage.
- The Burchell gold and copper project is located 100 km west of Thunder Bay and enjoys major road access, rail, power, and an experienced mineral exploration workforce and mining supply located within hours of the property. The project hosts the newly discovered (Nov 2024) 111 Gold Zone as well as historical gold anomalies on surface and drill core along strike from the Moss Deposit to the west, owned by Goldshore Resources Inc.
- The Traxxin gold project is located 130 km west of Thunder Bay and is similarly accessible. It boasts the Company’s best gold intersection in drill core which is hosted in a similar geological setting to Agnico Eagle’s Hammond Reef Gold Deposit in the district.
- The Koper Lake project is located within 300 meters of Ring of Fire Metals' (formerly Wyloo/Noront) flagship Eagle's Nest Nickel-Copper deposit. It hosts a large chromite resource and attractive nickel potential.
- Bold Ventures continues to expand its portfolio with two promising new acquisitions – the Springpole East gold project in Ontario and Joutel gold and base metals projects in Quebec – both strategically positioned in established mining districts.
- Bold Ventures' management team has decades of experience within the mining sector. The management and technical teams have participated in three world-class discoveries and have the right experience to guide the company toward its goals.
Key Projects
Burchell Gold and Battery Metals Project
The Burchell claim group covers 4,607 hectares (11,384 acres) comprising 242 claims and is located 100 kilometers west of the port city of Thunder Bay in Northwestern Ontario. The project is road-accessible south of the Trans-Canada Highway 11.
Project Highlights:
- Located in the Western Shebandowan Greenstone Belt: The Burchell project is located on this high-potential, active mineral belt and contains copper, gold, silver, nickel, zinc, molybdenum and other minerals.
- Contiguous with Significant Gold Property: The Burchell property is contiguous with Goldshore Resources' Moss gold project. The Moss Lake gold deposit lies within a major 25 km NE-trending structural corridor which also hosts the past-producing North Coldstream Mine and the East Coldstream gold deposit. Approximately 1.8 km of this mineralized trend lies in the NW corner of the Burchell property, hosting historical gold occurrences.
- New Discovery (November 2024): A new zone called "111 Zone" was discovered in the center of the property, situated within a prominent magnetic low. Samples ranged from 10 ppb gold to 68 g/t gold in sheared, silicified, sericitized volcanic rocks. Historical trenches along strike to SW of 111 Zone in SW corner of property yielded rock samples up to 42 g/t gold. Historical Newmont drilling in the NW corner of the property returned 0.9 g/t gold over 6.4 m.
- Recent MMI Samples (November 2024): Soil samples in the NW corner of the property, along strike from the Moss Trend, returned high response ratios for gold (up to 40), copper (up to 61), molybdenum (up to 369), zinc (up to 93), and uranium (up to 52). Several samples in the northern half of the survey showed coincident gold, copper, molybdenum response ratios >10.
- Hermia Lake Copper-Gold Prospect: This prospect extends for 2.8 km along a northeast trend. Historical diamond drilling includes intercepts of 0.8 percent copper over 4.3 m (Great Lake Copper Mines in 1956), 0.25 percent copper over 51.9 m (Gulf Minerals in 1981), and 1.4 g/t gold over 7.2 m (Mengold in 2008).
Traxxin Gold Project
The 100 percent owned Traxxin gold project is 130 km west of Thunder Bay and has 209 claims covering 3,885 hectares (9,600 acres). The project has excellent existing infrastructure and is road-accessible, located between two major highways, cutting down on future development costs.
Project Highlights:
- Close Proximity to Significant Gold Deposit: The project is 40 km east of Agnico Eagle's Hammond Reef deposit, which contains 5.6 Moz of gold at 0.71 g/t, including reserves, measured and indicated.
- Promising New and Historical Exploration Results: Bold Ventures' 2021 drill hole campaign results indicated 3.57 g/t gold over 12.29 meters, including 6.13 g/t gold over 4.88 m. Additional historical results include:
- Grab samples 1281, 152, 116, 21.1 and 3.73 g/t gold
- Five historical drill holes with greater than 5 g/t gold over various intervals
- One historical drill hole greater than 37 g/t gold over 1 meter
- Exploration Campaigns: Trenching at the Main Zone and Tear Drop Lake in 2021 returned channel samples up to 9.08 g/t gold. In 2024, shoreline prospecting on Bedivere Lake yielded gold values up to 345 (parts per billion (ppb)) gold on an island northeast of Traxxin Main Zone.
- The gold bearing shear zone remains open in all directions with potential for extending the Main Zone to the north via geophysics and exploring the southern extension.
Farwell Gold-Copper Project
The Farwell project covers 6,440 hectares (15,914 acres) comprising 133 claims. The property is located in the Lake Superior east region of Northeastern Ontario, approximately 55 km northwest of Wawa, and in a proven gold camp.
Project Highlights:
- Promising Geological Formations: The claim group hosts gold-bearing quartz veins located within an iron formation that stretches along the western extensions of a major deformation zone. Additionally, there is base metal volcanogenic massive sulphide (VMS) style mineralization of copper, zinc, lead and silver. The property also features deformed "Timiskaming" style conglomerates along the gold mineralizing trend (similar to Kirkland Lake, Geraldton).
- Exploration Highlights and Future Drill Targets: A versatile time domain electromagnetic (VTEM) survey has identified multiple anomalous areas for future drilling. Additional results and interpretation were incorporated into the existing database for future exploration and, ultimately, for drill testing. The company completed geophysical modelling of six high priority electromagnetic conductors identified by a helicopter-borne, VTEM and magnetic survey.
- Road-accessible: The claim group is accessible via the Eagle River gold mines haulage road and is located approximately 6 km from the Eagle River Mill complex that also connects to major highways suitable for future material transportation.
Wilcorp Gold Project
The Wilcorp gold project covers 264 hectares (652 acres) and consists of four patented claims, 15 single cell and three boundary cell mining claims. The asset is 17 kilometers south of Agnico Eagle's Hammond Reef Deposit and 32 kilometers west of Traxxin, within the Thunder Bay Mining Division. New drill targets have been identified for follow-up exploration.
Project Highlights:
- Historical Results: The "Eagle Prospect" area has significant historical gold discoveries. Maps from 1946 indicate values up to 11.1 g/t gold over 4.1 m including 30.8 g/t gold over 0.8 m in core (unsubstantiated in the modern era). Recent values include up to 16.3 g/t gold in an area where 1990s drilling returned 1.8 g/t gold over 7.6 m.
- Sampling Results: In 2012, 62 grab samples ranged from <5 ppb gold up to 14,403 ppb gold (14.4 g/t gold), and in 2024, 39 grab samples ranged from <5 ppb gold up to 16,300 ppb gold (16.3 g/t gold).
- Induced Polarization (IP) Surveys: A 2012 IP survey identified several trends that are targets for exploration.
- Geological Setting: The property is proximal to the Quetico Fault, a major east-west fault zone. Gold mineralization is hosted in shear zones in volcanic and dioritic rocks which are subparallel to the Quetico Fault.
- Significant Historical Work: The property has pre-existing historical work, including stripping, trenching and diamond drilling which identified significant gold zones.
Koper Lake Project (Ring of Fire)
Project Highlights:
- Multiple Commodity Streams: The Koper Lake project has significant potential for critical minerals. The property has the potential to develop battery metals, chromite and precious metals for multiple revenue streams.
- Within the Koper Lake project, the Black Horse Chromite Deposit contains an NI 43-101 inferred resource of 85.9 MT at a grade of 34.5 percent chromium (III) oxide (Cr2O3) using a cutoff grade of 20 percent Cr2O3.
- Black Horse Chromite Ownership Interests:
- Bold 10 percent carried interest (through to production), KWG 90 percent working interest
- Black Horse Chromite Ownership Interests:
- All Other Metals (Green and Battery Metals including Nickel, Copper, PGEs; Precious Metals including Gold and Silver) Ownership Interests:
- Bold 40 percent working interest, KWG 60 percent working interest
- Bold has option to earn up to 80 percent working interest leaving KWG with a 20 percent working interest
The asset comprises 1,024 hectares and is located less than 300 meters from Ring of Fire Metals' (formerly Noront Resources) Eagle's Nest Nickel-copper massive sulphide deposit, which is in the permit stage.
Ring of Fire Claims
The Ring of Fire asset is a future key project that will be given further attention as the Ring of Fire regional infrastructure and First Nation agreements are developed.
Project Highlights:
- The Ring of Fire Claims project is a grassroots exploration project that has significant potential targeting the battery metals nickel, copper and platinum group elements.
- Bold carried out a VTEM airborne survey in 2013 that located numerous geophysical anomalies that are prospective for battery metals.
- Further exploration is pending the development of access, infrastructure and First Nation agreements.
In June 2024, Bold Ventures signed an agreement to option a 100 percent interest in two claim groups out of the 14 claim groups within the Ring of Fire region to an arm’s-length party. The two claim groups total 1,050 hectares and comprise approximately 90 claim units. The option agreement includes aggregate cash payments totaling C$135,000 and aggregate exploration expenditures of C$250,000 over a four-year period. The deal also includes a 3 percent net smelter royalty for Bold, after the optionee earns a 100 percent interest by fulfilling the terms of the agreement.
Springpole East Gold Project
The Springpole East gold project is one of Bold Ventures’ newest project acquisitions strategically positioned in an established mining district. This property covers 4,180 hectares across 208 single cell claims in northwestern Ontario, located just 120 km east-northeast of Red Lake and merely 9 km east of First Mining Gold's substantial Springpole gold deposit (containing 4.6 Moz of gold at 0.94 g/t in the indicated category and an additional 0.3 Moz at 0.54 g/t in the inferred category). The project shares a boundary with First Mining's land package, positioning it within a proven gold-bearing geological trend.
Despite its promising location, Springpole East has seen relatively limited systematic exploration. The most recent work in 2022 by GoldON Resources included high-resolution airborne magnetic surveys and prospecting that yielded encouraging results, including the discovery of altered granitic boulders with gold values ranging from 191 to 1,270 ppb. Of particular interest is the nearby Canamer or Birch Lake East Occurrence just 1.3 km west of the property boundary, where First Mining reported impressive grab samples yielding 15.3 g/t gold in 2022. This showing occurs in banded iron formation – a rock type that has been mapped in the northwest portion of Springpole East and corresponds with prominent magnetic anomalies identified during previous surveys.
Joutel Gold and Base Metal Project
Complementing its Ontario-based acquisition, Bold has also added the Joutel gold and base metal project in Quebec to its exploration portfolio. Located 140 km northwest of Val d'Or with favorable logging road access, this property comprises 41 claims across two claim groups covering 2,269 hectares. Bold is already familiar with the area, having conducted airborne VTEM and magnetic surveys in 2012, identifying several anomalies that remain underexplored.
The Joutel project sits in a historically productive mining region, just 6.5 km south-southeast of the former mining town of Joutel in Poirier Township. Its strategic location places it within 12 km of the past-producing Joutel gold mine and less than 10 km from previous base metal operations. A particular point of interest is its proximity (6 km) to the Explo-Zinc deposit, which hosts a 2006 mineral resource estimate of 588,000 tons grading 7.63 percent zinc and 0.35 percent copper in the indicated category, plus 273,000 tons at 6.64 percent zinc and 0.21 percent copper in the inferred category.
Historical drilling of VTEM anomalies in the area has produced encouraging results, including intersections of 0.83 percent nickel over 3.7 meters (including a higher-grade section of 1.27 percent nickel over 2.3 meters) and 0.51 g/t gold over 3.05 meters. These results highlight the property's polymetallic potential, with Bold targeting nickel, gold, silver, copper and zinc mineralization.
Management Team
David Graham - Chief Executive Officer and Director
David Graham has been active in the mineral exploration industry for over 40 years. Between 1997 and 2004 he was co-founder, president and CEO of Normiska Corporation, an industrial minerals and materials company with four production facilities in Canada and the United States.
Between 2006 and 2010 he was a director and vice-president of Noront Resources. During this time the company made major discoveries at Windfall Lake in Urban Twp., Quebec and the Ring of Fire in the James Bay Lowlands of Ontario. From 2010 until 2017 he was executive vice-president of Bold Ventures Inc. at which time, he was appointed president and CEO.
Mr. Graham has worked extensively in Canada as well as in the United States, Scandinavia and Africa. His experience has frequently included working with First Nations and regulatory agencies on projects that ranged from a grassroots stage to advanced development. He is a member of the discovery team for Eagle River, Windfall, and the "Ring of Fire" Noront deposits.
Bruce MacLachlan - President and Chief Operating Officer
With over 40 years of experience in the exploration industry, Bruce MacLachlan is a proven exploration manager and has been a key member of a number of mineral discovery teams, including Eagle River. He has managed a wide range of exploration projects from grassroots through to the post-discovery stage. MacLachlan has been responsible for project presentation, marketing and coordination within the investment space. He has worked with multiple exploration companies, including Noranda Exploration, Battle Mountain Gold and CanAlaska Uranium. He was the exploration manager at Noranda Exploration, Battle Mountain Gold, and CanAlaska Uranium. He is a co-founder and president of Emerald Geological Services (EGS), a consulting company created in 2001.
Coleman Robertson - Vice-president of Exploration
Coleman Robertson is a professional geologist who has worked exploring for gold, base metals and rare earth elements. His experience includes a wide range of exploration activities from grassroots to discovery stage projects. Employed by EGS since 2017, Robertson is vice-president of exploration for EGS and has experience with multiple projects in multiple jurisdictions, including Bold's gold and copper projects in Northwestern Ontario.
Robert Suttie - Chief Financial Officer
Robert Suttie currently serves as CFO with over 40 years' experience as a consultant raising capital for emerging companies. He has been a director/executive at several private/public corporations.
William Johnstone - Corporate Secretary and Legal Counsel
William Johnstone is the company's corporate counsel and corporate secretary. Johnstone has been a partner at Gardiner Roberts LLP since February 2005, practicing in the areas of corporate and securities law for over 40 years.
Ian Bodie-Brown - Director
Ian Bodie-Brown is an industry consultant with over 35 years' experience. He is chairman of Rio Silver (on the TSX Venture Exchange) and a professional geologist.
Steve Brunelle - Director
Steve Brunelle is a professional geologist with over 35 years' experience and is the chairman of Rio Silver (on the TSX Venture Exchange).
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