The Conversation (0)
(TheNewswire)
 | |||||||||
 |  |  |  | ||||||
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased announce significant advancements in the first few weeks of its fully permitted Phase 1 exploration drilling program at the flagship Drayton – Black Lake project (the “Project”) (Figure 1), located near Sioux Lookout, Ontario. The Project is located within Eagle-Wabigoon-Manitou greenstone belt of the Wabigoon Subprovince, which also hosts the Treasury Metals Inc. (TSE:TML) Goliath-Goldlund deposits.
Exploration Update:
New Millennium Area (Never Drilled): At least three mineralized deformation corridors consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins. A 5m wide orogenic load gold style sheeted quartz veins identified in the hanging and foot wall was identified on the first day of mapping at the Project. Pyrite, Chalcopyrite, and Galena observed in the vein system, similar to New Millennium veins sampled to the north. Grab sample assays pending (Figure 2). The Company has also secured a contractor to clear a trail to the New Millennium Area for proposed drilling by month’s end, weather permitting.
Peter Schloo, President, CEO and Director commented, “A fantastic find on the team’s first day at New Millennium and the largest vein in the area to date. Leveraging our local relationships, we have secured a permitted trail ahead of schedule. The trail will provide for better access thereby increasing operational efficiency and the number of available drill targets. We will continue to work with all stake holders to advance the area in a collaborative manner inclusive of all stakeholders.”
Alcona Area: Mineralized deformation corridor over 1,000 m (up to 200 m wide) consisting of multiple discrete
zones of deformed volcanic rocks and shear parallel quartz veins. The team confirmed significant galena, pyrite, chalcopyrite and sphalerite associated with a 15m corridor of primary and secondary quartz veins at the Powerline Prospect (never drilled) which has been upgraded from proposed to drill ready-status (Figure 3).
Peter Schloo, President, CEO and Director commented, “The Powerline Prospect is a great window into the Alcona Area. This extension has never been drilled and is now a priority drill target with the potential of extending strike at depth. The access is fantastic, with logging active in the area, providing additional exploration upside.”
Moretti Area: Mineralized deformation corridor over 2,500 m consisting of discrete zones of deformed volcanic rocks and shear parallel quartz veins ranging from cm to meter scale. New Logging activities in the north eastern portion of the Property allow for improved access, ideal for prospecting and drilling over more than five historic mineral occurrences on the property inclusive of the advanced target, Moretti.
Peter Schloo, President, CEO and Director commented, “Recent logging activities is fantastic for our project. This increases the probability of new discovery and optimizes capital and operational efficiency pertaining to prospecting and drilling access. There is even a logging road going right past where we want to drill at Moretti. Simply put, We spend less time and capital getting there, and more time being there, fantastic.”
Corporate Update:
In less than two weeks from mobilization, the Company has secured vital equipment for Phase 1 mapping and exploration and coreshack facilities (Figure 5).
Figure 1: Heritage Mining Claims Package
Figure 2: CEO Peter Schloo and Exploration Manager Bobby Scott standing on Quartz Reef, Powerline Prospect, Alcona Area.
Figure 3: New Millennium Prospect
Figure 4: NEW DISCOVERY, 5-Meter-wide quartz vein at New Millennium Prospect, Never Drilled.
Figure 5 – Core Shack Facility and Equipment
Qualified Person
Robert Scott, Exploration Manager 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.
HML:CC
Heritage Mining Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
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.
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.
James Fairbairn - Director and Chair of Audit Committee
James Fairbairn is a chartered accountant with over 25 years of experience in corporate governance, leadership, mergers and acquisitions, corporate finance and management reporting. Fairbairn has served as a senior officer and/or director in both public and privately held companies.
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.
Intersects Visible Gold and Multiple Zones of Sulfide Mineralization - 4 Holes Rush Au Analysis
VANCOUVER, BC TheNewswire - August 28, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to provide an update on the completion of its 2024 drilling program at the Zone 3 prospect (Figure 1), at its flagship Drayton-Black Lake project (" DBL ").
Highlights:
Visible Gold ("VG") observed in hole one (HML24-001) (Figure 2).
|
|
Figure 2: Visible gold lies in a fracture within white vein quartz and is associated with pyrite, galena and possible molybdenite. | |
The Company has intersected multiple zones of pyrite mineralization with local patchy galena and chalcopyrite (Figure 3). This style of mineralization is known to be associated with gold at the DBL project.
Click Image To View Full Size
Figure 3 HML24-001 from 45m quarts vein hosted chalcopyrite mineralization with pyrite disseminated through the wall rock
The Company has rushed gold analysis for the first 4 holes .
"We are thrilled with the initial visual indicators from our latest drilling program. All seven holes have encountered highly promising mineralization, some of the best we've observed on the property to date. This program specifically targets a historical gold ore shoot, and the discovery of visible gold in this area strongly suggests that we are in the right zone.
We eagerly anticipate sharing further updates with the market, including assay results, geological interpretations, and our fall exploration plan for Zone 3.
Additionally, we look forward to providing an update on our Ontario Project Portfolio in the near future," Commented Peter Schloo, President, CEO, and Director of Heritage.
Zone 3 Prospect Summary
The visible gold lies along a fracture surface in a 15cm wide quartz vein. Intense pyrite mineralization occurs in the quartz vein and adjacent to the vein in the enclosing mafic metavolcanic rock. Galena and possible molybdenite are associated with the pyrite and visible gold (Figure 2).
Hole HML24-001 was designed test high grade gold results reported in drill hole number 4 from a November 1936 drill program as reported in assessment report 52J04SE0015 (see table inset on the map on page 101 therein).
The 2024 drill program was undertaken between 5-August and 11-August 2024. Seven holes were completed at Zone 3 for a total of 1009 meters (Table 1). The program was designed to test multiple high-grade Au intercepts drilled in 1936-7 and to test the results of a Spatiotemporal Geochemical Hydrocarbons (SGH) in soil survey completed in June 2024.
The Zone 3 Prospect is located at the contact between the Lake of the Bays Batholith and mafic metavolcanics. Zone 3 is characterized by a corridor of subvertical Au-bearing quartz veins up to 3 meters wide exposed discontinuously for at least 300 meters at the surface and that runs roughly parallel to the contact with the batholith. Drill hole HML24-002 (completed August 7, 2024) shows that quartz veins with associated sulfide mineralization continue for several tens of meters into the granitic rocks of the batholith from the contact with the mafic metavolcanics. This is consistent with SGH gold anomalies that lie over parts of the batholithic rocks near the contact and directly over this hole.
|
Figure 1: Plan map with SGH Soil Gold Anomaly and Ontario Geology overlays showing the Heritage Mining Ltd 2024 Drill program as executed. Visible gold was found in hole HML24-001 at 35.1m depth. |
Table 1: 2024 drillhole design details Zone 3 |
|
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, Contact Bay and Scattergood projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . The 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) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Zone 3 Successful SGH Soil Survey
(TheNewswire)
| |||||||||
| | | | ||||||
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - July 25, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that the Zone 3 Spatiotemporal Geochemical Hydrocarbon survey "SGH Soils" report has been received and are very encouraging. The Company also has updated the drill program to focus on Zone 3 with historical confirmation drilling and SGH soil target testing.
Highlights:
The Zone 3 SGH analysis suggest stronger gold anomalies when compared to the SGH orientation survey at Alcona (Figure 1,2,3,4)
Drill program updated to focus on Zone 3 historical and SGH Anomalies (Figure 4)
Zone 10 SGH results pending
"The Zone 3 results from the SGH survey are very encouraging in relation to Alcona and therefore support evaluating SGH anomalies with diamond drilling at Zone 3. Drilling to commence in short order. Drill pads and waterline trail have been completed. We look forward to updating the market on further developments of our program in the very near future." Commented Peter Schloo, President CEO and Director of Heritage.
Click Image To View Full Size
Figure 1 – Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Click Image To View Full Size
Figure 2 - Zone 3 (Left) and Alona (Right) SGH Gold Pathfinder Class Map.
Figure 3: HML – DBL - Zone 3 - SGH "Gold" Pathfinder Class Map
Mineralization exists at these locations as a vertical projection beneath these anomalies (Yellow outline).
Figure 4 - HML-DBL-Zone3 SGH "Gold" Pathfinder Class Map with Planned Drill Holes
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, Contact Bay and Scattergood projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . The 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) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Reports Successful SGH Orientation Survey
(TheNewswire)
| |||||||||
| | | | ||||||
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC TheNewswire - July 17, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that the Company has received a report entitled Orientation Survey for Spatiotemporal Geochemical Hydrocarbon Interpretation (" SGH "). The results of the report show a very positive correlation to existing gold mineralization on the property ( Alcona Area). Based on these positive results the Company will proceed in using SGH surveys to identify new targets as well as focus in on existing permitted drill target areas.
The Company is also pleased to announce SGH soil results are pending from Zone 3 and Zone 10.
Highlights:
The overall precision of the SGH analysis for the samples at the Alcona Area Soil Survey was excellent. Mineralization exists at these locations as a vertical projection beneath these anomalies (Figure 3).
The SGH confidence rating for the Alcona survey assigned to the anomalies averages 5.0 on a scale of 6.0. The rating for the Alcona Orientation Survey results indicates that there is a high probability that gold mineralization is present, thereby supporting a property wide survey.
Predicted Gold Mineralization (Figure 3) complemented by Halo anomaly illustrating possible presence of Redox Zone (Figure 4) an environment associated with gold mineralization.
Zone 3 SGH Soils results are expected within the next week (Figure 5).
"The results from the SGH survey are very encouraging. We have already incorporated the SGH sampling into our current program with results pending from Zone 3 (Figure 5) (results expected within the next week) and Zone 10 with additional priority target areas to follow. We believe this will be a key exploration tool to advance target areas to drill ready status while remaining efficient in capital deployment.
Furthermore, as mineralization in the area holds similar characteristics, we will also be incorporating this process into our non-core projects, Contact Bay and Scattergood.
We look forward to updating the market on further developments of our program in the very near future." Commented Peter Schloo, President CEO and Director of Heritage.
SGH – Overview
Location of SGH orientation program at the Alcona Area (Figure 1) with focused area of confirmed mineralization at the Alcona Area (Figure 2)
Click Image To View Full Size
Figure 1 – Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Click Image To View Full Size
Figure 2 Alcona Area orientation grid soil sampling 2024
Map Legend (Figure 3 & 4)
The SGH Class maps are the plot of the sums of the particular hydrocarbon class in parts-per-trillion concentration. The dark blue areas of these maps represent very low or non-detect values or areas where no samples were taken. For plotting purposes the values at the Reporting Limit are plotted as one-half of this filtering, or one-half of 1.0 ppt. The hotter (Red to Purple) colours represent higher concentrations of the sum of the hydrocarbon class with the highest values being purple in colour. The lowest concentrations that may be at 0.5 ppt, are shown in blue.
Click Image To View Full Size
Figure 1: Heritage Mining – ALCONA SGH "GOLD" PATHFINDER CLASS MAP
Mineralization exists at these locations as a vertical projection beneath these anomalies (Yellow outline).
Click Image To View Full Size
Figure 2: Heritage Mining – Alcona SGH "REDOX" PATHFINDER CLASS MAP
Alcona
The Alcona Area had 88 samples collected on a square grid with sample spacing of approximately 25m. These samples were received by Actlabs and were sorted. After drying and subsequent sieving, the samples were analyzed in the Organics Laboratory. Samples were extracted and analyzed by Gas Chromatography coupled with Mass Spectrometry (GC/MS). The data was processed and initial mapping completed. After review and interpretation, a second set of SGH Class maps was developed. The background SGH information, site interpretation and final maps were then entered into the SGH Interpretation Report. The overall precision of the SGH analysis for the samples at the Alcona Area Soil Survey was excellent as demonstrated by 6 samples taken from this survey which were used for laboratory replicate analysis and were randomized within the analytical run list. The average Coefficient of Variation (%CV) of the replicate results for the samples in this survey was 9.1% which represents an excellent level of analytical performance especially at such low parts-per-trillion concentrations.
Zone 3 SGH Program
Click Image To View Full Size
Figure 5 – Zone 3 - SGH Locations – Pending
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, Contact Bay and Scattergood projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . The 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) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Announces Fully Subscribed Non Brokered Private Placement Totaling $750,000
(TheNewswire)
| |||||||||
| | | | ||||||
VANCOUVER, BC TheNewswire - June 1 8 2024 Heritage Mining Ltd. (CSE: HML ) ( FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that its $750,000 non-brokered private placement previously announced on June 12, 2024 (the " Offering ") is now fully subscribed. Peter Schloo, President, CEO and Director of Heritage, has subscribed for 2,430,000 Units (as defined below) at an aggregate purchase price of C$121,500.
News Provided by TheNewsWire via QuoteMedia
Heritage Mining Announces up to $750,000 Non-Brokered Private Placement with lead orders over C$500,000
(TheNewswire)
| |||||||||
| | | | ||||||
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
News Provided by TheNewsWire via QuoteMedia
SNX Returns 1,880g/t Silver, 31.2g/t Gold and 4.94% Copper at New High-Grade Silver, Gold, Copper and Antimony Prospects
Highlights
- In conjunction with ongoing work at its nearby Blackhawk Project, Nevada USA, SNX stakes two additional areas prospective for high-grade silver-gold-copper-antimony (see figure 1).
- Initial sampling returns 1,880g/t Ag from a quartz stockwork zone at Crystal Peak and 31.2g/t Au from G Mine area associated with copper up to 4.94% (see figure 2).
- Outcropping quartz stockwork zone at Crystal Peak returned high-grade silver results of 1,880 g/t Ag, 752g/t Ag, 485g/t Ag, 427g/t Ag, 142g/t Ag & 141g/t Ag within a 60m x 30m densely quartz veined (stockwork) area (see figure 3).
- Elevated copper and antimony at Crystal Peak stockwork, up to 0.64% Cu and 0.38% Sb.
- No drilling or modern exploration at either Crystal Peak or G Mine; last recorded activity in early 1980s.
- SNX has completed a soil sampling program covering extensions to the Crystal Peak and G Mine areas, with assays due in early October 2024.
- Building on existing reconnaissance mapping and sampling, SNX will aim to deliver drill targets for the 2025 field season.
SNX Executive Chairman Peter Moore said: “These new prospects near the Blackhawk Project in Nevada, have returned exciting high-grade results from the initial mapping and sampling work. Results demonstrate potential for high-grade silver, gold, copper and antimony mineralisation with results up to 1,880g/t silver with associated copper and antimony at Crystal Peak and up to 31.2g/t gold at G Mine. We are excited to be the first explorer to implement modern exploration techniques across this ground, and we are planning additional exploration to follow up these initial results. Preparations for the upcoming RC drilling program at the Endowment high-grade silver mine located 10kms east of Crystal Peak continue with drilling expected to commence in early October”.
At Crystal Peak, SNX identified a high-grade silver-copper-antimony quartz stockwork zone outcropping over an area of 60m x 30m. The stockwork zone forms a prominent ridge with outbound dispersed quartz float zones suggesting potential for extensions to currently mapped zone.
SNX’s initial mapping and sampling at Crystal Peak returned peak silver assays of up to 1,880g/t Ag, 752g/t Ag, 485g/t Ag and 427g/t Ag, all with strong copper and antimony association.
Figure 1: Plan view of newly staked Crystal Peak and G Mine prospects located 10km west of SNX’s large- scale Blackhawk Porphyry and Epithermal Projects.
Figure 2: Plan view of the newly staked Crystal Peak and G Mine showing structure, alteration and main prospect areas and G Mine rock chips locations.
Crystal Peak
The Crystal Peak stockwork zone is hosted within a coarse-grained quartz monzonite which in turn forms part of a larger composite intrusion complex ranging in composition of granodiorite to quartz monzonite. Locally, minor diorite intrusions are observed although account for only a small portion of the composite intrusion.
Alteration about the stockwork zone and along through-going structures is characterised as proximal quartz- sericite-pyrite within a larger argillic alteration halo (see figure 2). Typically, the quartz stockwork is made up of continuous to semi-continuous linear veins up to 10cm wide at various attitudes to each other (see photo 1). While there are some prominent low angle veins many of the veins are sub-vertical, suggesting good potential at depth. Within the stockwork, vein density ranges from 3 veins per meter up to 15 veins per meter where veins account for up to 85% of the rock by volume. Within the larger stockwork area some consistently more sheeted quartz vein zones are observed.
Click here for the full ASX Release
This article includes content from Sierra Nevada Gold, 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.
Geophysical Survey Completed as Exploration Advances at Siberian Tiger
- UAV magnetic survey completed at Leinster South over prospective stratigraphy along the eastern limb of the Lawlers Anticline.
- Detailed geophysical data to assist with drill targeting at the untested Siberian Tiger gold prospect.
- New rock chip gold results extend the surface footprint and strike potential of Siberian Tiger. Further mapping and geochemical sampling continue to identify new drill targets.
- Additional 177 rockchip samples from new prospect areas submitted for gold analysis with results expected in 3-4 weeks.
- Heritage negotiations and drilling approvals progressing.
A high-resolution UAV (drone) magnetic survey has been completed over the majority of Leinster South tenement E36/1068, which includes the Siberian Tiger gold prospect. Recent rock chip sampling at Siberian Tiger identified high grade gold in quartz veining (see ASX announcement 5 August 2024). The detailed magnetic data and imagery (shown in Figure 1) is assisting the Company with geological and structural interpretation leading up to the maiden campaign of RC drilling at Leinster South. These features are now being investigated and field checked by Metal Hawk geologists. Detailed UAV photogrammetry and LIDAR data were also collected to assist in outlining new areas for exploration.
The Siberian Tiger gold discovery is located along the eastern limb of the Lawlers Anticline and only 15km from the Lawlers mining centre (Figure 1). Past production from the Agnew - Lawlers deposits is > 5 million oz @ 5gt Au1.
Figure 1. Leinster South airborne magnetics
Metal Hawk’s Managing Director Will Belbin commented: “The level of detail shown from the geophysical drone survey is excellent. The data clearly maps out the prospective southeastern trending stratigraphy along strike from Siberian Tiger and also highlights a number of key structural features. It is great to see additional high-grade gold rock chip samples in new areas and we will continue to develop more prospects with effective boots-on- ground exploration.”
Following the initial high-grade rock chip results from Siberian Tiger, the second field campaign of mapping and geochemical sampling was carried out in August 2024. Assay results from this second round of rock chip sampling show a number of new gold anomalies at untested locations along the belt, along strike to the southeast from Siberian Tiger (“Tiger Tail”) and also on the other (southwestern) side of the prominent southeast trending mafic and ultramafic belt (“Tiger Stripes”; see Figure 2). There is a subtle magnetic association with the Siberian Tiger as it is currently mapped, suggesting the presence of some pyrrhotite or magnetite below the depth of weathering. Only rarely have sulphides been observed at surface due to surface oxidation. The assay data are also firming the pathfinder elements, with bismuth, tungsten, copper and zinc aligning well with gold-bearing quartz veins in the area.
Click here for the full ASX Release
This article includes content from Metal Hawk 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.
Zodiac Gold
Investor Insight
A large, underexplored land package with potential for district-scale gold deposit makes Zodiac Gold a compelling opportunity amid a positive macroeconomic backdrop for the precious metal sector.
Overview
Zodiac Gold (TSX.V:ZAU) is a gold exploration company focused on its West African flagship Todi project situated in Liberia — an underexplored, politically stable, mining-friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 sq km land package. The project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts.
Liberia – Stable, Growing and Mining-focused
Liberia is considered a favorable jurisdiction for metals and mining for several reasons: 1) the government has shown a long commitment to developing the mining sector (the mining code is based on Australian legislation), 2) the country has a well-defined regulatory framework (minimal 3 percent royalty rate and a 25 percent basic rate of tax on earnings), and 3) transparent permitting process.
As Africa’s oldest republic, Liberia has had a politically stable democracy since 2003 after signing the Accra Peace Agreement. Additionally, the country has had four successful democratic elections since 2005.
The country is well-endowed with mineral resources that largely remain underexplored. The West African craton hosts numerous world-class deposits with a gold endowment of over 450 Moz. The craton is largely underexplored (~90 percent) with most recent exploration having occurred in the previous 30 years.
Just this year, US iron ore conglomerate High Power Exploration (HPX), founded by mining billionaire Robert Friedland, announced plans to develop the Liberty Corridor – a brand-new multi-user infrastructure corridor connecting Guinea and Liberia.
The Liberty Corridor would comprise a brand-new, world-class rail system connecting the Nimba district of Guinea to a new Liberian deep-water port. The Liberty Corridor is expected to be a leading African example of multi-user, independently operated, and open-access infrastructure that will support the economic opening of the West African region to world markets.
These newly announced Liberian initiatives, coupled with a US-dollar-denominated economy, a majority English speaking population and heavy US presence, makes Liberia a top-tier investment jurisdiction in Africa.
Company Highlights
- Zodiac Gold is a West African gold exploration company developing a district-scale gold discovery in the Republic of Liberia. The company’s land package totals over 2,300 sq km.
- Zodiac Gold has identified five exploration targets that would form the basis for satellite pits that would support a hub-and-spoke mining strategy.
- Proven gold at surface with five drill-ready targets that are open along strike and depth provide strong upside to organic growth from grassroots exploration.
- Discovery-driven management team led by CEO David Kol and director of exploration Tom Dowrick who have over 25 years of combined in-country experience. Management and insiders also own over one quarter of the company.
The Todi Project
Zodiac Gold’s 2,316 sq km, 100 percent owned land package in Liberia includes its flagship Todi property (418 sq km) and other license areas (1,898 sq km) overlying prospective geology and structures known to host gold mineralization. The land package is also strategically located 20 km southeast of Avesoro’s New Liberty Gold Mine (1.8 Moz resource) that produced 360 koz of gold in 2023.
The Todi property has five drill-ready targets:
Arthington
The target boasts more than 4 km of soil anomalies with the discovery of a mineralized gold trend along 1.5 km of strike. Highlight intercepts include 9.6 meters at 7.5 g/t gold and 10.6 meters at 6.6 g/t gold. The company recently completed 3,700 meters or trenching and 3,500 meters of drilling at the property and the Phase 2 drill program defined the strike and depth extents of the target.
Alasala
Target highlights include: 1) a 2.4 km long x 250 meter wide soil anomaly with artisanal workings, 2) rock chip samples up to 107 g/t gold, and 3) drilling intercepts with grades above 6 g/t over just under 20 meters.
Benben
Target highlights include: 1) a 4.5 km long soil anomaly with artisanal workings, and 2) rock chip samples up to 255 g/t gold.
Youth Camp
Target highlights include: 1) a 4 km long soil anomaly with artisanal workings and 2) best historical trenching results of 1 g/t gold over 30 meters.
Alasala South
Characterized by a 1 km long soil anomaly with artisanal workings
Zodiac Gold is developing these five exploration targets that would form the basis for satellite pits that support a hub-and-spoke strategy with material feeding a centralized facility that would process ore.
Management Team
David Kol – Director, President and Chief Executive Officer
David Kol is a highly experienced international business and startup executive with over 20 years of experience in finance, marketing, business development, M&A and executive management, primarily in the resource sector, media/entertainment, real estate and technology industries. Prior to Zodiac, Kol held senior management roles in Gem Rocks Mining Resources, Global Media Group Holdings, The Players Network and Interactive Enterprises, where he worked on projects for Sony, Wink Communications, Netcom, US West (now Qwest Communications), BskyB and JskyB. He currently serves on the board of directors of BluEarth Carbon Development and Global Wholesome Network 501. Kol attended the University of California, Davis, where he studied managerial economics, and has an A.A. (criminal justice) from Diablo Valley College.
Tom Dowrick – Director of Exploration
Tom Dowrick is a seasoned chartered geologist with 17 years of experience in the mining and exploration industry. Since 2011, he has been a driving force at ACA Howe International, where he serves as managing director. In this role, he manages a range of geological and mining consultancy projects around the globe, including serving as a consultant on Zodiac Gold’s Todi project in the Republic of Liberia, West Africa. Dowrick has substantial experience in West Africa, having completed field and desk-based reviews of the exploration activities of both public and private companies in Liberia, Mali, Guinea, Mauritania, Sierra Leone, South Sudan and Mozambique, in addition to projects in Argentina, Brazil, Costa Rica, Ecuador, Kazakhstan and Australia.
Peter Granata – Chief Financial Officer
Peter Granata has more than 18 years of experience in finance and operations management within global organizations. He is a dynamic, results-oriented professional with executive positions in TSXV companies and, prior to these, served as an audit manager for PricewaterhouseCoopers. Granata has prepared financial statements, MD&A, news releases, mine permitting applications and project cash flows. With PricewaterhouseCoopers, he performed audits for Canadian IFRS, US GAAP reconciliations, special purpose financial statements and has executed group reporting under Canadian GAAP. His experience includes CFO for TSXV entities, capital raising, international corporate structures, client engagement, C-suite and directors’ engagement, M&A, financing, investor relations, related party transactions, and finance transformation. Granata has a B. Bus and is a chartered accountant.
Sherry Siu – Corporate Secretary
Sherry Siu has over 30 years of experience working as a paralegal for a boutique law firm in Vancouver, specializing in securities, commercial and corporate matters, and has been corporate secretary of various junior resource companies since 2011. She has worked on a variety of securities-related and corporate transactions, including M&A, spinouts and business combinations, reorganizations, and going-public filings. Siu is a paralegal certified with the BC Paralegal Association.
Douglas Cater – Director
Doug Cater is a professional geologist who has worked extensively across Canada and internationally for more than 35 years, with a particular focus on the Abitibi gold belt located in northeastern Ontario. He has held positions with both senior and intermediate gold producers, including Barrick Gold, Placer Dome and Kinross Gold. His African exploration experience was obtained while serving as an exploration consultant for Barrick Gold in Tanzania, where he was responsible for the project management of an exploration diamond drill program in the Lake Victoria greenstone belt. His most recent executive position was as vice-president, exploration (Canada) with Kirkland Lake Gold. Cater is also a director of Sierra Metals, Mayfair Gold, Exploits Discovery and Gowest Gold. He is a graduate of the ICD-Rotman Directors Education Program.
Renaud Adams – Advisor
Renaud Adams has over 30 years of global mining experience in senior executive positions and operations. Currently, Adams serves as the president and chief executive officer of IAMGOLD (NYSE:IAG) (TSE:IMG), a mid-tier Canadian gold company with a US$1.4 billion market cap. From 2018 to 2022, he served as the president and chief executive officer of New Gold, where he led the strategic repositioning of the company and turnaround of its operations. Prior to New Gold. Adams served as the president and chief executive officer of Richmont Mines from 2014 until the company was sold to Alamos Gold in November 2017. During his time at Richmont Mines, the primary mine of the company experienced a two-fold increase in production, the mineral reserves were multiplied by more than three, and the costs were reduced significantly, leading to the Island Gold Mine in Ontario becoming one of the most cost-efficient underground mines in the Americas. From 2011 to 2014, Adams served as chief operating officer at Primero Mining Corporation, and prior to that he served as general manager of IAMGOLD’s Rosebel mine in Suriname before being appointed senior vice-president, Americas Operations. Adams holds a Bachelor of Engineering degree in mining and mineral processing from Laval University in Quebec, Canada.
Michael Demeter – Advisor
Michael Demeter is a highly experienced executive with a track record spanning over 30 years in financial services, including the past 22 years in capital markets, advising both companies and buy-side investors as well as raising growth capital for a wide range of companies. Michael has worked with boutique investment dealers, Canadian banks, and global investment banks, providing him with diverse exposure to companies of all sizes. Michael is a Partner with Fort Capital, one of Canada’s leading independent investment banking advisory firms. Mr. Demeter is the former Managing Director and Head of Institutional Sales at Haywood Securities and has held senior management roles at Macquarie Group, Dundee Securities, Royal Bank of Canada, and Scotiabank. Mr. Demeter earned a BA (Economics) from Huron College at the University of Western Ontario, and an MBA from the Rotman School of Management at the University of Toronto. His work in financial services has led him to attain his Chartered Financial Analyst (CFA) designation, Chartered Market Technician (CMT) designation, Chartered Alternative Investment Analyst (CAIA) designation, and Certified Financial Planner (CFP) designation. He is a member of the Rotman Dean’s Global Advisory Board (GAB), and the Loan Review Committee for Rise Asset Management, a charity dedicated to helping people with mental health and addiction challenges achieve financial independence through self-employment or small business ownership.
Ryan Hanley – Advisor
Ryan Hanley is currently the CEO of Springburn Capital, a private investment and consulting company. Before founding Springburn, he was the director and mining analyst at Laurentian Bank Securities in Toronto, where he worked from March 2017 to May 2024. Before joining LBS, Hanley was an equity research analyst specializing in mining and mining services at Research Capital from 2012 to 2017. His career at Research Capital also included roles as a mining research associate from 2009 to 2012, and an investment banking analyst in 2008.
Hanley has been ranked as a top analyst by Bloomberg, Thomson Reuters and Refinitiv, including as the third-ranked "Top Stock Picker (All Sectors)" in Canada in the 2017 Thomson Reuters Analyst Awards. He holds a BA from McMaster University in Hamilton, Ontario.
Heritage Mining Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects