Heritage Mining Consolidates ~6,397Ha Project contiguous and along strike with Dynasty Gold's Thunder Cloud Pelham Deposit and provides Corporate Update

Heritage Mining Consolidates ~6,397Ha Project contiguous and along strike with Dynasty Gold's Thunder Cloud Pelham Deposit and provides Corporate Update

(TheNewswire)

Heritage Mining Ltd.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC TheNewswire - June 3, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the consolidation of a new land position within the Western Wabigoon totaling ~6,397 Ha through two asset acquisition agreements with PTX Metals Inc. (CSE:PTX) ("PTX Metals") and Shear Gold Exploration Corp. ("Shear Gold"), forming the Scattergood project ("SG"). The Company is also pleased to announce exploration plans for the SG project as well as a corporate update.

Highlights:

  1. 1) Scattergood Project:

  • Highly prospective, significant land position along strike of Dynasty Gold's Thundercloud – Pelham Deposit totaling (260,000 oz Au NI 43-101 Resource) totaling ~ 6,397Ha (Figure 1, 2)

  • Numerous intrusives with mineralized contacts in mineralized volcanic host rock effected by complex structural features

  • Discovery potential for Au, Cu, Ni, Zn, PGE

  • Excellent Access by paved highway and logging roads

  1. 2) Planned 2024 Scattergood Exploration Program:

    • Compilation and digitization of historical work, 3D geological model, geophysical interpretation, structural interpretation, prospecting, soil sampling, drill targets, drilling

"We are excited to be apart of the rapidly growing Eagle-Wabigoon-Manitou-Stormy Lakes greenstone belt  with notable neighbour's such as Dynasty Gold, Dryden Gold and Kenorland Minerals. Our new shareholders by way of acquisition agreement (PTX Metals (CSE:PTX) and Shear Gold Exploration Corp.) chose Heritage Mining to lead the charge on their land packages based on our aggressive and systematic in field programs and experienced technical team.

Furthermore, the structure of the transaction is favorable to current market conditions as there is no minimum spend requirements, enabling Heritage to continue uninterrupted on current priority initiatives while solidifying a new position in a highly sought after area near our current project portfolio.

The Scattergood project has further solidified our position within Northwestern Ontario, Canada totaling over 27,000 Ha within one of the last under explored greenstone belts in Northwestern Ontario, Canada leading into what we believe to be one of the best precious and base metal markets in decades.

We look forward to advancing the project to drill ready status in a systematic manner and providing further updates on our exploration programs in the very near future. Commented Peter Schloo, President, CEO and Director of Heritage.


Click Image To View Full Size

Figure 1 – Heritage Project Portfolio in Northwestern Ontario, Canada


Click Image To View Full Size

Figure 2 – Heritage Mining, Scattergood Area Map, Ontario, Canada

Scattergood Project

The Scattergood Project straddles the lower segment of Wapageisi group volcanic rock and felsic intrusive bodies including the Taylor Lake Stock, Meggisi Pluton, and Scattergood Lake stock as well as numerous late stage minor intrusives. Structurally, the project is complex with the north-northeast trending Taylor Lake Fault and Trout River deformation zone running through parts of the property. There is evidence of hydrothermal fluids acting on volcanic rocks indicating an ideal environment for the formation of gold rich ore bodies. This combination of structural features and felsic intrusives within or nearby volcanic rocks are key features to many of the local gold occurrences.

Asset Purchase Agreements Summary – Scattergood Project

Shear Gold Asset Purchase Agreement

Pursuant to an asset purchase agreement with Shear Gold dated May 31, 2024, Heritage agreed to issue C$100,000 in common shares to Shear Gold over an 18 month period ($15,000 on signing, $35,000 in six months from signing and $50,000 in 18 months from signing) together with the grant of a 1.5% NSR (0.5% buyback for C$500,000) for 4,508.28 Ha.

PTX Metals Asset Purchase Agreement

Pursuant to an asset purchase agreement with a subsidiary of PTX Metals dated May 31, 2024, C$100,000 in common shares over an 18 month period ($15,000 on signing, $35,000 in six months from signing and $50,000 in 18 months from signing) together with the grant of a 1.0% NSR (0.5% buyback for C$500,000) for 1,888.72 Ha.

Planned 2024 Scattergood Exploration Program

The 2024 exploration program for this project will include: Compilation and digitization of historical work, 3D geological model, geophysical interpretation, structural interpretation, prospecting, soil sampling, drill targets, drilling.

Corporate Update

The Company has also agreed to issue an aggregate of 1,100,000 common shares, at a deemed price of $0.05 per common share, in full satisfaction of certain contractual obligations.

The Company also signed an agreement with VHLA Media, pursuant to which VHLA Media agreed to provide digital content, marketing, and media distribution services to the Company. Pursuant to the terms of the agreement, such marketing services are to be provided over a one month period, commencing on May 31, 2024, for a fee of $25,000.

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) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

HML:CC
Heritage Mining

Heritage Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Heritage Mining (CSE:HML)

Heritage Mining


Keep reading...Show less
Heritage Mining Announces Fully Subscribed Non Brokered Private Placement Totaling $750,000

Heritage Mining Announces Fully Subscribed Non Brokered Private Placement Totaling $750,000

(TheNewswire)

Heritage Mining Ltd.

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

Keep reading...Show less
Heritage Mining Announces up to $750,000 Non-Brokered Private Placement with lead orders over C$500,000

Heritage Mining Announces up to $750,000 Non-Brokered Private Placement with lead orders over C$500,000

(TheNewswire)

Heritage Mining Ltd.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Commences 2024 Exploration Season at Expanded Drayton-Black Lake

Heritage Mining Commences 2024 Exploration Season at Expanded Drayton-Black Lake

(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC, May 22, 2024 TheNewswire Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the commencement of the 2024 exploration program at its flagship property Drayton Black Lake (" DBL "). The Company believes the progress achieved to date represents important milestones for systematic exploration in one of the last underdeveloped greenstone belts in Northwestern Ontario.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Congratulates Neighbouring Treasury Metals Inc. on Combination Transaction with Frank Giustra Backed Deal

Heritage Mining Congratulates Neighbouring Treasury Metals Inc. on Combination Transaction with Frank Giustra Backed Deal

(TheNewswire)

Heritage Mining Ltd.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Announces Exploration Permit for Flagship Project Drayton Black Lake

Heritage Mining Announces Exploration Permit for Flagship Project Drayton Black Lake

(TheNewswire)

Heritage Mining Ltd.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
StrategX Announces Results of Annual General Meeting

StrategX Announces Results of Annual General Meeting

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") held the annual general meeting (the "AGM") of its shareholders on June 24th, 2024. All resolutions at the AGM were unanimously (100%) approved, including:

  • setting the number of directors at four,
  • re-appointing Darren Bahrey, Ryan McEachern, Paula Caldwell St-Onge and David Haig as directors of the Company; and
  • re-appointing Crowe MacKay LLP, Chartered Professional Accountants, as auditor of the Company.

21,634,317 shares, being approximately 57.55 percent of the issued and outstanding shares, were represented at the AGM.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canada Nickel Provides Corporate Update and Announces US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Provides Corporate Update and Announces US$15 Million Loan Facility with Auramet International, Inc.

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announces that the Company has arranged a US$15 million loan facility with Auramet, which is expected to close on or before July 9, 2024.

CNC Logo (CNW Group/Canada Nickel Company Inc.)

Mark Selby , CEO, said, "I am pleased that our long supportive financing partner, Auramet, has agreed to provide a US$15 million bridge facility, which will allow us to remain well-funded to continue to advance our permitting, engineering, and financing activities. Discussions with offtake and project partners for Crawford are ongoing and expected to be completed before year end as we continue to target a mid-year 2025 construction decision for Crawford upon receipt of permits."

Loan Facility

The loan will be due January 9, 2025 , will carry an interest rate of 1.00% per month, and be subject to a 2.5% arrangement fee. At closing, Auramet will also receive 750,000 1 year warrants with a strike price of $1.42 . The loan will be subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws. The proceeds will be used for working capital purposes. The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies. For more information on Auramet, please visit www.auramet.com .

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the carbon capture approach could allow production of Net Zero nickel and generation of an additional tonnes of CO2 credits per tonne of nickel produced after offsetting all emissions, the potential to turn nickel mine into a generator of carbon credits rather than generator of carbon emissions, the production of estimated average of 710,000 tonnes of carbon credits annually and 18 million total tonnes of CO2 of credits over expected life of mine at Crawford, the ability to monetize carbon credits, the ability to quantify carbon capture, emission estimates, the brucite content of the deposit, the scalability of the process, the metallurgical results, the timing and results of the feasibility study including the viability of the inclusion of the IPT Carbonation Process and related facilities as part of the project, the results of Crawford's PEA, including statements relating to net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs, timing for permitting and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and life of mine estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving production, 5 economic return estimates, the timing and amount of estimated future production and capital, operating and exploration expenditures and potential upside and alternatives. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-provides-corporate-update-and-announces-us15-million-loan-facility-with-auramet-international-inc-302179493.html

SOURCE Canada Nickel Company Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/24/c4855.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
VIDEO - Invest Yukon: Critical Mineral Development in The Yukon

VIDEO - Invest Yukon: Critical Mineral Development in The Yukon

Invest Yukon - Hon Ranj Pillai, Yukon's Premier highlights the key critical minerals conversation and the promising economic future for Yukon. Western Copper and Gold (TSX: WRN) (NYSE American: WRN) emphasizes that as the demand for critical minerals intensifies, they are well positioned to meet the needs of the territory, Canada and global demand, as a leading developer in Canada. With a robust focus on advancing major projects, the company is set to significantly contribute to the critical metals supply chain. Supported by favorable governmental policies and an experienced management team, Western Copper and Gold is poised to become a cornerstone in the mining sector, driving economic growth and sustainability. Stillwater Critical Minerals (TSXV: PGE) explores a new region that reveals critical mineral potential over a district-scale land package.

Invest Yukon
Yukon Mining Alliance
investyukon.ca

Founded in 2009, Yukon Mining Alliance ("YMA"), the globally recognized Invest Yukon brand - is a strategic industry alliance of Yukon's leading exploration, development, and mining companies, focused on creating innovative capital attraction initiatives to promote Yukon's competitive advantages as a top mineral investment jurisdiction, its member companies and their Yukon-based projects. YMA's initiatives include international investment focused conferences, events, and campaigns in the North American, European, and global financial markets.

About BTV - Business Television:
For over 25 years, BTV has been a capital markets focused TV production and Digital Marketing Agency. BTV helps companies increase their brand awareness to a national retail and institutional investor audience, combining unique content creation and major distribution services on top tier networks including Bloomberg, CNBC, FOX Business News and financial sites. The BTV suite of strategic products include: BTV- Business Television Show, CEO Clips™, TV Branding Ads, Digital, Lead Gen, Social and Direct Email Marketing Campaigns that reach investors where they research and live on-air and online.

Discover Investment Opportunities

www.b-tv.com/theagency

Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213962

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian Critical Minerals Receives Update on Drill Results from Thierry Copper Project

Canadian Critical Minerals Receives Update on Drill Results from Thierry Copper Project

Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") has received results from the remaining five drill holes at the Thierry Copper Project near Pickle Lake, Ontario that were drilled by CCMI in July 2023 as part of a 2,600 metre drill program. The Thierry Copper Project is 100% owned by Cuprum Corp. CCMI owns 23.2 million shares of Cuprum and is the second largest shareholder with approximately 30% of the issued shares of Cuprum. Orecap Invest Corp. is the largest shareholder owning 29.5 million shares of Cuprum.

A complete review of the drill results has been disclosed by Orecap Invest Corp. earlier this morning and is available on Sedar Plus in their press release dated June 20, 2024, or on their website at www.orecap.ca. Further to CCMI's disclosure of September 20, 2023, which is available on Sedar Plus, the results are as good or better than expected.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Aston Bay Holdings Closes Final Tranche of Non-brokered Private Placement for $4,130,460 Total Proceeds

Aston Bay Holdings Closes Final Tranche of Non-brokered Private Placement for $4,130,460 Total Proceeds

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Aston Bay Holdings Ltd. (TSX-V:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce that it has closed a final tranche of the Company's non-brokered private placement, previously announced on April 24, 2024 (the "Offering"). Pursuant to the final tranche of the Offering, the Company has issued 230,000 non-flow through units (each a "Unit") at a price of $0.12 per Unit (the "LIFE Offering") and 3,900,000 flow through shares (each an "FT Share") at a price of $0.15 per FT Share, for aggregate gross proceeds of $612,600. The closing is subject to final acceptance of the TSX Venture Exchange

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grid Battery Metals Completes Phase 2 of its 2024 Clayton Valley Project 2024 Exploration Plan

Grid Battery Metals Completes Phase 2 of its 2024 Clayton Valley Project 2024 Exploration Plan

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - June 20, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce the conclusion of a second phase of soil samples and the construction of a geologic model incorporating mapped geology, magnetotelluric (MT) geophysics, and soil geochemistry. Grid's exploration team has determined that a multilayered approach to drill targets would improve the chances of intercepting lithium bearing brines.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining

Heritage Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×