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

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

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

Ā 

VANCOUVER, BC TheNewswire - June 3, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or theĀ " 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.

Ā 

Ā  Highlights: Ā 

Ā 
  1. Ā 

    Ā  1) Ā  Scattergood Project: Ā 

    Ā 
  2. Ā 
  • Ā 

    Ā  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) Ā 

    Ā 
  • Ā 
  • Ā 

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

    Ā 
  • Ā 
  • Ā 

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

    Ā 
  • Ā 
  • Ā 

    Excellent Access by paved highway and logging roads

    Ā 
  • Ā 
  1. Ā 

    Ā  2) Ā  Planned 2024 Scattergood Exploration Program: Ā 

    Ā 
  2. Ā 
  • Ā 
    • Ā 

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

      Ā 
    • Ā 
  • Ā 

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

Ā 

Ā  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. Ā 

Ā 

Ā  The Scattergood project has further solidified our position within Northwestern Ontario, Canada totaling Ā  over 27,000 Ha Ā  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. Ā 

Ā 

Ā  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. Ā  Commented Peter Schloo, President, CEO and Director of Heritage. Ā 

Ā 

Ā Ā Ā Ā 
Click Image To View Full Size
Ā 

Ā 

Ā  Figure 1 – Heritage Project Portfolio in Northwestern Ontario, Canada Ā 

Ā 

Ā Ā Ā Ā 
Click Image To View Full Size
Ā 

Ā 

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

Ā 

Ā  Scattergood Project Ā 

Ā 

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.

Ā 

Ā  Asset Purchase Agreements Summary – Scattergood Project Ā 

Ā 

Ā  Shear Gold Asset Purchase Agreement Ā 

Ā 

Ā  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. Ā 

Ā 

Ā  PTX Metals Asset Purchase Agreement Ā 

Ā 

Ā  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. Ā 

Ā 

Ā  Planned 2024 Scattergood Exploration Program Ā 

Ā 

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.

Ā 

Ā  Corporate Update Ā 

Ā 

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.

Ā 

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.

Ā 

Ā  Qualified Person Ā 

Ā 

Ā  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 ProjectsĀ and has reviewed the scientific and technical information in this news release, approving the disclosure herein. Ā 

Ā 

Ā  ABOUT Ā  HERITAGE Ā  MINING Ā  LTD. Ā 

Ā 

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. Ā 

Ā 

For further information, please contact: Ā 

Ā 

Ā  Heritage Ā  Mining Ā  Ltd. Ā 

Ā 

Peter Schloo, CPA, CA, CFA

Ā 

President, CEO and Director

Ā 

Phone: (905) 505-0918

Ā 

Email: Ā  peter@heritagemining.ca Ā Ā 

Ā 

Ā  FORWARD-LOOKING Ā  STATEMENTS Ā 

Ā 

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.

Ā 

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. Ā 

Ā 

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.

Ā 

Copyright (c) 2024 TheNewswire - All rights reserved.

Ā 

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

District-Scale Opportunities with Historically Promising Assets

Heritage Mining Provides Corporate Update

Heritage Mining Provides Corporate Update

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

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

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second Hole at Zone 3 Extension

Heritage Intersects ~46 Metre Quartz-Sulfide Vein in second Hole at Zone 3 Extension

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

Ā  Widest Vein Ever Intersected at Drayton-BlackĀ Lake Ā 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Announces Closing of Strategic Investment

Heritage Mining Announces Closing of Strategic Investment

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

Ā 

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Announces Encouraging Gold Results from New Millennium Drill Program and provides Exploration Update and Strategic Investment

Heritage Mining Announces Encouraging Gold Results from New Millennium Drill Program and provides Exploration Update and Strategic Investment

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

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

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Heritage Mining Ltd. Announces Closing of the Second and Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units

Heritage Mining Ltd. Announces Closing of the Second and Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā 
Ā Ā Heritage Mining Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

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

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

Ā 

About Vertex Minerals Limited: Ā 

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Ā 

Ā 

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Juggernaut Closes $1,100,000 from Institutions and Accredited Investors

Juggernaut Closes $1,100,000 from Institutions and Accredited Investors

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā Ā Ā 
Ā Ā Juggernaut Exploration Ltd.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

Vancouver, British Columbia July 8, 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its June 4, June 12, and June 16, 2025, news releases, the Company is pleased to announce that it has closed its private placement financing (the "Financing") for aggregate gross proceeds of $1,100,000.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Noble Reports on Canada Nickel's Continued Exploration Success at MacDiarmid, Provides Exploration Update

Noble Reports on Canada Nickel's Continued Exploration Success at MacDiarmid, Provides Exploration Update

Ā 

(TheNewswire)

Ā 
Ā Ā Ā Ā Ā Ā Ā 
Ā Ā Noble Mineral Exploration Inc.Ā 
Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 
Ā 

Ā  Highlights Ā 

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

Ɨ