Heritage Mining Identifies Intrusion-Related Mineralization at Zone 3

(TheNewswire)

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

VANCOUVER, BC, September 2 0 2024 TheNewswire Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to provide an update of its 2024 drilling program at the Zone 3 prospect (Figures 1 and 2; Tables 1 and 2), at its flagship Drayton-Black Lake project (" DBL ").

Highlights:

Drilling at Zone 3 has identified intrusion-related gold mineralization; a new style of gold mineralization not historically recognized at Drayton-Black Lake Project (Figures 3 and 4).

Quartz – sulphide veins are associated with the gold mineralization at Zone 3, locally multi-meter wide veins cutting both the granitoid and metavolcanic rock types

Intrusion-related gold mineralization provides potential for large-tonnage, bulk mineable gold deposits at Drayton-Black Lake.

Brett Davis, advisor to Heritage, is undertaking an in-depth review of DBL exploration results since inception including in field.

"Diamond drill holes from the Zone 3 prospect have intersected a newly identified mineralisation style within the Drayton – Black Lake project. Historically, exploration has focused on the discovery of orogenic-style gold in the greenstone country-rocks surrounding extensive areas of granitoids. Zone 3 drilling has intersected mineralisation that is hosted dominantly in a granitoid and that has a multi-element geochemical signature, coeval intrusive sequences, and vein morphologies consistent with the intrusion-related gold model. This has been confirmed by Dr Gregg Morrison, an expert on intrusion-related mineral systems. The identification of intrusion-related gold opens additional significant discovery potential for HML in the Drayton – Black Lake project geological assemblages, which were not previously investigated for gold." Commented Brett Davis, Advisor to Heritage

Zone 3 Prospect Summary

Zone 3 is situated about the favorable contact zone between a granitic intrusion (Lake of the Bays Batholith) and mafic metavolcanic rocks of the Sioux Lookout Greenstone Belt. Gold mineralization occurs in both rock types but is predominantly hosted within granite (Figure 4). The granite is a quartz-feldspar-biotite body overprinted by well-developed tectonic foliation and is at least 30 km across in plan-view (Ontario Provincial geologic map).

Heritages' recent drill program tested only a 200m strike length of the contact zone. Drilling intersected K-feldspar pegmatitic dykes cutting predominantly through the granite but are also present, albeit less prevalently, in the mafic metavolcanic host rock adjacent to the batholith. These pegmatitic dykes form a sheeted array across the batholith contact with the mafic host-rocks and are somewhat similar in appearance to the granite.

Fracturing of rheologically favourable pegmatite dykes, including along pegmatite-dyke contacts, has localised deposition of quartz-dominated vein suites in the fracture-permeability network. These quartz veins are associated with the sulphide and gold mineralization at Zone 3 and are centimeter to multi-meter in scale (Figure 5). Figure 6 shows examples of overprinting relationships, the intrusive suites and mineralized quartz veins.

This recent round of drilling successfully confirmed intrusion-related style gold mineralization at the Company's Drayton-Black Lake project, an important new discovery. The Project area has potential for large-tonnage deposit through the discovery of this previously unrecognized style of gold mineralization and importantly confirms Heritages' exploration program and strategy are effectively executed. The Company proposes to undertake tight-spaced ground magnetic and IP surveys to define the favorable granitoid-metavolcanic contact and zones of disseminated sulphides in quartz veins. These data will be instrumental in the design and execution of further drill programs at DBL.

Click Image To View Full Size

Figure 1: Project Portfolio, Ontario, Canada

Click Image To View Full Size

Figure 2: Drayton Black Lake Project Map, Zone 3 Highlighted in Yellow.

Click Image To View Full Size

Figure 3: Zone 3, 2024 Drill Hole Location Map. Hole HML24-004 is featured in the next Figure.

Click Image To View Full Size

Figure 4: Cross-section through Zone 3 geology along HML24-004. High Au intercept featured in next Figure.

Click Image To View Full Size

Figure 5: Quartz-pyrite vein with albite-carbonate alteration halo associated with the mineralized vein suite, in granite.

Click Image To View Full Size

Figure 6: The above photo shows a good example of one of the mineralized zones comprising the intrusive suites and mineralized veins.

Table 1: 2024 drillhole design details Zone 3

Table 2: 2024 drillhole significant gold assays (≥0.10 g/t Au)

Qualified Person

Stephen Hughes P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake, 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.

News Provided by TheNewsWire via QuoteMedia

Heritage Mining HML:CC CSE:HML Base Metals Investing

HML:CC

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

Keep reading...Show less

Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

(TheNewswire)

Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Quetzal Copper Receives Drill Permit for Princeton Copper Project, British Columbia

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to provide an update that it received a permit that allows drilling to commence at the Company's Princeton Copper Project in British Columbia, Canada. The 11,500-hectare property sits between the Hudbay Minerals and Mitsubishi owned Copper Mountain Mine and the town of Princeton.

CEO Matt Badiali said, "Princeton is the project that originally convinced us to create Quetzal Copper. It checks all the boxes for a potential home run project: next to an operating mine, high-grades in historic samples, and drive-up/drive-home targets. Despite being next to a world-class mine, the key targets remain undrilled and present an exciting opportunity for Quetzal shareholders. Historically, the targets were spread over a series of mining claims, worked independently. We are thrilled to have all the claims united now and are moving rapidly to commence drilling a soon as we can."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Drilling Has Started at Prismo Metals' Palos Verdes Project

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that drilling at its Palos Verdes project in Mexico has started. Hole PV-24-34 of this collaborative drilling program with Vizsla Silver Corp's (TSXV:VZLA) ("Vizsla") was collared on Vizsla's property. The planned length of the first hole is 250 meters out of a total expected 1,250 meters in the first phase of the program now underway

Dr. Craig Gibson, Co-Founder and Chief Exploration Officer of the Company explained: "The goal of the first phase of drilling is designed to explore the vein system to the west of the fault below the zone of bonanza grade intercepts from the previous campaigns. We expect the first hole to cut both the Palos Verdes vein as well as the higher gold-silver vein about 50 meters downdip from the previous intersections. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023)."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointments of Nigel Fisher as Director, Environment and Jarett Lalonde as Director, Government & Public Affairs for the Company. Mr. Fisher will lead the advancement of environmental and regulatory programs for FPX projects, while Mr. Lalonde will lead the Company's public communications and government relations strategies.

"We are excited to grow our team with Nigel and Jarett," commented Tim Bekhuys , FPX's Senior Vice-President, Sustainability & External Relations. "Mr. Lalonde has a proven track record as a trusted government relations advisor to corporations, governments and nonprofits, and brings a wealth of knowledge and strategic insight to our team. Mr. Fisher has been instrumental in permitting and advancing many of British Columbia's largest mines, including most recently, the Blackwater and Eskay Creek mines, and will lead our Environmental Permitting and Assessment for the Baptiste Project."

Mr. Fisher brings 20 years' experience leading environmental assessments, permitting and management systems, developing and executing on regulatory strategy and advancing governance and funding agreements with Indigenous governments across British Columbia . Mr. Fisher has held progressively senior roles with New Gold, Teck Resources, Woodfibre LNG, and most recently, Skeena Resources as Director of Environment and Regulatory Affairs. In his prior roles, he successfully obtained multiple regulatory approvals for large-scale resource projects while maintaining compliance with existing and changing legislation.

Mr. Lalonde is a highly regarded public affairs leader with over 20 years' experience in the natural resources, technology, and regulated products sectors. In his most recent role as Global Head of Product Policy at Shopify, Mr. Lalonde was instrumental in crafting compelling public affairs narratives for the company's diverse product offerings and spearheading engagement with policy makers across North America and Europe. Before joining Shopify, he worked with Global Public Affairs, a leading government relations and strategic communications firm, where he performed advisory work for numerous companies advancing large-scale natural resource projects in British Columbia and across Canada. Mr Lalonde previously served as Chief of Staff to the Attorney General & Minister of Justice for the province of British Columbia , and as Policy Advisor to the Minister of Natural Resources Canada.

Stock Option Grant

FPX has granted 775,000 stock options to certain employees of the Company. The stock options are exercisable at a price of $0.35 per share for a five-year period commencing on September 23, 2024 .

Market Making Services

Further to its news release on August 1, 2024 , the Company has engaged the services of Insight Capital Partners Inc. (" Insight ") and its market making service provider, ICP Securities Inc. (" ICP ") (the " Engagements ") effective August 1, 2024 .

Pursuant to an agreement (the " Consulting Agreement ") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of twenty-four (24) months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on thirty (30) days notice.

In addition, pursuant to an agreement (the " Market Making Agreement ") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium ^TM , in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.

As previously disclosed, there are no performance factors contained in the Consulting Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight and ICP do not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, Insight, ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km ² , west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of nickel-iron mineralization. For more information, please view the Company's website at www.fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking ‎information" within the meaning of applicable Canadian securities laws. These statements address ‎future events and conditions and so involve inherent risks and uncertainties, as disclosed in the ‎Company's periodic filings with Canadian securities regulators. Actual results could differ materially ‎from those currently projected by management at the time of writing due to many factors the majority ‎of which are beyond the control of FPX and its management. In particular, this news release contains ‎forward-looking statements pertaining, directly or indirectly, to the following: the duration of the ‎Consulting Agreement and the Market Making Agreement, and the services provided thereunder. These statements speak only ‎as of the date of this release or as of the date specified in the documents accompanying this release, as ‎the case may be. The Company does not assumes the obligation to update any forward-looking ‎statement except as expressly required by applicable securities law.‎

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the ‎adequacy or accuracy of this release.‎

SOURCE FPX Nickel Corp.