(TheNewswire)
VANCOUVER, BC, February 27, 2025 TheNewswire – Heritage Mining Ltd. (CSE: HML FRA:Y66) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce it has completed its drill program at the New Millennium area targeting two mineralized vein systems in the immediate vicinity of the highest grade grab sample on the property (2,330 gt Au) within its flagship Drayton Black Lake (‘ DBL ‘) Property (Figure 3 and 4). The Company will proceed to the Zone 3 area, then to Rognan area on the Contact Bay Property as previously communicated in press releases dated December 19, 2024 and December 11, 2024 respectively.
New Millennium Target Highlights:
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Total 556m in nine holes completed vs planned 370m over seven holes. Additional meterage was driven from a favorable mineralization intersection. Core logging and processing is underway at the time of writing.
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Drill holes show multiple occurrences (up to 51.40m core length) ofavariably mineralized shear zones, in granitic/felsic intrusions, and massive to semi massive quartz veins (Figure 1 and 2) in seven of the nine holes drilled.
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The presence of chalcopyrite with pyrite in chlorite-carbonate alteration with patchy k-feldspar alteration in quartz veins and wall-rock is reminiscent of some of the best Au-bearing intercepts at the nearby Zone 3 Prospect that were drilled in 2024 (September 20, 2024, Press Release).
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Figure 1: HML025-006 Select photographs showing select variably mineralized shear zone material, local granitic/felsic intrusions and massive to semi massive quartz veins. |
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‘Heritage Mining is off to a great start in 2025. Our in-house drilling operations have begun to bear fruit. Our exploration team has successfully intersected favorable mineralized structures over core lengths up to ~51.40m targeting two mineralized vein systems in the immediate vicinity of the highest-grade grab sample on the property (2,330 g/t Au) at our flagship exploration DBL Property. Significant lengths of drill core are similar to our best Au-intercepts elsewhere on property, specifically Zone 3. These observations so close to the surface have exceeded our expectations.
We look forward to drilling Zone 3 (DBL Project) and Rognan Area (Contact Bay Project) prospects H1 2025.’ Commented Peter Schloo, President, CEO and Director of Heritage
We present in Figure 2 below a complete shear zone intercept in DDH HML025-006.
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Figure 2: Sequence of drill core box photos showing the entire shear zone structure in DDH HML025-006 (14.33m to 87.00m) |
Click Image To View Full Size
Figure 3: DBL Total Property Outline
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Figure 4: DBL Project: Reduced-to-Pole Magnetic Intensity over Bedrock Geology
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
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