Together with Dynasty Gold and Bryden Gold, Heritage Mining (TSX.V: HML, FSE: Y66, WKN: A3DTM6) operates the Scattergood Project in the Canadian province of Ontario. The partners have now reported a new gold discovery there. This puts Heritage Mining in the fortunate position of having attractive gold finds on all its Ontario projects, justifying further exploration of the properties.
The fact that a new gold discovery was also made at the Scattergood Project is not really surprising, as the project is located only 4.5 kilometers from Dynasty Gold’s Pelham Project. Dynasty Gold has already been able to delineate a resource of 182,000 ounces of gold with an average grade of 1.37 g/t there.
The new discovery had also been indicated by the geophysical analyses conducted by the partners. The IP and magnetic surveys, carried out on a 500 by 200 meter grid, showed a strong correlation with the anomalies discovered by Dynasty Gold at Pelham.
Heritage Mining Plans Aggressive Surface Exploration Program at Scattergood
Prompted by the new discoveries, Heritage Mining is currently planning a new surface exploration program. It will primarily involve geochemical analyses and contribute to gaining a better understanding of the geology of the Scattergood Project.
Peter Schloo, CEO of Heritage Mining, expressed great satisfaction with the initial exploration successes at Scattergood . He confirmed that Heritage Mining will now vigorously explore the geological potential of Scattergood . The proximity to the resource already proven at the Pelham Project, located just 4.5 kilometers away, and the striking parallels to the electromagnetic measurements conducted there, leave the company with almost no other choice.
The new discovery and the associated “compulsion” for further investigations are quite opportune for the company, as Heritage Mining is currently seeing increasing interest from investors. These investors have recognized that it is high time to engage with the company and its projects.
More and more Investors Turn Their Attention to Heritage Mining and Buy the Stock
Many of these new interested parties don’t just stop at engaging with the company; they are buying into Heritage Mining while prices are still relatively low. This led to a new record trading volume last week, with over ten million shares traded. 7.5 million shares alone changed hands after Heritage Mining reported on the newly discovered broad quartz vein structure at the Drayton-Black-Lake Gold Project.
The new all-time highs reached by the gold price in September also show investors that it is time not only to focus on gold and precious metals themselves but also to take a closer look at the shares of gold and silver producers as well as those of mine developers.
In this regard, Heritage Mining certainly has a lot to offer. Not many junior explorers can claim to not only possess a portfolio consisting of several interesting gold projects but also to have made significant gold discoveries on all their projects. Heritage Mining is one of these companies, and this is – in our opinion, completely justifiably – being noticed by more and more private and institutional investors.
