New Drilling on Contact Bay in Early January

Typically, many Canadian resource companies reduce their activities at the end of the year. Often, weather is the deciding factor, especially when the ground freezes, making further drilling impossible. However, for Heritage Mining (WKN A3DTM6 / CSE HML), December 2024 will be a month of high-intensity work to continue and expand on the successes of 2024.

For the remaining weeks of December and the beginning of the new year, the company expects several news items that could certainly pique the interest of the capital market. Currently, five to seven new announcements are anticipated over the next twelve weeks.

But it’s not just the news front that makes it advisable for investors not to lose sight of Heritage Mining despite Christmas and the year-end. From both a technical and stock market perspective, Heritage Mining has never been as well supported as it is currently in the company’s history.

New Drilling Set to Start in Early January

A drilling program encompassing about 1,000 meters is planned for early to mid-January 2025 on Contact Bay. Zone 3 will be examined. It represents an intrusion-bound gold target and is located in close proximity to the site of the soil sample with the highest gold content on the entire property. As the sample contained a breathtaking 2,330 g/t gold, it’s understandable why Heritage Mining is currently awaiting the start of this new drilling program with great anticipation.

The company is also eagerly awaiting the final report on the geophysical surveys conducted on Drayton Black Lake and Contact Bay. The work was carried out by an external service provider in close cooperation with Heritage Mining’s geologists.

This had the advantage that most anomalies could be immediately verified through ground checks. This means Heritage Mining has a head start in confirming the targets. The next steps now are the preparation of the final report and its comprehensive analysis. Should this turn out positive as expected, IP measurements or drilling would be the next logical steps.

Laboratory Results Are Awaited with Great Anticipation

There’s also eager anticipation for the results of the prospecting program. It had identified around 170 outcrops at crossings. The samples taken were prepared for forwarding to the evaluating laboratory and are being sent to them these days. Heritage Mining expects the results in about four to six weeks.

The approval of the applied geophysical work by the authorities is also expected. Here, 45 to 60 days are usually required for processing. As the applications were submitted some time ago, a positive decision is expected soon in this area as well.

January promises to be interesting twice with regard to the completed earn-in agreements, as the 51% earn-in milestone for the Drayton-Black Lake flagship project will be reached on January 25, 2025. Also in January is the date for the 100% acquisition of the Riives Claims.

There’s plenty of excitement ensured, and since the news, if positive, will hit a relatively low stock price, we believe there’s also potential for upside. Therefore, invested shareholders as well as interested investors should keep a watchful eye on Heritage Mining in the coming weeks, despite Christmas, New Year, and winter holidays.