Gold explorer Heritage Mining (WKN A3DTM6 / CSE HML) is currently focused on its most important project, the Drayton-Black Lake property (DBL). There, the company has identified three potential gold deposits near surface: Alcona Main, New Millennium and Moretti. Now the first 2023 drill results from Alcona arrived and they read very promising indeed!
Alcona extends over a strike length of 1 kilometer, according to Heritage, with gold mineralization identified over a width of 200 meters. The initial drill program included nine holes totaling 2,208 meters and the Company has now received results from the first six holes which provided important and encouraging insights and data.
Highest grade gold intercept ever drilled at DBL
Thus, Heritage reports significant gold and silver ore intercepts within broader zones of mineralization in all six holes. This was accompanied by confirmation of the Alcona strike length of approximately 1 kilometer and the presence of gold and silver mineralization to a vertical depth of about 145 metres. As if that were not enough, the highest-grade BDL mineralization intercept ever was reported, returning 19.45 g/t gold and 62.10 g/t silver over 1.05 metres from a depth of 177.90 meters. And this intercept was contained within a 15 metres thick anomalous zone – between 174 and 189 metres depth – with a weighted average grade of 1.48 g/t gold.
The anomalous gold zones encountered in all six holes vary in thickness from 8.15 to 15 meters and average grades from 0.59 to 1.48 g/t, but numerous other higher-grade mineralization intercepts were encountered in addition to the one already mentioned. Among others, Heritage drilled:
– 9.14 g/t gold and 30.63 silver over 1.00 meter including 15.2 g/t gold and 50.70 silver over 0.50 meter (23-002) – 5.75 g/t gold and 30.41 g/t silver over 1.35 meters from 70.30 meters including 9.75 g/t gold and 53.30 g/t silver over 0.75m.
First signs of a large-volume deposit
No wonder, then, that Heritage CEO Peter Schloo is extremely pleased with the initial results of the company’s first proprietary drill program at Alcona. As he points out, initial, potential indications of a low grade but large tonnage gold deposit are present. In addition, Schloo says, the Alcona area also has potential for high-grade deposits. Given the year-round access to the site and proximity to infrastructure, this makes Alcona an ideal candidate for a second phase of exploration in the winter, he stated.
As Mr. Schloo explained further, results for the last three holes of the current program (7, 8 and 17) are still pending. However, “We are very excited about holes 7 and 8 as they showed very promising mineralization, so we added a step-back hole from hole 7 (hole 17) to the drill program, which also encountered unexpected mineralization near surface and extended the corridor.”
Heritage has already initiated planning for the second phase of drilling at Alcona and will present the final results from Phase One as they become available.
Deepak Varshney, CEO of Usha Resources commented, “We are excited by the results at White Willow. We now have 10 primary targets on our 25+ km trend, including two strongly developed LCT pegmatite swarms on Bingo and Maple Leaf. There is still a lot of land between Bingo and Maple Leaf that can be explored further and subjected to follow-up surveys. The results to date reinforce our belief that Willow is a flagship project that will host Ontario’s next major lithium discovery.”
Conclusion: As Heritage CEO Schloo emphasizes, the drill results presented today represent a "fantastic" start to the company’s work on the DBL project. Should the last three drill holes of Phase One also produce similar results, this can only be emphasized. These results are due in the near future, according to Mr. Schloo, as are assay results from the New Millennium target area - where no drilling has been done in the past - and Moretti. Heritage is apparently really getting going, now that the the end of the year is getting closer!
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According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Heritage Mining Ltd. and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of Heritage Mining Ltd. at any time, which could influence the price of the shares. In addition, there is a consulting or other service contract between Artic Fox Lithium Corp. and GOLDINVEST Consulting GmbH, with which a further conflict of interest exists, since Heritage Mining Ltd. remunerates GOLDINVEST Consulting GmbH for reporting.