No December slump: Heritage Mining expects to see a lot of news-flow soon

Typically, many Canadian resource companies scale back their activities at the end of the year. Often, the weather is the main reason for this and further drilling is not possible anymore. At Heritage Mining (WKN A3DTM6 / CSE HML), however, December 2024 will be a month of renewed effort to continue and expand on the successes of 2024.

For the remaining weeks of December and the beginning of the new year, the company therefore expects some more news that could well make the capital market sit up and take notice. Five to seven new pieces of news are currently expected in the next twelve weeks.

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

New drilling to start as early as the beginning of January

A drill program of approximately 1,000 meters of the fully funded 4,000 meter program is planned for Zone 3, New Millennium and Contact Bay for early to mid-January 2025. The aim is to investigate these areas. Zone 3 represents an intrusion-related gold target and is located in the immediate vicinity of the site where the soil sample with the highest gold content on the entire property was found. New Millennium drilling a intersection of veins in the immediate vicinity to the sample containing a staggering 2,330 g/t gold. Contact Bay is a past producer from 1916, it is understandable why Heritage Mining is currently eagerly awaiting the start of this new drilling program.

The company is also eagerly awaiting the final report on the geophysical surveys conducted at Drayton Black Lake and Contact Bay. The work was carried out by a third-party service provider in close cooperation with Heritage Mining geologists.

This had the advantage that most anomalies could be verified immediately by prospecting. This means that Heritage Mining has a head start in confirming the targets. The next steps are to prepare the final report and analyse it thoroughly. If the report is positive, as expected, IP surveying or drilling would be the next logical steps.

The results from the laboratory are eagerly awaited

The results of the prospecting program are also eagerly awaited. It had identified around 170 outcrops in the traverses. The samples taken have been prepared for submission to the evaluating laboratory and will be sent to it in the next few days. Heritage Mining expects the results in about four to six weeks.

The approval of the requested geophysical and drilling at the zone 3 extension work by the authorities is also expected. As a rule, 45 to 60 days are required to process this. Since the applications were submitted some time ago, a positive decision is also expected soon in this case.

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

This will keep things exciting, and since the news, if it is positive, will come at a time when the share price is quite low, there is also upside potential in our opinion. Investors who have invested in the company, but also interested investors, should therefore keep a close eye on Heritage Mining in the coming weeks, despite Christmas, the turn of the year and winter vacations.