Gold project Drayton-Black-Lake in focus
Heritage Mining (WKN A3DTM6 / CSE HML) is advancing its high-grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and Contact Bay properties are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historical data, excellent site access and logistical support from the local community. And, CEO Peter Schloo’s company receives financial support from the Ontario Ministry of Mines for these activities.
Heritage announced today that it has received approval for the fourth tranche of a $200,000 grant under the Ontario Junior Exploration Program (OJEP).
This grant represents the maximum amount available under the OJEP for junior mining companies. It was awarded for exploration expenditures incurred by Heritage to advance the flagship Drayton-Black Lake project between April 2023 and February 2024. Heritage also notes that it has now received the third tranche of the OJEP grant in the amount of C$200,000, which was announced on December 29, 2023.
Ontario’s Minister of Mines, George Pirie, stated in the release that it is hoped that the support of exploration companies such as Heritage will help Ontario achieve a globally leading position in mineral exploration through the discovery of significant deposits.
Heritage recently released the final 2023 drill results from the Drayton Black Lake project, stating that it has demonstrated that the project has extensive structurally controlled systems where high-grade gold or gold-silver mineralization is encountered. In addition, the company adds, seven additional prospective target areas have been evaluated, six of which have already been advanced to drill-ready status for the 2024 exploration program. The new high-priority target areas all have similar characteristics to the known deposits, Heritage added. 2024 could therefore be very exciting for the company.
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