Duyuru • Mar 20
Headwater Gold Inc. announced that it has received CAD 5.00018 million in funding from Centerra Gold Inc. On March 19, 2026. Headwater Gold Inc. announces that it has closed the transaction. It has issued 9,914,150 common shares of the Company at an issue price of CAD 0.58 per Common Share to raise gross proceeds of CAD 5,750,207 including the full exercise of the agent's option. The Offering included participation from returning investor Centerra Gold Inc. Duyuru • Feb 27
Headwater Gold Inc. announced that it expects to receive CAD 5.00018 million in funding Headwater Gold Inc announced a private placement to issue 8,621,000 common shares at an issue price of CAD 0.58 for the proceeds of CAD 5,000,180 on February 27, 2026. In addition, the Company has granted the Agent an option, exercisable in whole or part, for a period up to and including the Closing Date to sell up to an additional 1,293,150 Common Shares at the Issue Price, for additional gross proceeds of up to approximately CAD 750,000. In consideration for the services rendered in connection with the Offering, the Company will pay to the Agent a cash fee equal to 6.0% of the gross proceeds of the Offering, pay to the Agent a corporate finance fee of CAD 75,000, CAD 37,500 of which will be paid in cash and CAD 37,500 of which will be paid in Common Shares. The Offering is expected to close on or about March 19, 2026 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. Directors and officers of the Company may acquire securities under the Offering. Duyuru • Oct 21
US Federal Government Selects Headwater Gold's Spring Peak Project for Fast-41 Permitting Track Headwater Gold Inc. announced that its exploration permit on the Spring Peak project, referred to as the Burnt Rock Plan of Operations and located in western Nevada, has been selected for the United States Federal Permitting Improvement Steering Council's FAST-41 program Transparency List. FAST-41 is a federal initiative designed to streamline approvals for vital infrastructure, ensuring that designated mining projects receive an efficient review and authorization process. Acceptance into the program makes permitting milestones transparent via the FAST-41 project dashboard. The currently contemplated exploration program is funded by Newmont Corporation ("Newmont") under Stage 2 of the Spring Peak earn-in agreement where Newmont may earn a 65% interest in the project by sole funding USD 40,000,000 over a 36-month period. Highlights: The selection of the Burnt Rock plan of Operations into the FAST-41 program provides for transparent and efficient regulatory review and predictable permitting timelines for the Spring Peak gold exploration project. The authorization of the additional potential drill sites in the proposed permit would allow for an expansion of exploration activities at the project under Stage 2 of the Spring peak earn-in agreement. The continued support of the Federal Government for mining and exploration projects underscores the growing recognition of the importance of a domestic mineral supply chain. FAST-41 is the track that high-quality, federally recognized projects are placed on, providing the transparency and predictability that are so critical to advancing exploration in the United States. With permitting clarity and a funding partnership in place, the company're well positioned to progress exploration at Spring Peak." The Burnt Rock Plan of Operations on the Spring Peak project is located in the Aurora mining district of west-central Nevada and is adjacent to Hecla's past-producing Aurora mine. The Plan of Operations proposes to increase the exploration search space on the project and opens up exploration drilling along the interpreted projection of mineralized trends under thin volcanic cover. The Plan of Operations includes the potential construction of up to 266 drill sites, 29 miles of new access roads, and a comprehensive reclamation plan for all proposed exploration activity disturbance. The Spring Peak project is located in The Walker Lane belt, west-central Nevada, approximately 50 km southwest of the town of Hawthorne. The project adjoins Hecla Mining Company's past-producing Aurora mine, where existing infrastructure includes a 600 ton per day mill, several production water wells and high-voltage three-phase power. Drilling at the Disco Zone has confirmed the presence of high-grade gold mineralization, including intersections such as 15.92 g/t Au over 2.38 m and 10.43 g/t Au over 2.,01 m within a broader zone of 2.73 g/t Au over 34.72 m. Headwater holds an option to acquire a 100% undivided interest in the Spring Peak project from Orogen Royalties, subject to retained royalties and subject to Newmont's option to acquire up to 75% of the project following certain expenditures and preparation of a Pre-Feasibility Study within a designated time frame. Duyuru • Aug 29
Headwater Gold Inc. announced that it has received CAD 1 million in funding from Centerra Gold Inc. and other investors On August 29, 2025, Headwater Gold Inc. closed the transaction. The transaction included participation from returning investor Centerra Gold Inc. Duyuru • Aug 14
Headwater Gold Inc. announced that it expects to receive CAD 1 million in funding Headwater Gold Inc. announced a non-brokered private placement to issue 3,333,333 units at a price of CAD 0.30 per unit for gross proceeds of CAD 999,999.9 on August 14, 2025. Each unit consists of one common share and one non-transferable share purchase warrant exercisable into one further share at a price of CAD 0.50 for a period of 36 months. The shares will be subject to a one year hold period from the closing date and such other restrictions as may be required by applicable securities laws and stock exchange rules. Finders’ fees may be paid in connection with the offering in accordance with the policies of the CSE. The offering is subject to the acceptance of the CSE. Insiders of the company may acquire securities under the offering. The transaction lead by existing shareholders Rick Rule and Jeff Phillips. Duyuru • Aug 12
Headwater Gold Inc., Annual General Meeting, Oct 10, 2025 Headwater Gold Inc., Annual General Meeting, Oct 10, 2025. Duyuru • May 30
Headwater Gold Inc. Identifies Outcropping High-Grade Veins at its New Doug Target on the Spring Peak Property, Nevada Headwater Gold Inc. announced the identification of outcropping high-grade epithermal veins at the newly identified Doug target, part of its expanding Spring Peak project located in Nevada. Exploration at Spring Peak is fully funded through an earn-in agreement with Newmont Corporation announced on August 16, 2022. The newly recognized veins at the Doug target were found through a recently completed surface exploration program. The Doug target lies approximately 9 kilometres north of the high-grade Disco Zone and is situated along the trend of the Bear Fault, a regionally significant structure which also hosts the Disco Zone mineralization to the south. The Bear Fault projects under thin post-mineral cover to the north from Disco to a small erosional window at Doug where prospective host rocks are again exposed. The implication is that much of the underlying hydrothermal system could be intact, with organized high-grade vein zones potentially preserved at depth. Representative vein and wall rock material was selected from individual veins up to 2 cm wide within a network of cross cutting veinlets hosted in a hornblende andesite exposed over an area of approximately 30 m2. Vein stockworks are significant exploration vectors in epithermal systems where these dense networks of mineralized veins can develop in fractured host rock peripheral to wider and more continuous quartz lode veins. The vein outcrop lies within a small erosional window where mineralized rocks are exposed beneath younger, post-mineral volcanic rocks. District Expansion and Next Steps: The discovery at Doug coincided with a major expansion of Headwater's land position through the staking of 509 new mining claims. This brings the combined Spring Peak-Lodestar land position to over 15 km of continuous strike length along the Bodie-Aurora-Borealis trend. This corridor includes several past-producing mines, such as Aurora (1.9 Moz Au1), Borealis (0.8 Moz Au2) and Bodie (1.5 Moz Au3), and has seen little modern exploration under post-mineral cover. About the Spring Peak Project: The Spring Peak project is located in the Aurora Mining District in the Walker Lane belt, westcentral Nevada, approximately 50 km southwest of the town of Hawthorne. The project adjoins Hecla Mining Company's past-producing Aurora Mine complex, where existing infrastructure includes a 350 ton per day mill, several production water wells and high-voltage three-phase power. Recent drilling at the Disco Zone has confirmed the presence of high-grade gold mineralization, including significant intersections such as 15.92 g/t Au over 2.38 m and 10.43 g/t Au over2.01 m within a broader zone of 2.73 g/t Au over 34.72 m. Headwater holds an option to acquire a 100% undivided interest in the Spring Peak project from Orogen Royalties (TSXV: OGN), subject to retained royalties and subject to Newmont's option to acquire up to 75% of the project following certain expenditures and preparation of a Pre-Feasibility Study within a designated time frame. Headwater is actively exploring one of the world's most well-endowed mineralization. Duyuru • Oct 09
Headwater Gold Inc. Announces Drilling Plans for the TJ Project, Nevada Headwater Gold Inc. announced it has identified multiple high-priority drill targets and has finalized plans for the Company's maiden drill program on its 100% owned TJ project located in northeast Nevada. Headwater's maiden drill program at TJ has been planned and is currently scheduled to commence in late October 2024. Drill permits have been authorized by the Bureau of Land Management and drill contracts are in place. The initial TJ drill program is expected to consist of approximately 5 to 7 reverse circulation drill holes ranging in depth from 250 to 400 metres. The primary objective of the drill program is to test for high-grade veins at depth along multiple sub-parallel structures in the core of the alteration cell. Shallow historic drilling targeting near surface oxide mineralization encountered broad zones of silicification, epithermal alteration, and anomalous gold in this area but did not penetrate to sufficient depths to test for potential high-grade feeder structures. The majority of historic holes were vertical and none of the holes drilled to depths beyond 150 metres. Several of the deeper historic holes encountered anomalous gold values (>0.1 g/t Au) with some ending in mineralization. Headwater drilling will target depths of approximately 175 to 250 metres vertically beneath the silica sinter exposed at the surface to test for high-grade epithermal veins within a potential epithermal boiling zone. A controlled-source audio-frequency magnetotelluric ("CSAMT") resistivity survey totaling 8.2 line-kilometres on five parallel profiles was completed by Headwater over the TJ project. Survey lines were located proximal to the main target area, where a thick accumulation of silica sinter is preserved and were designed to identify the subsurface geometry and strike extent of potential mineralized structures at depth. A broad zone of high apparent resistivity was identified directly below the sinter. This high-resistivity feature appears to be continuous over a
north-south strike length exceeding 700 metres and a good correlation exists between this high resistivity and silicified intervals logged in historic drill holes, supporting the interpretation that the observed high-resistivity is due to silicification introduced by hydrothermal alteration. Multiple high-angle resistivity breaks are also apparent in the CSAMT data within and at the margins of resistive bodies and are interpreted as potential mineralized feeder structures and the primary targets for Headwater's 2024 drilling. Detailed geologic and alteration mapping completed by Headwater near the main sinter target area, as well as regional mapping across the broader project area, has delineated
structures and helped identify multiple high-priority drill targets. High-level epithermal alteration is preserved at the surface of the property and includes a broad envelope of argillic alteration centered around a thick and laterally extensive accumulation of silica sinter and water table silica. The TJ project is located on BLM land in an underexplored area of northeastern Nevada, approximately 25 km southeast of the town of Jackpot. The project area contains indications of a fully preserved epithermal system, including a thick and laterally extensive accumulation of silica
sinter and water table silica in the core of the property. Epithermal alteration is localized along a series of steeply inclined faults that bound a sedimentary graben filled with Miocene-age sedimentary rocks and locally extends into granitic basement. Limited historic exploration at the
property included shallow RC drilling that confirmed the presence of a broad zone of high-level epithermal alteration. The Company believes that the project has potential for high-grade vein-style mineralization at depth and plans to complete an initial drill program in fall of 2024. The TJ project consists of 90 unpatented mining claims staked by Headwater and 13 unpatented mining claims under option from a private arm's length party (the "Vendor Claims"). By making an initial cash payment of USD 15,000, escalating annual payments and a USD 250,000 work commitment over a two-year term, Headwater retains a 30-year right to purchase an undivided 100% interest in the Vendor Claims for a one-time payment of USD 1,500,000 inclusive of the annual minimum payments, subject to NSR royalties of 2.5% on the Vendor Claims and 1.5%
applicable on claims within an area of interest. The Company may purchase 40% of the NSR for USD 2,000,000 at any time and an additional 40% of the NSR may be purchased for fair value within 90 days after completion of a NI 43-101 compliant pre-feasibility report. Duyuru • Sep 18
Headwater Gold Inc. announced that it has received CAD 1.54 million in funding from Centerra Gold Inc. On September 17, 2024, Headwater Gold Inc., closed the transaction. All securities issued are restricted from trading until January 17, 2025. Duyuru • Sep 10
Headwater Gold Inc. announced that it expects to receive CAD 1.54 million in funding from Centerra Gold Inc. Headwater Gold Inc. announced a non-brokered private placement of 7,000,000 common shares at a price of CAD 0.22 per share for the gross proceeds of CAD 1,540,000 on September 9, 2024. The transaction will include participation from new investor, Centerra Gold Inc. The closing of the offering is subject to certain conditions including, but not limited to, approval of the CSE and receipt of all required regulatory and other approvals. The company anticipates the Offering will close on September 16, 2024 and does not intend to expand the offering beyond the participation by the investor. All securities issued will be subject to a statutory hold period of four months and one day. Duyuru • Sep 05
Headwater Gold Inc. (CNSX:HWG) acquired Two additional epithermal vein projects in Northern Nevada. Headwater Gold Inc. (CNSX:HWG) acquired Two additional epithermal vein projects in Northern Nevada on September 4, 2024.
Headwater Gold Inc. (CNSX:HWG) completed the acquisition of Two additional epithermal vein projects in Northern Nevada on September 4, 2024. Duyuru • Jul 24
Headwater Gold Inc., Annual General Meeting, Sep 26, 2024 Headwater Gold Inc., Annual General Meeting, Sep 26, 2024. Duyuru • Apr 05
Headwater Gold Inc. Announces Planned 2024 Drill Programs on Spring Peak and Lodestar Projects, Nevada Headwater Gold Inc. announced the planned 2024 exploration activities on the Spring Peak and Lodestar projects under earn-in agreements (the "Earn-In Agreements" or "Agreements") with Newmont Corporation announced on August 16, 2022 and May 9, 2023. Headwater and Newmont have agreed upon proposed 2024 exploration activities at the Spring Peak and Lodestar projects targeting high-grade gold mineralization in epithermal veins; Exploration activities are currently expected to include up to 7,000 metres of drilling at Spring Peak and up to 3,500 metres of drilling at Lodestar; Further exploration activities including geophysics, additional geological mapping and environmental baseline surveys are currently planned across both project areas; Drilling is estimated to commence at Spring Peak in early summer 2024 and at Lodestar in the fall of 2024; As the current operator, Headwater will earn a 10% management fee on earn-in exploration expenditures; and Discussions are underway regarding potential work plans across the remainder of the Newmont earn-in project portfolio. The Spring Peak project is located in the Aurora Mining District in the Walker Lane belt, west- central Nevada, approximately 50 km southwest of the town of Hawthorne. The project adjoins Hecla Mining Company's past-producing Aurora Mine complex where existing infrastructure includes a 350 ton per day mill, several production water wells and high- voltage three-phase power. A multi-rig drill program totaling up to approximately 7,000 metres over 20 to 25 holes is scheduled to begin in early summer 2024. The primary objective of the drill program will be to test for extensions of mineralization along the Bear Fault corridor which hosts high-grade mineralization at the Disco Zone discovery. Targets along strike, down dip and in the hanging wall of the Bear Fault will be drill tested. The Disco Zone is a mineralized corridor which hosts a series of high-grade epithermal veins at depth discovered by Headwater in 2022 by drilling beneath a thick accumulation of silica sinter at surface. Drilling at the Disco Zone intercepted multiple discrete mineralized veins (Table 1). The highest-grade gold encountered to date at the Spring Peak project is in drill hole SP22-13 which intersected two individual veins assaying 15.92 g/t Au over 2.38 m and 10.43 g/t Au over 2.01 m. The highest individual assay returned 69.6 g/t Au over 0.34 m. These intervals are part of a broader zone which assayed 2.73 g/t Au over 34.72 m. A further objective of the 2024 drill program will be to test multiple new targets across the property package with initial scout drilling, including targets on newly acquired private lands which have no prior drilling. Drilling is authorized for 2024 under an existing drill permit and an expanded Plan of Operations permit has been submitted to the United States Forest Service which is projected to be approved for the 2025 drilling season. Duyuru • Dec 07
Headwater Gold Inc. Provides Exploration Update, Including Additional High-Grade Gold Results from Spring Peak Headwater Gold Inc. announced the completion of its 2023 drilling programs. Drilling at Spring Peak, Midas North and Mahogany was fully funded by Newmont Corporation (“Newmont”) (NYSE: NEM) pursuant to the earn-in agreements announced on August 16, 2022. Highlights: Spring Peak – Twenty-five drill holes were completed in the 2023 drill campaign totaling 8,475 metres (“m”); o Initial drill results extend Disco Zone mineralization to the northeast and southwest over a strike extent of at least 350 m, and to a depth of greater than 300 m below surface. Mineralization remains open in both directions and at depth; Drill hole SP23-28 intercepted 25.54 m grading 1.75 g/t Au including 8.04 g/t Au over 1.19 m and 5.35 g/t Au over 2.59 m; Drill hole SP23-33 intercepted 37.01 m grading 1.28 g/t Au including 6.53 g/t Au over 1.68 m and 6.27 g/t Au over 1.19 m; o A step out drill hole (SP23-37) has been completed approximately 400 m northeast along strike of the main Disco Zone. This hole encountered multiple epithermal veins in the target zone. Assays are pending for this hole as well as 11 additional holes from the 2023 program. Midas North – Nine drill holes were completed totaling 4,202 m at Midas North, testing six target areas. Epithermal veining and alteration were encountered in multiple target areas across the property. Assays are pending; Mahogany – Five drill holes were completed totaling 1,524 m at Mahogany, testing two target areas. No significant precious metal intercepts were encountered. The Company continues to review the data in consultation with earn-in partner Newmont to determine if additional targets of merit remain on the property; and, Katey – Eleven drill holes were completed totaling 2,803 m at Katey, testing four target areas. No significant precious metals intercepts were encountered. No further work on the project is planned by the Company at this time. Duyuru • Sep 05
Headwater Gold Inc. Appoints Philip Yee as Chief Financial Officer Headwater Gold Inc. announce the appointment of Mr. Philip Yee, MBA, CPA as Chief Financial Officer of the Company. Mr. Yee is a professional accountant with graduate degrees in business and engineering and has over 20 years' experience in corporate management, regulatory compliance, accounting, audit and taxation for both private and public companies. Previously, Mr. Yee held executive management roles at Canagold Resources, Endeavour Silver and the Augusta Group. The Company has granted 200,000 incentive stock options to Mr. Yee. Each Option is exercisable to purchase one common share of the Company at a price of $0.32 for a five-year term and will vest in six months after the date of grant. The Options are subject to the acceptance of the Canadian Securities Exchange. Duyuru • Aug 23
Headwater Gold Inc. Commences Drilling on the Midas North Project, Nevada Headwater Gold Inc. announced the commencement of an approximate 3,500 metre maiden drill program on its Midas North project, Nevada. Drilling is fully funded by Newcrest Mining Limited pursuant to the option and earn-in agreement announced on August 16, 2022. Approximately 3,500 m of initial drilling is planned, utilizing a combination of reverse circulation and diamond core drilling; The Midas North project hosts a large, un-drilled epithermal alteration cell in the northern Midas District, approximately 13 km north of Hecla Mining Company's past-producing Midas Mine; The goal of the program is to drill multiple structural targets at depth in the inferred epithermal boiling zone and test for the presence of high-grade gold and silver mineralization; and Midas North represents the fourth drill program of 2023 across the Headwater portfolio. Duyuru • Jul 29
Headwater Gold Inc., Annual General Meeting, Sep 28, 2023 Headwater Gold Inc., Annual General Meeting, Sep 28, 2023. Duyuru • Jul 18
Headwater Gold Inc. and Newcrest Mining Limited Commences Drill Program Headwater Gold Inc. and Newcrest Mining Limited have commenced a three rig 11,500 metre drill program including 30 to 35 holes, geophysics, mapping and environmental baseline studies at Spring Peak. The goal of the program is to expand the Disco zone along strike and down dip in 50 metre increases over a 500-metre strike length and to test the newly discovered Opal Ridge zone at depth. Highlight results of drilling completed in late 2022 include the following:isco Zone; 40.63 metres grading 1.86 grams per tonne ("g/t") gold, including 43.7 g/t gold over 0.63 metres (SP22-11). 42.61 metres grading 0.94 g/t gold, including 23.5 g/t gold over0.33 metres (SP22-12). 34.72 metres grading 2.73 g/t gold, including 15.92 g/t gold over 2.38 metres and 10.43 g/t gold over 2.,01 metres (SP22-13). Opal Ridge Zone discovery hole; 10.67 metres grading 2.73 g-t gold, including 16.4 g/t gold over 1.52 metres. (SP22-14). Orogen holds the right to cash payments and a 0.5% NSR royalty on the Spring Peak project, with the option to purchase an additional 0.5% NSR royalties for USD 1 million. Headwater's plan geological map of the central Spring Peak drill area with location sections A-A' (Figure 2). Adapted 1,2,3 - Headwater's Interpretive geological cross section A - A' showing results from the Disco Zone drill fence. Adapted 1,2,2,3. Maggie Creek Carlin target, Nevada, USA: Following up encouraging alteration encountered in drilling by previous operators, Nevada Gold Mines (operated by Barrick Gold) completed a detailed relogging program and data review at Maggie Creek, with plans for additional geophysics, mapping and soil geochemistry. The goal of the first phase of work is to support a planned late-2023 drill program. Orogen holds the right to Cash payments and a 2% NSR royalty. Pearl String epithermal target, Nevada, USA: Barrick Gold has mobilized drill crews at Pearl String for a five to six hole program. The plan is designed to test a region of magnetic destruction beneath the pediment proximal to a gold-rich lithocap. The widely spaced drill holes are designed to determine volcanic stratigraphy and alteration/mineralization under cover and where there is limited outcrop along the Gumdrop Fault. The goal is to use this information to vector into a more robust portion of the system. Orogen holds the right to cash payments and a 2% NSR royalty. Duyuru • Jul 14
Headwater Gold Inc. Commences Drilling at Spring Peak Project, Nevada Headwater Gold Inc. announced the commencement of drilling at the Spring Peak project in Nevada. The program is designed to follow-up on Headwater's 2022 drill results which discovered high-grade epithermal veins in two distinct target areas. Spring Peak is located in the Walker Lane belt of Nevada, immediately south of Hecla Mining Company's past producing Aurora Mine; Up to approximately 11,500 m of drilling is currently planned, utilizing three drill rigs and a combination of reverse circulation ("RC") and core drilling; The drill program is currently fully funded by a subsidiary of Newcrest Mining Limited ("Newcrest") pursuant to the option and earn-in transaction announced August 16, 2022; and The goals of the drill program are to: Offset high- grade epithermal veins discovered in Headwater's 2022 drilling at the Disco Zone which intercepted 34.72 m grading 2.73 grams per tonne gold ("g/t Au"), including 15.92 g/t Au over 2.38 m and 10.43 g/t Au over 2.,01 m; Systematically test an approximately 500 m strike segment of the Disco Zone; Follow-up drilling at the newly discovered Opal Ridge Zone below shallow high-grade mineralization encountered in RC drill hole SP22-14; and Test multiple new high-priority target areas with RC scout drill holes. 2023 Drill Program: The 2023 drill program is expected to consist of up to 11,500 m over approximately 30 to 35 holes utilizing two diamond core rigs and one RC rig.isco Zone: The Disco Zone is a mineralized fault corridor which hosts a series of high-grade epithermal vein at depth discovered by Headwater in 2022 drilling beneath a thick accumulation of silica sinter at surface. The primary objective of the 2023 drill program is to further define and expand the Disco Zone along strike and down dip at approximate 50 metre increments. Duyuru • Feb 03
Headwater Gold Inc. announced that it expects to receive CAD 2.28 million in funding Headwater Gold Inc. announced a non-brokered private placement of 6,000,000 units at a price of CAD 0.38 per share for gross proceeds of CAD 2,280,000 on February 2, 2023. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an price of CAD 0.55 for a period of 24 months following the distribution date. The finders’ fees may be payable in connection with the offering in accordance with the policies of the Canadian Securities Exchange. Duyuru • Jan 24
Headwater Gold Inc. Provides an Exploration Update on the Midas North Project Located in Elko County, Nevada Headwater Gold Inc. provided an exploration update on the Midas North project located in Elko County, Nevada. Headwater's Midas North exploration program is fully funded during the earn-in phase by Newcrest Mining Limited (Newcrest), pursuant to the earn-in agreement announced on August 16, 2022. Midas North Geophysical Surveys: The results of the geophysical surveys confirm the utility of using magnetics, radiometrics, gravity and CSAMT resistivity, together with geology, to generate high-quality drill targets at Midas North below the broad area of favourable epithermal alteration outcropping at surface. The 2022 geophysical programs consisted of: A controlled-source audio-frequency magnetotelluric (‘CSAMT’) resistivity survey totalling 36.3 line-kilometres (‘line-km’) on eight parallel 400 metre (‘m’) spaced profiles; Helicopter airborne magnetic and radiometric surveys totalling 357 line-km completed at 100 m spacing totalling 32.5 km2; and, A ground gravity survey consisting of 767 stations on a 200 m grid to 400 m grid regionally, with a total survey footprint of 114 km2. Geophysical Targets Areas: Headwater has identified multiple drill targets by analyzing the multi-parameter geophysical data described above. The principal targets contain geophysical and geological characteristics indicating potential to host kilometre-scale feeder zones at depths of 200m to 400m below the outcropping mapped sinters and other high-level hot-spring-type alteration mapped at surface. Big Opal Sinter Target: NNW-striking sub-vertical resistivity break beneath outcropping vent facies sinter deposits with interpreted mafic sill at depth. Strong geological similarities to Hecla's recent Green Racer Sinter vein discovery on the adjacent Midas Mine complex. Big Opal Fault Target: Kilometre-scale NNW-striking resistivity break at the margin of a large resistivity high (Big Opal Resistor) interpreted as a thick water table silica blanket. Big Opal Resistor Target: High-angle resistivity break beneath the Big Opal Resistor. Jo Belle Fault Target: District-scale fault associated with kilometre-scale, strongly resistive CSAMT feature (Nevada Grande Resistor). The stratigraphic offset and fault orientation are considered geologically comparable to the high-grade Colorado Grande vein in the main Midas district. Strong illite-adularia alteration is interpreted from a NNW- trending radiometric high (potassium channel) along the fault trace. Nevada Grande Resistor: Large resistor with approximately 2 kilometres of strike extent in the hanging wall of the Jo Belle fault interpreted to potentially represent a second locus of fluid flux and vein formation separate from the Big Opal structural corridor. CSAMT Survey The CSAMT data collected by the Company has proven particularly effective for mapping the subsurface geometries of interpreted silica alteration beneath areas of high-level silica and steam- heated clay alteration, interpreted to represent the upper portion of a completely preserved epithermal system. Multiple high-angle resistivity breaks occur adjacent to and beneath shallow, tabular resistive bodies, each with over 2 kilometres of strike length. Airborne Radiometric Survey Radiometric survey results and potassium data in particular show discrete linear radiometric highs which may represent corridors of illite-adularia alteration that are subparallel to the feeder structures interpreted from the CSAMT data. The potassium data additionally reveal a broad, spatially continuous low coincident with the principal area of strong surface alteration potentially attributable to a broad zone of argillic alteration. Airborne Magnetic Survey Strong contrasts in magnetic response reveal numerous NNW-trending linear magnetic lows, as well as a broad magnetic high in the Big Opal area. The linear magnetic low features are consistent with magnetite-destructive alteration of the host volcanic rocks along structural corridors which potentially focused geothermal fluids. Several discrete magnetic highs elsewhere on the property correspond with outcropping mafic sills. The large, low-amplitude magnetic high is interpreted by Headwater as a possible buried mafic intrusion, analogous in character to the sill-dike complexes spatially and temporally associated with high-grade vein deposits elsewhere in northern Nevada, such as Midas, Hollister, Fire Creek and Mule Canyon. Gravity Survey: The core of the property is characterized by a broad gravity low which suggests a possible zone of pervasive argillic alteration in the surrounding volcanic host rock. The gravity low broadly overlaps with the footprint of a radiometric low and encompasses the areas of highest intensity alteration mapped at surface. The NNW elongation of the gravity low is consistent with property- wide structural trends detected by other geophysical surveys and surface mapping. Duyuru • Jan 11
Headwater Gold Reports High-Grade Gold from Multiple Veins in Initial Assays from Drill Hole Sp22-13, Spring Peak Project, Nevada Headwater Gold Inc. reported initial assay results from the core completion of drill hole SP22-13 from its Spring Peak project, located in Nevada, USA. The completion of the 2022 drill campaign at Spring Peak was announced on December 7, 2022. Drill hole SP22-13 intersected two individual veins which assayed 15.92 grams per tonne gold (‘g/t Au’) over 2.38 metres (‘m’) and 10.43 g/t Au over 2.01 m respectively. The higher individual assay returned 69.6 g/t Au over 0.34 m. These intervals are part of a broader zone which assayed 2.73 g/t Au over 34.72 m; Initial assays confirm the presence of high-grade gold in banded epithermal veins in the Disco Zone which was discovered by Headwater scout drilling in November 2021; These results are the first and only batch of assays received to date from Headwater's 2022 Spring Peak drill program. Results from the remainder of the 2022 program, which totalled 3,173 m, are expected in First Quarter 2023; The Spring Peak drill program was 100% funded by Newcrest Mining Limited (‘Newcrest’) pursuant to the earn-in agreements announced on August 16, 2022; and A more extensive follow-up drilling program to define the lateral and down dip extents of the vein system is currently being planned. The Company utilized a combination of core and RC drilling at Spring Peak to complete 3,173 metres of drilling prior to the winter shut-down. The program consisted of 993 metres of core drilling, 1,076 metres of RC pre-collars and 1,104 metres of RC exploration drilling. The Disco Zone was the higher priority target of the program and was intersected with oriented diamond core in all four holes designed to test for high-grade veins. The four holes that intersected the Disco Zone were drilled on a single fence with mineralization open up-dip, down- dip and along strike. The Disco Zone occupies the footwall margin of a broad, northeast-striking fault zone that is oriented similarly to vein trends at the adjacent past producing Aurora mine complex. An additional six drill holes tested a variety of targets at depths greater than 150 metres elsewhere on the property. All holes encountered epithermal alteration and veining, confirming that the epithermal system extends beneath silica alteration mapped at surface over a large area of the property. Assays from these new targets tested in 2022 remain outstanding. Within the Disco Zone, hole SP22-13 intersected two discrete high-grade veins with textures indicative of boiling, including ginguro banding, silica replacement of lattice-bladed calcite and vein sediments. The high-grade veins are within a broader mineralized interval which contains additional veins and breccia intervals characterized by fine-grained silica-sulfide flooding and argillic alteration. The opaque, fine-grained character of silica within the veins, along with the absence of coarse crystalline quartz textures, indicates that drilling may not have reached the base of the boiling horizon which is the epithermal zone typically associated with high-grade precious metals.