Headwater Gold’s (CSE:HWG) initial assays report high-grade gold from multiple veins

• Headwater Gold (HWG) reported initial assay results of one of its drillhole cores from its Spring Peak project in Nevada’s Aurora Mining District
• Caleb Stroup, CEO of Headwater Gold, sat down with Sabrina Cuthbert to discuss this news
• Using both core and RC drilling, the company completed 3,173 metres of drilling through the entire 2022 program
• Drill hole SP22-13 intersected two individual veins, which assayed 15.92 grams per tonne gold (g/t Au) over 2.38 metres and 10.43 g/t Au over 2.01 metres, respectively
• Headwater Gold Inc. (HWG) opened trading at C$0.40 per share

Headwater Gold (HWG) reported initial assay results of one of its drillhole cores from its Spring Peak project in Nevada’s Aurora Mining District.

Using both core and RC drilling, the company completed 3,173 metres of drilling through the entire 2022 program.

Initial assays confirm the presence of high-grade gold in banded epithermal veins in the Disco Zone, the highest priority target of the program, designed to test for high-grade veins.

Drill hole SP22-13 intersected two individual veins, which assayed 15.92 grams per tonne gold (g/t Au) over 2.38 metres and 10.43 g/t Au over 2.01 metres, respectively. The highest individual assay returned 69.6 g/t Au over 0.34 of a metre. These intervals are part of a broader zone which assayed 2.73 g/t Au over 34.72 metres.

A more extensive follow-up drilling program to define the lateral and down dip extents of the vein system is currently being planned. Results from the remainder of the 2022 program are expected in Q1 2023.

Caleb Stroup, CEO of Headwater Gold, sat down with Sabrina Cuthbert to discuss this news.

“Proving the presence of high-grade banded epithermal veins below a barren sinter cap is a significant milestone for the Spring Peak project and Headwater. These high-grade intercepts further support the geologic similarity of Spring Peak to Hecla’s nearby past-producing Aurora mine complex and highlight the exploration potential of the Project. We are eagerly awaiting the remainder of the assays, including the final silver assays. Still, the initial SP22-13 results are particularly exciting because they demonstrate the high-grade potential of the Disco Zone. A more extensive follow-up drilling program to define the lateral and down dip extents of the vein system is currently being planned. The remaining pending assays, including assays from the RC pre-collar of SP22-13 (surface to 231.65 m), will shed further light on the character and grade of the vein zone up-dip, where we only have a single RC intercept from 2021. Also pending are assays from multiple new target zones, which were tested in 2022 throughout the Spring Peak property where we believe there is good potential for additional high-grade veins.”

Headwater Gold Inc. is a mineral exploration company focused on exploring high-grade precious metal deposits in the Western USA.

Headwater Gold Inc. (HWG) opened trading at C$0.40 per share.