Headwater Gold stakes Rock Creek, Hot Creek

Sep 5, 2024

2024-09-04 11:38 ET – News Release

Mr. Caleb Stroup reports

HEADWATER GOLD ACQUIRES TWO ADDITIONAL 100% OWNED EPITHERMAL VEIN PROJECTS IN NORTHERN NEVADA

Headwater Gold Inc. has acquired two additional epithermal vein projects, Rock Creek and Hot Creek, in northern Nevada. Both projects have been acquired through claim staking on open ground managed by the Bureau of Land Management (BLM).

Highlights:

Two new projects in northern Nevada: Headwater has acquired the Rock Creek and Hot Creek epithermal gold projects by claim staking on BLM land. Both projects are 100 per cent owned and are royalty free.
Large epithermal gold systems: Both projects host widespread epithermal alteration footprints indicative of large hydrothermal systems. High-level silica alteration, including hydrothermal vent breccias and opalized sediments, are present indicating the systems are likely fully preserved.
Untested high-grade targets: Historical surface sampling and drilling indicate the widespread presence of near-surface anomalous gold mineralization on the properties. Limited drilling has been completed in the target epithermal boiling zones at depth.

Caleb Stroup, the president and chief executive officer of the company, states: “The acquisition of the Rock Creek and Hot Creek projects significantly enhances our portfolio of high-potential epithermal gold projects in northern Nevada. The historical datasets from these projects provide a strong foundation for a systematic modern exploration effort with the geological characteristics pointing towards untested potential for high-grade precious metals at depth. We are particularly excited about the potential at Rock Creek where the Main vein target remains open along strike in both directions, as well as downdip. These 100-per-cent-owned and royalty-free acquisitions align perfectly with our strategy of maintaining a large, active portfolio of high-grade epithermal projects and provide our shareholders with exposure to significant upside potential.”

Rock Creek project: The Rock Creek project is located along the eastern margin of the Northern Nevada Rift, which hosts multiple high-grade epithermal gold mines such as Midas, Fire Creek and Hollister. Headwater acquired Rock Creek by staking 103 unpatented mining claims on BLM land. Headwater’s land position adjoins private land and mining claims controlled by Nevada Gold Mines (NGM) and captures the along strike and downdip projections of the three principal vein systems in the district: the Main vein, SW vein and SE vein. These principal structures occur within an approximate five-kilometre-by-1.5-kilometre epithermal alteration cell. An outcropping hydrothermal vent breccia cemented by chalcedonic silica in the centre of the zone is interpreted as the upper parts of a well-preserved epithermal system. Historic rock sampling has returned gold values locally up to 34.2 grams per tonne (g/t) where the Main vein projects south on to Headwater claims and the northernmost historic drill hole testing the Main vein, also on Headwater claims, returned 27.43 metres (m) grading 0.89 g/t Au, including 4.64 g/t Au over 1.53 m, suggesting strike potential in both directions.

Future exploration at Rock Creek will focus on compiling and digitizing historical datasets to create a comprehensive 3-D (three-dimesional) model, additional geological mapping, surface sampling and potential geophysical surveys to refine targets.

Hot Creek project: The Hot Creek project consists of 52 unpatented mining claims staked by Headwater in the Tuscarora district. The project hosts a widespread zone of silica flooding in Tertiary sediments in the immediate hangingwall of a silicified range front fault. Historical shallow drilling results include grades up to 1.04 g/t Au over 12.2 m and 0.34 g/t Au over 117.3 m along a range front fault. The majority of the historic drill holes at Hot Creek were relatively shallow and did not adequately test for the presence of high-grade feeders at depth along the range front fault or subsidiary structures.

Future exploration at Hot Creek will focus on refining the geological model, identifying new high-potential zones and conducting additional geological mapping and surface sampling.

About Headwater Gold Inc.

Headwater Gold is a technically driven mineral exploration company focused on the exploration and discovery of high-grade precious metal deposits in the western United States. Headwater is aggressively exploring one of the most well-endowed and mining-friendly jurisdictions in the world, with a goal of making world-class precious metal discoveries. Headwater has a large portfolio of epithermal vein exploration projects and a technical team of experienced geologists with diverse capital markets, junior and major mining company backgrounds.

We seek Safe Harbor.

https://headwatergold.com/