Heritage Mining samples 25 g/t Au at Drayton-Black

Oct 20, 2022

2022-10-19 13:16 ET – News Release

Mr. Peter Schloo reports

HERITAGE MINING LTD. PROVIDES FIELD PROGRAM UPDATE

Heritage Mining Ltd. has released recent results from the 2022 exploration program at the company’s flagship Drayton-Black Lake (DBL) project and has provided an update on the current field program. The Drayton-Black Lake project is located in Northwestern Ontario, approximately 20 kilometres northeast of Sioux Lookout, Ont., and comprises approximately 15,257 hectares near the northern margin of the Wabigoon subprovince within the Abrams-Minnitaki Lake (AML) greenstone belt. The DBL property is along strike of and contiguous with Treasury Metals Inc.’s Goliath gold-silver complex.

Program highlights (area/target/prospect)

The company has received the final analytical results from the summer prospecting and check sampling* program at DBL. Samples were received from the Drayton, Moretti and Split Lake areas:

At the W-H target (Drayton area), results from six samples returned values from below detection to 2.28 grams per tonne gold, with four of the six samples grading over one g/t Au.
At the K171 target (Drayton area), results from six samples returned values from below detection to 0.50 g/t Au and one sample (quartz-carbonate vein with pyrite) returned a value of 25 g/t Au.
Six samples from regional prospecting (Split Lake area) returned low Au values ranging from 0.009 to 0.022 g/t Au.
Fifteen samples from regional prospecting at the Botsford Lake target (Moretti area) returned values ranging from below detection to 0.71 g/t Au.
Six samples from regional prospecting (Moretti area) near the Bellekeno and Clamshell Lake targets returned Au grades ranging from below detection to 2.01 g/t Au, in a sulphide-rich mafic metavolcanic unit.

The summer 2022 sampling program has identified both high-grade, vein-hosted Au mineralization and moderate to low-grade volcanic-hosted Au mineralization; the latter in deformed and altered sulphide-bearing mafic rocks. Both styles of mineralization were found across a broad footprint through the DBL property.

*Grab (chip) sampling is a selective sampling method and the reader is cautioned that these samples may not represent the actual tenor of mineralization at a larger scale. Therefore, the company has initiated a systematic channel sampling program on select prospects within the priority targets.

The company’s systematic channel sampling program began in early October and is scheduled to be completed by the end of the month.

Peter Schloo, chief executive officer of Heritage Mining, commented: “We are pleased to report the additional assay results from our ongoing field program. A very impressive start. Systematic channel sampling on priority areas is currently well under way and anticipated to be completed by the end of the month. We look forward to communicating additional findings and drill targets to the market in timely manner, and we remain very excited about this project.”

About the Drayton-Black Lake project

The Drayton-Black Lake flagship project is located near the town of Sioux Lookout in Northern Ontario and comprises more than 15,000 hectares within the Abrams-Minnitaki Lake greenstone belt along strike of and contiguous with Treasury Metals’ Goliath gold-silver complex. There are numerous historic high-grade gold (silver, copper) occurrences (including past mining operations) and showings throughout the property. All set within a broad multikilometre regional-scale shear zone and related secondary and tertiary structural elements. Mineralization is typically shear-hosted quartz-carbonate veins with minor sulphides. Data from historic reports indicate a high silver content (2:1 up to 10:1 Ag:Au) with a galena (plus/minus pyrite, phosphorus, chalcopyrite and sphalerite) association. Locally, mineralized massive sulphide (pyrite plus/minus chalcopyrite) occurrences have been documented. In the AML greenstone belt, some of these sulphide-rich occurrences have been reclassified as a hybrid or preorogenic atypical greenstone gold (POAGG) by some authors (such as Treasury Metals’ Goliath deposit).

Heritage employs a rigorous quality management system for field sampling and analysis. All samples and sample sites are described, photographed and georeferenced, and digitally archived at the time of sample collection. Material is securely bagged at the sample site and returned to the field office for secure storage. Sampled are delivered to ALS laboratory in Thunder Bay, Ont., for prep and analysis. Samples are crushed (one kilogram) and pulverized (250 grams; PREP-31A). Au values are determined by fire assay (Au-AA23), and overlimits (Au) are treated with a gravimetric finish (Au-GRA21). Multielement analysis provided by inductively coupled plasma mass spectrometry (ME-MS-61). Pulps and rejects are retained for check and duplicate analysis.

Scientific and technical information contained in this press release has been prepared under the supervision of Steve King, PGeo, technical adviser to HML, a qualified person within the meaning of National Instrument 43-101 — Standards of Disclosure for Mineral Projects.

Sampling protocols, quality assurance and quality control measures, and geochemical results related to historic results (such as production, drilling, trenching and channel samples) quoted in this news release have not been verified by the qualified person and therefore must be regarded as estimates.

About Heritage Mining Ltd.

The corporation is a Canadian mineral exploration company advancing its two high-grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Abrams-Minnitaki Lake greenstone belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The corporation is well capitalized, with a tight capital structure.

We seek Safe Harbor.

https://heritagemining.ca/