- Headwater Gold has reported assay results from its Midas North project in Nevada
- Nine drill holes were completed for a total of 4,202 metres to test six target areas
- Epithermal veining and alteration were encountered across multiple target areas on the property
- Shares of Headwater Gold are down 2.86 per cent to C$0.17 as of 10:23 am ET
Headwater Gold (CSE:HWG) has reported drill results from its maiden drill program the Midas North project in Nevada.
In a news release, the company stated roughly nine drill holes were completed for a total of 4,202 metres, testing six target areas.
Notably, drill hole MN23-02 returned 47 grams per ton (g/t) silver over 9.14 metres below the Big Oval sinter, while drill hole MN23-06, which targeted the Jo Belle fault, intersected 0.51 g/t gold over 1.52 metres.
Caleb Stroup, president and CEO of the company, said in a statement, “We are very encouraged by the results of our initial scout drill program at Midas North, which constituted the first known drilling on the property. This first-pass program has confirmed that alteration and epithermal veining persist at depth below surface alteration and has identified anomalous precious metals at depth in multiple areas.”
Additionally, first-pass evaluation of the initial target areas at the property successfully identified epithermal veining and favourable alteration at depth.
Headwater Gold added that it continues reviewing data with its earn-in partner Newmont (TSX:NGT) for potential follow-up work at the project.
Based out of Vancouver, Headwater Gold is a mineral exploration company focused on high-grade precious metal deposits in the western region of the United States.
Shares of Headwater Gold are down 2.86 per cent to C$0.17 as of 10:23 am ET.
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