Uncover Ontario’s Mining Potential with Heritage Mining

Overview

Mining in Ontario is huge enterprise. In 2021, Ontario’s mining industry produced roughly C$11.1 billion value of minerals, accounting for 20 % of Canada’s whole manufacturing worth. The significance of the mining business has helped create a mining-friendly jurisdiction that understands the worth of capitalizing on its pure sources. That’s why the Fraser Institute has ranked Ontario among the top 15 jurisdictions worldwide for funding attractiveness.

Moreover, the Canadian government is making a significant push to ramp up the manufacturing of essential minerals, together with copper, lithium and aluminum. This push has resulted in additional than 31 critical mineral projects in superior exploration levels in Ontario,e paving the best way for the event of a home provide chain for the nation.

Heritage Mining (CSE:HML) is an exploration and improvement mining firm with district-scale property focusing on gold and copper mineralizations inside Ontario. The corporate’s flagship Drayton-Black Lake challenge is a strategically assembled district-scale challenge with encouraging bulk samples, high-grade gold intercepts and sturdy current infrastructure. An skilled administration workforce leads Heritage Mining with greater than 100 years of mixed expertise working throughout the pure sources sector.

The Drayton-Black Lake challenge is a district-scale asset with a wealthy historical past, however a single firm has by no means operated your entire space. As a substitute, it was break up up amongst completely different operators and has by no means acquired systematic exploration to find out its mineralizations’ precise width and depth.

Consequently, Heritage Mining is launching the primary systematic exploration program that can establish promising deposits all through your entire space of this historic area from a low-grade, high-tonnage perspective.

The corporate entered a definitive asset buy settlement with Bounty Gold Corp. to amass 50 mining claims within the Break up Lake zone adjoining to Heritage’s flagship Drayton-Black Lake challenge. Heritage will purchase a one hundred pc curiosity within the Break up Lake property in alternate for issuing Bounty 100,000 widespread shares.

“Relative to different initiatives within the space, we’re very near infrastructure. There’s a paved freeway via the property, all-weather logging roads, and well-maintained ATV roads. So it’s fairly a bit completely different than different initiatives in Northern Ontario: there are not any ice roads and we don’t must fly in to do work,” CEO Peter Schloo stated in an interview.

The corporate additionally operates the Contact Bay challenge containing high-grade copper-nickel mineralizations. The 4,700-hectare land bundle is inside an lively mining space and has recognized gold, nickel and platinum-palladium mineralizations. Whereas the Drayton-Black Lake challenge is the primary focus, Contact Bay will expose the corporate to essential minerals.

Heritage Mining’s administration workforce has a confirmed observe report within the mining business and has overseen transactions exceeding C$15 billion. As well as, the workforce has expertise in company finance, administration and geology.

Firm Highlights

• Heritage Mining is an exploration and improvement mining firm with district-scale alternatives in Ontario, Canada, focusing on gold and copper.
• The corporate’s flagship challenge, the Drayton-Black Lake challenge, has sturdy historic outcomes however has by no means been systematically explored from a low-grade, high-tonnage perspective. Heritage is the primary firm to personal your entire space and can conduct an intensive exploration program to establish promising mineralizations.
• Drayton-Black Lake challenge has current infrastructure that gives year-round freeway entry to the property, a big benefit over different regional initiatives.
• Samples from the corporate’s 2022 subject program confirmed a number of high-grade gold vein system channels.
• Heritage Mining’s Contact Bay challenge incorporates high-grade copper-gold mineralizations and exposes the corporate to the essential minerals market that’s quickly rising inside Ontario.
• A veteran administration workforce leads the corporate with a mixed 100 years of expertise within the mining sector.

The 14,229-hectare challenge has undergone important historic exploration, together with greater than 176 holes drilled, with high-grade gold and copper discoveries. The challenge is situated in a mature mining district in Ontario, a jurisdiction recognized for its low geopolitical threat and mining-friendly authorities.

Venture Highlights:

• Precedence Zones Recognized: Heritage Mining has recognized 4 precedence gold zones with a number of historic high-grade intersections that can information future exploration applications. These zones are:
  • Moretti Zone – Samples as much as 1,212 g/t gold
  • Break up Lake Zone – 0.7 meters at 14.8 g/t gold
  • Shaft Zone – 2 meters at 14.5 g/t gold
  • West Zone – As much as 150.86 g/t gold
• Over 100 Years of Historic Knowledge: Exploration information from the previous century is being compiled to create a higher understanding of the world that can quickly advance the challenge by guiding future exploration choices.
• 2022 Discipline Program Completion: Exploration program included property-wide MagEM airborne geophysical surveying, regional mapping, prospecting and sampling along with the just lately accomplished channel sampling work. Outcomes from seize samples embrace:
  • as much as 58.1 g/t gold at Primary Prospect
  • as much as 24.6 g/t gold at Pond Prospect
  • as much as 46.5 g/t gold at New Millennium Prospect
  • as much as 208 g/t gold at Moretti
  • as much as 0.95 g/t gold at Black Lake
• 2023 Drill Program Highlights: Completion of drill program validated and expanded the deformation hall, now boasting a formidable ~200 meters width, 1 kilometer in strike size and a depth reaching at the least 145 meters.
  • Alcona Space, HML23-007: 0.90 g/t gold over 10.15 meters from 104.75 meters
  • Moretti Space, HML23-012: 1.01 g/t gold over 5 meters from 105 meters

The Alcona Space has been accepted for Section II Drill Program to outline its deposit potential.

The challenge covers 4,700 hectares and incorporates a number of high-grade copper-nickel and gold occurrences. Contact Bay can be situated in Ontario andt is within the exploration section, with targets recognized for exploratory drilling.

Venture Highlights:

• Promising Mineralization Kinds: The asset incorporates a various vary of mineralizations, together with:
  • Northeast – Rock pattern assayed 0.40 g/t gold and 0.7 % copper, sheared and altered gabbro
  • Northeast – A 1.2-meter chip channel assayed 4.2 g/t Au
  • Platinum and Palladium values as much as 0.28g/t
• Precedence Targets Recognized: Heritage Minerals has three precedence drill targets, every with high-grade historic drill intersections that warrant further follow-up.
• Spectacular Geophysical Interpretation: Thrilling highlights from exploration work embrace the interpretation defining two substantial mafic-ultramafic intrusive our bodies with a number of nickel-copper-PGE (platinum group components) goal areas:
  • Nabish Lake Space: ~ 5 kilometers lengthy, as much as 1 kilometer huge, over 1 kilometer in depth)
  • North Nabish Lake Space: ~ 2 kilometers lengthy, 1 kilometer huge, over 1 kilometer in depth

Geophysical interpretation of the Contact Bay space together with findings from the 2023 prospecting program, recommend geological similarities to different Archean nickell-copper-PGE occurrences and deposits.

Administration Workforce

Peter Schloo – President, CEO and Director

Peter Schloo holds the CPA, CA and CFA designations with over eight years of progressive expertise in capital markets, operations and assurance. He has held senior government and director positions in numerous personal firms, a majority within the valuable metals sector together with CFO of Spirit Banner Capital and VP of company improvement and interim CFO for Ion Vitality. Schloo can be at the moment a director of Pacific Empire Minerals. (PEMC). His previous successes embrace over C$80 million in related capital elevating alternatives involving private and non-private firms.

Patrick Mohan – Chairman and Director

Patrick Mohan is a 35-year investor relations veteran and is the founder, president and chief government officer of Mohan Group. Mohan can be on the board of Metals Creek Assets Corp. Beforehand, he occupied the place of president, CEO, director and head of investor relations at Kitrinor Metals. Mohan’s previous successes embrace the event of the Cote Gold Venture and the sale of Trelawney Mining & Exploration to IAMGOLD for C$585 million (US$595 million) in money In 2012.

Wray Carvelas – Director and Chair of Compensation Committee

Wray Carvelas has supplied 25 years of visionary management, growing and implementing formidable strategic plans. As a senior government at DRA International he was answerable for the expansion and improvement of the enterprise in each North and South America. The mandate was to develop enterprise within the Americas, each organically and inorganically with none important capital base. Carvelas additionally held positions at KBR, ELB, and De Beers, involving administration of improvement, manufacturing, and metallurgical (R&D and capital administration) tasks.

Thomas Reid – Director

Thomas Reid has a 30 yr profession with Solar Life Monetary as CFO Canada and head of company improvement. Since becoming a member of Solar Life Monetary in 1994, Reid has held more and more senior positions all through Solar Life in finance, company improvement, public relations and investor relations. From 2009 to 2020, Reid led the group retirement providers enterprise at Solar Life, rising the property below administration from $30 billion to $130 billion. For the final 4 years, Reid was answerable for the technique and progress workforce for Solar Life in Canada, the place his workforce led strategic planning for the Canadian companies and explored how Solar Life may spend money on new companies to speed up the corporate’s progress in Canada. Reid additionally holds the CPA and CA designations.

Rachel Chae – CFO

Rachel Chae, with over eight years of expertise, has served as CFO for varied publicly traded firms, together with a number of Canadian junior mineral exploration firms. She holds the chartered skilled accountant designation working at Cross Davis & Firm LLP, a chartered skilled accountant agency offering accounting providers to publicly listed entities, primarily within the mining sector.

Patrick Sullivan – Company Secretary

Patrick Sullivan is a mining, M&A and securities lawyer at a nationwide legislation agency with a decade of expertise within the junior mineral exploration sector. He has acted on a number of important international mining transactions together with South32 Restricted’s $2.1 billion acquisition of Arizona Mining, Washington Firms’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Useful resource Company. Sullivan additionally has important expertise advising on mineral stream and royalty finance transactions.

Rick Horne – Geologist

Rick Horne has over 40 years of expertise as an financial geologist. His expertise contains senior roles with Acadian Mining (Atlantic Gold) as chief geologist and with Dufferin Gold Mine (Useful resource Capital Gold) as chief geologist and mine supervisor. Horne is an knowledgeable in lode gold techniques, structural geology and geological mapping spending 22 years with NS Vitality and Mines focussing on Bedrock mapping.

Mitchel Lavery, – Advisor

Mitchel Lavery has over 45 years’ expertise within the exploration and improvement of mining initiatives with a number of junior and main mining firms. Lavery was instrumental within the discovery of the Bell Creek Gold Mine in Timmins, ON; the event and operation of the Joubie Gold Mine, Val-d’Or, QC; and the acquisition and improvement of the Quebec Lithium property, Lacorne, QC. He’s the president and a director of Seahawk Gold. and is a certified individual below NI-43-101 laws.