First Pass Drilling Completed At The TJ Project

VANCOUVER - Headwater Gold Inc. reported on the successful completion of the  maiden drill program on its TJ project, located in northeast Nevada. The initial drill program at TJ consisted of five reverse-circulation (RC) drill holes totaling 1,030 metres. Drilling tested multiple targets for high-grade epithermal veins beneath outcropping silica sinter and generally down-dip of shallow historic drill holes that encountered anomalous gold mineralization. All drill holes encountered strong alteration indicative of the upper levels of an epithermal system, characterized by broad and laterally extensive intervals of silicification, veining, hydrothermal brecciation and elevated sulfide concentrations. Three holes targeting the East Sinter Fault intersected significant quartz veining with epithermal vein textures diagnostic of the upper portions of an epithermal system.  

Favourable alteration and epithermal veining encountered in the first-pass drill program confirms the presence of a large, fully preserved epithermal system and will provide critical vectors to guide future drilling to test for high-grade gold at depth and along strike. Final assay results are pending and expected in Q1 2025.

Caleb Stroup, President and CEO, said, “We are very pleased to announce the successful completion of our maiden drill program at TJ, which confirms the presence of a robust and fully preserved epithermal system at depth below the silica sinter at surface. The abundance of epithermal quartz veining and the high sulfide content of the vein zones are particularly encouraging. Initial visual observations suggest the vein intersections are relatively high in the epithermal system, leaving significant potential for further exploration at depth.

Assays are pending and expected early in the new year, but the geological and alteration data from this program already provides critical insights into the scale and preservation of the system. This information will guide future drilling, particularly deeper into the system where further potential remains. TJ continues to stand out as a high-quality project that looks more promising than ever, with excellent potential to create value for shareholders through a meaningful discovery.”