Headwater Gold Advances Targets at Crane Creek and Receives Permits for Initial Drill Test

Core Insights - Headwater Gold Inc. has completed airborne magnetic and radiometric surveys along with a ground gravity survey at its Crane Creek gold project in Idaho, and has received necessary drilling permits [1][2][16] - The company has identified new high-priority drill targets beneath gold-bearing epithermal quartz veins, which have not been tested at depth, indicating potential for significant mineralization expansion [2][15] - The geophysical surveys have revealed a 4 km by 2 km zone of potassium enrichment, suggesting hydrothermal alteration and highlighting exploration potential beyond previously known areas [2][3][12] Geophysical Survey Results - The airborne radiometric survey covered 302 line-km and identified a broad radiometric high associated with increased potassium concentrations, indicating hydrothermal fluid flow [3][12] - The magnetic survey revealed a strong NNW structural trend, allowing for the mapping of potential target structures under cover, which have not been drill tested [8][11] - Ground gravity surveys indicated a northwest-trending gravity low, consistent with basin-bounding structures, and highlighted the continuity of a major Miocene graben, a favorable setting for epithermal deposits [12][15] Exploration Strategy - The company is evaluating strategic options for advancing the Crane Creek project, including potential partnerships and the possibility of conducting initial drilling independently [2][19] - Permits for exploration drilling are in place, allowing for confirmation drilling of historical mineralized zones and initial tests at untested depths [16][17] - The integration of new geophysical data with existing datasets suggests the potential for testing historic high-grade intercepts and newly generated structural targets [15][18] Project Overview - The Crane Creek project is located in western Idaho, approximately 18 km northeast of Weiser, and encompasses 1,240 hectares of mineralized epithermal quartz veins [17][19] - Historical drilling from 1984 to 1996 primarily targeted shallow mineralization, with many high-grade intercepts not followed up, indicating untapped potential at greater depths [18][19] - The project is strategically positioned near the Nutmeg Mountain gold deposit, enhancing its exploration appeal [12][17]