Headwater Gold Receives Drill Permit for Lodestar Project, Nevada

Core Insights - Headwater Gold Inc. has received approval for the Lodestar Plan of Operations from the U.S. Forest Service, allowing the company to commence drilling activities [1][3] - The upcoming drill program will be the first test of a high-priority untested high-grade vein target in the Lodestar project, which is located in a promising epithermal gold district in Nevada [2][5] Drilling Program Details - The drill program is fully funded through a minimum expenditure commitment of US$2 million by Newmont, consisting of up to 3,500 metres and 10 to 15 holes [3] - Initial drilling will focus on the Zodiac target, which is interpreted as the preserved paleosurface of an epithermal system showing significant hydrothermal activity [3] Project Background - The Lodestar project is situated in the Aurora Mining District, approximately 10 km north of Headwater's Spring Peak project, and adjacent to Hecla Mining Company's past-producing Aurora mine complex [5] - Historic drilling at Lodestar encountered anomalous gold but did not test deeper feeder structures, indicating substantial exploration potential [5] - Headwater holds an option to acquire a 100% interest in the Lodestar project, with Newmont having the option to acquire up to 75% following certain expenditures and the delivery of a Pre-Feasibility Study [5]