Headwater Gold Commences Drilling at Lodestar Project, Nevada

Core Insights - Headwater Gold Inc. has commenced drilling at the Lodestar project in Nevada, with a total program of up to 3,500 meters of core and reverse circulation drilling, fully funded through an agreement with Newmont Corporation [1][3][5] - The initial focus will be on the Zodiac sinter target, which is believed to have significant discovery potential due to its geological and geophysical characteristics [2][5] - The drilling program aims to test structural feeders beneath the sinter and various geophysical anomalies for high-grade epithermal veins at depth [2][3] Drilling Program Details - The drilling program will consist of 10 to 15 holes targeting multiple gold prospects on the Lodestar property [3] - The program is fully funded by a minimum expenditure commitment of US$2 million from Newmont [3] - The first systematic test will focus on the Zodiac sinter ridge target, with drilling planned to reach depths greater than 100 meters [3][5] Geological Context - The Lodestar project is located in the Aurora Mining District, near Hecla Mining Company's past-producing Aurora mine complex, which has existing infrastructure [11] - The Zodiac target has approximately 700 meters of exposed strike length and is expected to extend under volcanic cover [5] - The drilling aims to intersect an inferred boiling horizon 150 to 250 meters below the surface, where gold-silver deposition is anticipated [5][11] Exploration Strategy - The drill program is designed to adapt based on geological findings and analytical results, allowing for flexibility in targeting mineralized structures [5] - Additional drilling will target concealed structures using geophysical data, including CSAMT resistivity and induced polarization [8] - The exploration model is based on successful findings at the Spring Peak project, with expectations of high-grade mineralization in steeply dipping feeder faults at depth [11]