Headwater obtains permits, defines Crane Creek targets

Executive Summary

• Headwater Gold completed extensive airborne magnetic, radiometric and ground gravity surveys on its 100 %‑controlled Crane Creek gold project in western Idaho.
• The company received all required BLM and Idaho Department of Lands permits for up to 14 drill pads, enabling confirmation drilling of historic zones, initial deep testing, and expansion along strike.
• New high‑priority targets have been identified beneath known epithermal quartz veins and within a four‑km × 2‑km potassium‑enriched anomaly, suggesting the potential to significantly expand the mineralized footprint.

Key Details

• Survey Scope: 302 line‑kilometres of helicopter‑borne magnetic & radiometric data at 100 m spacing covering 27.4 sq km; ground gravity survey of 440 stations (≈500 m spacing) plus a high‑resolution 69‑station grid over the vein system.
• Radiometric Findings: A four‑km long by two‑km wide potassium enrichment zone coinciding with illite‑adularia alteration, interpreted as the hydrothermal fluid flow corridor.
• Magnetic Findings: Strong NNW structural trend and numerous magnetic lows aligning with known veins; mapping of fault‑hosted vein structures under cover, extending hundreds of metres north of historic drilling.
• Gravity Findings: Broad NW‑trending gravity low bounded by gradients that match basin‑bounding structures and the regional graben setting typical for epithermal deposits.
• Drill Permits: Authorizations from BLM and Idaho Department of Lands for 14 drill pads (both on federal and state‑leased land). Pads are positioned to: 1. Confirm historic shallow mineralized zones.
  2. Test untested depths beneath existing veins.
  3. Expand drilling along strike and between known zones.
• Strategic Options: Company evaluating partnerships or self‑drilling for the initial program; aims to advance Crane Creek toward a potential discovery.
• Historical Context: Prior drilling (1984‑1996) averaged 71 m depth, with only three holes >150 m; historic intercepts ranged from 2.0 g/t Au to 8.14 g/t Au in quartz veins that were never followed up.

Notable Quotes

“We are very excited about the opportunity at Crane Creek… our detailed geophysical surveys, geological mapping and reinterpretation of historical drilling demonstrate that the system is larger and more robust than previously recognized.” – Caleb Stroup, President & CEO, Headwater Gold Inc.