Heritage Mining talks Drayton historical sampling
Executive Summary
- Heritage Mining reports average grades of 3.72 g/t Au from ~5,500 t of rock‑pile material at Split Lake and 0.96 g/t Au from ~20,000 t of waste at Alcona, indicating a near‑term cash‑flow opportunity.
- The fully permitted mill has confirmed willingness to process the rock piles, and additional acid‑based multi‑element testing is underway.
- Management highlights strong precious‑metal prices as a catalyst for pursuing low‑dilution capital and expects further updates shortly.
Key Details
- Split Lake Mine (rock pile):
- Sample size: ~5,500 t.
- Average grade: 3.72 g/t Au.
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All 26 samples returned gold values ranging from 0.009 g/t to ≈27 g/t Au.
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Alcona Mine (rock pile):
- Total of 30 samples taken; 20 samples graded between 0.006 g/t and 4.1 g/t Au.
- Approximate average grade on ~40,000 t of waste: 0.53 g/t Au.
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Sub‑section of ~20,000 t returned an average of 0.96 g/t Au (12 samples ranging 0.013 g/t to 4.1 g/t Au).
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Processing:
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The mill, already fully permitted, is prepared to accept the rock‑pile material pending further testing results.
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Testing underway:
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Additional acid‑based accounting and multi‑element assays are being performed on all ore/rock‑pile samples.
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Management commentary (Peter Schloo, President & CEO):
- Emphasized strong precious‑metal price environment and potential for less dilutive capital sources.
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Stated that initial grade estimates are encouraging and support continued systematic sampling.
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Qualified Person: Mitchell Lavery, P.Geo., strategic adviser, reviewed and approved the technical information per NI 43‑101.
Notable Quotes
“The price of precious metals are holding strong at their current values with macro indications of continued upward movement… Initial grade estimates from waste piles are encouraging and supported additional testing…” – Peter Schloo, President, CEO & Director, Heritage Mining Ltd.