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Drill Results

Headwater Gold Announces Completion of Drilling Campaigns at the Lodestar and TJ Projects, Nevada

By The Northwire Desk — AI Analysis Feb 23, 2026 · 06:30 HWG · 0.65 Headwater Gold Inc.
HWG · Price

Executive Summary

  • Headwater Gold completed its 2025 drill programs at the Lodestar (≈2,950 m) and TJ (≈1,350 m) projects in Nevada.
  • All holes intersected targeted structural zones, pervasive hydrothermal alteration, and epithermal veining; assays are pending but geological observations are encouraging.
  • Both projects remain open along strike with significant alteration footprints, supporting follow‑up drilling plans once assay results are received.

Key Details

  • Lodestar Drilling (Newmont‑funded): 4 core holes + 5 RC holes; ~2,950 m total. All intersected the modeled structural target or adjacent hydrothermal alteration in the Zodiac Sinter area.
  • TJ Drilling (OceanaGold‑funded): 5 core holes; ~1,350 m total before winter shutdown. All encountered hydrothermal breccias, veining, and pervasive epithermal alteration along the East Sinter fault system.
  • Assay Status: All drill samples submitted for laboratory analysis; final results expected in coming weeks.
  • Geological Highlights – Lodestar: Confirmed a 600 m × 700 m zone of illite‑pyrite‑silica epithermal alteration open to north, south and east; shallow intercepts as shallow as 30 m.
  • Geological Highlights – TJ: Thick (up to 60 m) silicified hydrothermal breccia bodies intersected in hanging wall; epithermal veining confirmed over >500 m tested strike length; system remains open along strike.
  • Funding Structure: 100% of Lodestar drilling funded by Newmont under an earn‑in agreement (May 9 2023); 100% of TJ drilling funded by OceanaGold under an earn‑in agreement (Oct 15 2025).
  • Future Plans: Company will evaluate full assay dataset and outline follow‑up drill programs; both projects have options for Headwater to acquire 100% undivided interests, subject to royalties and partner earn‑in milestones.
  • Qualified Person: Dr. Gregory Dering, P.Geo (AIPG CPG‑12298), VP of Exploration, reviewed technical information.

Notable Quotes

“We are pleased to have successfully completed both the Lodestar and TJ drill programs… geological observations from both programs are encouraging.” – Caleb Stroup, President & CEO

Materiality Assessment: Non‑Material – Positive (operational progress with no immediate financial impact; positive exploration outlook).

Read the original news release →

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