Mr.
Peter Schloo reports
HERITAGE MINING ADVANCES DRAYTON BLACK LAKE PROJECT WITH NEAR-TERM CASH FLOW POTENTIAL FROM 1930S ROCKPILES
Heritage Mining Ltd. has provided an exploration update, exploring the opportunity for near-term cash flow from historical tailings/rockpiles in the immediate vicinity of historical mine shafts at the Alcona mine and Split Lake mine at the Drayton-Black Lake (DBL) project, located in Northwestern Ontario, Canada. Phase 1 exploration of historical mine shaft area includes a review of historical documentation, field sampling and measurement of historical rock piles. Sampling and approximate volume calculations of old rock piles have been completed, with assays submitted to the lab at the time of this press release. The company has also initiated discussions with a nearby fully permitted mill currently in the final stage of construction as a possible processing option in the future.
Alcona mine historical rock pile exploration highlights:
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Historical findings supporting rock pile exploration:
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June 19, 1933 -- experimental tests on a sample of gold ore pile at Alcona mine:
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200-pound sample resulted in the following results: 91.43 grams per tonne gold, 311.31 grams per tonne silver, 0.43 per cent copper, 3.10 per cent lead, 0.50 per cent zinc, 5.10 per cent iron and 5 per cent sulphur;
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No historical sampling of waste pile;
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Measured volume of approximately 40,000 tonnes of mining waste pile;
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30 samples have been collected from this rock pile and submitted for assays.
Split Lake mine historical rock pile exploration highlights:
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Historical findings; five samples taken from rock dump ranged from trace to 1.56 grams per tonne gold;
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Measured volume of approximately 5,500 tonnes from mining waste pile;
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26 samples have been collected from this rock pile and submitted for assays.
Note: All ore/rock pile sampling has been submitted for gold assays. All volume calculation are approximate in nature; calculation and area are driven by historical reports and field verification. Field verification techniques include GPS (Global Positioning System) co-ordinates and field measurements.
"With the price of gold near all-time highs, the mystery of these two historical mines with no production numbers but high-grade historical intercepts combined with positive early discussions with a nearby fully permitted mill near construction completion has supported a phase 1 program to assess the possibility of near-term cash flow," commented Peter Schloo, president, chief executive officer and director of Heritage Mining.
Qualified person
Mitchell Lavery, PGeo, strategic adviser for the company, serves as a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
About
Heritage
Mining
Ltd.
The company is a Canadian mineral exploration company advancing its two high-grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou greenstone belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.
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