Heritage Mining receives exploration permit for Contact Bay, Ontario
Heritage Mining Ltd. [CSE: HML; FRA: Y66] reported that the Ontario Ministry of Mines has issued the exploration permit required in connection with its 2024/2025 exploration program on its wholly owned property Contact Bay, northwestern Ontario. The program’s permitted area and focus will be to scout drill the Rognon mine area in addition to the previously planned Drayton/Black Lake exploration program on Zone 3 and New Millennium.
“Strategic capital continues to flow into the district, underscoring the immense potential of one of the last underexplored greenstone belts in northwestern Ontario, Canada. With the three key target area permits in the rearview mirror, in-house drill team on site early January, 2025, and a cashed-up 4,000-metre program, we are well positioned to execute all phase 1 initiatives for our 2024/2025 exploration program, finishing the year on a strong footing.
“Further to Heritage Mining fully funded 4,000-metre drilling program, approximately 2,100 metres is allocated to a targeted phase 1 continuation program, with the remaining allocated to follow-on drilling. Preparations are under way to push a trail into the Rognon mine area before year-end, all other target areas are drill ready, and we look forward to mobilizing early in the new year.
“This year has marked an unprecedented alignment of technical and capital market strengths for Heritage Mining Ltd. I look forward to updating the market on our exploration progress in short order,” commented Peter Schloo, president, CEO and director of Heritage.
Heritage Mining is 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. The company is well capitalized, with a tight capital structure.