Headwater Gold Inc. announced the commencement of drilling at the 100% owned Katey project. The program is designed to follow-up on Headwater's previous discovery of high-grade epithermal mineralization in an interpreted feeder structure at the West Zone. A multi-rig, mixed RC and diamond core drill program has commenced and is expected to consist of an initial 3,500 metres over an estimated 10 to 12 holes with potential to extend the program
subject to positive results. Combining RC and core drilling is a cost-effective way to maximize the number of drill intersections and test the along-strike potential of the alteration system. Core drilling will be focused in the KT21-01 offset target area while RC will be utilized along the trace of the West Zone Fault where there is no historic drilling information. Analysis of previous drilling and surface geological and geochemical data has resulted in the
development of the following high-priority drill targets for the current year: KT21-01 Offset Target: Immediate offsets of the high-grade gold intercept encountered in diamond core hole KT21-01 (14.54 m grading 6.34 g/t Au, including 30.73 g/t Au over 1.95 m) are planned both down dip and along strike in approximate 50 m step-outs. Northern Extension Target: North of the strongly silicified outcrop where the West Zone Fault outcrops, the principal mineralized structure disappears under shallow cover but is traced by strongly anomalous auger soil samples and subsurface (auger hole) mapping, including strongly oxidized and silicified sandstone with quartz veining along the NNW trend of the West Zone Fault. Upper Flats Target: Planned holes in this area directly offset KT21-01 to the south and test the continuity of the main mineralized structure along strike. Anomalous soil geochemistry extends along the mapped trace of the West Zone Fault and includes values up to 135 ppb Au and up to 1890 ppb Ag (see news release dated February 10, 2022). Southern Extension Target: Geologic mapping completed with the aid of high-resolution drone imagery and subsurface auger mapping trace the West Zone Fault structural corridor through this area. Planned holes test this structural corridor and a splay off the West Zone Fault that correlates with anomalous soil and rock chip geochemistry.