Acquisition Of The TJ Project in Elko County

VANCOUVER - Headwater Gold Inc. reported the acquisition of the TJ epithermal gold-silver project located in Elko County, Nevada. The project totals 775 hectares, through claim staking and an option to acquire a 100% interest in pre-existing claims from a private party. Also contains a thick accumulation of silica sinter and opaline silica with indications of multiple generations of hydrothermal brecciation and veining. Shallow historic drilling encountered intense silicification with anomalous gold, silver, and epithermal pathfinder element geochemistry. Multiple property-scale faults bisect the high-level epithermal alteration and present compelling targets with anomalous gold at surface and potential to host high-grade epithermal veins at depth. A CSAMT geophysical survey, geologic mapping and soil sampling is planned to aid in refining high-priority drill targets.

Caleb Stroup, President and CEO, said, “We are very excited to add the TJ project to our portfolio of high-quality epithermal vein targets in Nevada.  TJ meets all the criteria we look for in a compelling exploration opportunity, including a fully preserved epithermal alteration cell capped by a silica sinter.  The TJ project has many geological similarities with Headwater’s Spring Peak and Midas North projects, which are being actively drilled by the Company.  None of the shallow historic drill holes on the TJ property penetrated to the projected boiling zone where high-grade gold mineralization tends to form. The anomalous gold, silver, and pathfinder element geochemistry in the historic dataset further demonstrates the potential to host high-grade veins at depth.  Targeting work is currently under way to refine drill targets and advance the project to a drill stage.”