investors
Investment Opportunity
The Next District Scale Discovery
in NW Ontario, Canada
District Scale Projects:
- Drayton Black Lake – 15,257 Ha (Au, Au-Ag, Au-Cu)
- Contact Bay – 4,640 Ha (Au, Ni, Cu, PGE)
Diversified Discovery Potential:
- +10 High-Grade Drill Ready Targets
- Excellent Access
- Most targets unadvanced since early 1900’s
Capital Structure:
- Torqued to the upside – 14% True Float (Tightly Held) with ~57M Shares outstanding
Teams Past Success – Exploration to production*:
- Côté, Sudbury, Ontario, Canada (6.58Moz Au): C$585M Cash sale in 2012, Trelawney sale to IAMGOLD – Patrick Mohan, Chairman, Jim Fairbairn, Director
- Multiple Mine Builds, Founding CEO and Director DRA Global – Wray Carvelas (Director)
- Joubi ,Val d’Or, Quebec, Canada (62kOz Au) – Mitch Lavery, P. Geo – Advisor
- Grasberg, Indonesia (Open Pit – 27 B lbs. Cu, 46MOz Au) – Stephen Hughes, P. Geo – Advisor)
* See Appendix for Team Bios
| Targets | Potential Strike Length | Historical Highlights |
| Alkenore-Buffalo Zone 3 (Never Drilled Post 1936/37) | +2.5km | •Estimated ore shoot of approximately 70,000 tons 0.24 oz Au/ton (1980) |
| Alkenore-Buffalo Zone 10 (Never drilled) | +2.5km | •Very strong surface indications with multiple high-grade samples. •2022/2023 include 10.8 g/t, 5.29 g/t, 3.8 g/t, 3.72 g/t, 0.75 g/t (Au). |
| Split Lake (Never Drilled post 1936/37) | +3km | •2 Compartment shaft (3 levels)
•Coarse gold n quartz veins 1936/37 historic diamond drill holes assays 3m at 16.5g/t Au. |
| Rosnel (Limited Drilling) | +4.5km | •2022/2023 grab samples up to 112 g/t Au. |
| K171 Shaft | +2.5km | •2022/2023 grab samples up to 25 g/t Au. •Mine shaft (1998 discovery), muck sample assays 318g/t Au, multiple high grade gold values in historical trenching. |
| Rognan Mine | +2.5km | •Au – Past Development (~22.2 oz Au 1900’s production) |
Regional Geologic Setting
Heritage Mining Ltd. is a public junior exploration company focused on developing Tier-1 precious and base metal assets in mining-friendly regions. The Company is listed on the Canadian Securities Exchange (CSE: HML) and the Boerse Frankfort Exchange (FRA: Y66)
Project Overview
Drayton Black-Lake – Flagship
Alcona Area: Au-Ag
Drayton Black Lake – Flagship (Au, Au-Ag, Cu)
- ~15,257ha; along trend of treasury metals’ goliath complex
- Rainy River-Dryden-Sioux Lookout Gold District
- Significant exploration history, over 176 holes drilled
- Historic holes hit high grade Au and/or Cu mineralization
- 2/4 priority areas (drilled 2023 q3/q4), advanced to phase II
- Six additional high-grade targets advanced to drill ready
- 2022/2023 program supports early indications of low-grade au-ag mineralization
- +90 years of data never compiled until now
Mineralization Styles
Orogenic lode gold, VMS base metal mineralization
Location
Well-developed infrastructure, road access to projects
Easy access year-round, abundant water for drilling
Established Mining Jurisdiction
Mature mining district of Ontario, low geo-political risk
| Target | Access | Potential Strike Length | Historical Highlights | Possible Relation To | Past Work | Recent Work |
| Alkenore-Buffalo Zone 3 | Excellent | +2.5km | •D.D.H 4 30ft mineralized at 9ft, 14ft averaged 0.27 oz/ton, 28ft section at 90ft (0.10 to 0.86 oz/ton, section above valued at 0.25 oz/ton (True width 8.3 ft) (1936) •D.D.H 5 6′ strongly mineralized average .21 oz/ton over 5.1ft (V.G) (1936), •Estimated ore shoot of approximately 70,000 tons 0.24 oz Au/ton (1980) | Alkenor Buffalo Zone 10 (supported by geophysics) | Trenching & Estimate of ore shoot (1980’s) , Diamond Drilling (1936/37). | Grabs, Mapping, Property-wide Airborne Geophysics (2022/2023) |
| Alkenore-Buffalo Zone 10 (Never drilled) | Excellent | +2.5km | •Very strong surface indications with multiple high-grade samples. •2022/2023 include 10.8 g/t, 5.29 g/t, 3.8 g/t, 3.72 g/t, 0.75 g/t (Au). | Alcona and/or Split Lake (supported by geophysics) | Trenching (1980’s) | Grabs, Mapping, Property-wide Airborne Geophysics (2022/2023) |
| Split Lake (Never Drilled post 1936/37) | Excellent | +3km | •2 Compartment shaft (3 levels)
•Coarse gold n quartz veins 1936/37 historic diamond drill holes assays 3m at 16.5g/t Au. | Alkenore Buffalo Zone 10 (supported by geophysics) | Trenching, Diamond Drilling Exploration/ Mine Shaft (1935-1937) | Grabs, Mapping, Property-wide Airborne Geophysics (2022/2023) |
| Rosnel (Limited Drilling) | Excellent | +4.5km | •2022/2023 grab samples up to 112 g/t Au. •A parallel deformation zone to the north of the Moretti Deformation Zone and adjacent to the Botsford Iron Formation. | Moretti (supported by geophysics) | Diamond Drilling (1970’s) | Grabs, Property-wide Airborne Geophysics (2022/2023) |
| K171 Shaft | Excellent | +2.5km | •2022/2023 grab samples up to 25 g/t Au. •Mine shaft (1998 discovery), muck sample assays 318g/t Au, multiple high grade gold values in historical trenching. •Drilling in 2006 and 2008 had positive results, identifying multiple gold-mineralized horizons which are open in all directions. | McCombe and Wright-Hargreaves (supported by geophysics) | Mine Shaft Discovered (1998), Geophysics (ground mag and EM) 1998-1999, Mapping 2004, Diamond Drilling 2006, Geophysical Modeling interp.(2017). | Grabs, Property-wide Airborne Geophysics (2022/2023) |
| Wright-Hargreaves | Fair | +2.5km | •2022/2023 multiple grab samples over 1g/t Au (1.405 g/t Au, 1.65g/t Au, 1.27g/t Au, 1.27g/t Au, 1g/t Au). Multiple vein sets with significant strike length extension potential. Historic diamond drilling interacting gold mineralization up to 0.6g/t Au over 6.5m | McCombe and Shaft (supported by geophysics) | Geophysics (Airborne & Ground), grabs, mapping, trenching, diamond drilling (1948-2013) | Grabs, Mapping, Property -wide Airborne Geophysics (2022/2023) |
Contact Bay – (Au, Cu-Ni-PGE)
- 100% owned 4,640Ha; Adjoins Kinross Gold
- Rainy River-Dryden Gold District
- Au – Past Development (~22.2 oz Au 1900’s production)
- Cu, Ni and PGE mineralization in historic short holes
- 4 Priority Target Areas (2023 Program)
- Significant exploration upside
- 2023 program confirms base and precious metals and two large magmatic anomalies
Mineralization Styles
Orogenic Lode Gold and Ultra Mafic Base Metal Mineralization
Location
Well-developed infrastructure, road access to projects
Established Mining Jurisdiction
Mature mining district of Ontario, low geo-political risk
Contact Bay – 2023 Program Highlights
Two Cu-Ni-PGE Target Areas
Contact Bay – 2023 Program Highlights
High-Grade Au, Cu, Ni and PGE Prospects
