Hemlo Explorers Announces 2022 Recap and 2023 Outlook - Seite 2

During the 2022 summer/fall exploration season the Company significantly advanced its “Project Idaho” located 3 kilometres east of Generation Mining’s Marathon Pd-Cu deposit. The following exploration activities were completed:

• The Company flew a 321 line-kilometre VTEM and horizontal magnetic survey (Figure 1) and the VTEM survey identified two PGE-Cu targets (Idaho_A1 and Idaho_A2) the Eastern Gabbro Suite within the inferred Coldwell Complex Boundary. The survey also identified three potential VMS targets (Idaho_B1, Idaho_B2, and Idaho_C1) with Idaho_B1 and Idaho_B2 targets showing the possibility to have gold mineralization. Results from the VTEM survey show a north-south trending series of modelled plates that fall within the Coldwell Complex.
  
  
• Completed a field program of comprehensive mapping, prospecting, rock sampling, and soil sampling. The results from the rock and soil sampling programs show anomalous precious metals and pathfinder element values over areas covering VTEM anomalies and Coldwell Complex-style mafic intrusive lithologies, strongly suggesting emplacement of primary igneous magmas laden with PGE-bearing sulfides emanating from the proximal Coldwell Complex;
  
  
• Acquired and interpreted a property-wide LiDAR survey from the Ontario government that identified a confluence of concentric and radial faults, or possibly their complex intersections. This has been interpreted from LiDAR imagery supporting the geological model for emplacement of PGE-bearing magmas along conduits emanating from the Coldwell Complex; and
  
  
• Completed a confirmatory Mobile Metal Ion (“MMI”) survey to investigate correlation with the soil sampling program, the results for which remain outstanding.
  
  

Figure 1: Modelled VTEM Plates

In 2023, shareholders can look forward to the following:        

• Based upon the strength of the work completed in 2022, the Company has designed a highly prospective and targeted drill program to test areas for which VTEM anomalies are coupled with rock and soil sample precious metal anomalies as well as prominent regional faulting;
• The Company, while permitted for Project Idaho, will be submitting a revised permit application with the Ministry of Northern Development and Mines for further drilling and stripping, in an effort to continue to follow VTEM anomalies, favourable gabbroic lithological units that contain PGE and important fault structures that together signify the potential for magmatic sulfides that emanated from the neighbouring Coldwell Complex;
• The Company is in discussions with several parties with a view to option additional mineral claims to expand our portfolio of projects and provide opportunities for growth and development in highly prospective greenstone belts; and
• Continued news flow coming from the Wire Lake option agreement as Barrick continues to advance that project.

Mr. Brian Howlett, CEO of Hemlo commented, “2023 looks to be an exciting year as metal prices continue to improve and the Company has great expectations for Project Idaho and Wire Lake. We also look forward to strengthening our relationship with the Biigtigong Nishnaabeg First Nation as we move our mutually beneficial project forward.”