2022 marked a year of achievements for Hemlo Explorers

Hemlo Explorers Inc. released a summary of the key accomplishments of 2022 and the company’s outlook and exploration plans for 2023.

2022 marked a year of achievements for Hemlo Explorers.  The following are among the achievements accomplished over 2022.

In January 2022, the Hemlo Explorers announced an option agreement with First Energy Metals Ltd. to option a block of its non-core lithium claims in Northwestern Ontario. The agreement called for total payments in cash of $75,000 and 600,000 shares of First Energy. On October 26, 2022, FE Battery Metals Corp. (formerly “First Energy”) elected to accelerate their option and completed all required payments.

In April 2022, Hemlo Explorers announced a binding Letter of Intent was signed with Barrick Gold Inc. , a wholly-owned subsidiary of Barrick Gold Corporation, for an option on 916 claims (~16,000 hectares) of the Pic Project, including the highly prospective 2.7-kilometre-long Wire Lake gold trend, where gold has been identified through surface sampling and shallow diamond drilling. The option allows Barrick to earn an 80% interest in the claims by delivering a Prefeasibility Study within six years. Barrick must spend $800,000 in the first year and $1,000,000 each year thereafter for the duration of the agreement. Barrick can extend the option period for a further 2 years by paying the Company $500,000 for each one-year extension.

In August 2022, the company signed the definitive agreement with Barrick on the same terms as outlined in the binding LOI and Hemlo Explorers also closed a private placement financing with Barrick, issuing 1,841,468 common shares priced at $0.1052 per common share for gross proceeds of $196,722.

In September 2022, the Hemlo Explorers announced a landmark deal with Biigtigong Nishnaabeg First Nation that saw the company agree to transfer a contiguous package of 312 cell claims formerly known as Hemlo West to a subsidiary of BNFN. At the same time, Hemlo Explorers and BNFN signed a mutually beneficial exploration agreement that will underpin all future exploration. Shortly after the completion of these crucial steps, the Ontario Ministry of Northern Development and Mines issued a three-year exploration permit for the company’s Project Idaho.

During the 2022 summer/fall exploration season the Hemlo Explorers significantly advanced its “Project Idaho” located 3 kilometres east of Generation Mining’s Marathon palladium-copper deposit. Hemlo Explorers completed the following exploration activities:

The company flew a 321 line-kilometre Versatile Time Domain Electromagnetic  (VTEM )and horizontal magnetic surveys. The VTEM survey identified two platinum-group elements (PGE)-copper targets (Idaho_A1 and Idaho_A2) and at 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.

The company also 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.

Hemlo Explorers 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. LiDAR (Light Detection and Ranging) is a method of measuring and examining the surface of an open pit mine or a pre-mining location using LiDAR sensors attached to drones. Lasers continually scan the surface, measuring the time it takes for the light to bounce off the earth and back to the sensor.

The LiDAR imagery supports the geological model for emplacement of PGE-bearing magmas along conduits emanating from the Coldwell Complex.   A the results of confirmatory Mobile Metal Ion (“MMI”) survey investigating the correlation with the soil sampling program are still outstanding.

Based upon the strength of the work completed in 2022, the Hemlo Explorers 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.

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.”

While the Project Idaho is permitted for exploration work, Hemlo Explorers 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 its portfolio of projects and provide opportunities for growth and development in highly prospective greenstone belts. 

Adrian Bray, P.Geo., Exploration Manager for the Company, is the “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for the accuracy of technical information contained in this news release.

About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area, including Project Idaho, the Pic and North Limb Projects.

Through acquisitions and staking programs, Hemlo Explorers has assembled a large land package totaling 380 square kilometres of prospective mineral rights in the Hemlo-Schreiber Greenstone Belt. The Hemlo Camp is famous for hosting the Hemlo Deposit, with historical production of more than 22 million ounces of gold since 1985, and remains in operation at the Williams Mine operated by Barrick Gold Corporation. 

For more information please contact:

Brian Howlett, President & CEO
Hemlo Explorers Inc.
brian@hemloexplorers.ca
1-647-227-3035
http://www.hemloexplorers.ca

Tags: Northern Ontario / Exploration / Gold / All Articles