Mike Fagan,
Editor
June 12, 2025
Headwater Gold Inc. (CSE: HWG)(OTC: HWAUF) — currently trading around C$0.25 per share in a near record gold market — just revealed a new outcropping gold vein system at the Doug target, part of its Spring Peak project in Nevada.
The Spring Peak project is being fully funded by Newmont Corp. (NYSE: NEM; ~$58B market cap) under an existing earn-in deal, providing Headwater shareholders leveraged upside without dilution.
With a ~C$20 million market cap, Headwater Gold is focused on discovering high-grade gold systems across the Great Basin region of the western United States through the advancement of its robust portfolio of 100%-owned and Newmont-backed projects. Two such properties — Spring Peak and Lodestar — are under active earn-in agreements with Newmont.
The newly discovered Doug target sits 9 km north of Headwater’s high-grade Disco Zone and lies along the same regional-scale Bear Fault — a structure that has proven critical to mineralization in the district.
This is the first time Headwater has confirmed in-situ high-grade quartz veins at surface in this northern corridor. Rock chip highlights include:
- 21.8 g/t gold
- 9.52 g/t gold
- 7.82 g/t gold
The surface exposure at Doug occurs within a rare erosional window where favorable host rocks are revealed through thin post-mineral cover, suggesting potential for a well-preserved high-grade epithermal vein system at depth.
Headwater Gold CEO Caleb Stroup commented on the newly discovered mineralization at Doug via press release:
“The newly identified outcropping epithermal quartz veins with high-grade gold values at the Doug target provide a compelling indication of the scale and preservation of the mineral system along the Bear Fault corridor within the expanded Spring Peak project.”
“This sampling marks the first confirmation of in-situ epithermal veins at the Doug target, following previously reported widespread mineralized vein float along the northern extension of the Bear Fault corridor. The Bear Fault corridor hosts our high-grade Disco Zone discovery and is interpreted as a district-scale structure that extends beneath cover for several kilometers before daylighting in a limited area at Doug.”
“The high-grade gold values sampled here reinforce our view that this corridor and the entire area between the Aurora and Borealis mines, has the potential to host multiple significant mineralized zones. Headwater now controls over 12 km of strike extent in this well renowned epithermal district and looks forward to advancing these targets along with our partner Newmont to further uncover the full potential of the Spring Peak project.”
The Doug zone sits along the Bear Fault, which also hosts the Disco Zone discovery. Notably, previous drilling at Disco intersected 2.73 g/t gold over 34.72 meters, including 15.92 g/t over 2.38 meters.
Between Doug and Disco lies a large, untested segment of the Bear Fault concealed under shallow cover. Current mapping efforts aim to better define this corridor and refine follow-up drill targets.
Doug’s emergence coincides with a significant expansion of Headwater’s land position, now covering more than 15 km of strike along the productive Bodie-Aurora-Borealis trend. The company has added 509 claims, securing ground adjacent to historic producers including:
- Aurora (1.9 Moz Au)
- Borealis (0.8 Moz Au)
- Bodie (1.5 Moz Au)
Headwater has also completed a suite of geophysical surveys — including gravity, CSAMT, airborne magnetics, and radiometrics — across the Spring Peak-Lodestar corridor with data now being interpreted to help guide future drilling.
Importantly, Newmont is funding all the work through Pre-Feasibility with Headwater retaining a 25% stake and a 2% NSR.
With catalysts stacking up — and a deep pocketed partner footing the bill — this under-the-radar junior offers strong potential upside as next phase drilling approaches across a 15 km trend in one of Nevada’s premier gold corridors.
Something a little different today. Our own Gerardo Del Real of Junior Resource Monthly jumped on the opportunity to sit down with none other than renowned economic geologist Mr. Brent Cook of Exploration Insights fame to discuss the 2025 metals bull market, Headwater Gold, and much more. Please enjoy!
For additional information on Vancouver-based Headwater Gold, be sure to contact Brennan Zerb at the company’s IR department at 778-867-5016 or via email at bzerb@headwatergold.com.
Sign up to receive updates directly from Headwater Gold here. View the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Headwater Gold
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