Heritage Mining is a junior mineral exploration company focused on its flagship district-scale Drayton-Black Lake property in northwestern Ontario.
The Vancouver-based company’s executive team has over 100 years of collective experience in the industry as they continue to focus on acquiring and developing Tier-1 advanced-stage precious and base metal exploration projects located in mining-friendly regions.
Joining us today to dig into that a little more is Heritage Mining President, CEO and Director Peter Schloo.
Peter, welcome back to the Market Herald.
TMH: To start with, give us an update on how things are progressing at your flagship Drayton-Black Lake Project. What’s the latest?
PS: So, we’re really poised for discovery here. I mean, the team did a great job in 2022, identifying broad high-grade intercepts versus the historically narrow high-grade intercepts. Two of the areas have been drilled out, so we look forward to hopefully extending down the broad intercepts this year. Still, it’s just been a fantastic run in terms of exploration progress given the short window we had and coming into the new year of 2023, we’re undervalued relative to our peers. I know that the sector’s still undervalued, although where everybody’s getting a bit more excited about the junior gold exploration space, but relative to our peers, which is on the website, anybody can have a look at that, we’re really poised for a nice pop. We still remain well-capitalized and our share structure remains one of the tightest in our peer group. So it’s been a fantastic start to the year.
TMH: We’re into 2023 now, what are you hoping to accomplish this year?
PS: What we want to do is we want to expand on our Alcona, our three advanced targets. So, Alcona, New Millennium and our Moretti area, as well as develop new targets. I mean, it’s important to note this is a very big property, and there are three advanced targets with three deposit potentials, we’re right beside Treasury Metals. So having another scalable deposit like that is not too far out of the question, given the economic grades at surface. We just got to find the volume through some drilling. So, what you can expect is a great drill program in a phased approach. We all got to watch the capital in the sector here and make we make our dollars work for our shareholders. So, we look forward to advancing from a drilling perspective and then some systematic exploration to develop new targets as well.
TMH: Piggybacking on that for a second, we have seen a lot of market uncertainty, what are you expecting the gold exploration sector to do in the short term?
PS: Good question. I think when we started from a public company issuer standpoint in August, I think was probably one of the tougher markets that we’ve been in in the last few decades possibly. Over the summer, there were no bids, a very low volume. I’m starting to see the volume pickup, especially in our peer group. We’re starting to see the volume and some more attention. So, people are starting to buy, starting to get more traction in our area. What I’m speaking about that I’m only speaking about, we compare ourselves to call it 30 companies, junior exploration gold companies in Ontario. So that’s my reality where I’m focusing on, I think the sector as a whole, from a risk capital allocation standpoint, I think every other high-risk capital sector is done, and everybody’s tried their crack at the bitcoin, marijuana, psychedelics, et cetera. I think it’s time for us. I think we’re sharing the demand with some lithium and precious metals, but I think gold is a fantastic spot, and it’s time to get back to the classics.
TMH: Is there anything else we haven’t touched on that is important for our viewers and your investors to know?
PS: I think it’s a fantastic time to really take a deep dive into Heritage Mining. I think we had some selling pressure, obviously, from the IPO through to the end of December. I think what’s important is from a tax loss selling rule, with 30 days past December 28th is really when everybody can start buying back in if there was tax loss selling, and, in my opinion, I think there is. So, there is a really nice window here in the next couple of weeks to really look at the story, understand it and feel free to reach out and have a look, but we are undervalued. We’re poised for discovery across three areas at surface, high-grade gold and silver at surface, similar to Treasury Metals from a ratio perspective. So we’re almost as good as it gets in Ontario, and I think it’s a very interesting story.
Peter, thanks for joining us at The Market Herald today and sharing your insights with our Top Line audience and your investors.
We’ve been speaking with Heritage Mining President and CEO Peter Schloo.
The company trades on the Canadian Securities Exchange under the ticker symbol HML. You can visit them at heritagemining.ca for more information.
Thanks for watching Top Line. In Vancouver, I’m Simon Druker. We’ll see you next time.
FULL DISCLOSURE: This is a paid article produced by The Market Herald.