CSE:CARM $0.025 

Heritage Project (Gold-Silver)

ONE OF NEWFOUNDLAND’S LARGEST UNDEVELOPED EPITHERMAL GOLD-SILVER DISTRICTS


Heritage Project Overview

The Heritage Gold-Silver Project is an advanced-stage exploration property located on the Burin Peninsula in southern Newfoundland, Canada. The project covers approximately 145 square kilometres (580 claims) and is held under an option agreement between Carmanah Minerals Corp. and Puddle Pond Resources Inc.

The project area is situated within the Avalonian Epithermal Belt, a region with geological characteristics shared by other mineralized systems in eastern North America. The district has seen limited historical development and exploration compared to other parts of Newfoundland.

Heritage Project (Gold-Silver) Figure 1. Map Showing Significant Gold – VMS Deposits in Newfoundland
Figure 1: Map Showing Significant Gold – VMS Deposits in Newfoundland

Historical Work

Exploration on the Heritage Project has included over 100 drill holes, soil sampling, trenching, and both ground and airborne geophysics. These efforts have delineated multiple mineralized zones, the most advanced being the Eagle Zone.

Eagle Zone (Historical Estimate – Not NI 43-101 Compliant):

  • 1.08 million tonnes grading 2.19 g/t AuEq

  • Estimated 76,074 oz AuEq

  • Based on a cut-off grade of 0.8 g/t AuEq


Selected Historical Drill Highlights*:

  • 32.30 m @ 1.89 g/t AuEq

  • 9.95 m @ 5.19 g/t AuEq

  • 6.55 m @ 4.73 g/t AuEq

  • 0.15 m @ 10,516 g/t Ag (3,381 oz/t Ag)

Additional assays include zinc up to 7.5% and lead up to 3.05% in select intervals.

*These results are from work conducted prior to Carmanah’s involvement and are not classified under current NI 43-101 standards.

Heritage Project (Gold-Silver) Figure 2 The Heritage Project is Located in the Avalonian Epithermal Belt a major Gold Producing District of Eastern North America
Figure 2: The Heritage Project is Located in the Avalonian Epithermal Belt, a major Gold Producing District of Eastern North America

Project Location

  • Province: Newfoundland and Labrador, Canada

  • Region: Burin Peninsula

  • Access: The project area is accessible via public roads and local infrastructure supporting exploration and development activities.

 

Technical Summary

  • Geological Setting: Avalonian Epithermal Belt

  • Primary Commodities: Gold, Silver

  • Secondary Commodities: Zinc, Lead

  • Target Type: Low-sulphidation epithermal systems

  • Land Package: 580 mineral claims (~145 km²)

Exploration Status

Carmanah Minerals has disclosed its intent to carry out exploration on the Heritage Project. Work programs and results are subject to disclosure through future technical filings and news releases. Any additional information will be made available in accordance with regulatory requirements.

Disclosure
The technical information presented on this page is sourced from the Carmanah Minerals news release dated February 24, 2025. The historical resource estimates referenced are not compliant with current NI 43-101 reporting standards and should not be relied upon for investment decisions. Carmanah Minerals has not yet completed sufficient work to classify the historical estimate as a current mineral resource or reserve.