Jupiter is a 100%-owned, potential district-scale epithermal gold project located in the southern Walker Lane belt. The Project covers a large, well-preserved mineral system with demonstrated gold mineralization and multiple untested priority targets.

Highlights:

  • Earn-In Agreement: Headwater has entered into a new earn-in agreement with Newmont on the Jupiter Project, under which Newmont may earn up to a 75% interest through staged exploration expenditures totalling US$30,000,000 and delivery of a Pre-Feasibility Study;
  • Firm Minimum Commitment: The Agreement includes a minimum funding commitment of US$2,500,000 in exploration expenditures over the first 24 months;
  • Potential District-Scale Epithermal System: Jupiter comprises of an approximate 5 by 8-kilometre hydrothermal alteration footprint with limited historical drilling confirming gold mineralization and multiple untested priority drill targets;
  • Expenditure Reimbursement: The agreement includes the reimbursement to the Company for US$250,000 in expenditures incurred on the Project prior to the Agreement; and
  • Expanded Partnership: The Agreement adds a third Headwater project to the Company’s continued exploration relationship with Newmont, alongside the Spring Peak and Lodestar projects.