Announcement of LIFE Package by Heritage, Plus Corporate and Exploration Updates Reported
Heritage Mining Acquires Majority Stake in Historic Melba Mine in Ontario's Kirkland Lake Gold District
Heritage Mining Ltd., a growing mining company, has announced its acquisition of a 75% interest in the historic Melba Mine, located in the prolific gold mining region of Ontario, Canada. The acquisition, subject to certain conditions, marks Heritage Mining's entry into the Kirkland Lake Gold District [1][2][3].
The Melba Mine, a former producer from the early-mid 1900s, is nestled in Northwestern Ontario. In 1936, Melba Gold Mines Limited drilled 20 diamond holes that intersected the Blue Vein, with visible gold reported in 10 of the first 18 holes. More recently, the 2025 drill program at Zone 3 Extension targeted granite-hosted mineralised quartz-vein structures. Two holes, HML25-011 and HML25-013, intersected a well-developed quartz vein structure [3].
Assays for HML25-010 & 011 confirm locally elevated gold values in the vein structure, with the best intersection of 0.95g/t gold over 1m in drill hole HML25-011. HML25-013 intersected a 74m wide vein structure. Drill hole RGN25-004 also intersected visible gold in a quartz-pyrite vein [3].
Assays are pending for HML25-013 & 014, as well as for all holes at Contact Bay. The Contact Bay drill program, which has been completed, targeted a mineralised quartz-vein structure historically mined in the early 1900s. Visible gold was observed on one drill hole, RGN25-004 [3].
The acquisition is subject to customary conditions precedent for a transaction of this nature, including the approval of the Canadian Securities Exchange. Heritage Mining has also announced a non-brokered offering of up to 18,187,725 units for gross proceeds of up to C$636,570, likely to support this acquisition and exploration efforts at Melba Mine [1][3].
Interestingly, 2,000 tonnes of "mined material" from underground workings that are on surface and with a complementing mining lease are available at the Melba Mine. In 1939, The Teck-Hughes Mines Limited channeled and took a 4-ton bulk sample over 60 feet on the Blue Vein, giving 10.327 ounces gold per ton over 4.5 feet, and the bulk sample gave 0.210 ounces gold per ton [3].
Heritage Mining entered into an asset purchase agreement with Advanced Gold Exploration Inc. to acquire a 75% interest in the Melba Mine. The purchase is still pending satisfaction of certain conditions precedent, including technical and possibly regulatory requirements, indicating that the acquisition is not yet fully finalized [3].
References: [1] Heritage Mining Ltd. (2025). Press Release: Heritage Mining Ltd. Announces Non-Brokered Offering [2] Heritage Mining Ltd. (2025). Press Release: Heritage Mining Ltd. Acquires 75% Interest in the Melba Mine [3] Heritage Mining Ltd. (2025). Investor Presentation: Heritage Mining Ltd.
- The acquisition of the Melba Mine by Heritage Mining, a growing mining company, presents opportunities for investors in the stock market, as it marks their entry into the lucrative Kirkland Lake Gold District.
- With this acquisition, Heritage Mining aims to expand its business ventures, which may also include personal finance and real-estate investments, considering the proceeds from their non-brokered offering.
- The housing-market implications of Heritage Mining's growth in the mining sector could be significant, as increased investments in mining enterprises often influence broader economic trends.
- The Melba Mine acquisition by Heritage Mining, subject to conditions, might also attract venture-capital and private-equity firms interested in supporting strategic growth opportunities within the mining industry.
