Headwater Gold (CSE:HWG) reports partner Centerra Gold (TSX:CG) has commenced drilling at the Crane Creek Project in western Idaho under their earn-in agreement.
The program consists of approximately 3,000m across up to 15 reverse circulation (RC) holes and five diamond core holes.
Centerra operates and fully funds the drilling pursuant to the earn-in agreement announced on 3 December 2025.
The program represents approximately US$1.7 million ($2.46 million) of exploration expenditures towards Centerra’s US$2.5 million minimum commitment under the earn-in agreement.
President and CEO Caleb Stroup says the program represents the “first major test” of the project under the partnership.
“Prior explorers identified gold mineralisation at Crane Creek, including localised high-grade epithermal vein intercepts, but historical drilling was shallow and potential deeper epithermal vein targets were largely untested,” Stroup says.
“The current program is designed to follow up shallow mineralisation identified with historical drilling, test below known vein-controlled mineralisation, and step out along strike and between zones.”
The RC portion tests multiple prospective targets across the project, including areas of known historical mineralisation, along-strike extensions, and newly defined structural targets.
Meanwhile, the diamond core holes aim to verify historical intercepts and provide geological information about the relationship between gold mineralisation and the underlying basalt unit.
Under the earn-in agreement, Centerra may earn up to a 70% interest in the project through staged exploration expenditures and technical milestones.
Centerra has committed to fund a minimum of US$2.5 million in exploration expenditures within the first three years.
Located in western Idaho, the Crane Creek Project comprises approximately 1,240 hectares consisting of 123 unpatented federal mining claims on Bureau of Land Management land, a 640-acre State of Idaho minerals lease and a private lease.
Headwater Gold is a mineral explorer focused on precious metal deposits in the Western US.
Write to Paula Fabe at Mining.com.au
Images: Headwater Gold
