TORONTO, Dec. 02, 2019 (GLOBE NEWSWIRE) — HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is excited to report the recent discovery of an entirely new high grade gold zone (the “TT8 Discovery”) approximately 17 Km southeast of the Sugar Zone Mine in an area previously mapped by OGS geologists as granite and not known to host gold mineralization. The TT8 Discovery is believed to be an extension of an existing known greenstone belt to the east.
- The TT8 Discovery consists of a sedimentary hosted silicified, biotite schist horizon containing the highest surface gold grades on the Sugar Zone property found to-date
- 17 chip samples across a 40 metre strike extent have returned gold values from 11.1 g/t to 247.0 g/t Au
- Harte geologists interpret TT8 Discovery as a potential extension of the Nameigos Greenstone belt to the east and its exploration potential could be significant
- The hangingwall and footwall sediments were also sampled returning gold values up to 2.64 g/t Au, suggesting the width of the mineralized zone could be significantly wider than currently uncovered
- Following this exciting discovery, the Company will focus its exploration program in this area and will commence diamond drilling to test the extent of mineralization
- Drilling is expected to start in early January, pending exploration permits
- All assay results are based on a fire assay-metallic screen finish
Sam Coetzer, President and CEO commented, “We see this as very positive news, confirming the prospective potential of the overall Harte Gold land package. The TT8 Discovery will now form the primary focus of the company’s exploration plan. Our strategy is to find additional feed sources for our processing facility and this target potentially fits this goal. I am very excited and believe our exploration team have the ability to unlock significant further value from our overall property.”
David Stevenson, P.Geo and Chief Exploration Geologist of Harte Gold noted, “This exciting new discovery has all the attributes we have been looking for on the property. It is hosted in a “Hemlo Style” sedimentary package of rocks and bears significant potential to form a part of a larger system.”
The TT8 Discovery was first identified by Harte Gold prospecting crews in late October. The TT8 Discovery currently consists of a coarse-grained heavily silicified, biotitic schist vein hosting 10% to 15% pyrite, pyrrhotite and at times 1-2% chalcopyrite. The vein varies in width from 5 cm to 30 cm and strikes approximately 30 degrees northeast and dips 20 degrees to the southeast. Initially, four samples were collected from the TT8 discovery, returning gold values of 57.6, 135.0, 141.0 and 213.0 g/t Au from the outcropping horizon.
Following these results the company mobilized a geophysical team to complete a VLF Survey and a geological team to initiate a chip sampling program to better define the extent of the mineralized structure. The 17 samples indicated below are from the chip sampling program which has exposed the zone for over 40 metres along strike.
|Metallic Screen Results From Chip Samples
|Chip Sample||Au g/t|
In addition to the mineralized vein, sampling was conducted on the hangingwall and footwall sediments. From preliminary sampling, gold values up to 2.64 g/t Au were received suggesting the width of the mineralized zone could be wider than previously expected.
A drill program comprised of 50 metre spacings is planned to initially test the down dip potential. If assay results are encouraging then additional holes will be drilled to test strike extent.
Qualified Persons and NI 43-101 Disclosure
The company has implemented a quality assurance and control (“QA/QC”) program to ensure sampling and analysis of mine and exploration work is conducted in accordance with industry standards. Drill core is sawn in half with one half of the core shipped to Activation Laboratories (Actlabs) located in Thunder Bay, ON, while the other half is retained at the Company’s core facilities in White River, ON, for future verification. Certified reference standards and blanks are inserted into the sample stream on a regular interval basis and monitored as part of the QA/QC program.
Rock chip samples follow the same QA/QC procedure as that for drill core. Gold analysis on these samples was performed by Actlabs using fire assay-metallic screen finish.
Robert Kusins, P. Geo., Harte Gold’s Senior Mineral Resource geologist, is the Company’s Qualified Person and has prepared, supervised the preparation, or approved the scientific and technical disclosure in this news release.
About Harte Gold Corp.
Harte Gold entered commercial production in 2019 at its wholly owned Sugar Zone Mine in White River Ontario. Using a 3 g/t gold cut-off, the NI 43-101 compliant Mineral Resource Estimate dated February 19, 2019 contains an Indicated Mineral Resource of 4,243,000 tonnes grading 8.12 g/t Au with 1,108,000 ounces contained gold and an Inferred Mineral Resource of 2,954,000 tonnes, grading 5.88 g/t Au with 558,000 ounces contained gold.
A NI 43-101 compliant Feasibility Study was completed on the Sugar Zone Mine effective February 15, 2019 calculating total Reserves of 3,879,000 tonnes grading 7.1 g/t Au with 890,000 ounces of gold. Exploration continues on the Sugar Zone Property, which encompasses 79,335 hectares covering a significant greenstone belt.
For further information, please contact:
President and CEO
Vice President, Corporate Development
E-mail: [email protected]
This news release includes “forward-looking statements”, within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, there being no events of default or breaches of key financing agreements, including agreements with BNP Paribas and Appian; the Company being able to attract and retain qualified candidates to join the Company’s management team and Board, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by the Company. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.
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