TORONTO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to provide the following exploration update.
- The high grade Sugar Zone South discovery continues to expand. Current mineralized extent is 300 meters along strike and 200 meters down dip and remains open in both directions.
- Recent mineralized intersections in the Upper Zone areas of Sugar Zone South have returned up to 23.59 g/t over 2.02 meters.
- Step out drilling continues to define the size of Sugar Zone South. The Company expects to incorporate this new zone in an updated mineral resource estimate by the end of this year.
- New mineralized discoveries at the Flat Lake and TNT Zones have returned gold and base metals values (copper, zinc and molybdenum) along a combined trend in excess of 10 km. No previous diamond drilling has been conducted in these areas. Geophysical surveys and drill programs are now being planned.
- At Flat Lake and south to the TNT Showing, gold, zinc and copper values of 253 ppb, 0.79% and 0.69% respectively have been discovered over significant widths.
Stephen G. Roman, President and CEO, commented, “The Company is excited by the scale of the combined Flat Lake and TNT zones, in both strike and width. These areas show a significant presence of sulphides, indicating the potential for a large mineralized system.”
Near Mine Drilling – Sugar Zone South
A new high grade zone is presently being delineated and is currently 300 meters on strike at 200 meters down dip. It remains open in both directions. Drilling continues on this target area to define resources. Please see results below:
|Hole #||From||To||Grade (g/t Au)||Width (m)|
(core intersection lengths approximate 80% true width, assay results are uncut, fire assay with metallic screen on samples >10 g/t)
Property Wide Exploration
Significant mineralization has been identified in two new areas, locally known as the Flat Lake and TNT Zones. Both of these Zones occur at the north end of the Sugar Zone property approximately 18 km northeast and 12 km north, respectively, from the Sugar Zone Mine site.
At Flat Lake, the “West Lake Showings” have several mineralized outcrops consisting of altered mafic and minor ultramafic volcanics which are interbedded with mineralized iron formation and cut by several altered feldspar porphry and gabbro dykes/sills. Many of the outcrops host several narrow (<10-15cm) mineralized quartz veins. Anomalous gold values up to 110 ppb were obtained from limited rock sampling conducted in the area indicating gold mineralization is present within the altered-mineralized rocks in the Flat Lake area. ICP results are pending for this area.
At the TNT Zone three altered-mineralized showings were identified along a 4.0 km anomalous trend. Based on airborne EM-magnetics this anomaly appears to consist of two separate but parallel EM-magnetic horizons. The TNT showing consists of highly altered mafic volcanics with strong silica flooding and quartz veining. Up to 30% sulphides are present which consist of pyrite, pyrrhotite, lessor chalcopyrite, molybdenum and sphalerite. Showing “A” consists of altered mafic volcanics and altered feldspar porphyries which look similar to the rock types encountered in the Flat Lake area, in particular, the strong muscovite-sericite alteration, up to 10-20% quartz stringers and 1-3% pyrite-pyrrhotite (py-po). “Showing B” consists of sheared and altered mafic volcanics with 10% quartz veining and 1-2% py-po. The “TNT Showing” and “A Showing” are coincident with EM and magnetic anomalies while “Showing B” is associated with a magnetic low which may suggest the presence of an altered-mineralized zone where there has been magnetite destruction. Showings “A” and “B” are located 1.0 km and 1.8 km northeast of the TNT Showing, respectively.
Anomalous gold values ranging from 16 ppb to 40 ppb to a high of 253 ppb (Showing B) have been obtained from rock sampling collected along the 4.0 km anomalous trend identified by geophysics and the Maximos AI technology. In addition, at the TNT showing, rock samples show strong zinc values up to 0.79%, copper values up to 0.69% as well as molybdenum similar to the Hemlo area. ICP results are pending for the Showing A and B areas, however, similar base metals values are expected as similar altered-mineralized rocks types were discovered in each of the three areas.
Combined, the Flat Lake and TNT Zones represent a previously unknown altered and mineralized horizon with anomalous gold and base metal values which occur along a strike length in excess of 10 km. No previous diamond drilling has been conducted on this trend to date. Additional geophysical surveying, prospecting and drilling are planned for these exciting new discovery areas.
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 located in Thunder Bay, ON, while the other half is retained at the Company’s core facilities in White River, ON, for future verification. Channel and Chip samples were sent to Wesdome Mines lab in Wawa, ON. 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. Gold analysis is performed by fire assay using atomic absorption, gravimetric or pulp metallic 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 is Ontario’s newest gold producer through 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:|| |
|Stephen G. Roman||Shawn Howarth|
|President and CEO||Vice President, Corporate Development|
|Tel: 416-368-0999||Tel: 416-368-0999|
|Email: firstname.lastname@example.org||E-mail: email@example.com|
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, 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. Statements in relation to "reserves" or “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves or resources described may be profitably produced in the future.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this document 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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Source: Harte Gold Corp.
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