(TheNewswire)
Vancouver, British Columbia / TheNewswire / December 14, 2017 - Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) is pleased to announce that the permitting process to conduct a 3,000 m diamond drilling exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico is underway. The drill program is anticipated to include up to 30 holes from 50 to 300 metres in length and will require approximately 45-60 days to complete.
The Cerro Cascaron project covers 69 square kilometres in a historic Colonial-era mining district in the prolific Sierra Madre Occidental (“SMO”) precious metals belt of western Chihuahua State. Harvest Gold has the right to earn up to an 80% interest in Cerro Cascaron from Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) by incurring certain exploration expenditures, making cash and share payments and delivering a 43-101 compliant feasibility study.
Harvest Gold’s President and CEO Rick Mark states: “Recently a meeting of the Harvest Gold/Evrim Resources geological team was held in Vancouver. Priority drill targets were selected in both the main Cascaron gold vein field and the silver-rich Cascarita prospect. With the knowledge gained from the fall 2017 Phase 1 exploration program, which included rock and soil sampling results, geologic mapping and adit sampling results, we have a high level of confidence in our targeting and are looking forward to having these high priority targets tested. Our Joint Venture partner expects the drill permitting process to be complete by the end of January.”
Cerro Cascaron Phase 1 Exploration Highlights
-Soil sampling defined 1.8-kilometre-long gold – rich vein corridor extending north and east of the Julieta and Serpiente Dorada veins and includes a sample that assayed 1.38 grams per tonne (g/t) and is a high priority target for drill testing
-Soil sampling extended all veins by 600 to 1,800 metres in strike length
-Mapping following soil sampling defined new veins (El Salto and El Tascate) within the Cascaron vein field with a total of 16 veins now identified in the vein field
-Sampling of adits at the Cascarita silver/polymetallic showing returned five channel sample cuts with widths of 1.4 to 3.3 metres that grade between 231 and 542 g/t silver equivalent*
-Six sub-parallel veins were defined over an area of 300 metres x 900 metres in silver rich Cascarita area
About the Cerro Cascaron Project
The Cerro Cascaron property hosts a low to intermediate sulphidation epithermal gold bearing system and includes a high-grade gold vein field measuring approximately 18 square kilometres in area on the eastern third of the property. Veining has been mapped on a cliff face for over 900 vertical metres, with classic textural evidence of multiple phases of hydrothermal boiling accompanying the highest gold grades. These boiling zones have been established in the upper 380 metres of the vein field. Beneath the boiling zones, silver- and base metal-rich veins and breccias provide additional exploration targets.
Cerro Cascaron’s setting and mineralization is similar to many epithermal deposits in the Sierra Madre Occidental, including Fresnillo PLC's La Cienega Mine in Durango, Goldcorp’s past producing El Sauzal gold mine and further south, First Majestic’s San Martin de Bolanos silver mine in Jalisco State. The property is approximately 55 kilometres southeast of Goldcorp Inc.’s past-producing El Sauzal gold mine and is one of the few unexplored and undrilled opportunities in the region.
Readers should refer to Evrim’s press releases dated June 8 and August 17, 2016 and Harvest Gold press releases dated June 8 and 15 and October 5 and 18 and November 27, 2017 for a full description of previous exploration results.
Quality Assurance/Quality Control
Mr. Warren Bates, P. Geo (APGO#0211), the Company’s Director of Property Investigation, is the Qualified Person for this press release for the purposes of National Instrument 43-101, and has reviewed and approved the technical information herein.
Evrim Resources has advised that their quality control procedure is as follows: Samples were delivered to ALS Global in Hermosillo, Sonora for sample preparation and to the ALS laboratory in North Vancouver for analysis. The Hermosillo facility has ISO 9001:2008 certification while the North Vancouver facility has ISO/IE 17025:2005 certification. Blank soil samples were inserted into the sample sequence at a frequency of one per 40 samples. Samples were assayed for gold by 30 gram fire assay and multi-element analysis by aqua regia and ICP analysis.
About Harvest Gold
Harvest Gold is a gold-focused mineral exploration company with an experienced board of directors and management whose collective geological and financing experience exceeds 200 years. Harvest also holds three fully registered mineral concessions on properties in the Republic of Suriname: the Goliat-Tibiti, Gonini River and Oelemari concessions.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company is well financed, has a diverse range of quality projects and a database in Mexico and portions of the southwestern United States. The existing projects, and generation of quality exploration targets and ideas, are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim’s business plan also includes royalty creation utilizing the Company’s exploration expertise and existing projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.682.2928 or info@harvestgoldcorp.com
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, 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. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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