Harvest Gold and Evrim Resources Complete Drilling at Cerro Cascaron

2019-03-19 / @thenewswire

(TheNewswire)

Vancouver B.C. / TheNewswire / March 19, 2019: Harvest Gold Corporation (“Harvest Gold” or the “Company”) (TSX.V: HVG), is pleased to announce final drill results at the Cerro Cascaron gold and silver project in southwestern Chihuahua, Mexico. Harvest Gold and its JV partner Evrim Resources Corp (“Evrim”) have completed a total of ten diamond drill holes at Serpiente Dorada, San Pedro and Cascarita for a total of 2,255.40 metres. The assay results follow up the announcement made February 14, 2019.

Warren Bates, Harvest Gold’s Chief Geologist states: “The maiden drill program at Cerro Cascaron demonstrates significant potential to discover a low to intermediate sulphidation epithermal gold deposit, specifically at the Serpiente Dorada and San Pedro areas. Drilling at Serpiente Dorada delineated a significant structural corridor containing local high-grade gold mineralization. Well-developed quartz fissure veins within a broad stockwork containing moderate gold grades and epithermal textures exists at San Pedro, and drilling has aided in vectoring toward a deeper and possibly higher grade gold target. Additional drilling is needed to follow up both areas and for exploration of several untested targets.”

Harvest Gold CEO Rick Mark states: “I would like to thank the excellent technical team composed of Evrim and Harvest Gold management and geologists who planned and directed this drill program. As Warren’s comments above indicate, we have learned a great deal about the gold vein field that so attracted us to Cerro Cascaron, but will need more drilling to determine whether it hosts an ore body. Our next step is to sit down with Evrim and review our options to continue the search for a gold deposit at Cerro Cascaron. They have been an excellent partner and we would like to continue the search with them.”

Drill Program Highlights

Serpiente Dorada

Drill hole SPT18-01 intersected 1.0 metre grading 20.1 grams per tonne (g/t) gold and 22.5 g/t silver from 225.5 metres downhole within 6.5 metres grading 3.29 g/t gold and 6.3 g/t silver from 224.5 metres (previously reported February 14, 2019);

Drill hole SPT19-02 intersected 11.5 metres grading 0.48 g/t gold and 3.9 g/t silver from 119.5 metres downhole and 1 metre grading 1.57 g/t gold and 1.2 g/t silver from 219 metres

San Pedro

SPED19-02 intersected 4.8 metres grading 1.02 g/t gold and 13.0 g/t silver from 141 metres downhole and 0.35 metres grading 5.39 g/t gold and 23.7 g/t silver from 154.45 metres downhole (previously reported February 14, 2019);

SPED19-03 intersected 2.4 metres grading 0.98 g/t gold and 36.6 g/t silver from 162.5 metres downhole.

About the Cerro Cascaron Drill Program

Ten drill holes have been completed with two holes at the Serpiente Dorada, four holes at San Pedro gold targets, and four at the silver-rich Cascarita target.

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Figure 1 – Map of the Cascaron vein field with Serpiente Dorada and San Pedro drilling shown

Serpiente Dorada

Drill hole SPT19-02 targeted the intersection of the north-trending Serpiente Dorada and northeast-trending La Julieta structures approximately 180 metres north of SPT18-01. The hole drilled into a sequence of rhyolitic and andesitic volcanic rocks with crosscutting hydrothermal breccias; a similar setting as hole SPT18-01. A zone of pervasive silicification and quartz veining hosts a broad zone of low-grade gold mineralization from 119.5 metres depth and a narrow zone of strong quartz veining hosts the intersection from 219.0 metres. The true widths of the zone of silicification and strong quartz veining are not known.

Drill holes SPT18-01 and SPT19-02 intersected the Serpiente Dorada structure over a strike length of approximately 180 metres and also delineated a new structure or splay off the Serpiente Dorada structure. Mineralization intersected in these holes comprises quartz veining and silicification where the Serpiente Dorada structure intersects interpreted hydrothermal breccias and a contact between andesitic and rhyolitic volcanic rocks and presents a structural setting for additional drilling.

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Figure 2a – Cross section of drill hole at Serpiente Dorada (A-A’) and Figure 2b – Cross section of drilling at San Pedro (B-B’)

San Pedro

Drilling at San Pedro has intersected a quartz vein beneath the shallow historic workings hosted in rhyolitic tuff and andesite. Drill hole SPED19-02 intersected the quartz vein approximately 110 metres beneath the workings at the contact between andesite and rhyolite and returned 4.8 metres grading 1.02 g/t gold and a separate higher grade interval of 5.39 g/t gold over 0.35 metres. Drill hole SPED19-03 intersected the San Pedro vein approximately 40 metres beneath the vein in SPED19-02 and returned 2.4 metres grading 0.98 g/t gold from 162.5 metres downhole. Both SPED19-02 and SPED19-03 intersected the banded San Pedro quartz vein and the vein intersected in hole SPED19-03 also contained multi-episodal chalcedonic quartz and quartz breccias. The textures observed in holes SPED19-02 and SPED19-03 suggested that the vein in these holes is above the boiling zone where the best mineralization is expected. Hole SPED19-04 was drilled to intersect the San Pedro Vein about 70 metres downdip from the vein in SPED19-03 and intersected a zone of pervasive silicification and quartz veinlets with anomalous gold and pathfinder elements. Additional drilling is recommended to test deeper targets along strike within the system.

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Figure 3 – “San Pedro vein intersected in hole SPED19-03”

Significant Intersection Table

------------------------------------------- |Hole |From |To |Width|Gold |Silver| | |(m) |(m) |(m) |(g/t)|(g/t) | |-----------------------------------------| |SPED18-01|No significant assays | |-----------------------------------------| |SPED19-02|141.0 |145.8|4.8 |1.02 |13.0 | |-----------------------------------------| |And |154.45|154.8|0.35 |5.39 |23.7 | |-----------------------------------------| |SPED19-03|162.5 |166 |3.5 |0.74 |26.5 | |-----------------------------------------| |including|162.5 |164.9|2.4 |0.98 |36.6 | |-----------------------------------------| |SPED19-04|No significant assays | |-----------------------------------------| |SPT18-01 |224.5 |231.0|6.5 |3.29 |6.3 | |-----------------------------------------| |Including|225.5 |226.5|1.0 |20.1 |22.5 | |-----------------------------------------| |SPT19-02 |119.5 |131.0|11.5 |0.48 |3.9 | |-----------------------------------------| |and |219.0 |220.0|1.0 |1.57 |1.2 | -------------------------------------------

All intervals given for mineralized intervals are core lengths. The true widths of the intersections are not known.

Drill Hole Information Table

--------------------------------------------------------- |Hole |Easting|Northing |Elevation|Azimuth|Dip|Hole | | |(m) |(m) |(m) |(o) |(o)|Depth| | | | | | | |(m) | |-------------------------------------------------------| |SPED18-01|246,222|2,949,475|1,883 |276 |-45|201.0| |-------------------------------------------------------| |SPED19-02|246,222|2,949,475|1,883 |220 |-55|219.0| |-------------------------------------------------------| |SPED19-03|246,222|2,949,475|1,883 |220 |-68|216.0| |-------------------------------------------------------| |SPED19-04|246,309|2,949,410|1,919 |270 |-70|370.5| |-------------------------------------------------------| |SPT18-01 |248,404|2,947,705|1,677 |270 |-64|320.0| |-------------------------------------------------------| |SPT19-02 |248,370|2,947,880|1,733 |270 |-55|270.0| |-------------------------------------------------------| |CAS18-01 |240,533|2,947,389|1,360 |060 |-45|209.7| |-------------------------------------------------------| |CAS18-021|240,556|2,947,295|1,301 |070 |-45|48.2 | |-------------------------------------------------------| |CAS18-02B|240,557|2,947,296|1,301 |070 |-45|201.0| |-------------------------------------------------------| |CAS18-03 |240,361|2,947,455|1,405 |040 |-60|200.0| ---------------------------------------------------------

1. Hole was lost

About the Cerro Cascaron Project

The Cerro Cascaron property hosts a low to intermediate sulphidation epithermal gold system that includes a gold-bearing vein in the eastern part of the property. Veining has been mapped over 900 vertical metres, with classic textural evidence of hydrothermal boiling accompanying the highest gold grades. The proposed boiling zone has 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 are similar to many epithermal deposits in the Sierra Madre Occidental, including Minera Frisco SAB's Ocampo Mine to the northwest, Coeur Mining Inc.’s Palmarejo mine, and First Majestic Silver's San Martin de Bolaños silver mine.

Qualified Person Statement

The disclosure of technical or scientific information in this press release has been reviewed and approved by Warren Bates, P.Geo. Chief Geologist for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of National Instrument 43-101.

Core samples were delivered to ALS Global in Hermosillo, Sonora for sample preparation and to the ALS laboratory in North Vancouver for analysis. The Hermosillo and North Vancouver facilities have ISO/IEC 17025:2017 certification. Field duplicate samples, blank samples and certified reference materials were inserted into the sample sequence each at a frequency of one per 20 samples. Samples were assayed for gold by 30 gram fire assay and multi-element analysis by four-acid and ICP analysis.

About Harvest Gold Corporation

Harvest Gold is a mineral exploration company presently advancing its Cerro Cascaron high grade gold/silver project in Chihuahua State, Mexico, where an initial 3,000 metre drill program is underway. Harvest can earn up to 80% of the Cerro Cascaron project through its Joint Venture with Evrim Resources Corp.

Harvest Gold’s Board of Directors and management team are experienced in successful exploration and have collective geological and financing experience exceeding 200 years.

ON BEHALF OF THE BOARD OF DIRECTORS:

Rick Mark,
President and CEO

For more information please contact:

Rick Mark or Jan Urata
@ 604.682.2928 or info@harvestgoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold Corporation (the "Company“) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.