Harvest Gold Completes High-Resolution Airborne Magnetic Survey over its Urban-Barry Project in Quebec

2024-05-14 / @thenewswire

(TheNewswire)

Vancouver, British Columbia – TheNewswire - May 14, 2024 ‑ Harvest Gold Corporation (TSXV: HVG) (“Harvest Gold” or the “Company”) is pleased to announce that the Company has completed an extensive 1,574 line-km high-resolution helicopter survey, covering 68.61 km2 over its Urban Barry-Project located in the Urban Barry region of Quebec (Figure 1).

The helicopter-borne system utilized dual laser optically pumped magnetic sensors providing 1,000 measurements per second (1,000 Hz) from a “stinger” mounted at the front of a Guimbal G2 light helicopter. The survey was conducted with 50 m line separation and 500 m control lines spacing, maintaining a consistent minimum elevation of 15 metres above the ground to optimize data quality (Figure 2).

Rick Mark, President and CEO of Harvest Gold states: “We have been updating our shareholders and the market on the airborne magnetic survey at our flagship property, Mosseau. Today, we begin to report on our nearby, 100% owned Urban-Barry project. This geologically similar property is largely till covered and has had little historical exploration. These initial high resolution mag results confirm several cross cutting structures, where gold tends to accumulate, which will guide us as we consider next steps on the ground.”

Upcoming compilation work will include incorporating the recent magnetic data with the LiDAR and topographic digital elevation model to identify mineralized shear zones and cross cutting faults. The magnetic data will also be used to update the geology map and identify key stratigraphic contacts and structures along an 18-km strike that traverses the entire length of the property.

Louis Martin, Senior Technical Consultant of Harvest Gold remarked: “The quality of data obtained from this high-resolution magnetic survey far surpasses that of previous regional surveys conducted by the government as shown in Figure 3. With this advanced dataset, we can now interpret the underlying geology with greater confidence and precision, enhancing our understanding of key structural features such as shear zones and faults.”

The Urban-Barry property is being developed in conjunction with Harvest Gold’s nearby Mosseau property, located 15 km to the southwest. Both properties are located in the Urban Barry region of the Abitibi and characterized by favourable volcanic rocks and the Wilson pluton.

2024 Airborne Magnetic Survey

The high-resolution airborne magnetic survey over Harvest Gold’s Urban Barry property was conducted by Novatem Airborne Geophysics (“Novatem”) of Mont Saint-Hilaire, Quebec. The project is located 39 km east of the town of Lebel-sur-Quevillon. The survey was completed between March 27th and April 1st, 2024. The survey covered a total area of 68.61 km2 and included 1,574 line-km. Novatem ensured rigorous onsite data processing and quality control, in addition to providing both preliminary and final survey products.

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Figure 1: Harvest Gold Projects in the Urban Barry Area

Click Image To View Full SizeFigure 2: Magnetic coverage of Urban Barry Project

Click Image To View Full SizeFigure 3: Comparison in resolution between 2024 Harvest Gold magnetic survey and Quebec Government regional magnetic survey completed between 1970 and 1990.

Qualified Person Disclosure

The disclosure of technical or scientific information in this press release has been reviewed and approved by Louis Martin, P.Geo. (OGQ 364), Qualified Person for Harvest Gold. Mr. Martin serves as a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Harvest Gold Corporation

Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha, located approximately 45-70 km east of Osisko-Gold Fields Windfall Deposit.

Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.

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
@ 604.737.2303 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 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.