Phase 1 at Cerro Cascaron Complete; Drill Targeting Underway

2017-11-27 / @thenewswire

(TheNewswire)

Vancouver, British Columbia / TheNewswire / November 27, 2017 - Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) and Evrim Resources Corp. (“Evrim”) (TSX.V:EVM) are pleased to announce the completion of the phase one exploration program at the high-grade Cerro Cascaron gold-silver project in Mexico. The combined Evrim/Harvest geological teams have begun the work to define drill targets and will meet in Vancouver next week to finalize and prioritize these targets.

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 the Project by incurring certain exploration expenditures, making cash and share payments and delivering a 43-101 compliant feasibility study.

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;

Harvest Gold’s President and CEO Rick Mark states: “The phase one exploration program at Cerro Cascaron has successfully demonstrated the size potential of the Cascaron vein field with extensions of all veins to the north of high-grade gold sampled in old workings. The latest sampling of ore grades and widths at the silver-rich Cascarita prospect presents an exciting new development.”

Vice President of New Opportunities and Exploration for Evrim, Charles Funk commented: “The phase one exploration program at Cerro Cascaron has successfully demonstrated the size potential of the Cascaron vein field with extensions of all veins to the north of high grade gold sampled in old workings. New sampling at the silver rich Cascarita prospect of ore grades and widths is an exciting new development. We look forward to Harvest Gold progressing to test these drill ready targets in early 2018.”

Cascarita Adit Sampling

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In the Cascarita area, six vein systems are present within a 900 metre by 300 metre corridor of northwest-striking structures. The fault-bounded structures attain appreciable widths of up to 3.3 metres with associated and locally extensive zones of stockwork veining up to 20 metres wide that locally link parallel structures. Mineralized structures comprise dominantly quartz±barite breccia-veins with polymetallic sulphides. Quartz textures include colloform and drusiform quartz and local amethyst. Boiling textures are present as quartz pseudomorphs after bladed calcite at the Coralillo Vein. Polymictic breccias that locally include quartz vein fragments suggest significant reactivation and movement along faults. Significant base metal sulphide development is reflected by very high lead and zinc with anomalous copper, arsenic and antimony geochemistry. Veins and sampling locations are shown in Figures 1 and 2.

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Figure 1 Cascarita prospect

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Figure 2 Detailed area showing adit sampling location and results

Soil Sampling

A soil sampling program was completed over the Cascaron vein field area to define the extension of the veins northward and at a higher elevation. Earlier Evrim sampling had demonstrated high gold grades along the base of a silicified rhyolite tuff cliff with common old workings and prospecting had suggested northern extensions to these veins. The soil sampling program was successful in extending all veins by 600 metres to 1,800 metres in strike length. Importantly the veins occur at higher elevations above the boiling zone where high gold grades are sampled. Drilling these veins at the same elevation as the old workings is the next exploration step.

The sampling program defined two new vein corridors that follow-up mapping confirmed as quartz/calcite veins labelled El Salto and El Tascate. A 1.8km long, very prominent gold in soil vein corridor north and east of the Julieta and Serpiente Dorada veins includes a sample that assayed 1.38 grams per tonne (g/t) and is a high priority target for drill testing.

Mapping

The geology in the area of the Cascaron vein field is lithologically and structurally complex. The uppermost and youngest lithology of the vein field comprises ignimbrites of the Upper Series Sierra Madre Occidental Volcanics. The ignimbrites overlie a conformable package of rhyolitic tuffs and pyroclastic horizons with intercalated fine-grained tuffs. This dominantly felsic volcanic package in turn overlies a series of andesite flows with intercalated basalt flows. The intercalated andesite/basalt flows overlie andesite flows and rhyolite flows. A series of aphanitic rhyolitic dykes that locally exhibit flow textures, cut the whole volcanic sequence except for the igmimbrites and the rhyolitic tuffs of the upper part of the SMO.

Overall, mineralization in the soil and rock geochemical corridors corresponds to quartz and calcite veins with low temperature textures indicative of the highest levels of the epithermal system. Limited wallrock alteration also suggests that the structures are high level exposures. The quartz veins have well-defined structural controls.

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Figure 3 The highly anomalous gold in soil trend north and east of Julieta and Serpiente Dorada

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, 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.