(TheNewswire)
Vancouver, British Columbia / TheNewswire / February 28, 2024 ? Harvest GoldCorporation (TSXV: HVG) (“ Harvest Gold ” or the“ Company ”) is pleased to announce that Novatem, Inc,(“ Novatem ”) , a Quebec based company specializing in the performance ofhigh resolution airborne geophysical surveys, has been selected and isready to begin its work over Harvest Gold’s Mosseau Project. Mosseauis located 22 km east of Lebel sur Quevillon in the Abitibi region ofQuebec.
The helicopter airborne magnetic survey will comprise1,639 line km covering 7,136 ha. and will be flown at a nominal linespacing of 50 m. The height of flight above the ground will be a drapeas low as possible, usually between 15 m and 20 m consideringtopography and vegetation.
Harvest Gold President and CEO, Rick Mark, states:“We are all excited to take this first step towards providing us andour shareholders a better understanding of the potential at Mosseau.Our technical team spent the past two weeks working with Novatem tocustomize this mag flying program to ensure its outcomes complementthe extensive, but disparate existing historical data on Mosseau. Theobjective is to produce a comprehensive report defining andprioritizing the areas of Mosseau most likely to host golddeposits. ”
Novatem will utilize its ultra-high resolutionhelicopter system, Novatem G2, using two laser optical pumping sensorsproviding 1000 measurements per second (1000 Hz) mounted at the frontof a Guimbal G2 light helicopter.
The instrumentation will include:
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A “stinger”, mounted at the front of thehelicopter, designed and certified by Novatem for the Guimbal G2helicopter;
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Two very high-resolution laser optically pumped scalarmagnetic sensors;
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A real time GNSS multi-frequency receiver for GPS,Glonass, Galileo and BeiDou constellations;
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A compensation system developed by Novatem for the veryhigh resolution, using an inertial unit and a three-component fluxgatemagnetometer manufactured by Billingsley and high-performanceinversion algorithms for the calculation of coefficients; and
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A “draped” navigation system developed by Novatem,allowing to follow a continuous flight surface, calculated in advance,and thus to minimize the differences at the intersections of flightlines and control lines.
This high-resolution geophysical survey will serve as abase for upcoming compilation of the geology and numerous historicalshowings as well as cross cutting structural features (Figures 1 and2). This compilation will provide the Harvest Gold Technical team withthe information needed to effectively plan this summer’s prospectingand property wide soil geochemistry survey.
Figure 1: Location and Geology ofMosseau Project
Figure 2: Gold Showings and RegionalMagnetic Map – Mosseau Project
The Company has issued the second payment of 2,000,000common shares (the “ Shares ”) to Vior Inc. at a deemed price of$0.02 per Share (being the current market price of Shares on the TSXVenture Exchange), representing a total deemed value of$40,000.
The Shares are subject to a statutory hold period offour months plus a day from the date of issuance in accordance withapplicable securities legislation and the Exchange Hold Period.
Qualified Person Statement
The disclosure of technical or scientific informationin this press release has been reviewed and approved by PhillipTerrence Coyle, P.Geo. (OGQ 2079) for Harvest Gold. Mr. Coyleserves as a “Qualified Person” as defined in National Instrument43-101, Standards of Disclosure for Mineral Projects of the CanadianSecurities Administrators.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surfacegold deposits and copper-gold porphyry deposits in politically stablemining jurisdictions. Harvest Gold’s board of directors, managementteam and technical advisors have collective geological and financingexperience exceeding 400 years.
Harvest Gold currently has 2 active gold projectsfocused in the Urban-Barry area, approximately 50 and 70 km east ofOsisko-Gold Fields Windfall Deposit
Harvest Gold acknowledges that the Mosseau Gold Projectstraddles the EeyouIstchee-James Bay and Abitibi territories. Harvest Gold is committedto developing positive and mutually beneficial relationships based onrespect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OFDIRECTORS
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 itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Forward Looking Information
This news release includes certain statements that maybe deemed "forward looking statements". All statements inthis news release, other than statements of historical facts, thataddress events or developments that Harvest Gold expects to occur, areforward looking statements. Forward looking statements are statementsthat are not historical facts and are generally, but not always,identified by the words "expects", "plans","anticipates", "believes", "intends","estimates", "projects", "potential" andsimilar expressions, or that events or conditions "will","would", "may", "could" or"should" occur.
Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results may differ materially from those in theforward-looking statements. Factors that could cause the actualresults to differ materially from those in forward looking statementsinclude market prices, exploitation and exploration successes, andcontinued availability of capital and financing, and general economic,market or business conditions. Investors are cautioned that any suchstatements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those projected in the forward-looking statements. Forwardlooking statements are based on the beliefs, estimates and opinions ofthe Company’s management on the date the statements are made. Exceptas required by securities laws, the Company undertakes no obligationto update these forward-looking statements in the event thatmanagement's beliefs, estimates or opinions, or other factors, shouldchange.
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