(TheNewswire)
Vancouver, British Columbia - TheNewswire - March 9, 2022 ? Harvest Gold Corporation (TSXV:HVG) (“ Harvest Gold ”, “Harvest” or the “ Company ”) ispleased to provide an update on the inaugural 5 hole, 2,600 metrediamond drill program at its 100% owned Au-Cu Emerson Property locatedin central B.C. The 56 km 2 EmersonProperty comprises 14 contiguous mineral claims located 15 km west ofHouston, B.C. with a nearby railroad, high voltage powerline and gaspipeline.
Harvest Gold President and CEO Rick Mark states:“Today, we are updating the market on our initial drill program atEmerson. I want to make clear that we have not received assay resultsand that we are only describing, in detail, what we have learned byinspecting the core in the initial testing of this very large IPanomaly. We believe it is significant that the anomaly appears toextend significantly below the 450m depth that the 3D IP technologycould “see” as our first hole ended at 795m. Our team describesthe characteristics of the core in the first two holes.”
Henry Awmack, amember of Harvest Gold’s Technical Advisory Board and propertyco-vendor states: “Initial diamonddrill testing at our Emerson Project confirms that a very large (2000mX 900m), open, IP chargeability anomaly can be attributed toquartz-pyrite breccia zones overlying thick quartz-pyrite stockworkzones. Breccia zones are hosted in clay-altered and silicifiedfeldspar porphyry and host 2-15% pyrite. Apparent thickness of thebreccia zones reaches 50m. Silicified feldspar porphyry with aquartz-pyrite stockwork extends to the bottom of the initial holeEMR22-019 at 795 m hole depth, showing the great depth extent of thesystem. We are very encouraged by the visual core results and lookforward to providing further updates when we receive analyticalresults.”
Highlights:
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Drill hole core confirms source oflarge IP anomaly: The first two drill holes haveshown that chargeability anomalies in the DIAS 3D IP inversion resultsare related to significanthydrothermal pyrite in quartz pyrite-breccia zones and quartz pyritestockworks in feldsparporphyry and andesite, with apparent thicknesses of up to 50 metres andup to 600 metres, respectively.
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Alteration and mineralization extendbelow limits of geophysical information: Quartz-pyrite stockwork zones extend to depths of 795m, morethan 300m below the limits of the 3D IP chargeability inversion. Thiscoincides well with a ~165 ha chargeability anomaly open to the NW(Figure 1).
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Large footprint and continuity ofpyrite mineralization to depth: Alterationintersected includes clay within vuggy feldspar porphyry from surfaceto 150 m depth. Below this, pervasive and stockwork silicification andclay alteration from 290 to 795 m depth. Mineralization to 795 m depthincludes pyrite dissemination, quartz-pyrite ± molybdenite veins,pyrite veinlets, and galena-sphalerite veins.
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Two holes completed; Two diamond drill holes totaling 1,098 metres have beencompleted to date. Drill hole EM22-019 was completed to a hole depthof 795m, while drill hole EM22-020 (collared 235m east of EM22-019)reached a depth of 303m along the same section. EM22-020 wasterminated before proposed depth due to ground conditions (see Figure2). Core samples are being dispatched from the Company’s corelogging facility in Houston, B.C. to ALS Global preparation facilitiesin Kamloops, B.C. Assays results are pending.
Figure 1: Location of 2022 Drill Holes in Plan View, with IPchargeability inversion model at 700m level (approximately 200m belowsurface) and 2019 rock sample highlights.
Figure 2: East to West Section throughEMR22-019 and -020 showing pyrite (Py) and molybdenite (Mol) averagedinterval percentages overlaid on chargeability anomaly.
Drill hole lithologies
Dominant lithologies encountered in holes EMR22-019 and-020 were feldspar porphyry (“FSPO”), feldspar porphyry breccia(“FSPO-BXX”) and andesite (“ANDS”). The dominant alterationtypes are silicification and clay alteration.
A zonation in alteration, from a mantle ofclay-dominated alteration in the upper 100 - 150 metres of drill holes-019 and -020, gives way to a zone of strong silicification to intensesilicification beneath. Minor sphalerite-galena-pyrite mineralizationis present in the upper clay-altered portions of the two holes.
A zone of feldspar porphyry breccia with 8-15%pyrite-silica veining is seen in both holes beneath the clay alteredzone. Intervals of quartz-pyrite cemented breccia from 12 to 15 m longare seen from 156 to 193 m in -020 and from 127 to 152 m in -019.Moderate pyrite mineralization including breccia zones coincides withthe DIAS 3D-IP chargeability high suggesting this is likely the sourceof the chargeability anomaly.
FSPO-BXX shows multiple phases of mineralization andstructural reworking. Mineralization is present in these zones asdisseminated pyrite, breccia infill of quartz-pyrite, interstitialpyrite, dark very fine-grained pyrite in quartz veins, and clusters ofpyrite veinlets that cut breccia textures. See Figures 3 and 4: corephotos of FSPO-BXX.
Figure 3: EMR22-019 at 130.5 to 134.5 m A) Quartz cementedbreccia; dark gray-black veinlets are made up of quartz and 30 – 40% very fine-grained pyrite. B) Close-up photograph showing later phase ofbrecciation from dark quartz-pyrite veinlets.
Figure 4: A)EMR22-020 at 162 m: Brecciation of silicified feldspar porphyry withquartz-pyrite cement. B) EMR22-020 at 168 m: Cluster of pyrite-quartzveinlets cutting clasts and cement of breccia, note sulfides up to15%.
Qualified Person Statement
The disclosure of technical or scientific informationin this press release has been reviewed and approved by Warren Bates,P.Geo. Director of Property Investigation for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of NationalInstrument 43-101, Standardsof Disclosure for Mineral Projects of theCanadian Securities Administrators.
About Harvest Gold Corporation
Harvest Gold is focused on the Interior Plateau ofBritish Columbia exploring for near surface gold deposits and CopperGold Porphyry deposits. Harvest Gold’s board of directors,management team and technical advisors have collective geological andfinancing experience exceeding 400 years.
Harvest Gold acknowledges that the Emerson and GoathornProjects are situated in the traditional territory of theWet’suet’en Nation while the Jacobite Project is situated in thetraditional territory of the Lake Babine Nation. Harvest Gold iscommitted to developing positive and mutually beneficial relationshipsbased on respect and transparency with local Indigenouscommunities.
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 future performance and actual resultsor developments may differ materially from those projected in theforward-looking statements. Forward looking statements are based onthe beliefs, estimates and opinions of the Company’s management onthe date the statements are made. Except as required by securitieslaws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, or other factors, should change.
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