VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2012) - Harvest Gold Corporation (TSX VENTURE:HVG) (the "Company") is pleased to announce that it has signed a letter of intent (LOI) with DLK Minerals Ltd., to acquire the Esker project near Pickle Lake, Ontario.
The Esker project is located 61 kilometers southeast of the town of Pickle Lake, Ontario within the Pickle Lake Greenstone Belt. The Belt is part of the prolific Uchi Subprovince where historic production exceeded 30 million ounces of gold. The Esker project is contiguous to the southeast with the Golden Patricia deposit which produced 450,000 ounces of gold at a head grade of 14.91 g/t.
The Esker project hosts the "Esker Zone" that was discovered in 1988 by St. Joe Canada. Limited diamond drilling and geophysical surveys have been completed on the Esker Zone. The BIF zone at Esker occurs in iron formation that has been strongly deformed and consists of pyrrhotite, pyrite and minor chalcopyrite with gold bearing sections commonly ranging in the 2-5% sulphide and thinner sections of up to 40% sulphide. The second zone consists of blue-grey quartz veins hosted within biotite-carbonate altered mafic metavolcanic rocks, similar to the geological setting of the Golden Patricia deposit.
CEO Rick Mark states: "The Esker Project fits with the Company's objective of exploring and developing high-grade precious metals prospects. This project is of particular interest as it appears to cover the on strike potential of the very high grade and prolific Golden Patricia Vein as well as secondary gold targets such as iron formation hosted gold known to occur in the area. Its proximity to a past producer and the advantages of available infrastructure in the area are also attributes that attracted us to the Project."
The contents of this press release have been reviewed by the Neil Richardson, who is a Qualified Person as defined by NI 43-101.
Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company controls 100% interests in the advanced-stage Rosebud Gold Mine property, and generative gold properties at Garcia Flats in the South Carlin Trend and the RW property in the southern Battle Mountain - Eureka Trend. In Manitoba, Harvest is engaged in early-stage exploration of three groups of 100% owned claims in the Rice Lake Gold Belt and holds a 40% interest in the more advanced-stage, Assean Lake project.
On behalf of the Board of Directors,
Rick Mark, CEO
Harvest Gold Corporation
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.
Contact: Evan Sleeman
Company Name: Harvest Gold Corporation
Contact Title: Director
Phone: (604) 986-2020 or Toll Free: 1-866-816-0118
Fax: (604) 986-2021 (FAX)
Other1: www.harvestgoldcorp.com
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