Vancouver, British Columbia / March 25, 2021 - Harvest Gold Corporation (TSX.V: HVG) (“Harvest Gold” or the “Company”) provides an exploration update on its 100% owned Au-Cu Emerson Property located in central B.C. The 56 km2 Emerson property comprises 14 contiguous mineral claims located 15 km west of Houston, B.C. with a nearby railroad, high voltage powerline and gas pipeline.
Mr. Rick Mark, President and CEO of Harvest Gold states: “We believe that Emerson hosts a large hydrothermal system and evidence permissive for two significant deposit types: (1) a Blackwater-style gold-silver deposit; and (2) a large copper±gold±molybdenum porphyry. Today, we are reporting on the completed interpretation of Harvest’s recent airborne magnetic survey over Emerson. This release is specific to the gold potential at Emerson. It provides more detail on the Emersion showing, identifies a 4.7km trend and four new significant targets. We are also very pleased to note the success and progress of Sun Summit Minerals Inc. which announced more significant exploration results this week from their Buck project less than 20km from Emerson, highlighting the gold mineralization potential of this area.
Henry Awmack, Property co-vendor and member of Harvest Gold’s Geoscience Advisory Board states: “Harvest has just received Fathom Geophysics’ final report on their processing and interpretation of the Emerson airborne magnetic survey. Fathom’s radial symmetry analysis clearly shows a relationship between a broad magnetite-destructive anomaly and an area where previous work by Amax and Lornex has shown the presence of a strong hydrothermal system comprising sericite-pyrite alteration with quartz veining and anomalous gold. This sericite-pyrite alteration is shown in Figure 1 and compares to the magnetite-destructive anomaly labelled “Demagnetized Intrusion” in Figure 2.
Awmack continues “This magnetite-destructive target, the “Emerson Target”, as shown in Figure 2 is pronounced at all depths of interpretation and nearly doubles the area considered prospective for Blackwater-type mineralization in historical work. Targets A and B shown in Figure 2 are also magnetite-destructive areas similar to the Emerson Target in geophysical characteristics and size. Targets A and B are situated along a geophysical trend which extends 4.7 km to the northwest of the Emerson Target, suggesting the possibility of other areas of alteration prospective for Blackwater-type mineralization (Figure 2). The radial symmetry analysis has also identified two additional magnetite-destructive areas within the Emerson property identified as targets (Targets C and D) which will require further investigation (Figure 2).”
Equity Exploration, Inc, has planned a percussion drilling program consisting of 38 tightly spaced holes up to 200m apart covering 1.3 km by 1.3 km inside the Emerson Target area to further define the gold mineralization potential at Emerson by testing the top of the bedrock geology below till cover. Harvest Gold awaits receipt of a drilling permit to execute this two-to-three-week program.
Qualified Person Statement
The disclosure of technical or scientific information in this press release has been reviewed and approved by Warren Bates, P.Geo. Director of Property Investigations for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of National Instrument 43-101.
Figure 1: Regional geology of Emerson project showing the location of sericite and pyrite alteration around the Emerson prospect and related showings. The location of historical drilling and trenching is shown as well. The project area is approximately 25 km by road to the town of Houston, BC.
Figure 2: Radial symmetry analysis of airborne magnetic survey over Emerson shows a broad concave (magnetite-destructive) radial symmetry anomaly (blue diagonal lines) which covers the area of subcrop and trenching where previous work has shown the presence of a strong hydrothermal system comprising sericite-pyrite alteration, quartz veins and anomalous gold. This concave radial symmetry anomaly is pronounced at all depths of interpretation and nearly doubles the area considered prospective for Blackwater-type mineralization from the area identified by historical work. Two additional targets at least 4.7 km to the northwest from the Emerson trenching show strong geophysical similarity to the Emerson target.
About Harvest Gold Corporation
Harvest Gold is focused on the Interior Plateau of British Columbia exploring for near surface Gold deposits and Copper Gold Porphyry deposits. Harvest’s Board of Directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold acknowledges that Emerson is situated in the traditional territory of the Wet’suet’en First Nation. Harvest Gold is committed to developing a positive and mutually beneficial relationship based on respect and transparency with the Wet’suet’en Nation.
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 Corporation (the “Company”) 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.
This news release includes technical information that was generated prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data are unknown to Harvest Gold, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company’s Qualified Person for the purposes of National Instrument 43-101.
A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies’ press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company’s properties.
Relating to exploration, the identification of exploration targets and any implied future investigation of such targets on the basis of specific geological, geochemical and geophysical evidence or trends are future-looking and subject to a variety of possible outcomes which may or may not include the discovery, or extension, or termination of mineralization. Further, areas around known mineralized intersections or surface showings may be marked by wording such as “open”, “untested”, “possible extension” or “exploration potential” or by symbols such as “?”. Such wording or symbols should not be construed as a certainty that mineralization continues or that the character of mineralization (e.g. grade or thickness) will remain consistent from a known and measured data point. The key risks related to exploration in general are that chances of identifying economical reserves are extremely small.
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.
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