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News Release - |
Harvest Gold Acquires Property On-Strike with Lesavage North,
Rice Lake Gold Belt, Manitoba
August 30, 2006
Harvest Gold Corporation (HVG – TSX.V) August 30, 2006 (the
“Company”) is pleased to announce that it has optioned the two claims
immediately east of its Lesavage North property in the Rice Lake Gold Belt in
Manitoba, Canada. The Con 1 and Con 2 claims cover an area of 121 Hectares (299
acres) and extends the Company’s property package a further 1.5 kilometers east
of the existing property boundary. They appear to be along the strike direction
of the mineralization tested in the summer 2006 drilling program. The drilling
program on the Lesavage North property has been completed and assay results of
drill core sampled are pending.
Government mineral occurrence files for the mineralization on the claims
indicate that the Con 1 and Con 2 claims were first worked prior to 1936.
Erratic high-grade samples were reported with values of up to 2440 g/t Au and
3940 g/t Ag concentrations. Historic drilling results have reported grades of up
to 33 g/t Au over 0.5 meters. It is important to note that these historic
results were reported prior to NI 43-101 and do not qualify under this policy.
Dr. George Gale, VP Exploration states “The historical gold and silver values as
reported in the Government mineral occurrence files on these claims are
interesting to the Company in that they seem to indicate that the mineralizing
trend discovered at the Red Hill zone may extend beyond the limit of the
Company’s claims in this part of the Rice Lake Gold Belt. As well, the recent
opening of two gold mines by San Gold Corporation (SGR:V) and the first gold
pour in Bissett last week demonstrates the potential of the Rice Lake Gold Belt
and supports management’s conviction that this camp presents a tremendous
opportunity to make additional discoveries.”
The gold discovered at Red Hill is associated with very fine grained pyrite and
arsenopyrite within a zone of ankerite (iron-magnesium carbonate) and silica
alteration, which is found in association with many Red Lake gold deposits.
Other occurrences of the same type of alteration are located within a large fold
structure and in a regional shear zone that cuts through the property and
continues eastward through the Con claims. This shear zone is part of a major
crustal break that extends eastwards through the world-class Red Lake Gold Camp
in Ontario.
The Company has posted a series of pictures taken during the drill program which
are available on the Company website at
www.harvestgoldcorp.com/investors.html
The Con I and Con 2 claims and the Garner 2 claims, all in the Rice Lake Gold
Belt in Manitoba, encompass the land position optioned by the Company from Peter
C. Dunlop pursuant to an option agreement dated August 12, 2006. The Company may
earn an initial 80% of the properties by paying $57,000 in cash to the vendor,
issuing 320,000 shares and expending a minimum of $300,000 on exploration
activity over the next four years. The option agreement is subject to acceptance
by the TSX Venture Exchange.
Harvest Gold Corporation is a mineral exploration company working in Nevada, USA
and Manitoba, Canada. In Nevada, the Company is exploring a large generative
gold property at Garcia Flats in the South Carlin Trend and an advanced property
with a gold-silver resource at the Longstreet Mine, in Northern Nye County. In
Manitoba, Harvest is exploring three groups of claims in the Rice Lake Gold Belt
of south eastern Manitoba and at Assean Lake, Manitoba.
The contents of this press release have been reviewed by the Company's VP
Exploration, Dr. George Gale, who is a Qualified Person as defined by NI 43-101.
On behalf of the Board of Directors,
John Roozendaal, B.Sc.
President,
Harvest Gold Corporation
For more information about Harvest Gold Corporation, please review the company’s
web site www.Harvestgoldcorp.com or speak with a Company representative at
1-866-816-0118 or 604-986-2020.
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