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Harvest Gold makes discovery in
first drill program,
Johnston property, Rice Lake Gold
Belt, Manitoba
January 18, 2006
Harvest Gold Corporation (HVG –
TSX.V) January 18, 2006 (the “Company”) announces the discovery of a gold zone
on the Johnston property, Rice Lake Gold Belt, Manitoba. The property is located
in the Rice Lake Gold Belt, approximately 20 km east of the mining community of
Bissett, Manitoba. The Johnston property consists of 12 claims covering an area
of approximately 19 square km. Provincial highway #304 runs through the claim
block providing excellent access to the property.
The Company undertook a
geological reconnaissance survey, a soil geochemistry survey and a drill program
between September and November of 2005 as part of its due diligence and initial
phase of exploration of the property. During the program, Company geologists
recognized that a zone of carbonate-rich rocks represented extensive carbonate
alteration with ankerite and fine gained quartz. Geologists also recognized that
this was similar to alteration associated with gold-bearing mineralization in
mining camps such as Red Lake, Timmins, and elsewhere.
Four holes were drilled into
the zone of carbonate alteration and one hole was drilled to test a strong VLF
conductor approximately 500 m north of the zone of alteration. All four holes
drilled into the zone of carbonate alteration intersect gold-bearing mineralized
rock with values that ranged from <100 ppb to >12 g/t (samples were cut to 1 m
core lengths where lithology permitted). The fifth hole, DDH L-05-05 was drilled
500m north and 300 m west of the alteration zone and intersected a wide zone of
shear but did not intersect mineralization.
The Company is pleased with the
results of this program as it confirms that a systematic approach and
combination of geochemistry and geophysics can be used in this relatively
unexplored area to make new gold discoveries.
Summary
of Johnston Claims Autumn 2005 Drilling Program
|
Drill Hole |
Interval
From (Meters) |
Interval
To |
Assay
Values |
|
L-05-01 |
19.00
20.00 |
20.00
21.00 |
12.86 Au g/t
2.23 Au g/t
(Total Length Weighted Average
7.55 g/t Au over 2 meters) |
|
L-05-02
And |
33.50
68.80
69.55 |
34.50
69.55
70.30 |
3.09 Au g/t
2.13 Au g/t
1.41 Au g/t
(Total Length Weighted Average
1.77 g/t Au over 1.5 meters) |
|
L-05-03 |
127.30 |
128.30 |
3.40 Au g/t |
All samples were assayed using
the ICP ES multi-element method at TSL laboratories in Saskatoon which provides
Au contents up to 5000 ppb. Samples with over 1000 ppb are routinely assayed
using 15 g sample alliquots. The technical information in this release has been
reviewed by Dr. George Gale, P Eng. Qualified Person.
Together these 4 drill holes
tested the alteration zone for a strike length of 265 meters and indicate the
presence of significant mineralization along strike for a distance of 80 meters
within the alteration zone. In addition, drill hole L-05-03 indicates the
presence of gold mineralization in association with the iron formation. The
carbonate alteration extends eastwards along the shear zone for at least another
100 m before it disappears into a swamp and the gold-bearing zone intersected in
drill hole L-05-01 is open to the east.
The zone of alteration occurs
within a regional shear zone and is situated adjacent to both a VLF conductor
and a strong magnetic anomaly. The position of the alteration zone adjacent to
the strong geophysical features will assist geologists in following this
prospective geology into overburden covered areas such as the swamp where rock
outcropping is limited or nonexistent.
An Enzyme Leach soil
geochemistry survey was conducted over the zone of alteration and several of the
VLF conductors. Over the carbonate alteration zone the survey produced multiple
sample gold anomalies on two lines spaced 100 m apart. Test profiles over other
geophysical anomalies produced pathfinder element anomalies, but did not detect
any Au or Ag. These results, backed by drilling, demonstrate the usefulness of
the technique in helping to detect hidden or buried mineralization in the
prospective low lying areas of the property, which are relatively unexplored.
The Company holds two
additional claim groups in the belt, the Mabel Lake claim block covering an area
of approximately 9 sq km 5 km to the SE and the Wyatt claims comprising 11
claims 20 km located to the south.
Harvest Gold Corporation will
be attending The Vancouver Resource Investment Conference being held at the
Vancouver Convention and Exhibition Centre on Sunday January 22 and Monday
January 23, 2006. Management invites attendees of the conference to visit the
Harvest Gold booth, (number 908). This Conference, which is one of the largest
of its kind, is an annual event where individual resource investors,
professional advisors, analysts and fund managers meet with publicly-listed
resource companies.
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
The TSX Venture Exchange has not reviewed this press release and does not accept
responsibility for the adequacy or accuracy of this release.
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