Vancouver, British Columbia, June 22, 2017 Harvest Gold Corporation (TSX.V: HVG) (“Harvest Gold” or the “Company”) is pleased to announce the initiation of a CDN$225,000 Phase 1 exploration program at its high-grade Cerro Cascaron gold/silver project in Mexico. Harvest Gold can earn up to an 80% interest in Cerro Cascaron from Evrim Resources Corp (TSX.V: EVM) (“Evrim”). The project covers 69 square kilometres in a historic Colonial-era mining district in the prolific Sierra Madre Occidental precious metals belt of western Chihuahua State, Mexico.
Harvest Gold’s’ President and CEO Rick Mark states: “As we promised our shareholders we are now beginning our Phase 1 exploration program at Cerro Cascaron. I am impressed with the technical team’s attention to detail and their very specific objectives. We will provide regular updates as we prepare for a minimum 3,000 metre drill program at this highly prospective property the fall of 2017.”
Phase 1 Exploration Plans
Field preparations are underway to begin a fully funded Phase 1 Field Program developed by Harvest Gold and Evrim that will require approximately two months. The Phase 1 work program will begin by the end of June and will be operated by Evrim’ s knowledgeable and experienced field crews. The program will include:
(i) a 15-day program to open two historic adits, which we expect will expose the working faces of the related veins and breccias and provide for more thorough sampling of these targets. Both adits are believed to be in the critical zone just below the Upper Volcanic Sequence and Lower Volcanic Sequence contact. Previous surface sampling of these targets provided rock chip samples of up to 30.9 g/t gold on a vein in the Cascaron vein field and up to 2.72 g/t gold and 1,170 g/t silver at La Cascarita. Readers are cautioned that rock chip samples are selected samples and are not necessarily representative of the mineralization hosted on the property. Readers should refer to Evrim’s press releases dated June 8 and August 17, 2016 and Harvest Gold press releases dated June 8 and 15, 2017 for a full description of the exploration results.
(ii), a 25-day detailed B-horizon soil geochemistry and prospecting program to further define the northern extensions of the main Cascaron vein gold field. This survey will be undertaken on 200-metre spaced lines with 50-metre spaced samples. The program will collect approximately 1,000 samples which will be submitted for assay using aqua regia and ultralow detection with the aim of identifying vein extensions through dispersion of pathfinder elements.
(iii) a 20-day program of detailed mapping of the gold rich part of the Cascaron vein field, Divisadero zone and La Cascarita prospect by three geologists with extensive experience in Mexican epithermal deposits. They will be supported by two junior field technicians for sample collection and approximately 150 rock chip samples will be collected and assayed utilizing four acid-digest with ultra-low detection analysis. The program will focus on host lithology and vein textures with a goal of identifying drill targets for the planned fall, 2017 drilling program. The Divisadero veins on the south side of the La Dura River are the largest visible alteration zone on the property.
In addition to the field work at Cerro Cascaron, a portion of the budget has been allocated to submitting drill permits and maintain community relationships.
About the Cerro Cascaron Project
The Cerro Cascaron property hosts a low to intermediate sulfidation epithermal gold bearing system and includes a high-grade gold vein field measuring approximately 18 square kilometres in area on the eastern third of the property. Veining has been mapped on a cliff face for over 900 vertical metres, with classic textural evidence of multiple phases of hydrothermal boiling accompanying the highest gold grades. These boiling zones have been established in the upper 380 metres of the vein field. Beneath the boiling zones, silver and base metal rich veins and breccias provide additional exploration targets.
Cerro Cascaron’s setting and mineralization is similar to many epithermal deposits in the Sierra Madre Occidental, including Fresnillo PLC's La Cienega Mine in Durango, Goldcorp’s past producing El Sauzal gold mine and further south, First Majestic’s San Martin de Bolanos silver mine in Jalisco State. The property is approximately 55 kilometres southeast of Goldcorp Inc.’s past-producing El Sauzal gold mine and is one of the few unexplored and undrilled opportunities in the region.
Quality Assurance/Quality Control
Mr. Warren Bates, P. Geo (APGO#0211), the Company’s Director of Property Investigation, is the Qualified Person for this press release for the purposes of National Instrument 43-101, and has reviewed and approved the technical information herein. Evrim Resources has advised that their quality control procedure is as follows: Samples were delivered to ALS Global in Hermosillo, Sonora for sample preparation and to the ALS laboratory in North Vancouver for analysis. The Hermosillo facility has ISO 9001:2008 certification while the North Vancouver facility has ISO/IE 17025:2005 certification. Blank samples were inserted into the sample sequence for all channel samples with noted visible gold with no indications of contamination. Samples were assayed for gold by 30 gram fire assay and multi-element analysis by aqua regia and four-acid ICP analysis. Selected samples with coarse or visible gold were re-analyzed by 50 gram screen metallic assay.
About Harvest Gold
Harvest Gold is a gold-focused mineral exploration company with an experienced board of directors and management whose collective geological and financing experience exceeds 200 years. Harvest also holds three fully registered mineral concessions on properties in the Republic of Suriname: the Goliat-Tibiti, Gonini River and Oelemari concessions.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company is well financed, has a diverse range of quality projects and a database in Mexico and portions of the southwestern United States. The existing projects, and generation of quality exploration targets and ideas, are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim’s business plan also includes royalty creation utilizing the Company’s exploration expertise and existing projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Joel Matheson,
Director
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.682.2928 or [email protected]
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
