Vancouver, British Columbia, June 15, 2017 Harvest Gold Corporation (TSX.V: HVG) (“Harvest Gold” or the “Company”) is pleased to provide initial rock sampling results from a recent 4-day site visit to the 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. (“Evrim”). The project covers 69 square kilometers in an historic Colonial-era mining district in the prolific Sierra Madre Occidental precious metals belt of western Chihuahua State, Mexico.
As part of its due diligence, Harvest Gold retained Mr. David Bent, P. Geo., as a geological consultant to visit the project. Mr. Bent was able to inspect most of the project and took nine rock samples from both the main gold vein field and a newly discovered, silver rich breccia and vein target called La Cascarita, located five kilometres west of the currently defined main gold field. The rock samples twinned previous samples taken by Evrim to confirm previous assay results. Gold and silver sample locations and comparative assay results are provided below.
Sampling at La Cascarita returned highly anomalous polymetallic values, with sample D504728, from the lip of a breccia structure that is estimated to be 3 m in width, returning 1,170 g/t silver, 2.72 g/t gold, and 1.02% zinc and sample D504727, from the surface outcrop of the 1.3 m wide La Cascarita vein, returning 331 g/t silver, 0.067 g/t gold; and 1.63% lead.
A sample from the Serpiente Dorada vein, part of the main gold vein field, assayed 826 g/t gold, which supports Evrim’s high grade sample of 1,670 g/t gold. Six other samples from the main vein field also assayed significant gold grades of between 0.251 g/t and 38.0 g/t gold.
Commenting on his site visit, Mr. Bent said “I consider the Cerro Cascaron property to be an excellent target for an aggressive exploration campaign. There has been no drilling to date and no indication of the use of modern exploration techniques to delineate buried targets. I recommend that Harvest acquire the property and conduct an integrated program of geological, geochemical and geophysical surveys followed by a drill program”.
Harvest Gold’s’ President and CEO Rick Mark states: “David’s site visit to Cerro Cascaron confirmed the main features of this outstanding gold and silver exploration project and the highly professional initial exploration work conducted by Evrim’s field crew. Key features of the project are the grade and extent of mineralization and the presence of multiple targets, including the main gold vein field, the La Cascarita silver rich breccia target and the Divisadero vein and stockwork prospect located on the south side of the La Dura River. We are very excited to begin the Phase 1 exploration program shortly and plan to provide regular updates to our shareholders over the next three months as we prepare for a minimum 3,000 metre drill program in the fall of 2017. ”
*1ppm = 1 gram/tonne. 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 for a full description of their exploration results.
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 kilometers 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 kilometers southeast of Goldcorp Inc.’s past-producing El Sauzal gold mine and is one of the few unexplored and undrilled opportunities in the region.
Figure 1: Gold rock sample assay values collected by Evrim and Harvest Gold
Figure 2: Silver rock sample assay values collected by Evrim and Harvest Gold
Phase 1 Exploration Plans
A fully funded Phase 1 Field Program developed by Harvest Gold and Evrim is scheduled to begin shortly and will require approximately two months with a budget of approximately $225,000. Evrim’ s knowledgeable and experienced field crews will operate this program. The program will include the opening of two historic adits, detailed mapping, sampling and prospecting on the main vein field, La Cascarita, and a well altered and currently unexplored eastern extension of the vein field that lies across a river valley. The object of the Phase 1 program is to provide multiple drill targets for a minimum 3,000 metre diamond drill program in the fall of 2017.
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. Harvest utilized the same procedures to collect and assay the rock samples noted in this release.
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.
