00:44:01 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Harvest Gold Corp (3)
Symbol HVG
Shares Issued 39,165,628
Close 2024-02-22 C$ 0.02
Market Cap C$ 783,313
Recent Sedar Documents

Harvest Gold chooses Novatem for Mosseau survey

2024-02-28 15:38 ET - News Release

Mr. Rick Mark reports

HARVEST GOLD CHOOSES NOVATEM INC. FOR HIGH-RESOLUTION AIRBORNE MAGNETIC SURVEY OVER ITS 100% OWNED MOSSEAU PROJECT AND ISSUES SHARES

Novatem Inc., a Quebec-based company specializing in the performance of high-resolution airborne geophysical surveys, has been selected and is ready to begin its work over Harvest Gold Corp.'s Mosseau project. Mosseau is located 22 kilometres east of Lebel sur Quevillon in the Abitibi region of Quebec.

The helicopter airborne magnetic survey will comprise 1,639 line km covering 7,136 hectares and will be flown at a nominal line spacing of 50 metres. The height of flight above the ground will be a drape as low as possible, usually between 15 m and 20 m considering topography and vegetation.

Harvest Gold president and chief executive officer Rick Mark states: "We are all excited to take this first step towards providing us and our shareholders a better understanding of the potential at Mosseau. Our technical team spent the past two weeks working with Novatem to customize this mag flying program to ensure its outcomes complement the extensive, but disparate existing historical data on Mosseau. The objective is to produce a comprehensive report defining and prioritizing the areas of Mosseau most likely to host gold deposits."

Novatem will utilize its ultrahigh-resolution helicopter system, Novatem G2, using two laser optical pumping sensors providing 1,000 measurements per second (1,000 hertz) mounted at the front of a Guimbal G2 light helicopter.

The instrumentation will include:

  • A stinger, mounted at the front of the helicopter, designed and certified by Novatem for the Guimbal G2 helicopter;
  • Two very high-resolution laser optically pumped scalar magnetic sensors;
  • A real time GNSS multifrequency receiver for GPS, Glonass, Galileo and BeiDou constellations;
  • A compensation system developed by Novatem for the very high resolution, using an inertial unit and a three-component fluxgate magnetometer manufactured by Billingsley and high-performance inversion algorithms for the calculation of coefficients;
  • A draped navigation system developed by Novatem, allowing to follow a continuous flight surface, calculated in advance, and thus to minimize the differences at the intersections of flight lines and control lines.

This high-resolution geophysical survey will serve as a base for coming compilation of the geology and numerous historical showings as well as crosscutting structural features) This compilation will provide the Harvest Gold technical team with the information needed to effectively plan this summer's prospecting and property wide soil geochemistry survey.

The company has issued the second payment of two million common shares to Vior Inc. at a deemed price of two cents per share (being the current market price of shares on the TSX Venture Exchange), representing a total deemed value of $40,000.

The shares are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the exchange hold period.

Qualified person statement

The disclosure of technical or scientific information in this press release has been reviewed and approved by Phillip Terrence Coyle, PGeo (OGQ 2079), for Harvest Gold. Mr. Coyle serves as a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Harvest Gold Corp.

Harvest Gold is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisers have collective geological and financing experience exceeding 400 years.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.