01:34:15 EDT Mon 20 May 2024
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Harvest Gold Corp (3)
Symbol HVG
Shares Issued 43,165,628
Close 2024-05-07 C$ 0.04
Market Cap C$ 1,726,625
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Harvest Gold completes Mosseau Au showing compilation

2024-05-08 10:33 ET - News Release

Mr. Louis Martin reports

HARVEST GOLD UPDATES ITS REVIEW OF KNOWN GOLD MINERALIZATION IN RELATION TO ITS HIGH RESOLUTION MAGNETIC SURVEY OVER THE MOSSEAU PROJECT IN QUEBEC

Harvest Gold Corp. has provided an update on the relationship between the historical gold showings on the property and the magnetic and structural study derived from its high-resolution magnetic survey of its flagship Mosseau project located in the Urban Barry region of Quebec.

The compilation of all historical gold showings from diamond drilling, channel sampling and grab samples by previous operators on Mosseau back to 1949 is complete. This has now been incorporated with the structural study incorporating high-resolution magnetics, lidar, digital elevation models and geological field structural measurements.

Since the company can now observe the key shear zones and important crosscutting fault zones at Mosseau, it is able to identify the mineralized shear zones and structural features important for hosting gold mineralization.

Three important styles of mineralization have been identified on the property in relation to the magnetic patterns observed.

Large dilation zones have been identified by the recognition of a change in magnetic domains. Within these dilation zones, several secondary structural features are interpreted, including the historical Morono deposit that has been traced for one kilometre along strike.

Intersecting northeast- and northwest-trending magnetic features located in the northwest corner of the property appear to be important sites in focusing the gold mineralization. Numerous gold showings are located at many of these sites, possibly representing intersections of northwest-trending stratigraphic shear zones and northeast-trending fault structures.

Liner northwest-southwest-trending magnetic-high features in the central part of the property were observed that corresponded to shear zones identified in the field. Numerous other targeted shear zones are also identified by similar, parallel magnetic features.

Harvest Gold senior technical consultant Louis Martin states: "The incorporation of the previous gold showings with the recent structural interpretation, and now the high-resolution magnetics has highlighted several structural features and trends important for hosting gold mineralization. This combination provides us with much better clarity on the key elements of the geological stratigraphy, shear zones and intersecting faults which will prove useful in identifying both prospecting and drilling targets."

Continuing compilation work will include assessing the potential strike extension of these promising horizons, updating the property-scale geology map and selecting priority prospecting targets for this summer.

Among other things, the company is planning a geochemical survey on key parts of the Mosseau property and has forwarded work tenders to several companies specializing in carrying out geochemical programs.

Qualified person disclosure

The disclosure of technical or scientific information in this press release has been reviewed and approved by Mr. Martin, PGeo (OGQ 364), qualified person for Harvest Gold. Mr. Martin 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.

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 hectares, located approximately 45 to 70 km west of the Osisko-Gold Fields Windfall deposit.

Harvest Gold acknowledges that the Mosseau gold project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local indigenous communities.

We seek Safe Harbor.

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