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Harte Gold Triples Mineral Resource At The Sugar Zone Project

15.02.2018  |  GlobeNewswire

TORONTO, Feb. 15, 2018 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX:HRT) (OTC:HRTFF) (Frankfurt:H4O) is pleased to announce an updated Mineral Resource Estimate and significant increase over the NI 43-101 Mineral Resource Estimate contained in the Company’s Preliminary Economic Assessment (“PEA”), dated July 12, 2012.

Indicated and Inferred Resource Distribution


Using a 3.0 g/t Au cut-off, which will form the basis of the Company’s new mine plan, the Mineral Resource Estimate dated February 15, 2018 contains an Indicated Mineral Resource of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces of contained gold and an Inferred Mineral Resource of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces of contained gold. Please see the table below for a sensitivity analysis.

Stephen G. Roman, President and CEO of Harte Gold Corp. commented, “We are very pleased with the results of the Mineral Resource update based largely on the 2017 drill program. With the Middle Zone discovery and the extension of the Sugar Zone down dip we have now delineated 1.5 million ounces and have demonstrated this Deposit has significant size potential. As we have been mining at the Sugar Zone property for the last two years, we have confirmed the grade, continuity and mining method. We will continue to develop this Mineral Resource at depth and along strike.”

Mineral Resource Estimate Update
Harte Gold retained P&E Mining Consultants Inc. (“P&E”) to update the Mineral Resource Estimate to incorporate an additional 185,000 meters of diamond drilling at the Sugar and Middle Zone areas. Harte Gold will file an NI 43-101 Mineral Resource Estimate Update and Technical Report (“Updated Technical Report”) on SEDAR within 45 days of this news release.

Mineral Resource Estimate Sensitivity

Category Cut-off Grade (g/t Au) Tonnes Grade
(g/t Au)
Contained Gold
(ounces)
Indicated 4.00 2,110,000 9.71 658,600
3.75 2,218,000 9.43 672,100
3.50 2,338,000 9.13 686,100
3.25 2,466,000 8.83 700,000
3.00 2,607,000 8.52 714,200
2.75 2,763,000 8.20 728,600
2.50 2,908,000 7.92 740,800
Inferred 4.00 2,781,000 7.49 669,900
3.75 2,966,000 7.27 692,900
3.50 3,164,000 7.04 716,000
3.25 3,404,000 6.78 742,100
3.00 3,590,000 6.59 760,800
2.75 3,825,000 6.36 782,500
2.50 4,128,000 6.09 808,000
  1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  4. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  5. Advanced Exploration Bulk Sample mined out area removed from the model.
  6. The 3g/t Au cut-off was derived from US1250 Au price, US$0.80 exchange rate, C$86/t mining cost, C$28/t processing cost, C$10/t sustaining Capex, C$5/t G&A cost, US$5/oz refining cost, 96% processing recovery and USD115/oz shipping, smelting and royalty charges (averaged across total production).

Approximately 50% of the Mineral Resource classified in the Indicated Category is located in the upper 500 meters of the Sugar Zone Deposit and a portion of the Middle Zone Deposit. The Company believes the gold grade is continuous at depth and will improve as infill drilling continues. The Company is targeting approximately 30,000 meters of infill drilling at both the Sugar and Middle Zones for 2018.

Mineral Resource Estimate, at 3.0 g/t Au Cut-Off1-6

Zone Classification Tonnes Grade
(g/t Au)
Contained Gold (ounces)
Sugar Indicated 2,148,000 8.61 594,700
Middle Indicated 460,000 8.09 119,500
Total Indicated 2,607,000 8.52 714,200
Sugar Inferred 1,802,000 6.37 369,300
Middle Inferred 1,788,000 6.81 391,500
Total Inferred 3,590,000 6.59 760,800
  1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  4. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  5. Advanced Exploration Bulk Sample mined out area removed from the model.
  6. The 3g/t Au cut-off was derived from US1250 Au price, US$0.80 exchange rate, C$86/t mining cost, C$28/t processing cost, C$5/t G&A cost, C$10/t sustaining Capex, US$5/oz refining cost, 96% processing recovery and USD115/oz shipping, smelting and royalty charges (averaged across total production).

Mineral Resource Estimate and Updated PEA
The updated Mineral Resource Estimate will form the basis of a the updated PEA, which includes mining at both the Sugar Zone and Middle Zones with key cost and operating inputs derived from the 70,000 tonne Advanced Exploration Bulk Sample and 30,000 tonne Phase I commercial programs. The Company expects to release the updated PEA by the end of April.

Mr. Roman commented, “With all major capital components either paid or contracted, project economics are well defined. Process plant construction is on schedule and we expect to start commissioning by the beginning of H2 2018.”

About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property where it has recently completed a 70,000 tonne Advanced Exploration Bulk Sample at the Sugar Zone Deposit and mined 30,000 tonnes under its Phase I Production Permit. The Sugar Zone property is located 80 kilometers east of the Hemlo Gold Camp. Using a 3 g/t Au cut-off, the Mineral Resource Estimate dated February 15, 2018 contains an Indicated Mineral Resource Estimate of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces of contained gold and an Inferred Mineral Resource Estimate of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces of contained gold. The mineral resource was prepared in compliance with NI 43-101 guidelines. Robert Kusins, P. Geo. and Harte Gold’s senior Mineral Resource geologist, is the Company Qualified Person for Harte Gold and has prepared, supervised the preparation, or approved the scientific and technical disclosure in this news release. Independent Qualified Person, Eugene Puritch, P.Eng., FEC, CET of P&E Mining Consultants Inc. has reviewed and approved the technical contents of this news release.

Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone adjacent and on strike of the Holloway Gold Mine.

QA/QC Statement
The company has implemented a quality assurance and control (“QA/QC”) program to ensure sampling and analysis of mine and exploration work is conducted in accordance with industry standards. Drill core is sawn in half with one half of the core shipped to Actlabs Laboratories located in Thunder Bay, ON, while the other half is retained at the Company’s core facilities in White River, ON, for future verification. Certified reference standards and blanks are inserted into the sample stream on a regular interval basis and monitored as part of the QA/QC program. Gold analysis is performed by fire assay using atomic absorption, gravimetric or pulp metallic finish.

For further information, please contact:
Stephen G. Roman Shawn Howarth
President and CEO Vice President, Corporate Development
Tel: 416-368-0999 Tel: 416-368-0999
Email: sgr@hartegold.com E-mail: sh@hartegold.com

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/65fdf546-09f3-42c0-889d-a5bc393a32a5



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