Harvest Gold Stakes an Additional 39 Km2 at The Emerson Copper Gold Project in British Columbia
Vancouver, June 29, 2020 - Harvest Gold Corp. (TSXV:HVG) ("Harvest Gold" or the "Company") is pleased to announce that it has received confirmation from the B.C. Mineral Titles Office that it has successfully staked an additional 39 km2 of contiguous claims to the north of the current Emerson gold project in the Omineca Mining Division of central B.C. The additional staking covers all a large magnetic low that was discovered through an airborne magnetic survey conducted by Geoscience B.C. in 2016 (Figure 1). The Emerson project, one of the three just acquired by the Company (see June 23, 2020 news), now covers 50 square kilometers, is road accessible and located near infrastructure, powerlines and is within 15 km of Houston, B.C. in an area of historic and current mine development. One such development is Artemis Metals/New Gold Inc.'s Blackwater gold deposit, situated 200 km southeast of Emerson in a similar geological setting that includes Upper Cretaceous Kasalka group intermediate to felsic tuff and flows intruded by coeval stocks.
Harvest Gold's' President and CEO Rick Mark said: "In what turns out to be excellent timing supporting Harvest's decision to acquire the Emerson, Goathorn and Jacobite projects, Artemis Metals recently announced the purchase of the Blackwater gold deposit from New Gold Inc. for a cash consideration in excess of $200 million. We believe this illustrates the potential value of our commitment to this District. Adding this extension to our Emerson project came on the advice of our Technical Advisor, Henry Awmack, who did all the investigative work resulting in Harvest's decision to acquire permits over the entire magnetic low adjacent to the original Emerson project area.
The Emerson Project
The 50 km2 Emerson property consists of 14 contiguous mineral claims located 15 km west of Houston, B.C. with a nearby railroad, high voltage powerline and gas pipeline. Emerson contains a 400 x 1000m feldspar-quartz porphyry stock or sill dated in 2019 at 71.06+-0.40 Ma that intrudes roughly coeval Kasalka Group intermediate to felsic tuffs and flows. Where exposed, the feldspar-quartz porphyry is universally affected by a gold-bearing pervasive quartz-white mica-pyrite alteration which is commonly cut by quartz-pyrite veinlets. Zonation is indicated by Kasalka Group volcaniclastics southeast of the porphyry stock or sill affected by clay-quartz-pyrite alteration without Mo or Au anomalism. The Emerson property clearly hosts a large, strong, hydrothermal system. Evidence to date is permissive for two significant deposit types: (1) a Blackwater-style Au-Ag deposit; and (2) a Cu+-Au+-Mo porphyry deposit. An extensive IP survey is proposed to generate drill targets which will test either or both possibilities.
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Figure 1: Regional geology for the Emerson project showing new staking to cover entire magnetic low.
Harvest Gold acknowledges that Emerson is situated in the traditional territory of the Wet'suet'en First Nation. Harvest Gold is committed to developing a positive and mutually beneficial relationship based on respect and transparency with the Wet'suet'en Nation.
Further information on the Emerson, Goathorn and Jacobite projects, including detailed maps, are available at the Company's website www.harvestgoldcorp.com.
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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark,
President and CEO
Harvest Gold Corp.
For more information please contact:
Rick Mark or Jan Urata
@ 604.682.2928 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold Corp. (the "Company") expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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