Provides Operational and Corporate Update
TORONTO, July 04, 2019 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to provide the following update.
- Near mine exploration has returned the following:
- Sugar Zone drilling has extended mineralization 200 meters to the south and remains open along strike. Hole SZ-19-271 returned 27.6 g/t Au over 1.68 meters.
- In the parallel Upper Zone area, mineralization has been extended along strike and down dip. The expansion of this area was identified following Sugar Zone ramp development and is adding potentially mineable resources.
- In Q1, the Company produced 5,476 ounces of gold and for April and May produced 5,438 ounces, for a total to the end of May of 10,914 ounces. Final production figures for June are forthcoming.
- Mill operations are stabilized and have demonstrated the capacity to run at 800 tpd while maintaining planned recoveries.
- Ramp up of underground operations continues. Mine production is currently coming from sill development and stopes in the Sugar Zone south area.
- Surface stockpiles were drawn to supplement underground mine production in May and June.
- Development of the Sugar Zone north limb continues, stope production is expected by September.
- When the Sugar Zone north and south limbs are both operational, the Company expects to supply the mill solely from run-of-mine (ROM) production.
- The Company is on track achieve this by Q4 2019, consistent with the Feasibility Study plan.
- The Company reminds shareholders of the upcoming Annual and Special Meeting of shareholders, to be held July 4, 2019 at 10:30 am Eastern Time. Please see press release dated July 3, 2019 for further details.
Stephen G. Roman, President and CEO of Harte Gold, commented, “Our next milestones at the Sugar Zone Mine are to maximize throughput and supply the mill with consistent, higher grade, run-of-mine ore. Our target is to achieve this by the fourth quarter of 2019, consistent with our Feasibility Plan.”
Mr. Roman added, “Mill throughput continues to perform as expected and 800 tpd has been achieved. Our focus continues to be on the ramp up of underground operations. We are reinvesting cash flow from gold production into underground development and will continue to do so for the remainder of this year.”
- Stope ore was mined at the 140 and 155 levels of the Sugar Zone south area. Mined stopes are coming out as planned with minimal external dilution.
- Ore production was lower than target for the months of May and June due to lack of stope availability and ventilation development, reducing daily performance.
- Ventilation work was recently completed and mine performance will improve as post-blast smoke clearing will be more efficient.
- Development at the Sugar Zone north limb is underway. Stope production from this area is expected to start in September to support the continued ramp up of mine production.
- Mill throughput exceeded plan for the second quarter of 2019.
- Mine production was supplemented with surface stockpiles for May and June to meet throughput guidance.
- Remaining surface stockpiles are estimated to contain approximately 6,000 tonnes averaging 2.5 g/t.
- Higher recoveries are expected as higher grade material is processed through the mill.
Near Mine Exploration
Exploration along strike and to the south continues to intersect high grade mineralization. The Company has been successful in extending mineralization by 200 meters to the south of the Sugar Zone Mine and will continue drilling in the area to expand resources.
| Zone South Extension Drilling |
|Hole #||From||To||Grade (g/t Auw)||Width (m)|
|(core intersection lengths approximate 80% true width, assay results are uncut, fire assay with metallic screen on samples >10 g/t)|
Qualified Persons and NI 43-101 Disclosure
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 Activation 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. Channel and Chip samples were sent to Wesdome Mines lab in Wawa, ON. 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.
Robert Kusins, P. Geo., Harte Gold’s Senior Mineral Resource geologist, is the Company’s Qualified Person and has prepared, supervised the preparation, or approved the scientific and technical disclosure in this news release.
About Harte Gold Corp.
Harte Gold is Ontario’s newest gold producer through its wholly owned Sugar Zone Mine in White River Ontario. Using a 3 g/t gold cut-off, the NI 43-101 compliant Mineral Resource Estimate dated February 19, 2019 contains an Indicated Mineral Resource of 4,243,000 tonnes grading 8.12 g/t Au with 1,108,000 ounces contained gold and an Inferred Mineral Resource of 2,954,000 tonnes, grading 5.88 g/t Au with 558,000 ounces contained gold.
A NI 43-101 compliant Feasibility Study was completed on the Sugar Zone Mine effective February 15, 2019 calculating total Reserves of 3,879,000 tonnes grading 7.1 g/t Au with 890,000 ounces of gold. Exploration continues on the Sugar Zone Property, which encompasses 79,335 hectares covering a significant greenstone belt.
For further information, please contact:
Stephen G. Roman
President and CEO
Vice President, Corporate Development
This news release includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of Management 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. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by the Company. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements. Statements in relation to "reserves" or “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves or resources described may be profitably produced in the future.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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