Harte Gold Provides Bulk Sample, Exploration and Common Share Purchase Warrant Update
May 12, 2016 (Source) — HARTE GOLD CORP. (“Harte Gold”) (TSX:HRT)(OTC:HRTFF)(FRANKFURT:H4O) is pleased to provide an update today on the Company’s activities:
Bulk Sample Ore Shipments
Harte Gold is pleased to report that shipments of Bulk Sample ore to Barrick Gold Inc. (“Barrick”) for processing at the Hemlo Mill are running on schedule. The shipments are part of Harte Gold’s 70,000 tonne Advanced Exploration Bulk Sample at the Sugar Zone property in northern Ontario. Mining operations under the Bulk Sample are on budget and on schedule. Currently the ramp has progressed over 800 meters with the first ore development sill on the “375 level” nearing completion. The second ore development sill on the “360 level” is scheduled to begin May 24th. The first production blast between levels is scheduled for June 30, 2016. Harte Gold is currently shipping “development ore” to the Hemlo Mill. “Production ore” mined by long hole stopping, will begin early July. As per Barrick requirements, ore shipped to Hemlo must average 5 g/t or higher. Harte Gold shipments to date exceed this requirement.
Exploration Program – 3D Geophysics Survey and Drill Program
Crone Geophysics and Exploration Ltd. (“Crone”) has mobilized crew and equipment to site and begun Survey work. As previously announced (see News Release dated April 24, 2016), Crone will conduct a 3D IP/Resistivity Survey to a depth of > 600 meters, over the 2 km distance between the Sugar Zone Deposit and the Wolf Zone.
The goal of the Survey is to identify geophysical targets and confirm the continuity of gold mineralization between the Sugar Zone Deposit and Wolf Zone. The Survey will be conducted over a 2.3 km x 1.5 km area on 25 meter centers and overlap the northern end of the Sugar Zone Deposit and southern end of the Wolf Zone to provide structural baseline data. The Survey should be completed in early June and will be followed by a 5,000 meter drill program to test anticipated new geophysical targets. The drill program is expected to run through September, 2016.
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Common Share Purchase Warrants
Harte Gold also announced that the Board of Directors has determined that in the best interest of shareholders, Harte Gold will not exercise its right to accelerate the expiry date of Common Share Purchase Warrants currently outstanding, from the date hereof through September 30, 2016. Going forward, the Board of Directors will decide on a quarterly basis, whether to approve the exercise of Harte Gold’s right to accelerate the expiry date of Common Share Purchase Warrants then currently outstanding and advise shareholders accordingly.
About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property where it has permitted a 70,000 tonne Advanced Exploration Bulk Sample for the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometers east of the Hemlo Gold Camp and as per the Preliminary Economic Assessment dated July 12, 2012, contains an Indicated Resource of 980,900 tonnes, grading 10.13 g/t for 319,280 ounces of contained gold (uncapped) and an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped). The mineral resource was prepared in compliance with NI 43-101 guidelines. George A. Flach P. Geo, Vice President Exploration, is the Qualified Person for Harte Gold. Harte Gold also holds the Stoughton- Abitibi property located on the Destor-Porcupine Fault Zone which is adjacent to and on strike of Lakeshore Gold’s Holloway Gold Mine.
Common Shares Outstanding: 320,660,577
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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