Harte Gold Corp.: Sugar Zone Block Model Completed, Deep Drilling Begins
January 12 2012 - 6:00AM
Marketwired Canada
HARTE GOLD CORP. ("Harte") (TSX:HRT)(FRANKFURT:H4O) is pleased to provide an
update of current development and exploration initiatives at the Sugar Zone
property.
Highlights:
-- A Block Model mineral resource estimate completed by Watts, Griffis and
McOuat Limited ("WGM") incorporating 2011 Sugar Zone drilling, confirms
continuity of Sugar Zone gold mineralization; an updated National
Instrument 43-101 ("NI 43-101") Report will be completed within 45 days
of today's date
-- 7,000 meter drill program will focus on areas of high grade gold
mineralization encountered between the 500-700 meter levels and test a
large Induced Polarization ("IP") target between 600 - 1,000 meters
identified in the summer 2011 down-hole geophysics program
-- NordMin Engineering Ltd. ("NordMin") has been retained to complete a
Preliminary Economic Assessment ("PEA") and to coordinate advanced
exploration and production permitting
-- Late 2011 exploration drilling in the area of the Fold Nose and Sugar
Zone East show favourable geology, but no significant gold values were
encountered to date. Systematic testing of numerous IP and Magnetometer
targets will continue on the Sugar Zone property.
Sugar Zone Deposit Development Program
An Initial Block Model of the Sugar Zone Deposit has been completed by WGM and
includes NI 43-101 compliant uncapped and capped (Upper Zone - capped at 30 g/t
Au, Lower Zone - capped at 50 g/t Au) mineral resource estimates.
Uncapped mineral resources consist of an indicated resource of 980,900 tonnes,
grading 10.13 g/t Au for 319,280 ounces of contained gold and an inferred
resource of 580,500 tonnes grading 8.36 g/t Au for 155,960 ounces of contained
gold. The corresponding capped mineral resources consist of an indicated
resource of 274,970 ounces of contained gold grading 8.72 g/t Au and an inferred
Resource of 131,280 ounces of contained gold grading 7.03 g/t Au. Please see
table below for additional information.
The Company has engaged Major Drilling Group International Inc. to complete a
minimum 7,000 meter program below the current Sugar Zone Deposit. The drill
program is designed to confirm down dip continuity and add to the current
mineral resource. The current drill program will also test a large IP target
located within the 600 - 1,000 meter levels which was identified under the
summer 2011 down-hole geophysics program. The Block Model will be updated to
include drill results from the winter 2012 deep drill program once completed.
NordMin is located in Thunder Bay, Ontario with a focus on the mining industry.
NordMin is currently involved in preliminary technical studies and permitting
applications related to advanced exploration, underground bulk sample work and
production at the Sugar Zone Deposit. As part of the above work, NordMin is also
completing a PEA which will include results from the winter 2012 drill program.
The PEA will define preliminary Sugar Zone Deposit project economics.
Regional Exploration Program
In addition to the above production focused initiatives, Harte is moving forward
with systematic ground prospecting, sampling and geophysics over the Sugar Zone
Property. To date, approximately 30% of the property has been covered with some
form of geophysics including airborne magnetometer, IP and limited down-hole IP
surveys. Targets of interest will continue to be drill tested as Harte
systematically covers the claim group with its wider exploration initiatives.
Of particular note is an area west of the Sugar Zone Deposit where an abundance
of high grade boulders have been found which appear to coincide with the contact
zone between a sedimentary unit and a volcanic unit. IP will be done over this
area followed by drill testing.
Block Model
The Mineral Resource estimate was completed by WGM, Consulting Geologists and
Engineers of Toronto, Canada, and complies with NI 43-101 guidelines and
Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions.
Indicated and Inferred Mineral Resources have been determined for two sub-zones
in the Sugar Zone; the Upper Zone and the Lower Zone as shown in the table
below.
Sugar Zone Mineral Resources - 3.0 g/t Au Cutoff
----------------------------------------------------------------------------
Zone/Category Tonnes Au (g/t) Ounces Au (g/t) Ounces
(Uncapped) (Uncapped) (Capped) (Capped)
----------------------------------------------------------------------------
Upper Zone
----------------------------------------------------------------------------
Indicated 240,400 6.94 53,560 6.31 48,770
----------------------------------------------------------------------------
Inferred 38,700 4.65 5,790 4.56 5,670
----------------------------------------------------------------------------
Lower Zone
----------------------------------------------------------------------------
Indicated 740,500 11.16 265,720 9.50 226,200
----------------------------------------------------------------------------
Inferred 541,800 8.62 150,170 7.21 125,610
----------------------------------------------------------------------------
Total Mineral Resources
----------------------------------------------------------------------------
Indicated 980,900 10.13 319,280 8.72 274,970
----------------------------------------------------------------------------
Inferred 580,500 8.36 155,960 7.03 131,280
----------------------------------------------------------------------------
Notes:
1. Interpretation of the mineralized zones was created as 3D
wireframes/solids based on a 0.5 g/t Au cutoff grade.
2. Mineral Resources were estimated using a block model with a block size
of 1m x 3m x 1 m.
3. Grade capping was done on 0.5 m composited assays; Upper Zone was capped
at 30 g/t Au and Lower Zone was capped at 50 g/t Au. Tonnages and grades
reported above are undiluted.
4. Assumed gold price was US$1,100/ounce.
5. Mineral Resources which are not Mineral Reserves do not have
demonstrated economic viability. The estimate of Mineral Resources may
be materially affected by environmental, permitting, legal, title,
socio-political, marketing, or other relevant issues;
6. The quantity and grade of reported Inferred Mineral Resources in this
estimation are uncertain in nature and there has been insufficient
exploration to define these Inferred Resources as an Indicated or
Measured Mineral Resource and it is uncertain if further exploration
will result in upgrading them to an Indicated or Measured Mineral
Resource category.
7. The Mineral Resources were estimated using the Canadian Institute of
Mining, Metallurgy and Petroleum (CIM) Standards for Mineral Resources
and Reserves, Definitions and Guidelines prepared by the CIM Standing
Committee on Reserve Definitions and adopted by CIM Council December 11,
2005.
Assay grades were composited to a minimum of 1.5 meters horizontal width based
on the interpreted dip of the zones. Unsampled intervals were included in the
composites at nil grades. The gold grade cutoff value of 3.0 g/t Au is based on
the assumption that the deposit is of a potential size and nature to allow for
possible underground mining. The cutoff of 3.0 g/t Au was derived from recent
technical reports filed on SEDAR and in-house technical data from WGM for
similar deposit types. Specific Gravity used in these estimates was 2.62 t/m3
and recoveries are assumed to be 100%.
The Independent Qualified Person for the NI 43-101 compliant Mineral Resource
estimate is Michael W. Kociumbas, B.Sc., P.Geo. of WGM and he has verified the
data disclosed in this release. The NI 43-101 technical report on the Mineral
Resource estimate will be filed on SEDAR within 45 days of this news release.
QA / QC Statement
Diamond drill holes were drilled with NQ sized core in order to obtain larger
sample volumes of the mineralized zones. The core was sealed and delivered by
the drilling contractor to Harte's facilities located in White River, Ontario.
The mineralized sections of the cores were photographed for reference, logged
and mineralized sections were sawn in half. Sample lengths were 0.5 meters. Half
core samples were bagged, sealed and delivered to Activation Laboratories in
Thunder Bay, Ontario, an accredited laboratory. The remaining core is stored on
site for reference. Samples were assayed by the fire assay method using an
atomic absorption finish on a 50 gram pulp split. A quality assurance and
quality control program (QA/QC) was implemented by Harte and the laboratory to
ensure the precision and reproducibility of the analytical method and results.
The QA/QC program includes the insertion of standards, blanks and field
duplicates in the sample batches sent to the laboratory and a systematic re-
assaying of samples returning values above 3 g/t Au by the fire assay method
using a gravimetric finish.
Exploration programs are conducted under the supervision of George A. Flach, P.
Geo, Vice President Exploration, Harte Gold Corp. Mr. Flach is the Qualified
Person (QP) as defined in National Instrument 43-101 and has reviewed the
technical information contained herein.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with interests in the
Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The
Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp and
holds an NI 43-101 compliant Indicated Resource of 980,900 tonnes, grading 10.13
g/t for 319,280 ounces of contained gold (uncapped) and grading 8.72 g/t Au for
274,970 ounces of contained gold (capped) and an Inferred Resource of 580,500
tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped) and
grading 7.03 g/t Au for 131,280 ounces of contained gold (capped). Harte is the
operator of the Sugar Zone Property and currently owns a 49% interest with the
option to acquire the remaining 51%. Harte also holds the Stoughton-Abitibi
property located on and adjacent to the Destor-Porcupine Fault Zone in close
proximity to the 2.5 million ounce Holt-Holloway Gold Mine in the Timmins,
Ontario Porcupine gold camp.
Common Shares Outstanding: 164,888,114
To view Figure 1 of the Sugar Zone Project, please visit the following link:
http://media3.marketwire.com/docs/hrtf1.pdf
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