Harvest GOLD Options Three Highly Prospective Early Stage Copper-GOLD Porphyry Projects IN British Columbia
HARVEST GOLD OPTIONS THREE HIGHLY PROSPECTIVE EARLY STAGE
COPPER-GOLD PORPHYRY PROJECTS IN BRITISH COLUMBIA
Vancouver, British Columbia / June 23, 2020 - Harvest Gold Corporation (TSX.V: HVG)
(“Harvest Gold” or the “ Company”) is pleased to announce that it has entered into an Option
Agreement with two private B.C. companies, Running Dog Resources Ltd. (“Running Dog”) and
Attunga Holdings Inc. (“Attunga”) (or collectively, “the Vendors”) whereby Harvest Gold can
earn up to an 100% interest in up to three early stage Copper -Gold porphyry projects located in
the Omineca Mining Division of central B.C. The three projects cover a combined 46 square
kilometers, are road accessible and located near infrastructure, powerlines and the population
centers of Houston, Smithers and Telkwa, B.C. in an area of historic and current mine
development. All three projects are owned 100 % by Running Dog and Attunga without any
underlying royalties or encumbrances and have been subjected to very limited modern
exploration in the past 30 years.
Harvest Gold’s’ President and CEO Rick Mark s aid: “ The Emerson, Jacobite and Goathorn
projects represent the culmination of seven years of geological sleuthing by Henry Awmack P.
Eng. and David Caulfield P. Geo. the principals of Running Dog and Attunga , They are highly
respected BC exploration geologists and original co-founders of Equity Engineering Ltd.
Harvest’s technical team w as attracted to these prospects as they represent low cost, early stage
opportunities for Harvest to identify large scale porphyry deposits in a world class belt of
producing and past-producing mines.
We plan to clearly define porphyry drill targets and then find senior partners, specifically major
mining companies , to drill these targets in search of the next porphyry discovery in BC. We
believe the timing is excellent as Gol d seems to have stabilized near $ 1700 and consensus
predictions are for Copper prices to rebound in 2021. And, we are delighted that Henry Awmack
has agreed to join our technical advisory board and will help guide our exploration efforts . We
look forward to advancing these projects together.”
Henry Awmack, the President of Running Dog Resources shared his vision of the prospectivity of
the three projects: “ David and I spent 26 years running a geological consulting company,
exploring our clients’ properties and understanding the necessary ingredients for their success,
both technically and financially. Now that I am semi-retired, I have spent the past 7 years looking
for prospects that have those ingredients, compiling and interpreting public geoscience data. In
British Columbia, I have been drawn towards porphyry targets because they have the best chance
of becoming significant mines here and ultimately attracting fin ancing from the major mining
companies. We look forward to supporting Harvest Gold’s work.”
HARVEST GOLD CORP.
Suite 804 – 750 West Pender Street
Vancouver, BC V6C 2T7
T: (604) 682-2928
F: (604) 685-6905
W: www.harvestgoldcorp.com
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A Technical Description of the Emerson, Goathorn and Jacobite Projects
Summary
Emerson, Goathorn and Jakobite are located within British Columbia’s Stikine Terrane in west -
central British Columbia (Figure 1.) Several intrusive suites cut Stikine Terrane volcanic and
sedimentary rocks in the vicinity of the three properties, the most important of which are the
Bulkley (61-85 Ma) and Babine (~50 Ma) Plutonic Suites. Successful open pit mines have been
developed on Cu-Au porphyry deposits belonging to both the Bulkley and Babine suites over the
past few decades including past producers Granisle, Bell Copper, and Huckleberry. (Figure 1).
Figure 1: Location map for the Emerson, Goathorn and Jacobite projects
The Emerson Project
The 10.7 km2 Emerson property consists of five 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. A 2019 rock sample from
quartz stockwork assayed 0.762 ppm Au. 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. Fourteen geochemical rock samples were taken at Emerson in 2019, six of which
were described petrographically. Historic soil sampling reveals a strong coincident Ag-Mo-Pb-Au
geochemical anomaly which trends west-southwesterly for 500 x 1,100 m on the Emerson
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property. In many areas, shallow glacial material masks the bedrock, and renders soil
geochemistry ineffective. Further north and west, a historic IP survey revealed an open-ended
chargeability high and accompanying resistivity low over 1.9 x 2.1 km that covers the soil
anomaly and extends north and west from it. In part, the chargeability high reflects the 2-10%
pyrite within the alteration seen in 2019 and probably indicates a much greater extent for it
(Figure 2). 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.
Figure 2: Composite map of historic Ag-Mo-Pb-Au geochemical anomaly and IP survey on Emerson property
The Goathorn Project
The 17.8 km 2 Goathorn property consists of five contiguous mineral claims located 10 km south
of Telkwa, B.C. The southwestern half of the property has been extensively logged in the past 10
years and a gas pipeline, railroad, paved highway and two high -voltage powerlines pass within
five km of the property boundaries. Goathorn may host the upper levels of a porphyry prospect
which has received no modern exploration and has never been drilled . The northwestern corner
of the Goathorn property is underlain by an unaltered and non -magnetic Bulkley Plutonic Suite
coarse feldspar-quartz porphyry stock. It is separated by the major north easterly-trending West
Fault from a package of non -magnetic Hazelton Group volcaniclastic rocks which have locally
been Kspar-altered and extensively converted to a clay -magnetite-epidote skarn. The magnetite
skarn has been mapped in road -cuts over 900 x 1,600 m but an airborne magnetic high suggests
that it may extend over an area of 900 x 2,600 m (Figure 3). The volcaniclastics and magne tite
skarn have been intruded by at least four phases of plagioclase -phyric dykes and plugs. U -Pb
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age-dating of one of these dykes in 2019 showed it to be 71.76±0.55Ma, within the age range of
the Bulkley Plutonic Suite. The isolated magnetic high and th e four phases of porphyritic dyking
suggest a differentiated intrusive at depth. The poorly understood Kspar alteration, extensive
magnetite skarn and two Cu-bearing Minfile occurrences suggest a source of hydrothermal fluids
associated with that intrusive. Historic work by prior operators has identified s potty high Zn-Pb-
Ag-As soil geochemistry and a chargeability high at the northeastern extremity of the property
that suggests a pyrite halo and associated mineralization commonly peripheral to a porphyry
system. High Au (ppm):Cu (%) ratios of 0.96 to 3.11 of four samples taken from a chalcopyrite-
bearing dyke swarm within the magnetite skarn (Table 1) suggest that the underlying porphyry
system could be relatively gold-rich. The large potential size of this inferred porphyry system is
given by : (1) the 1.7x 2.6 km magnetic high ; (2) the 2.8 kilometres between the centre of the
magnetic high and the inner edge of the pyrite halo and (3) the 1.5-3.5 km wide fault block which
hosts it.
Table 1: Quartz Monzonite Rock Samples collected at Goathorn Prospect in 2018 -2019
Sample Type Au (ppm) Cu (ppm) Mo (ppm) Zn (ppm) Au/Cu Ratio1
Q932311 Grab 0.209 673 3 83 3.11
Q932316 Subcrop 0.254 954 21 152 2.66
Q932680 Subcrop 0.074 409 3 87 1.81
Q932681 Grab 0.088 917 13 107 0.96
1 Au/Cu ratio is defined as Au (ppm) / Cu (%)
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Figure 3: Geoscience BC 2015 “SEARCH” project helicopter -borne magnetic survey with 250 m line -spacing
over the Goathorn property showing northeast orientation of 1.7 x 2.6 km magnetic high
The Jacobite Project
The road-accessible Jacobite property consists of 11 contiguous mineral claims covering 17.7
km2 that are located 70 km NNE of Smithers and 55 km NE of Hazelton, B.C. On the Jacobite
property, both Bulkley and Babine intrusives cut Cretaceous stratified rocks (Skeena Group
clastics to the west and Kasalka Group andesites to the east). A 50 to 500 metre wide by >1,600
metre long east-west Babine feldspar±hornblende±biotite porphyry dyke runs along the southern
property boundary. The dyke has been affected by a complex pattern of alteration ranging from
no alteration to propylitic to phyllic alteration. A few outcrops of quartz -feldspar porphyry and
granodiorite to it s west are believed to be apophyses of the Bulkley stock exposed south of the
Jacobite property. No significant mineralization has yet been found on the property. In 2019, a
former operator cut five 2500 -2700 m lines separated by 400 to 800 m in preparation for an IP
survey which was not completed before the project was returned to the Vendors. One hundred
and forty soil samples were collected at 50 or 100 m intervals along the cut lines, yielding a 750
metre interval along one line with 8 soil samples ex ceeding 8.9 ppm Mo (>80th percentile) and
another 3 exceeding 500 ppm Cu (>98th percentile) (Figure 4) . A porphyry exploration target
measuring 500 x 950 metres is suggested by historic IP and ground magnetic surveys and the
2019 soil geochemistry in an area with no mapped outcrops. The target contains anomalous Mo-
in-soil and Cu -in-soil values within an area of moderate chargeability response and moderately
high magnetic response on the flanks of a c hargeability high. The geophysical and geochemical
signature could represent mineralized potassic alteration surrounded by a pyrite halo, similar to
the setting of the Granisle and Bell Copper porphyry deposits of the Babine Plutonic Suite. The
property has never been drilled.
Pyrite halo
Anomalous Cu, M o in
2019 soil samples
639 ppm Cu
1170 ppm Cu
545 ppm Cu
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Figure 4: Jacobite property: Map image showing pyritic halo above treeline; along with 2019 soil sample
locations and highest values on new induced polarization (“IP”) cut lines that were 400 m apart. Chargeability
and magnetics data overlay from a 1972 ground magnetics and dipole-dipole IP survey with “a” spacing of 91 m
and n=1 -3. The main target area lies above the east -west white line that signifies the limit of glacial till
deposition.
Phase 1 Exploration Plans
A Phase 1 Field Program being finalized by Harvest Gold and Running Dog and Attunga will
require approximately two months with a proposed budget of $450,000 and is designed to provide
the information required to establish drill targets.
At Emerson, t he proposed program includes a ground-based pole-dipole IP survey along with a
tightly focussed magnetics survey.
At Goathorn, an IP survey is proposed between the bounding faults and symmetrically around the
magnetic high . Lines w ould be cut at 400 m intervals and soil samples are contemplated to
collected at 100 m intervals on the cut-lines.
At Jacobite, additional lines would be cut to permit an IP survey with 200 m spacings in the
vicinity of the high Cu soil samples collected in 2019, along with soil sampling at 100 m spacings
on all new cut-lines. Mapping, prospecting and sampling are proposed to be conducted along the
cut-lines. And, a tight (50 – 100 m line -spacing) drone magnetics survey is being considered
over a historic magnetic high and the 2019 Cu-Mo soil anomalies.
The object of the Phase 1 program is to provide multiple drill targets for a minimum 3,000 metre
diamond drill program contemplated for as early as the fall of 2021. Due to Covid-19 travel and
work restrictions, the parties have agreed that the 2020 Phase 1 work program may need to be
postponed until early in the 2021 field season.
About the Emerson, Goathorn and Jacobite Option Agreement
Under the terms of the Ag reement, which is subject to TSX Venture Exchange ("TSX.V")
approval, Harvest Gold can earn a 100% interest in any or all of the three projects by completing
the following:
Time Exploration (CDN) Cash (CDN) Shares*
TSX.V Approval - $35,000 for all three
projects
-
December 31, 2021 $450,000 $20,000 per property or $22,000 in shares
December 31, 2022 - $25,000 per property or $27,500 in shares
December 31, 2023 - $50,000 per property or $55,000 in shares
December 31, 2024 - $75,000 per property or $82,500 in shares
TOTAL $450,000 Minimum: $35,000;
Maximum: $545,000
* Shares valued at the greater of the 20 day volume weighted average price or discounted market value prior to
December 31 of each year.
Once Harvest Gold has completed the Phase 1 work program it will have until December 31,
2021 to elect to retain one or more of the three projects or return any not selected to the Vendors
with two years good standing. Providing that Harvest Gold continues to make cash payments or
equivalent payments in shares on the anniversary dates it will earn a 10 0% interest in each
project, subject to a 1.5% NSR royalty in favour of th e Vendors. One half of the NSR royalty
(0.75%) may be purchased for $500,000 prior to the publication of a mineral resource or for
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$1,500,000 thereafter. The Vendors will also be entitled to annual Advance Royalty Payments
(“ARP”) of $5,000 per project pe r year for four years commencing December 31, 2025 and
increasing to $10,000 per project per year for four years commencing December 31, 2029 .
Thereafter and continuing for as long as Harvest or successor owns the permits , the annual ARP
will increase to $20,000 per project. All amounts provided as advance royalty payments can be
paid in shares, at Harvest Gold’s option and will be de ductible from future NSR royalty
payments.
Harvest Gold acknowledges that Emerson and Goathorn are situated in the traditional territory of
the Wet’suet’en First Nation while Jacobite is in the traditional territory of the Lake Babine First
Nation. Harvest Gold is committed to developing a positive and mutually beneficial relationship
based on respect and transparency with these first Nations.
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 Direc tor 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.
Emerson and Goathorn rock sample preparation and geochemical analysis were undertaken by
ALS Minerals at their North Vancouver facility. All 2019 rock samples were analyzed for gold
(AU-AA23) and 35 elements by ICP - AES using an aqua regia digestion (ME -ICP41). In
addition, 2018 Goathorn sample Q932311 was re -analyzed (as Q932315) for a suite of whole
rock major and trace elements by fusion/XRF (ME -XRF26) and lithium borate fusion ICP -MS
(ME-MS81).
Sample preparation and chemical analyses for the 2019 Jacobite soil sa mples were done by ALS
Minerals in Terrace and North Vancouver. Unsplit s oil samples were screened to -180μ then
analyzed for gold (AU -AA23) and 50 elements by ICP -MS using an aqua regia digestion (ME -
MS41). Given the limited number of 2019 geochemical s amples, no QA/QC analyses (blanks,
duplicates, standards) were performed except for those from the internal laboratory QA/QC
protocol.
Six Emerson and t wo Goathorn rock specimens were submitted for polished thin section
preparation to Vancouver Petrographi cs in Langley, BC. These polished sections were described
petrographically by Dr. Fabrizio Colombo of Ultra Petrography & Geoscience Inc.
U-Pb geochronometry analysis was conducted on selected altered quartz -feldspar porphyry rock
samples from Emerson and Goathorn at the Pacific Centre for Isotopic and Geochemical
Research at UBC in Vancouver.
About Harvest Gold
Harvest Gold is a gold focused mineral exploration company with a n experienced Board of
Directors and management whose collective geological and financing experience exceeds 200
years.
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ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark,
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.682.2928 or [email protected]
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 Corporation (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 express ed 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 r esults 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 opin ions 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.