Harte Gold Provides Operations and Exploration Update

by pmnationtalk on December 12, 2018316 Views

Toronto – December 11, 2018 – HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt:

H4O) is pleased to provide the following update on its commercial operations and exploration activities.

HIGHLIGHTS

The Sugar Zone Mill complex is achieving consistent throughput of 575 tonnes per day. Over 24,000 tonnes of material has been processed through the mill year-to-date. The Company is on track to declare commercial production by year-end.
A flotation concentrate at higher than expected grades is being shipped to the Horne Smelter for processing. Gold is also is being recovered through a gravity circuit at site and shipped in the form of doré bars.
High grade mineralization at the Middle Zone has extended to near surface. Hole WZ-18-207 returned 44 g/t over 2.52 metres at 100 metres.
Mineralization of the Middle Zone has extended 250 metres along strike at 750 metres below surface, converging with the Wolf Zone at depth. Hole WZ-18-220 returned 80 g/t over 2.00 metres, hole WZ-18-221 returned 7.39 g/t over 2.06 metres and hole WZ-18-221W returned 5.14 g/t over 2.08 metres.
Infill drilling is now complete and a NI 43-101 Mineral Resource Estimate is being prepared on the basis of drilling completed in 2018. Based on assays received to-date, the Company expects a significant upgrade in the tonnes and grade of Indicated Mineral Resources. The Company is targeting to announce an updated Mineral Resource Estimate in Q1 2019.
An agreement has been reached with Appian Natural Resources Fund (“Appian”) to extend the US$20 million subordinated loan facility to May 9, 2019 on similar terms and conditions. The Company will provide further details on the extension upon execution of the agreement and subject to exchange approval.

Stephen G. Roman, President and CEO, commented, “We are extremely pleased with the Harte Gold operations team and Halyard Inc., who have turned this mill on and made it run without any major issues. Congratulations.”

Mr. Roman added, “Middle Zone expansion reinforces the Company’s belief that the Sugar, Middle and Wolf Zones are fed from a much larger system converging at depth. We plan to continue testing this theory with further exploration in 2019, assisted by downhole geophysics.”

OPERATIONS UPDATE

Operations at the mill have been stabilized and the Company is achieving its permitted throughput target of 575 tpd. The mill is currently being fed from higher grade underground material and the surface stockpile, but will transition solely to underground material by early 2019.

Mine planning for 2019 and life-of-mine is underway and will incorporate a significant amount of definition drilling completed in 2018 which was not included in the Preliminary Economic Assessment (“PEA”). The Company will provide further guidance when this work is complete, targeted for the beginning of 2019.

NT4