Harvest Gold Corporation
TSX VENTURE : HVG

Harvest Gold Corporation

October 23, 2007 09:00 ET

Harvest Gold Reports Initial Garcia Flats Project Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2007) - Harvest Gold Corporation (TSX VENTURE:HVG) (the "Company") along with its joint venture partner, Christopher James Gold Corporation (TSX VENTURE:CJG) have received gold fire assays, trace element geochemical results, and initial petrographic results from the first phase drilling program at the Garcia Flats gold project located at the southern extension of the Carlin Trend in north-central Nevada. Three holes totaling 5385 feet (1641 m) were drilled with a flooded reverse circulation drill rig.

Christopher James Gold Corp. Company President, Dr. Max Baker, states: "The three drill holes at Garcia Flats were positioned to test an enzyme leach geochemical anomaly, which was interpreted as the surface expression of a possible buried Carlin-type gold deposit. All three holes encountered what appears to be an epithermal-type alteration within what are interpreted as Eocene volcanics and interbedded limestones and volcanoclastics. The mineralization, which was intersected under several hundred metres of pediment cover, is low-grade and associated with anomalous gold and a suite of path-finder elements typical of both Carlin- and Epithermal-type mineralization. While we did not intersect potentially economic-grade Carlin-Type mineralization, we are very encouraged that the Enzyme Leach geochemistry was able to detect low-grade gold mineralization concealed under several hundred metres of cover. Because of this success, we have agreed in principle with Harvest Gold Corp to create a Joint Venture designed to seek out additional pediment exploration opportunities in Nevada."

A high of 0.08 grams/tonne ("g/t") gold (Au) was intersected in reverse circulation (r/c) hole GFR-3 at 1615-1620 feet (492-494 m). This occurs at the top of a zone of hydrothermal carbonate replacing felsic volcanic and volcaniclastic rocks and appears to be within a transition zone between volcanic rocks above and volcaniclastic rocks below. Limestone occurs from 1700 feet (518 m) to the bottom of the hole at 2255 feet (687 m) and contains several five foot intercepts with weakly anomalous gold, arsenic, antimony, molybdenum, tellurium and mercury.

Approximately 1050 feet (320 m) to the west, r/c hole GFR-2 contains three separate five foot intercepts in carbonate-altered volcaniclastic units ranging from 0.024 g/t to 0.039 g/t Au at 1625-1630 feet (495-497 m), 1680-1685 feet (512-514 m), and 1700-1705 feet (518-520 m) respectively. The mineralized intercept is strongly anomalous in barium and weakly anomalous in thallium.

Reverse circulation hole GFR-1 is approximately 4080 feet (1244 m) east of r/c hole GFR-3 and includes a broad zone from 690 feet (210 m) to 910 feet (277 m) that is anomalous in gold, arsenic, mercury, molybdenum, antimony, thallium, selenium, and barium. This anomalous geochemistry is hosted in limestone and carbonate-altered sedimentary and/or volcaniclastic rocks in the footwall of an interpreted fault zone.

Drill targets at Garcia Flats were delineated by evaluating coincident enzyme leach geochemical anomalies with gravity, and magnetic features, in a geologic environment considered favorable for Carlin-type mineralization. The Eocene Volcanics and intercalated sediments which host the intersected mineralization are not the typical host assemblage for Carlin-type mineralization, however the interpreted age of the host-rocks and the associated mineralization is similar to that of typical Carlin-type deposits.

About the Garcia Flats Gold Project

The Garcia Flats project comprises 250 unpatented mining claims covering approximately 20 square kilometers (approximately 4940 acres) in two claim blocks within a covered pediment setting.

The Company has the option to earn an undivided 70% interest in the project by incurring a total of U.S. $ 2,500,000 in exploration expenditures on the project, and issuing a total of 225,000 shares of CJG to Harvest Gold Corp. over three years, including expenditures of at least U.S. $ 500,000 in year one.

To view Garcia Flats data, please visit http://christopherjamesgold.com.

Quality Assurance and Control

The first phase drilling program and interpretation of data was conducted under the supervision of Gregory T. Hill, CPG, a "qualified person" under National Instrument 43-101 ("NI 43-101").

Mineralized intervals reported are down-hole lengths and may not represent the true width of mineralization: grades are reported as weighed averages; drill chip recoveries were sufficiently high that no adjustments were applied to reported grades to compensate for sample loss.

About Christopher James Gold Corp.

Christopher James Gold Corp. is a Canadian mineral exploration company trading on the TSX Venture Exchange under the ticker symbol "CJG". The Company currently has over $ 5.5 million in its treasury and is actively reviewing gold exploration projects with the potential to develop multi-million ounce resources.

The Company has the exclusive option to acquire 100% of Guardsmen Resources Inc., a private company that owns several highly prospective properties in northern British Columbia, including the Ranch and Lawyers properties. In southern British Columbia the Company owns 100% of the copper and gold rights to the historic Craigmont mine, in addition to 100% ownership of the Brassie Creek, Big Kidd, and Portage Lake (Little Fort) gold properties.

About Harvest Gold Corp.

Harvest Gold Corporation is a gold focused exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company is exploring a large generative gold property at Garcia Flats in the South Carlin Trend, an advanced property with a gold-silver resource at the Longstreet Mine, in Northern Nye County, and the Rosebud Mine Project, a past producing mine in northwest Nevada. Harvest is also exploring claims in Manitoba, Canada at the Rice Lake Gold Belt, the Rocky Ridge Gold property in the Lac du Bonnet mining district, and is Joint Ventured with Canadian Gold Hunter Corp (TSX:CGH) at the Assean Lake Gold Project.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, CEO & Chairman

The TSX Venture Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Harvest Gold Corporation
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604)-986-2021 (FAX)
    Website: www.harvestgoldcorp.com
    or
    First Canadian Capital Corp.
    Dan Boase
    (416) 742-5600 ext. 232 or Toll Free: 1-866-580-8891
    Email: dboase@firstcanadiancapital.com