Harte Gold Corp.
TSX : HRT
FRANKFURT : H4O

Harte Gold Corp.

October 16, 2013 16:30 ET

Harte Gold Reports High Grade Assay Results

Drill Hole SZ-13-49 Averages 28.50 g/t Over 4.85m Including 94.96 g/t Over 1.35m

TORONTO, ONTARIO--(Marketwired - Oct. 16, 2013) - HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O) is pleased to announce assay results from the first five holes of its recently completed 17 hole definition drill program focused on the Jewelry Box Zone ("JBZ") area located at the north end of the Sugar Zone Deposit. Initial results suggest JBZ grades and widths are higher than the average for the Sugar Zone Deposit.

Hole # Zone From To Grade
(g/t)
Width
(m)
Visible
Gold
SZ-13-48 Lower Zone 39.58 43.86 6.14 4.28 VG
Including 13.86 1.46
SZ-13-49 Upper Zone 28.00 33.50 8.07 5.50 VG
including 28.00 30.55 16.88 2.55
Lower Zone 80.15 85.00 28.50 4.85 VG
including 80.15 82.30 94.96 1.35
SZ-13-50 Lower Zone 8.73 17.00 17.24 8.27 VG
including 12.90 14.85 61.74 1.95
SZ-13-51 Lower Zone 19.45 24.70 3.89 5.25 VG
including 23.46 24.70 9.97 1.24
SZ-13-52 Lower Zone 30.55 33.70 4.42 3.35 VG
including 32.30 33.70 8.87 1.40

* Drill intercepts do not represent true thickness.

The JBZ drill program has confirmed high grade - near surface mineralization which could be amenable to surface extraction and could also be the site to collar the portal to commence underground development.

Stephen G. Roman, President and CEO stated "We are very excited with the assay results from the Jewelry Box Zone. The current drill program is designed to assess the viability of refining our Bulk Sample plans to utilize the Jewelry Box Zone's proximity to surface with potentially higher grades and wider mineralized zones to reduce capital requirements."

Road Construction

Construction of the mine site access road is progressing well with completion now targeted for mid November. The road will connect the Sugar Zone Deposit to Highway 631 which in turn provides direct access to the Trans Canada highway. Construction of the road is a key milestone in the development of the Sugar Zone property as it significantly reduces travel time to and from the property and will facilitate regional exploration programs across the property. Please go to www.hartegold.com for recent pictures.

Private Placement

Harte Gold also announced that under an extension of its Summer 2013 private placement, it raised gross proceeds of $190,000 including $130,000 pursuant to the final closing October 11, 2013 (initial closing September 16, 2013) of a non-brokered private placement of up to 625,000 Units priced at $0.08 and 1,500,000 Flow-Through Units priced at $0.10 for gross proceeds of up to $200,000.

Harte Gold issued 500,000 Units at $0.08 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at $0.15 for a period of twenty-four (24) months from closing. Harte also issued 1,500,000 Flow-Through Units at $0.10 per Unit. Each Unit consists of one flow-through common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.15 for a period of twenty-four (24) months from closing.

Finder's fees payable in connection with the private placement consist of a cash payment equal to 7% of cash raised and that number of common share purchase warrants equal to 7% of the number of Units and Flow-Through Units issued pursuant to certain orders in the private placement, for a total related to the final closing of $6,300 and 63,000 warrants. Each Finder's warrant is exercisable at $0.10 for a period of twenty-four (24) months from closing. Proceeds from the private placement will fund exploration, permitting and development work related to the Advanced Exploration project at Harte Gold's 100% owned Sugar Zone property and, general corporate purposes.

QA / QC Statement

Diamond drill holes were drilled with HQ 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. Drill programs are conducted under the supervision of George A. Flach, P. Geo, Vice - President of Exploration for Harte. Mr. Flach is the Qualified Person (QP) as defined in National Instrument 43-101.

About Harte Gold Corp.

Harte Gold Corp. is focused on the development of its 100% owned Sugar Zone property where it is permitting an Advanced Exploration project to test the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometres east of the Hemlo Gold Camp and contains 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 an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped). Harte also holds the Stoughton-Abitibi property located on and adjacent to the Destor-Porcupine Fault Zone in the Timmins, Ontario Porcupine gold camp.

Common Shares Outstanding: 205,482,554

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Harte Gold Corp.
    Stephen G. Roman
    President and CEO
    416-368-0999
    416-368-5146 (FAX)

    Harte Gold Corp.
    David Ellis
    Investor Relations Consultant
    416-704-0937
    www.hartegold.com