Harvest Gold Corporation
TSX VENTURE : HVG

Harvest Gold Corporation

February 28, 2012 06:30 ET

Harvest Gold Reports CUD Property Drill Program Expanded, and Core Sampling Underway, Rice Lake Gold Belt, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Harvest Gold Corporation (TSX VENTURE:HVG) (the "Company") is pleased to announce that logging of diamond drill core is complete and sampling is now underway at the Company's 100% owned CUD Property, located 8 km east of San Gold's operating gold mine in the Town of Bissett, Manitoba. It is immediately north of claims held by San Gold, on which their #2-3 gold zones are located.

Management also reports that the initial drill program was expanded based on geological observations from drill core. These included quartz veins with disseminated specks and blebs of pyrite mineralization in sericitized rhyolite situated within a high strain deformation zone. This prompted the drilling of a third hole on the IP targets.

A total of three holes were drilled for a total of 418 metres, instead of the two holes that were originally planned for the CUD property. The third hole was planned to intersect the IP target approximately 100 metres west of hole CUD-12-002. The second drill hole was deepened due to pyrite mineralization within an altered rhyolitic tuff. The strong IP anomalies identified in the fall survey were explained by intervals of sulphide mineralization in quartz veins and in adjacent silicification and sericitization alteration zones. Assays will assess the core for gold and related metals.

The drill targets were defined by induced polarization chargeability and resistivity anomalies resulting from IP surveys undertaken by Abitibi Geophysics.

Samples will consist of sawed core with one half of the core shipped for assay. TSL Laboratories, an ISO-certified laboratory, will undertake assays on these samples.

A NI 43-101 technical report by ACA Howe International was prepared for San Gold Corporation in December 2006. This report outlined gold reserves and resources for the San Gold 1 zone and San Gold 2-3 zone with the latter situated adjacent to the Harvest Gold property boundary. A 3D model completed by Harvest Gold geologists indicates the San Gold 2-3 zone dips and plunges onto the CUD claim, at depth.

Compilation of assessment reports indicates historic drill hole collars on the adjacent San Gold property occur within metres of the CUD claim boundary. There is no record of previous drilling on the CUD claim.

The contents of this press release have been reviewed by the Neil Richardson, P.Geo., who is a Qualified Person as defined by NI 43-101.

Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company controls 100% interests in the advanced-stage Rosebud Gold Mine property, and generative gold properties at Garcia Flats in the South Carlin Trend and the RW property in the southern Battle Mountain - Eureka Trend. In Manitoba, Harvest is engaged in early-stage exploration of three groups of 100% owned claims in the Rice Lake Gold Belt and holds a 40% interest in the more advanced-stage, Assean Lake project.

On behalf of the Board of Directors,

John Roozendaal, B.Sc., President

Harvest Gold Corporation

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.

Contact Information

  • Harvest Gold Corporation
    Evan Sleeman
    Director
    604-986-2020 or Toll Free: 1-866-816-0118
    604-986-2021 (FAX)
    www.harvestgoldcorp.com