Harte Announces Commencement of 10,000 Meter Drill Program and Signing of Exploration Agreement With Pic Mobert First Nation
February 16 2011 - 12:16PM
Marketwired
HARTE GOLD CORP. ("Harte") (TSX VENTURE: HRT)(FRANKFURT: H4O)
announced today that Orbit Garant Drilling Services Inc. is
mobilizing equipment to site to begin the 10,000 meter diamond
drill program as part of the next phase of exploration on the Sugar
Zone property. The rigs have arrived and will commence drilling
this week.
The drill program will consist of:
-- In-fill drilling from surface to 300 meters on the Sugar Zone deposit to
upgrade Inferred Resources to Measured and Indicated Reserves,
-- Exploration drilling to delineate resources at depth, discovered during
the March 2010 drill program,
-- Exploration drilling to extend the current 800 meter strike length of
the Sugar Zone deposit and,
-- Drill Induced Polarization ("IP") and Magnetometer ("Mag") survey
targets in the area between the Wolf Zone and Sugar Zone deposits.
Harte will incorporate the results from this drill program to
create a block model of the deposit and update the current NI
43-101 report. Feasibility Studies continue on the Sugar Zone
deposit which will incorporate updated NI 43-101 data to complete
mine planning.
Fold Closure Area
Harte is in the process of receiving bids for an IP and Mag
survey on the recently discovered "fold nose" (see News Release
dated January 6, 2011) located five kilometres northwest of the
Wolf Zone. This type of geological formation is often associated
with elevated gold concentrations and will be drill tested once the
geophysical surveys are completed.
Stephen G. Roman, President of Harte Gold Corp. commented "We
are looking forward to the next phase of exploration at the Sugar
Zone Property. With our flow through raise of $2,472,500 completed
in December 2010, we are well positioned to continue exploration
and development efforts during 2011."
Exploration Agreement
Harte also announced that it has signed an Exploration Agreement
(the "Agreement") with the Pic Mobert First Nation ("PMFN"). The
Agreement defines the terms under which the PMFN and Harte will
cooperate during the exploration phase of the project. Terms of the
Agreement include the payment of $17,500 towards advisory costs, an
annual payment of $2,000 to facilitate community consultation,
training and employment opportunities and the issuance of 500,000
options to acquire common shares of Harte at an exercise price of
$0.47 for a period of five years. Any options remaining unvested at
the end of the five year term will be renewed for a further five
year period. Harte and PMFN will enter into good faith negotiations
regarding an Impact Benefits Agreement once the bankable
feasibility study is completed and prior to mine construction.
Patricia H. Stirbys LLB, LLM appointed as Vice President
Aboriginal Relations
Ms. Stirbys will manage the consultation and community
engagement process between Harte and Aboriginal communities. Ms.
Stirbys is an experienced negotiator in Aboriginal Relations and
has worked with federal, provincial and Aboriginal government
organizations on a broad range of Aboriginal issues including
renewable energy, intergovernmental relations and First Nation band
management.
Stock Options
Harte has issued a total of 1,200,000 options to acquire common
shares of Harte to PMFN, Employees, Consultants an Officer and its
Investor Relations consultant. The stock options are exercisable at
$0.47 per common share and expire as to 50,000 options on February
14, 2013 and 1,050,000 options on February 14, 2016.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with
interests in the Sugar Zone and Stoughton-Abitibi properties
located in Ontario, Canada. The Sugar Zone Property is located 60
kilometres east of the Hemlo Gold Camp and holds an NI 43-101
compliant Indicated Resource of 1,117,000 tonnes, grading 8.41 g/t
Au for 302,000 ounces of contained gold and an Inferred Resource of
417,000 tonnes, grading 7.13 g/t Au for 95,000 ounces of contained
gold. Harte is the operator of the Sugar Zone Property and
currently owns a 49% interest with the option to acquire the
remaining 51%.
Common Shares Outstanding: 139,906,315
Neither the 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.
Contacts: Harte Gold Corp. Stephen G. Roman President and CEO
416-368-0999 sgr@hartegold.com Harte Gold Corp. David Ellis
Investor Relations Consultant 416-704-0937
davidellis@hartegold.com
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