Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – April 3, 2012) – Harvest Gold Corporation (TSX VENTURE:HVG) (the “Company”) reports that the sulphide mineralization intersected in drill holes completed this winter drill season on the CUD property, Rice Lake Gold Belt, Manitoba were absent of significant gold mineralization or other metals of economic interest.
John Roozendaal, President of Harvest Gold Corporation, states: “Though we are disappointed that the near surface mineralization encountered was not gold bearing, the potential for deeper targets projected down plunge of the neighboring San Gold #2-3 zones remain untested.”
Logging of diamond drill core from the program did identify zones of sulphide mineralization associated with high strain shear zones and some alteration that explained the Induced Polarization anomalies, but assays received for those intervals show no enrichment in gold.
Management will review remaining targets on the property before planning follow up exploration on the property.
The CUD Property is located 8 km east of San Gold’s operating gold mine in the Town of Bissett, Manitoba. The Cud claim is located immediately north of claims held by San Gold on which their #2-3 gold zones are located.
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. 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,
Rick Mark, CEO
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.
Comments
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