TORONTO, May 16, 2018 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. ("Harte Gold" or the "Company") (TSX:HRT) (OTC:HRTFF) (Frankfurt:H4O) is pleased to announce its results for the three months ended March 31, 2018.Longitudinal Projection Illustrating Gold Grade Contours, Drill Results And Future Mine Development Stephen G. Roman, President and CEO of Harte Gold commented, "Harte Gold has had a very productive start to 2018. The Company tripled its mineral resource estimate, arranged a debt financing solution that fully funds the Sugar Zone Project to production, delivered a Preliminary Economic Assessment with significantly improved project economics and signed an Impact Benefits Agreement with Pic Mobert First Nation. The Company's focus now is on achieving commercial production, targeted for Q3 2018 and continuing aggressive infill and expansion drill programs, expected to improve grade and add resources."HIGHLIGHTSP&E Mining Consultants Inc. ("P&E") completed an updated National Instrument 43-101 ("NI 43-101") Mineral Resource Estimate, announced February 15, 2018, based on drilling to December 8, 2017 and summarized as follows:Indicated Resources: 714,200 ounces of contained gold at a grade of 8.52 g/t; andInferred Resources: 760,800 ounces of contained gold at a grade of 6.59 g/t.Mineralization at the Sugar and Middle Zones is continuous. Inferred Resource grades were conservatively calculated due to wide spaced drilling.On May 3, 2018, the Company released an updated Preliminary Economic Assessment ("PEA"), undertaken by P&E, based on a mine plan of 540 tpd increasing to 1,400 tpd. Highlights include:80,700 ounces of average gold production at a C1 cash cost of US$507/oz. and AISC of US$708/oz., over an 11 year mine life.904,000 ounces of life-of-mine ("LOM") gold production, from potentially mineable mineralization, incorporating approximately two-thirds of the combined Indicated and Inferred Resource.Pre-Tax NPV5% of C$344 million (50% IRR) at US$1,250/oz Au, which increases to C$425 million (60% IRR) at US$1,350/oz Au.C$58 million of capex remains to be spent in 2018 (as of March 31, 2018) on process plant completion, surface infrastructure and underground development, of which C$36 million is to be spent on the process plant and surface infrastructure.Multiple opportunities identified to potentially improve project economics, including infill drilling of existing Inferred Resources to convert additional material into the Mine Plan, and potential resource growth outside of the existing resource shell.Overall project development advancing rapidly towards production:Processing plant over 80% complete, completion scheduled for end of June.Power line construction is well underway, completion scheduled for early July.Redpath Canada Limited appointed as contract miner for the first 24 months of operations.40,000 tonnes of development ore stockpiled on surface, providing initial feed for the process plant.79,000 tonnes of stope material readily accessible by completed underground development.US$70 million financing announced on May 3, 2018, which provides funding for remaining 2018 capex, start-up of operations, working capital, exploration and corporate costs.Impact Benefits Agreement ("IBA") signed with the proximal First Nations Band; Pic Mobert First Nation.Aggressive infill and exploration drill program continued in Q1 2018, with 27,605 meters of drilling completed:Infill drilling of Sugar and Middle Zones are delivering good results which should positively impact resource classification and grade. Assays returned from the Middle Zone include 21.16 g/t over 4.78 meters in hole WZ-18-142 and 16.46 g/t over 6.55 meters in hole WZ-18-138.Drilling has led to the new Footwall Zone discovery, approximately 50 meters into the footwall of the Middle Zone area. Hole WZ-18-129 returned 5.41 g/t over 7.66 meters including a high grade core of 14.80 g/t over 2.12 meters.Drilling at the Wolf Zone confirmed mineralization north of the Gabbro intrusion. Hole WZ-18-151 returned 3.04 g/t over 6.07 meters, including a high grade core of 8.87 g/t over 1.87 meters.Overall land position increased to 83,850 hectares.OUTLOOKTarget closing the US$70 million financing by the end of May.Receipt of all outstanding permits to begin mining operations are expected in June.Process plant commissioning scheduled ...Full story available on Benzinga.comWeiter zum vollständigen Artikel bei "Benzinga"