Agoracom: Small Cap Investment - Harte Gold Corp - Corona Gold Corp. and Harte Gold Corp.: Intersect Extensions of the Sugar Zone

Welcome To The Hartegold Corp. HUB On AGORACOM

CDNX : HRT / Wise Investors Acquire Gold

Reply New Message

Back To Forum List View

Clavis

Rank: President [?]

Points: 26378 [?]

Votes: 242 Score: 3.6 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Corona Gold Corp. and Harte Gold Corp.: Intersect Extensions of the Sugar Zone

posted on Jun 12, 2009 01:56AM

June 11, 2009

Corona Gold Corp. and Harte Gold Corp.: Intersect Extensions of the Sugar Zone With New Drilling

TORONTO, ONTARIO--(Marketwire - June 11, 2009) - Corona Gold Corp. ("Corona") (TSX:CRG) and Harte Gold Corp. ("Harte") (TSX VENTURE:HRT) are pleased to announce that they have completed a ten hole diamond drill program on the Sugar Zone Gold Project in Northwestern Ontario for a total of 2,020 metres of drilling in late April.

The Sugar Zone property is located in the north-south trending Dayohessarah greenstone belt and hosted within a major northwest-trending linear structure, which can be traced for seven km. Outcropping gold mineralization occurs within two parallel zones, separated by 10 to 15m and drill defined along a strike length of 1.1km. The mineralization is hosted in sugary white quartz veining located along these zones with a thickness of up to 12m and dipping on average 64 degrees to the southwest. Both zones are defined by swarms of felsic porphyry sills hosted within mafic volcanics. The Sugar Zone deposit contains a NI 43-101 compliant resource of 904,400t @ 9.75g/t Au for 283,500oz of contained gold.

Significant results were intersected in three holes to the south of the main zone with five mineralized intercepts intersected within the main regional structure. All significant intercepts were intersected at least 0.5 km from the current Sugar Zone resource, are from zones of white sugary quartz containing visible gold, and are considered to be extensions of the Sugar Zone. A summary of significant results is included in Table 1. A drill hole location plan is available at the following address: http://media3.marketwire.com/docs/PS...

A follow-up program may be developed to determine if the mineralized zones intersected on the extensions of the Sugar Zone can be developed into a resource with possible economic widths and grades through further exploration.

The recently completed ten hole NQ size diamond core drill program was designed to test near surface targets along 3.5 km of strike length away from the main zone, as well as sub-parallel zones defined in either the recent airborne magnetics/E.M. survey completed in 2008 or in previous IP surveys conducted over the zone. Holes were drilled to the northeast generally at an inclination of 45 degrees and to an average depth of 200m. Holes tested the northwestern and eastern extensions of the zone, as well as four sub-parallel structures to the south, north and west of the main mineralized zone. The program was not designed to add additional ounces to the known mineralization at the Sugar Zone deposit, but to test new zones and extensions of the regional structure at distances of up to two km away from the Sugar Zone.

The Sugar Zone property is subject to a joint venture agreement between Corona, which holds a 51% interest, and Harte which holds a 49% interest. The Sugar Zone Property consists of 326 unpatented, un-surveyed, contiguous claims consisting of 717 claim units, and covering approximately 11,560 hectares within the Sault Ste. Marie Mining Division of Ontario. The Property is located approximately 60 km east of the Hemlo gold camp and 25 km northeast of White River. Corona is the operator of the project.

Table 1: 2009 Sugar Zone Extension Drilling Highlights

---------------------------------------------
Hole No.     From      To      Au  Core width
---------------------------------------------
               (m)     (m)   (g/t)         (m)
---------------------------------------------
SZ09-96     81.82    82.46   0.88        0.64
---------------------------------------------
SZ09-96     82.82    83.30   6.49        0.84
---------------------------------------------
SZ09-96     89.28    89.53   2.98        0.25
---------------------------------------------
SZ09-98    100.37   100.74   0.88        0.37
---------------------------------------------
SZ09-100   131.13   131.84   2.62        0.71
---------------------------------------------

This summer the joint venture plans to complete a regional exploration program to ground truth anomalies generated by the 2008 airborne geophysical survey and previous surface sampling.

The drill program was supervised by David S. Hunt, P.Geo., of Sharpstone Geoservices Ltd., who is an independent qualified person as defined by National Instrument 43-101. David Hunt ensured that all methodologies, sampling procedures and QA/QC procedures conformed to 43-101 standards. Sampling of the drill core consisted of the submission of sawn half-core to Activation Laboratories in Thunder Bay, Ontario for analysis, and included the submission of certified standards, sample duplicates, and repeats with third party check assays being sent to Accurassay Ltd., also located in Thunder Bay.

Gary O'Connor, MAusIMM, Vice-President of Exploration for Dundee Resources Limited, a consultant to Corona, and a qualified person as defined by NI 43-101, reviewed the technical content of this press release on behalf of Corona prior to distribution. George Flach, PGeo, Vice -President of Exploration for Harte Gold Corp. and a qualified person as defined by NI 43-101, reviewed the technical contents of the release on behalf of Harte.

Reply New Message

Back To Forum List View

Please to post a reply