Last October, Harte Gold Corp. began a transition from junior exploration company to gold producer. But Harte’s yellow brick road has had its share of lions, tigers and bears.
Seven years ago, Harte Gold was on the verge of being de-listed when shareholders asked Stephen G. Roman to take over management of the company. Yes, that Stephen G. Roman, son of Denison Mines mogul Stephen B. Roman. But more importantly at that point, the same Stephen G. Roman who was able to turn Gold Eagle Mines’ Bruce Channel deposit in Red Lake, Ontario from a prospect to a $1.5 billion asset sold to Goldcorp in 2008.
Roman stepped into a company with no other management or board and brought in fresh blood. Among other things, the new team cleaned up the financials and negotiated with Corona Gold Corp. for its 51 per cent stake in the Sugar Zone Deposit east of the Hemlo gold fields near White River, Ontario, giving Harte full ownership.
The hard work is starting to pay off. The company began blasting a ramp down to the deposit at Sugar Zone in October, and in November it hired Roger Emdin, an engineer with experience in health and safety, permitting, and government relations to help with the transition.
The mine is now in Phase I of production, bringing up 70,000 tonnes of ore which Roman expects will yield 25,000 ounces of gold.
The property has a NI 43-101 indicated resource of 1,117,000 tonnes of ore grading 8.41 g/t for 302,000 oz., and an inferred resource of 417,000 tonnes grading 7.13 g/t for 95,000 oz. of gold.
Roman said in December that he hopes to move from Phase I to full-fledged commercial production in 12-18 months.
For the rest of this article, click here: http://www.sudburyminingsolutions.com/harte-gold-makes-transition-to-production.html