In its first real update since 2012, Harte Gold (TSX: HRT; US-OTC: HRTFF) has tripled the resource at its Sugar deposit about 80 km east of the Hemlo camp in northern Ontario.
The new 1.5 million ounce resource is based largely on Harte’s 2017 drill program (138,000 metres) and about 50% is classified as indicated and situated in the upper 500 metres of the deposit.
The Sugar zone (including the Middle Zone) now contains an estimated 2.61 million indicated tonnes grading 8.52 grams gold per tonne for 714,200 ounces of contained gold and another 3.59 million inferred tonnes (to a depth of 1,000 metres) grading 6.59 grams gold for 760,800 oz. contained gold. The resource used a 3.0 gram gold cut-off.
Harte believes the gold grade is continuous at depth and will improve with its 30,000-metre infill drill program planned for 2018 at the deposit’s Sugar and Main zones. In the meantime, the company is also working on a preliminary economic assessment based on the resource update that it plans to complete by the end of April. Initial production is scheduled for the second half of year, while the process plant is expected to start commissioning by June.
The company has already completed a 70,000-tonne advanced exploration bulk sample and mined 30,000 tonnes under its phase 1 production permit.
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