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Harvest Gold Approves Cerro Cascaron Drill Budget; Reprices $2M Worth of Warrants
(via TheNewswire) Vancouver, British Columbia / TheNewswire / August 27, 2018 - Ha...
About this update from Harvest Gold Corporation
[{"type":"text","content":"Harvest Gold Approves Cerro Cascaron Drill Budget; Reprices $2M Worth of Warrants(via TheNewswire)\n\n \nVancouver, British Columbia / TheNewswire / August 27, 2018 - Harvest Gold Corporation (TSX.V: HVG) (the \"Company\") is pleased to announce that, further to its news release of August 9, 2018, the Board of Directors has approved the drill program budget submitted by project operator, Evrim Resources Corp. (TSX.V: EVM) for the diamond drill program at the Cerro Cascaron gold project in Chihuahua, Mexico. The planned program includes up to 3000 metres of drilling comprising 15 holes covering seven target areas.\n\n\n \nHarvest has delivered $700,000 to Evrim to initiate the drill program and preparations are now underway to begin drilling in late September, to avoid current seasonal wet weather at Cerro Cascaron and the related additional helicopter costs. Drilling will follow-up work completed from the Company's 2017 program where extensive mapping, rock channel and chip sampling and soil surveys were completed. A major focus will include the Serpiente Dorada, Juiletta, San Pedro and Cascarita areas.\n\n\n \nAt the Serpiente Dorada and Julietta areas, veins rock chip samples grade from <0.005 grams per tonne gold (\"g/t\") to 1,670 g/t gold in the upper part of the system. At the San Pedro vein channel samples have returned grades of 19 g/t gold and 72.6 g/t silver over 0.8 metres within 2.6 metres grading 6.05 g/t gold and 28.3 g/t silver.\n\n\n \nAt Cascarita, the sampling of historic adits provided five channel sample cuts with widths from 1.4 metres to 3.3 metres that grade between 231 g/t and 542 g/t silver equivalent.* \n\n\n \nWarrant Repricing\n\n\n \nThe Company also announces the receipt of TSX Venture Exchange approval for the amendment in exercise price of 25,824,000 outstanding warrants (the \"Warrants\") from $0.10 to $0.08 per share and the extension of the expiry date of 24,524,000 of the Warrants from September 9, 2018 to September 21, 2018. The expiry dates of the remaining Warrants, being October 7, 2018 as to 100,000 Warrants and October 18, 2018 as to 1,200,000 Warrants, will remain the same. The entire warrant package, if exercised, has a value of over $2,000,000 to the Company treasury.\n\n\n \nRick Mark, President and CEO of Harvest Gold Corp. and an insider of the Company has exercised 400,000 $0.0...