May 4, 2018 @ 08:11
Harte Gold is pleased to announce it has entered into an Impact Benefits Agreement (IBA) with Pic Mobert First Nation. the proximal First Nation, in connection with the Company’s Sugar Zone property located outside White River, Ontario.
The Sugar Zone property is located within the exclusive traditional territory of Pic Mobert First Nation. The IBA applies to all Mines that may be developed on the 80,000 Ha Sugar Zone property and provides a framework within which Harte Gold and PMFN will continue to work together during the production phase of the Sugar Zone Mine. Key IBA terms include a 4% Net Profits Interest (“NPI”), based on the World Gold Council definition of “all in sustaining cost” metrics, and stock options to purchase 500,000 common shares of the Company at a price of $0.40 for a period of five years.
Stephen G. Roman, President and CEO commented “Harte Gold and Pic Mobert have worked together in a mutually respectful and profitable manner since signing our Exploration Agreement in 2011. With the signing of this IBA we have laid the foundation for long term operations and look forward to working together as we begin commercial production and continue exploration activities across the Sugar Zone property.”
Gimaa Kwe Pic Mobert First Nation, Netmizaaggamig Nishnaabek, commented “We are pleased to have concluded this important agreement with Harte Gold. The agreement will guide our future relationship with Harte Gold and its operations within our traditional territory, and provide new economic opportunities for our membership.”
About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone Property where it has recently completed a 70,000-tonne Advanced Exploration Bulk Sample at the Sugar Zone Deposit and mined 30,000 tonnes under its Phase I Commercial Production Permit. The Sugar Zone Property is located 80 kilometers east of the Hemlo Gold Camp. Using a 3 g/t Au cut-off, the Mineral Resource Estimate dated February 15, 2018, contains an Indicated Mineral Resource Estimate of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces of contained gold and an Inferred Mineral Resource Estimate of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces of contained gold. Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone, east of Timmins, Ontario, and adjacent to the Holloway Gold Mine.
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