now HVG has two properties in Nevada which is hot these days. 52 week high.
VANCOUVER, BRITISH COLUMBIA, Mar 30, 2006 (CCNMatthews via COMTEX) --
Harvest Gold Corporation (TSX VENTURE:HVG) March 30, 2006 (the "Company") is pleased to announce that the company has signed a letter of intent to acquire a 100% interest in the Garcia Flats property in Nevada from Churnhill Gold LLC. The property is located at the southern extension of the Carlin Trend in Elko County, Nevada. Garcia Flats is located approximately 40 km south of Newmont's Rain mine and 35 km northwest of Barrick's Bald Mountain mine. The property comprises 72 unpatented mining claims covering 5.8 square kilometers (1,440 acres).
The project was acquired following the positive results of the regional soil geochemical survey undertaken by the property vendor, Greg Hill, M.Sc. Geol., utilizing broadly spaced (500 meters) sample sites over an area exhibiting the various geologic criteria associated with Carlin Trend gold deposits. Mr. Hill's program was designed to identify a new district size gold target on the south Carlin Trend in Elko County, Nevada.
Garcia Flats is structurally complex situated along a major northwest-trending fault zone that extends towards the Bald Mountain district to the southeast. The Roberts Mountains thrust projects under shallow cover and contains anomalous soil geochemistry gold values with significant responses in pathfinder elements: arsenic, antimony and other metals.
The lower plate rocks, of the Webb/Devils Gate contact occurs to the north of the property throughout the Pinon range where it is mineralized in many places and acts as the main ore host at Rain. The contact is present to the southwest and southeast of the property, and is believed to be present beneath the Garcia Flats claims block. Eocene age volcanic rocks also exist on the property, indicating local igneous activity, during the time of gold mineralization on the Carlin Trend.
Harvest Gold will acquire additional gravity data and execute a more detailed geochemical survey. The company expects this will provide specific gold targets for initial drill testing. The technical information in this release has been reviewed by Dr. George Gale, P Eng. Qualified Person Vice President Exploration.
An initial payment of $10,000 has been made and 25,000 shares of the company will be issued to the vendor. The Company may earn a 100% interest upon completion of a schedule of property payments totaling $40,000, the issuance of 300,000 shares and exploration expenditures of $400,000 over a 4 year period.
On behalf of the Board of Directors,
John Roozendaal, B.Sc., President
Harvest Gold Corporation
