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Bullboard - Stock Discussion Forum Harte Gold Corp. HRTFF

Harte Gold Corp is engaged in the acquisition and exploration of mineral resource properties. It is focused on gold properties located in the province of Ontario, Canada. The company's exploration projects consist of sugar zone property and Stoughton Abitibi property. The Sugar Zone Property is located approximately 80 kilometers east of the Hemlo gold camp on the north shore of Lake Superior... see more

EXPM:HRTFF - Post Discussion

Harte Gold Corp. > Justrelax and Eggbus
View:
Post by Research67 on Jan 26, 2021 10:26am

Justrelax and Eggbus

Hmm, I have to say; justrelax2 and Eggbus's responce to my resource post has me confused. Not sure if the intent of justrelax2's post was to support or refute my post. I think this is an important issue for all to understand propoerly.  With respect...

As stated in the news report -

https://www.newswire.ca/news-releases/harte-gold-announces-positive-feasibility-study-results-for-expansion-to-1-200-tpd-889942519.html

Mineral Resource Estimate

The Mineral Resource estimate presented in the following table is dated September 30, 2020 and the Mineral Resource ounces are inclusive of Mineral Reserve ounces.
 

Mineral Resource Estimate as at September 30, 2020

Classification

Zone

Tonnes

Grade

Ounces Au

kt

g/t Au

koz

Indicated

Sugar

1,315

15.53

657

Middle

1,326

8.95

381

Wolf

162

6.13

32

Total

2,803

11.87

1,070

Inferred

Sugar

891

10.98

314

Middle

844

8.21

223

Wolf

132

7.04

29

Total

1,866

9.45

567


So Harte gold has a total resource of 1 637 000 ounces of gold

Within that resource, and not in additioin to, is the following mineral reserve

 

Mineral Reserve Estimate as of December 31, 2020

Classification

Zone

Tonnes

Grade

Ounces Au

kt

g/t Au

koz

Probable

Sugar

1,994

7.59

487

Middle

1,460

6.62

311

Total

3,454

7.18

797



As stated in point 2 below the reserve

2.

Mineral Reserves are the economic portion of the Indicated Mineral Resources. Mineral Reserve estimates include mining dilution at grades assumed to be zero.

 



 
 
In other words the amount of gold the fesability study deems as recoveralbe, with a certain degree of confidence is 797000 ounces of gold..

Scroll down on the same news report, you will see the life of mine plan to recover that gold. 

Gold Production Schedule

The following table outlines plant throughput, grade, recovery and gold production forecasted over the LOM.

Mine Operating Plan

 

Units

2021

2022

2023

2024

2025

2026

2027

2028

2029

Tonnes Processed

K t

292

292

438

438

438

432

428

416

280

Mill Throughput

tpd

800

800

1,200

1,197

1,200

1,183

1,174

1,136

768

Grade

g/t Au

7.1

8.1

7.7

6.9

7.0

8.7

7.1

5.4

6.6

Recovery

%

94.0%

94.0%

94.4%

94.4%

94.4%

94.4%

94.4%

94.4%

94.4%

Gold Recovered

oz Au

62,458

71,812

102,261

92,136

93,239

114,085

91,997

67,570

56,044



If you add up all the gold they plan on recovering over the life of the mine, you get 751629 ounces. 

I will say, Harte has done a good job of confusing this further as the tonneages in the reserve would have to include inferred as well as the indicated to make sense, which does not make sense, as that implies a great deal of the inferred has been proven recoverarble and hence should be at least added to the indicated. 

My intentins are solely to clarify for all to have the same understanding. 

I would like to add, I made an additional error on my resource post, I said Orion has an smelter royalty, should have said Appain. Too many things going on in one head, appologize; we all make mistakes. 

All the Best
Comment by 0utsider on Jan 26, 2021 11:01am
Thanks for clarifying this Research67. There seems to have been a bit of confusion on this board regarding ounces in the ground. Regardless, the last few weeks feel like a turning point with this mine
Comment by r4814smith on Jan 26, 2021 12:21pm
Good or Bad ?.
Comment by Research67 on Jan 26, 2021 3:22pm
Bob, The short answer is neither. You or I haveing a better understanding of the resource is not going to change anything. I suppose you can say, had Harte added a 1/2 million ounces of recoverable gold, that would have a positive affect the NAV and should Harte find a way to produce gold at a profit the market cap would appreciate. Things are getting better, the posibility for a positive share ...more  
Comment by justrelax2 on Jan 26, 2021 4:07pm
Updated resource modelling forms the basis of the Feasibility Study: Probable Mineral Reserve Estimate of 3.5 million tonnes at 7.2 g/t Au containing 797,000 oz Au. Indicated Mineral Resources of 2.8 million tonnes at 11.9 g/t Au containing 1.1 million oz Au. Inferred Mineral Resources of 1.9 million tonnes at 9.5 g/t Au containing 567,000 oz Au. Research....we ...more  
Comment by r4814smith on Jan 26, 2021 7:51pm
Thanks for that. I am a very long holder of this stock and have watched it missmanaged and now I hope for better times. Bob.
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