Harfang Announces High-Grade Gold Discoveries at Serpent-Radisson, Québec

MONTREAL, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang” or the “Company”) (TSX.V: HAR) is pleased to announce five (5) high-grade gold discoveries at its wholly-owned Serpent-Radisson Property (the “Property”) in Eeyou Istchee James Bay, Québec (Figure 1). These discoveries are highlighted by a new structural gold trend in a previously underexplored area, expanding the gold footprint and reinforcing the gold prospectivity of the Property.

Highlights

• Five High-Grade Gold Discoveries:The Company has made five (5) high-grade gold discoveries within quartz veins systems associated with shear zones in underexplored areas.
• Grab Samples Returned Assay Result up to 72.4 g/t Au:Twelve (12) grab samples returned assay results above 5g/t Au with the top three samples returning 72.4 g/t Au, 28.1g/t Au, and 26.9 g/t Au.
• The Nusa Structural Gold Trend Delineated:The Nusa Trend is a structural gold trend that aligns with three new high-grade gold discoveries. This new trend can be delineated over a 5 km-long WNW orientation, and is subparallel to the previously identified Goldhawk and Stu structural trends. This third trend expands the existing gold footprint to the north by approximately 1 km.
• Exploration Success in a Previously Unexplored Area:Multiple gold anomalies have been discovered in a previously unexplored area. The vein system outcrops over 400 metres along strike and is up to 25 metres thick.

“These remarkable high-grade gold discoveries at Serpent-Radisson are a testament to the untapped potential of this region, " said Vincent Dubé-Bourgeois, Interim President and CEO of Harfang Exploration Inc. "The expansion of our gold footprint through the identification of new structural trends not only reinforces the prospectivity of our property, but also fuels our optimism for future exploration. We are eager to continue our work and unlock the full potential of these promising areas.”

New Gold Trend Delineated: The Nusa Trend

The Company has delineated a new gold trend, the Nusa Trend, approximately 5 km long and located north of two existing trends, the Stu and Goldhawk Trends (Figure 2, 3). This new trend is the product of three gold discoveries (PEM-18, GV-02, and AG-36; see Table 1) made during the Summer 2024 exploration program which was informed by a 2024 remote sensing study that investigated newly captured high-resolution images across the Property.

The western discovery (PEM-18) consists, preliminarily of a small exposure, of an E-W-oriented 15- by 4-metre quartz-calcite vein system hosted in a sheared diorite. The veins are hematized with up to 5% disseminated pyrite. Grab samples from PEM-18 returned assay results highlighted by: 10.50 g/t Au, 6.98 g/t Au, and 6.56 g/t Au.

The central discovery (GV-02) consists of an anastomosed WNW-trending 40-metre-long shear zone at the contact between gneiss and gabbro, containing quartz-chlorite veins with disseminated pyrite and visible gold. Grab samples from GV-02 returned assay results highlighted by: 26.90 g/t Au, 11.20 g/t Au, and 5.51 g/t Au.

The eastern discovery (AG-36) is an E-W-oriented quartz-chlorite vein system with hematite and pyrite alteration, hosted at a sheared contact between gabbro and tonalite. Grab samples from AG-36 returned assay results highlighted by: 72.40 g/t Au and 10.80 g/t Au.

These 3 discoveries align along a WNW-oriented magnetic trend which could be traced over 5 km, suggesting a promising underexplored mineralized trend located just north of the previously drilled Stu and Goldhawk trends.

Additional Significant Discoveries

The Company has also made two other significant gold discoveries on the Property, SM-80 and DV-23 (Table 1). Both discoveries were made in underexplored areas that were exposed as a result of the 2023 forest fires.

The SM-80 gold discovery is located 4.5 km to the NE of the Nusa Trend and sits on a strong deflected magnetic discontinuity and consists of an E-W-trending 400- by 25-metre shear zone hosting quartz veins (~10 metres wide) with abundant sulfide and hematite alteration (Figures 4, 5 and 6). The southern part of the shear zone consists of an approximately 10-metre-wide mafic mylonite, rich in actinote and chlorite. Sulfides occur as porphyroblasts of pyrite, and are also, less commonly, disseminated. The vein pinches on both east and west sides, but overall can be traced over 600 m until it reaches swamps. Grab samples from SM-80 returned anomalous assay results highlighted by: 2.54 g/t Au and 1.03 g/t Au.

The DV-23 gold-copper-zinc discovery is located approximately 500 metres SE of the Milou lithium discovery. This discovery consists of a 20- by 1-metre WNW-oriented oxidized quartz vein, with up to 5% disseminated pyrite, in a gabbro-hosted shear zone. Grab samples from DV-23 returned assay results highlighted by: 28.10 g/t Au, 17.90 g/t Au with 0.13% Cu, 13.90 g/t Au, 7.70 g/t Au with 0.13% Cu and 0.31% Zn.

Table 1. Select assay results from grab samples at the five gold discoveries at Serpent-Radisson.

In addition, 2 km SW of DV-23, polymetallic quartz veins returned assay results highlighted by 1.47 g/t Au with 0.12% Cu, and 0.82 g/t Au with 1.74% Cu.

The grab sampling program also uncovered platinum and palladium mineralization (PGE), including 895 ppb Pd and 438 ppb Pt, along with 0.24% Ni, associated with the Serpent pyroxenite dyke containing sulfides.

Next Steps

The Company is evaluating a Fall 2024 exploration program that may include prospecting, channel sampling, and detailed mapping. All results have been received from the Serpent-Radisson summer exploration program.

Sampling Protocols and Quality Control

Each rock sample collected in the field was identified and sent to ActLabs (Val-d’Or, Québec), a certified commercial laboratory, to be analyzed for gold and a suite of other chemical elements. These samples were prepared using the RX1 method and analyzed by ICP-OES & ICP-MS (UT-6M) for 49 elements, and by fire assay on 30-gram fractions with ICP-OES finish for gold, palladium and platinum, following a 4-acid (near-total) digestion. Overrange assays for gold (>30 g/t Au) were reanalyzed by fire assay on 30-gram fractions with a gravimetric finish. A strict QA/QC procedure was implemented, with one certified reference material (CRM) and one blank sample inserted into the sample stream for every batch of 50 samples.

Qualified Person

Ludovic Bigot, P.Geo., VP Exploration of Harfang, has prepared and approved the technical information contained in this news release. Mr. Bigot is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects.

About Harfang Exploration Inc.

Harfang Exploration Inc. is a well-financed technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track record of success and controls a portfolio of highly prospective projects. Harfang is dedicated to best practices through engagement with all stakeholders and a commitment to the environment.

For further information, please contact:

Vincent Dubé-Bourgeois
Interim President and CEO
info@harfangexploration.com

Cautionary Statement Regarding Forward-Looking Information

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Harfang believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Harfang disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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