25  Jan  2022

Harfang confirms gold intervals over 1,700 m along the Stu structure at Serpent (James Bay, Québec)

Montreal, January 25, 2022. Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) is pleased to report more gold intervals in the last 11 drillholes completed during summer 2021 on its wholly owned Serpent Property (“Property”) located in Eeyou Istchee – James Bay (Québec) (Fig. 1, Table 1). These new results confirm that significant gold occurs over at least 1,700 m along the Stu structure (Fig. 2). The 3rd drill program at Serpent started on January 10th. Harfang continues testing that structure and other associated lineaments up-ice of the gold-rich tills and soils.

Highlights:

  • Drilling confirms that the Stu structure contains gold over at least 1,700 m; open laterally and at depth;
  • Clustering of significant gold intervals and widening of the gold footprint (>50 ppb Au) in drillholes SER-21-036, 037, 039, 040 and 044 represent so far the most mineralized section of the Stu trend;
  • Till samples (up to 191 gold grains) extend the gold-in-till anomaly another 1 km to the southwest; gold grains may be derived from the Stu and/or Goldhawk structures;
  • 6,000 m winter diamond drilling program initiated.

 Discussion of results

Table 1. All gold intervals in drillholes SER-21-036 to SER-21-046 with a metal factor >2 (g/t x m).

Hole From (m) To (m) Core Length (m)* Au (g/t) Uncut
SER-21-036 15.65 15.95 0.30 7.07
SER-21-037
16.70 18.00 1.30 2.71
56.00 59.50 3.50 3.42
including  58.00 58.70 0.70 13.40
  191.90 196.00 4.10 1.33
SER-21-038 108.50 109.70 1.20 2.08
SER-21-039
32.40 33.30 0.90 12.40
71.90 74.50 2.60 0.95
SER-21-040
13.00 16.50 3.50 3.55
50.85 54.60 3.75 2.83
88.00 91.00 3.00 0.77
99.50 107.20 7.70 1.52
including 104.70 107.20 2.50 3.68
SER-21-044
70.00 79.15 9.15 1.16
89.00 95.90 6.90 0.88
  182.00 184.70 2.70 3.23

*The true thickness of reported intervals cannot be determined with the information currently available.

Drillholes along the Stu Structure

The summer 2021 drill program (19 holes, 3,759 m) was primarily designed to continue testing the gold-bearing N295° Stu structure up-ice of the gold-rich tills and soils. New gold intervals intersected in SER-21-036, 037, 039, 040 and 044 confirm that gold is present for another 500 m east of SER-21-035 which hit 4.33 g/t Au over 7.00 m and 1.11 g/t Au over 6.00 m (Fig. 2). Thirteen drillholes now confirm gold intervals (up to 4.09 g/t Au over 8.00 m, SER-21-029) are distributed over 1,700 m along the Stu structure which remains open laterally and at depth.

Figure 2. New gold intervals (metal factor >2) intersected in drillholes SER-21-036 to SER-21-046 completed during summer 2021 are shown in the red labels. Gold intervals for drillholes previously disclosed (grey labels) only include those with a metal factor >5. The grey pattern refers to the gold footprint (>50 ppb Au) parallel to the Stu structure.

Gold intervals are most commonly hosted in fine to medium-grained diorite containing 1-3% disseminated pyrite, minor quartz veins and actinolite-feldspar-quartz veinlets. Diorite deformation is subtle, varying from weakly foliated to locally sheared. High grade zones are commonly explained by visible gold. Hole 44 intersected a fractured feldspar-phyric granodiorite containing quartz-tourmaline veins, potassic alterations in the quartz vein selvages and minor disseminated pyrite that returned 1.16 g/t Au over 9.15 m. This host rock represents a new target for mineralization in the eastern part of the marshland.The gold footprint (>50 ppb Au) is more voluminous in the immediate area of holes 35, 36, 37, 39 and 40 suggesting that important gold-bearing zones remain to be discovered in the 475 m gap separating holes 40 and 44. This area is marked by discontinuous magnetic bands which appear to be disrupted by NE-SW faults cutting across the Stu trend; a complex structural setting favorable for gold (Fig. 3).

New results once more confirm that the gold footprint in drillholes is spatially associated with non-magnetic zones (Fig. 3). As mentioned in the press release dated on December 1st, 2021, this footprint appears to follow the non-magnetic WNW-ESE and ENE-WSW discontinuities. It is also associated with very low magnetic susceptibility in rocks. These linear features and their intersections are prime targets for the upcoming drilling.

SER-21-043 and 045 have not returned intervals with a metal factor >2.

Drillholes on specific targets

Three holes tested specific targets away from the Stu structure (Fig. 1). Hole 41 tested the Moby-Dick structure at depth. Hole 42 targeted the intersection of a WNW gold-bearing shear zone and the interpreted extension of the Moby-Dick structure proximal to an induced polarization anomaly and quartz-tourmaline boulders which returned up to 45.5 g/t Au. None of these holes returned significant grades and therefore the source of the high grade gold bearing boulders remains unexplained.

Hole 46 was collared to investigate the southeastern extension of the Goldhawk gold structure drilled by LaSalle Exploration Corp. (“LaSalle”). This hole was successful in intersecting mineralized diorite similar to that at the Goldhawk showing. However, granite intruded into the diorite was encountered at the projected depth of the mineralization zone. Floats of gold-bearing diorite are preserved in the granite.

Southwestern Extension of the Gold-in-Till Anomaly

Harfang collected 12 till samples and 699 soil (B-Horizon) samples in 2021 as part of a follow-up on previous geochemical surveys around the marshland (Fig. 4). The till samples tested the southwestern extension of the dispersal train of gold detected in previous surveys. Ten of the 12 till samples contain more than 20 gold grains (anomaly threshold), with a maximum of 191 grains. Gold analyses in the heavy mineral concentrates are pending. These new results further demonstrate the strength of the gold-in-till anomaly at Serpent. Furthermore, the actual results suggest that the dispersal train of gold as long as 4 km may be caused by either a series of sources under the marshland or multiple gold occurrences in the bedrock underneath the gold train itself. The projected southeastern extension of the Goldhawk structure onto Serpent may also explain the gold content in 2021 tills (Fig. 4).

The soil survey confirms that the gold-rich samples are mainly restricted to the marshland area and to adjacent structural features. Twenty-six samples returned >25 ppb Au, with a maximum of 589 ppb Au.

A 3rd Drill Program is Underway

A 3rd drill program (6,000 m) was initiated on January 10th. Priority targets include follow-up on gold structures drilled to date in the marshland and other targets developed from the 2021 prospecting and geological interpretation. Drill operations deploy in accordance with continuous, mutual discussions with LaSalle. Harfang and LaSalle announced a business combination with the closing of an Arrangement Agreement expected in Q2-2022 (see press release dated on January 6th, 2022) and subject to LaSalle shareholder approval. The winter program includes drilling on LaSalle’s Radisson Property which will follow-up on Goldhawk, Goldhawk Extension and Talon discoveries from last fall. Drill targets cover more than 6 km along the major Stu and Goldhawk structures and other subsidiary lineaments.

To view FIGURES 1 to 4, please click here.

The technical and scientific information in this press release has been prepared and approved by François Huot, P.Geo, Vice President Exploration at Harfang, a “qualified person” as defined by NI 43-101.

Quality control

Rock samples discussed in this press release were sent to ALS (Val-d’Or, Québec) to be analyzed for gold. Some of them were also analyzed for 33 other chemical elements. Gold was analyzed by atomic absorption following fire assaying on a 30-g sample fraction (Au-AA23). Other elements were analyzed using the four-acid ICP–AES method (ME-ICP61). Samples with >3 g/t Au were reanalyzed with a gravimetric finish (Au-GRA21). Metallic sieve analyses were done for selected samples following the Au-SCR21 procedure. Sample preparation and analytical determination were performed in various ALS laboratories.

2021 soil and till samples were collected by Harfang’s employees. Soil was collected in the B-horizon layer using an auger. Sampling sites were separated from each other by approximately 50 m to 100 m. Each sample (300-500 g) was placed in a paper bag which was wrapped in a plastic bag to avoid contamination between samples. Tills were collected in the C-horizon from hand-dug pits at depths up to 1 m. Each till sample (approximately 15 kg) was placed in a plastic bag and securely sealed with fibertape.

Soil samples were sent to ALS (Val-d’Or, Québec). Chemical elements of the fine fraction (<180 mm) were determined by ICP-MS following an Aqua Regia partial digestion using a 25-g aliquot (AuME-TL43). The lower detection limit for Au is 1 ppb.

Till samples were sent to Overburden Drilling Management [“ODM”] (Nepean, Ontario). This laboratory proceeded with the gold grain count, the identification of some indicator minerals, and the determination of gold grain shape from the non-magnetic HMC’s (specific gravity >3.3). Quantities of grains mentioned in the text and shown in figures correspond to normalized values calculated from the counts given by ODM by adjusting the table feed weights (fraction <2 mm) to 10 kg.

Till is a transported surficial media produced during active glaciation that may be affected by subsequent surficial processes resulting in the possible modification of the gold content. As such, the occurrence of a gold anomaly in till is not conclusive evidence of a mineral deposit existing within the Property limits.

The sampling procedures and the quality control followed protocols developed by Harfang, ALS and ODM. Preliminary data interpretation was done by Harfang.

About Harfang

Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Québec. Harfang’s development model is based on the generation of new mining projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects.

For further information:

François Goulet

President and Chief Executive Officer

Tel: 514 940-0670 #339

Email: fgoulet@harfangexploration.com

Web : www.harfangexploration.com

Neither 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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Harfang’s periodic reports including the filings made by Harfang from time to time with securities regulatory authorities.