Harfang Up 60% as Drilling at its Sky Lake Project Shows High-Grade Mineralization

Harfang Exploration (HAR.V) was last seen up 60% after the company on Wednesday said exploration drilling at its Sky Lake gold project in northwest Ontario showed some high-grade mineralization and identified two new gold zones on the property

The company said best results from the exploration program included 18 meters of core testing at 7.0 gold-equivalent grams per tonne.

Harfang also said it discovered two high-grade mineralized zones in a kilometer-long shear zone, with the first batch of drill results providing early confirmation of a "significant mineralized gold system".

"The significant interval of 7 grams per tonne gold over 18 metres, a metal factor of 126 gram-metres, is a fantastic start," said chief executive Rick Breger. "We believe that Sky Lake is perfectly situated along an underexplored greenstone belt in a geologic environment that is ripe for mineralization. We have all the typical ingredients of an Abitibi-like orogenic-style gold deposit, such as the mineralogy, alteration patterns, and veining."

The company's shares were last seen up $0.045 to $0.12 on the TSX Venture Exchange.

Price: 0.12, Change: +0.05, Percent Change: +60.00