07:31 AM EDT, 05/04/2018 (MT Newswires) -- Harte Gold (HRT.TO) -- an exploration and development company -- said overnight Thursday that the Preliminary Economic Assessment (PEA) for its wholly owned Sugar Zone Project near White River, Northern Ontario was "positive."

Highlights of the PEA included 80,700 ounces of average annual gold production at US$507/oz Au and AISC of US$708/oz Au over an 11 year mine life from 2019 onwards. Total recovered gold production over mine life

was 904,000 ounces, said Harte.

CEO Stephen Roman said: "The PEA demonstrates an economically robust, low cost operation with a scalable mine plan designed to match underground development. With a target of 1,400 tonnes per day producing over 100,000 ounces per year, Harte Gold will have the cash flow to continue property wide exploration and the ability to target high impact acquisition opportunities."

Roman added, "We are particularly encouraged by the value opportunities being explored. As illustrated with previous infill drilling, grade is expected to improve as we tighten spacing, which will have a significant, positive effect on the diluted head grade mined and the number of ounces incorporated into the mine plan. There are over 500,000 ounces of resource currently not included within the PEA mine plan. As we continue drilling, we expect the economics of the Sugar Zone Project should only improve."

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