Harvest Gold Corp. (HVG:TSX.V; HVGDF:OCTMKTS) released the second and final batch of results (five holes) drilled in the northern part of its flagship Mosseau gold project in the Urban Barry Belt of Quebec's Abitibi region, noted a news release. The other 10 holes of this 21-hole, 4,692-meter (4,692m) maiden drill program targeted Mosseau's central portion.
The just-reported drill results show new, complex, and sizable gold (Au)-silver (Ag)-copper (Cu) mineralization in the target area, a previously identified major structural feature interpreted to be a large dilation zone, or space in which mineralized deposits can get trapped. This recently encountered mineralization provides new and compelling exploration targets.
"The gold-rich mineralization, accompanied by precious and base metals, shares key similarities with several well-known, gold-rich base metal deposits in the Abitibi," Harvest Gold President and Chief Executive Officer (CEO) Rick Mark said in the release.
This Au-Ag-Cu mineralization was found to be widespread and present in thick intervals southeast of the Morono deposit, as shown throughout MO-25-24, the most southerly hole drilled to date. These results indicate a regionally extensive and significant gold system.
The style of mineralogy in MO-25-24 differs slightly from that seen elsewhere at Mosseau. The host rocks in the hole are typically sheared mafic volcanics, with sulphides along the fractures and associated with quartz veins. However, the mineralogy in MO-25-24 is similar to that of a sulphide zone recently encountered in Mosseau's northern part, which returned 0.6m of 8.67 grams per ton (8.67 g/t) Au, 203 g/t Ag, and 2.26% Cu, in MO-25-15.
"The drill hole [MO-25-24] indicates excellent potential for a larger deposit and the possibility of expanding the mineralization towards the east within the dilation zone, in an area that remains largely untested," noted the release.
Further, MO-25-22 tested the downdip extension of Morono at a vertical depth of 325m and intersected several wide zones of anomalous gold and copper mineralization over core lengths of 10–19m. Of these, the most notable are 0.14% Cu over 10m at 165–175m downhole, 0.13 g/t Au over 19m at 188–199m downhole, and 0.12% Cu over 10m at 305–315m downhole. Much of this mineralization contains shear and brecciated style mineralization.
The highest-grade intercepts reported in this latest set of results are 2.4 g/t Au over 1.4m (MO-25-21) and 1.26 g/t Au over 1.5m (MO-25-20). Both intersections are hosted in sheared volcanic rocks with disseminated-to-small veinlets of sulphides and local quartz veining in the area of Morono S&P showings.
Focus is Gold Discoveries
1Headquartered in Vancouver, British Columbia, Harvest Gold is an active explorer for near-surface gold deposits and copper-gold porphyry deposits, noted John Newell of John Newell and Associates in a 2025 technical analyst article. The company has three properties, Mosseau, Urban-Barry, and LaBelle, which together encompass 377 claims over 20,017 hectares and cover 50 kilometers (50 km) of favorable strike along mineralized shear zones.
At its cornerstone Mosseau project, in which Harvest may earn a 100% interest, prior to the company's 2025 drill program, an airborne magnetic survey, compilation work, and a field program comprising prospecting, geological mapping, and soil sampling in central Mosseau were done, according to the company's website. Harvest identified drill targets to the north, which host numerous gold showings that remain open along strike and at depth; and in the central part and along the Kiask River mineralized corridor, areas with limited historical exploration, and the focus of the explorer's 2024 field work.
Dr. Quinton Hennigh, geological adviser at Crescat Capital, said in a 2025 interview that Mosseau showed promise.
"Looking at the geological structure, the Mosseau property to the west appears to be an early-stage prospective version of the Windfall target," he said. Windfall, owned by Gold Fields Ltd. (GFI:NYSE; GFI:JSE), is 45–70 km east of Harvest's three projects. "Is it guaranteed? No, but it's certainly an intriguing section of the greenstone belt with significant potential," Hennigh added. "I appreciate companies pursuing substantial targets."
Crescat Capital was intrigued enough to help fund Harvest's 2024 field program at Mosseau, and Crescat remains the Canadian explorer's largest shareholder today.
According to Newell, "Mosseau is large, underexplored and strategically located, a setup primed for discovery."
As for its stock, Newell wrote, if it can hold above CA$0.07/share and volume builds, HVG could enter a new upleg. His target price on Harvest Gold implies a 146% return from its midday Jan. 8 price. Newell's rating on the explorer is Speculative Buy.
Urban Barry is a second project on which Harvest has a 100% earn-in option, according to the company.
The property straddles the Urban Barry Greenstone Belt's southern margin, encompasses 6,879 hectares within 121 claims, and covers about 20 km of favorable strike.
Harvest completed a 1,574-line-kilometer, high-resolution helicopter survey of the project in early 2024, which was followed by a program of prospecting and geological mapping done by a contracted firm.
Harvest owns the La Belle project that covers a continuous block of 60 mining claims, spans 3,394 hectares, and overlays the same geological contact as Mosseau and Urban Barry. Little exploration has been done at this property historically.
The location of Harvest Gold's trio of projects is noteworthy, according to Newell. All are in the Quebec side of the world-renowned Abitibi, "one of the richest gold-bearing regions on the planet," which "has supported continuous mining for more than a century" and which is "home to legendary camps like Timmins, Kirkland Lake, Val-d'Or and Rouyn-Norand," Newell described. In the Abitibi, more than 200,000,000 ounces (200 Moz) of gold have been produced.
"The Abitibi has proven time and again that it rewards patient, technically driven exploration," the expert added.
Within the Abitibi, Harvest Gold's projects are all in the Urban Barry Greenstone Belt, largely owned by Gold Fields but also the location of BonTerra Resources Inc.'s (BTR:TSX.V; BONXF:OTCMKTS; 9BR:FSE) Gladiator and Barry deposits.
"What sets Harvest apart is that it controls some of the only remaining significant land positions in the belt not held by Gold Fields," Newell pointed out.
Also, Harvest Gold boasts a "discovery-driven team with a track record of success in the very geological setting," wrote Newell. "Harvest is exploring and doing all the not-always-market-driven fundamental groundwork and geophysical work the majors are looking for in a world-class exploration team."
For instance, CEO Mark has four decades of leadership experience in public resource companies, including VMS Ventures Inc. and North American Nickel Inc. Louis Martin, on the technical team, has 40 years of experience with Abitibi geology, during which he led the prefeasibility study on Clifton Star Resources Inc.'s 4.5 Moz Duparquet gold project.
Strong Year Predicted for Gold
The outlook for gold in 2026 is one of continued growth and rising prices, experts say.
"Gold enters 2026 with a rare combination of strength and stability," noted an FXLeaders article dated Jan. 4. "Supported by accommodative monetary policy, persistent geopolitical risk, cooling labor market dynamics and unprecedented central bank demand, the metal remains firmly positioned as a core asset in an increasingly complex global environment."
Recent price consolidation appears to be bolstering the basis for the next move up, and gold may challenge US$5,000 per ounce (US$5,000/oz) this year.
HSBC predicts a volatile gold trade this year and resulting fluctuations in the gold price between US$3,950 and US$5,050 during H1/26 due to increasing geopolitical risks and debt, reported Kitco News in a Jan. 8 article. However, HSBC analysts expect an H2/26 correction in the price that will take it to US$4,450/oz at year-end or even lower if geopolitical risks wane or the U.S. Federal Reserve stops interest rate cuts.
"Any junior would be ecstatic over these results as a greenfield brand new discovery," Rick Mills wrote.
For 2027, HSBC significantly raised its average gold price estimate to US$4,625/oz from US$3,950, and for 2028, to US$4,700/oz from US$3,630. For 2029, it provided an average gold price forecast of US$4,775/oz.
"Investors can benefit from diversifying their exposure to global assets, particularly foreign exchange, through gold," said HSBC's Rodolphe Bohn, currencies and commodities strategist. "It offers resilience during periods of significant turbulence and holds potential for further appreciation."
Bank of America believes gold will reach US$5,000/oz this year, according to Head of Metals Research Michael Widmer, Kitco News reported on Jan. 5. The bank expects global gold supply to decline 2% and all-in sustaining costs in the sector to rise 3% to about US$1,600/oz in 2026.
For this year, Widmer expects the bullish environment to continue and gold to remain a hedge and an alpha source. He anticipates gold producers to see a strong increase in profitability, with total EBITDA projected to rise 41% to about US$65 billion. U.S. monetary policy could drive another rotation into gold, he added.
"I've highlighted before that the gold market has been very overbought, but it's actually still underinvested," Widmer wrote. "There is still a lot of room for gold as a diversification tool in portfolios."
J.P. Morgan Global Research expects the gold price to average about US$5,055/oz by Q4/26, then increase to US$5,400 by 2027E, reported Trading View on Jan. 4.
"While this rally in gold has not, and will not, be linear, we believe the trends driving this rebasing higher in gold prices are not exhausted," said Natasha Kaneva, head of global commodities strategy at J.P. Morgan. "The long-term trend of official reserve and investor diversification into gold has further to go."
For Goldman Sachs, gold still holds the spot as its single favorite long commodity as 2026 kicks off. It forecasts continued robust central bank gold buying this year, averaging 70 tons per month, and predicts a year-end 2026 gold price of US$4,900/oz.
The Catalyst: More Drill Results
The next near-term, potential stock price-boosting event for Harvest Gold is the release of the pending results of 10 holes already drilled in Mosseau's central portion, the release noted.
There, Harvest previously identified several coincidental soil geochemical anomalies associated with airborne magnetic features.
High-Reward Opportunity
Newell, in his review of Harvest, highlighted its district-scale exploration potential in a Tier 1 belt, world-class jurisdiction, strong institutional and technical backing, experienced management and technical team, near-term catalysts, and multiple shots on goal.
"Harvest Gold deserves a closer look from speculators seeking high-reward opportunities in the junior mining sector," the expert wrote.
As for its stock, Newell wrote, if it can hold above CA$0.07/share and volume builds, HVG could enter a new upleg. His target price on Harvest Gold implies a 146% return from its midday Jan. 8 price. Newell's rating on the explorer is Speculative Buy.
In his Dec. 2, 2025, report, Richard Mills of Ahead of the Herd explained why Harvest's share price took a hit after the junior miner released the first set of drill results from Mosseau's northern part that month. The market erroneously had expected the data to reflect the neighboring Windfall project, and when they did not, investors began selling their positions prematurely, in Mills' opinion.
Streetwise Ownership Overview*
Harvest Gold Corp. (HVG:TSX.V;HVGDF:OCTMKTS)
"We are NOT here for north Mosseau; we are here for the drilling of the central part of the property," Mills wrote. "We have no results, no indications, and yet HVG gets hammered by the partial north results." Those partial north results, Mills added, returned intercepts that were not long but showed "high grade multimetallic minerals in two distinct lenses that might be related to a moderate and relatively untested induced polarization anomaly that can be traced for 600m along strike. Any junior would be ecstatic over these results as a greenfield brand new discovery."
Ownership and Share Structure2
Harvest management and board members own 5% of the company, and of these, President/CEO Rick Mark holds the greatest share. One institution, and the largest shareholder overall, Crescat Capital LLC, has 19.9%. Other institutions own 12.1%. Retail investors own the rest.
Harvest has 121.35 million shares outstanding. Its market cap is CA$5.25 million. Its 52-week range is CA$0.02–0.135 per share.
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- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Harvest Gold Corp.
- Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Disclosure for the quote from the John Newell article published on July 23, 2025
- For the quoted article (published on July 23, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
- Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
