How Glaciers Are Leading One Explorer to Hidden Québec Gold

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1. Harvest Gold Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship. In addition, Harvest Gold Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. 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.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. 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.

• Harvest Gold is using glacial till sampling to search for gold hidden under the extensive overburden that covers much of its Urban Barry property in Québec.
• A fall 2025 till survey of 137 samples recovered 1,175 gold grains and outlined a dispersal train about 2.5 kilometers long and 1.3 kilometers wide in the property's northwest.
• The area of the dispersal train holds 30% of the pristine gold grains found on the project, and grains that still look pristine have likely not traveled far from their source.
• Harvest plans field reconnaissance and geological mapping near the dispersal train to help prioritize future drilling.
• Harvest earned a 100% interest in Urban Barry in September, subject to a 2% net smelter return royalty retained by EGR Exploration.
• Gold is still trading near US$4,000 an ounce, and central bank buying has remained strong.

Gold at Harvest Gold Corp.'s (HVG:TSX.V; HVGDF:OTCMKTS) Urban Barry property in Québec may be concealed by thick glacial deposits, but the glaciers that left this material behind also left a trail. The property contains prospective volcanic and intrusive rocks, as well as major structures favorable for gold, but extensive overburden covers much of the area, the company has said.

To see through that cover, Harvest is using glacial till sampling. A fall 2025 survey outlined a gold grain dispersal train about 2.5 kilometers long and 1.3 kilometers wide in the northwest part of the property, giving the company a direction to follow toward a possible bedrock source.

During the last ice age, glaciers scraped across the landscape, breaking off pieces of bedrock and carrying them along. When the ice melted, it dropped that material as till, a mix of clay, sand, gravel, and boulders that now blankets much of the region.

If a glacier passed over a gold-bearing rock, it picked up gold grains along with everything else and spread them out in the direction the ice was moving. That leaves a fan- or ribbon-shaped trail of gold grains, known as a dispersal train, that grows fainter with distance. By sampling the till, counting the gold grains in each sample, and mapping where the counts are highest, geologists can work back up-ice toward where the gold came from.

The shape of the grains adds another clue. Gold is soft, so grains that travel a long way in the ice get bent, folded, and worn. Grains that still look pristine, with sharp edges and delicate shapes intact, have likely not traveled far from their source.

In fall 2025, IOS ran a regional till survey for Harvest, collecting 137 samples by hand shovel, according to an April 29 release. The sampling lines ran perpendicular to the main direction of ice flow, the release said. It also said most samples came from a depth of at least one meter, targeting the lodgment till, which the company said typically holds the highest share of material from nearby up-ice sources. The samples yielded 1,175 gold grains, an average of 10.52 grains per sample, with a maximum of 27. Eight samples were anomalous for gold grain count, mostly in the northwest part of the property.

Those samples outlined the dispersal train, which runs along the main direction of the last glacial ice flow, to the southwest. The train itself is made up mostly of modified gold grains, but its area also holds 30% of the pristine gold grains found on the project. Three samples at the up-ice end of the train showed anomalous nickel and chromium, which may indicate ultramafic rocks. Other sample clusters were enriched in cobalt, nickel, silver, and zinc.

Harvest plans to combine the till results with its existing data, then carry out field reconnaissance and geological mapping of outcrops near the dispersal train to prioritize future drilling.

Urban Barry is 19 kilometers long and averages about 4 kilometers wide. Harvest completed its earn-in in September for a 100% interest, subject to a 2% net smelter return royalty retained by EGR Exploration Ltd. (EGR:TSXV), according to a September 21 release from the company. Harvest can buy back half of that royalty for CA$1 million. It must also issue EGR another 1 million shares if the property reaches an NI 43-101 Inferred resource of at least 1 million ounces of gold equivalent. The property lies in the same greenstone belt as Gold Fields Ltd.'s (GFI:NYSE; GFI:JSE) Windfall deposit.

At its Mosseau property, Harvest has outlined eight gold dispersion trains, three of them associated with the Kiask River Corridor. Talks there with the Lac Simon First Nation have moved more slowly than expected, and Harvest has not yet secured a driller. However, the company says Mosseau is suitable for winter drilling, and the planned program of about 4,000 meters remains fully funded, the company has said.

Harvest's properties lie in the broader Abitibi region, home to one of the world's most productive gold belts. The Abitibi greenstone belt spans northern Ontario and southern Québec and is one of the largest and best-preserved Neoarchean greenstone belts in the world, according to the Investing News Network. The belt has been mined continuously since the 1920s.

More than 100 mines have been developed in the belt since 1901, and together they have produced more than 200 million ounces (Moz) of gold. Including that production plus reserves and measured and indicated resources, the belt's gold is estimated at about 300 Moz. At least 15 of its mines have each produced more than 3.5 Moz, and the average deposit grade is higher than the global average, the Investing News Network said. In 2019, Ontario and Québec accounted for more than 75% of Canada's gold production, and the region is known for its mining-friendly policies.

Closer to home, Harvest's stock chart has also caught a technical analyst's eye. In an October 15 update, technical analyst Stewart Thomson told Streetwis Reports that the stock had formed a large base pattern on its monthly chart. He identified CA$0.04 as key support and named CA$0.14 and CA$0.30 as key resistance levels where investors could consider booking profits.

Gold is still trading at historically high levels, even after a pullback this year. Spot gold traded at about US$4,012 an ounce on Tuesday morning, according to an Investor Ideas trading report, after reclaiming the US$4,000 level on Monday. That's down from an all-time high of US$5,501.70 on January 29, based on the LBMA morning price, according to SD Bullion's price history. But it's still well above where gold traded just a few years ago, which keeps the economics strong for explorers and developers.

Central banks are a big reason the floor has held. In Q2 2026, central banks and other institutions bought 288.9 tonnes of gold, up 62% from a year earlier, according to World Gold Council figures reported by Upstox. The council said central banks "remain on course for another strong year of net purchases."

Some major banks still see more upside ahead. Bank of America cut its 2026 average forecast to US$4,360 an ounce in July, citing a more hawkish U.S. Federal Reserve, but said US$5,000 remains within reach once the Fed's tightening cycle ends, according to Reuters. Geopolitical risk is another potential tailwind. Traders are watching the Strait of Hormuz, where an escalation could lift gold's appeal as a safe haven.

Harvest Gold's management and board members own 5% of the company. Crescat Capital LLC has 19.9%, and other institutions own 11.5%. Retail investors own the rest.

It has 179.38 million shares outstanding. Its market cap is CA$4.48 million, and its 52-week range is CA$0.025–CA$0.095 per share.

What is glacial till sampling, and why is Harvest using it?

Till is the clay, sand, gravel, and boulders that glaciers dropped as they melted. If a glacier passed over gold-bearing rock, it spread gold grains in the direction the ice moved. By counting gold grains in till samples, geologists can trace them back up-ice toward their source. Harvest is using the method because extensive overburden covers much of Urban Barry.

What did Harvest's survey find?

The fall 2025 survey of 137 samples recovered 1,175 gold grains, an average of 10.52 per sample. Eight samples were anomalous for gold grain count, mostly in the northwest, and they outlined a dispersal train about 2.5 kilometers long and 1.3 kilometers wide.

Why does the shape of the gold grains matter?

Gold is soft, so grains get bent and worn as they travel in the ice. Pristine grains have likely not traveled far from their source. The dispersal train itself is made up mostly of modified grains, but its area holds 30% of the pristine grains found on the project.

What comes next at Urban Barry?

Harvest plans to combine the till results with its existing data, then carry out field reconnaissance and geological mapping of outcrops near the dispersal train to prioritize future drilling.

What is the status at Mosseau?

Talks with the Lac Simon First Nation have moved more slowly than expected, but the planned winter drill program remains fully funded.

What does the technical picture look like?

In an October 15 update, technical analyst Stewart Thomson said the stock has formed a large base pattern on its monthly chart. He identified CA$0.04 as key support and CA$0.14 and CA$0.30 as key resistance levels.