Harvest Gold Pieces Together 50 Kilometers of Québec Gold Ground Near Windfall

Source: Streetwise Reports 10/16/2026

With central banks buying gold through the pullback, Harvest Gold Corp. (HVG:TSX.V; HVGDF:OTCMKTS) has assembled more than 50 kilometers of gold ground near Gold Fields’ Windfall deposit in Québec.Key Investor Takeaways

• Gold is trading around US$4,180 per ounce, and several major banks expect it to climb back toward US$5,000, supported by steady central bank buying.
• Harvest Gold Corp. has spent three years assembling more than 50 kilometers of favorable strike in Québec’s Abitibi region, about 45 to 70 kilometers west of Gold Fields’ Windfall deposit.
• By optioning Mosseau from Vior, which spent about five years assembling the property, Harvest saved years of work. It has since roughly doubled that block by adding LaBelle and connecting claims.
• Drilling at Mosseau in 2025 returned 105.0 grams per tonne gold over 1.15 meters, including visible gold, along the Kiask River Deformation Zone.
• Harvest completed its earn-in for a 100% interest in Urban Barry in September, subject to EGR’s retained 2% net smelter returns royalty.
• A fully funded drill program of about 4,000 meters at Mosseau is the next major catalyst. Harvest must meet its remaining exploration-spending obligation by December 31, 2027, to earn an 80% interest. It can then pursue a joint venture with Vior or acquire the remaining 20% for CA$1.5 million by June 30, 2028.
• Crescat Capital, which owns 19.9% of Harvest, has participated in every Harvest financing since 2021, including the June raise.

Central Banks Keep Buying the Gold Dip

Gold was trading at about US$4,182 per ounce on October 13, up about 2.5% from a year earlier and more than 25% since early 2025, Fortune reported. The metal set a record of US$5,589.38 on January 28, according to GoldSilver, before easing as investors priced in a more hawkish Federal Reserve.

Central banks have kept buying through the pullback. They added a net 39 tonnes of gold in August, bringing purchases to 170 tonnes this year, the World Gold Council reported. China’s central bank bought 20 tonnes, its 22nd straight month of buying. Poland has added 98 tonnes this year as it works toward a target of 700 tonnes. The council said central bank buying “continues to reflect longer-term reserve objectives.”

Wall Street Eyes US$5,000 Gold

Several major banks expect gold to head back toward US$5,000, about 20% above current levels, according to a roundup of bank forecasts by Golden Ark Reserve.

Citi sees gold at US$5,000 within six to 12 months, and Commerzbank raised its 2026 forecast to US$5,000 from US$4,400. Goldman Sachs expects US$4,900 by the end of the year. The Wells Fargo Investment Institute sees US$4,900 to US$5,100 by year-end and US$5,400 to US$5,600 in 2027.

Higher gold prices tend to benefit junior explorers the most, because new discoveries become more valuable and capital is more available for companies working in established gold districts.

A ‘Eureka Moment’ in Québec

Harvest Gold Corp. (HVG:TSX.V; HVGDF:OTCMKTS) had already lined up its first Québec properties when its technical director spotted a gap on the map.

“Our technical director said, ‘Look at this chunk of land down below here. It’s unstaked. It all runs on the same kind of structure,’” President and Chief Executive Officer Rick Mark told Streetwise Reports. “And so we called it LaBelle, and we staked it all ourselves. So that was sort of the first eureka moment.”

Harvest staked LaBelle in March 2024. It was an early piece of a land package that Harvest has assembled over three years in what Mark calls “a very under-recognized area” of Québec’s Abitibi region. “Three years ago, we had nothing when we went in there,” he said.

The company came to Québec from British Columbia, where it had been chasing deep porphyry targets.

“You can’t afford as a junior to be drilling 1,200 meters to find porphyries. You just can’t do it,” Mark said. In Québec, Harvest committed to gold, in “an area in the Abitibi known for mines and gold mines” near Gold Fields Ltd.’s (GFI:NYSE; GFI:JSE) Windfall deposit.

Piecing Together 50 Kilometers of Gold Ground

For Mark, the land package is the story. Assembling continuous ground in Québec is slow, he said, because the province is “a little bit like Nevada in the sense that smaller groups or families or companies own chunks of land.”

Vior Gold Corporation Inc. (VIO:TSX.V; VIORF:OTCQB; VL50:FSE) spent about five years putting the Mosseau property together before optioning it to Harvest in December 2023, Mark said. “So we gained five years by doing the deal with Vior,” he said.

Since then, Harvest has staked LaBelle to the southeast, and Vior has added claims to Mosseau under the option. In May, Harvest staked 42 more claims along Mosseau’s southwestern edge. Mosseau and LaBelle now form one continuous block, which Mark estimates is about double the original Mosseau. Harvest has assembled the combined land position, although its interest in Mosseau remains subject to the Vior option agreement.

“So now we own everything,” he said.

With Urban Barry to the north, the three projects cover 443 claims, about 23,740 hectares, and more than 50 kilometers of favorable strike. The question for investors, Mark said, is whether Harvest Gold has built an asset. “Here’s what you need to know in terms of building a land package in the Abitibi,” he said. “It’s a difficult challenge.”

Harvest expects to earn an 80% interest in Mosseau by meeting its remaining exploration-spending obligation. It can then form a joint venture with Vior or acquire Vior’s remaining 20% interest for CA$1.5 million under the option agreement. A package that large could interest other companies, Mark said, but more high-grade results would let Harvest keep control.

“If we’re successful on this drill program and find some more high-grade, then what we have is the ability to control the package, which is preferable, obviously,” he said.

From Windfall’s Backyard to a High-Grade Hit

Harvest’s first Québec deal, also in December 2023, was an option on Urban Barry, which adjoins the Windfall property. Gold Fields took full ownership of Windfall in 2024 when it bought Osisko Mining for CA$2.16 billion. One of Harvest’s team members had worked on Windfall about 20 years earlier, Mark said. Still, Urban Barry was too early-stage and too large to build a company around on its own.

A contact told Mark that Vior was shopping Mosseau, and about four months of negotiation followed. Under the deal, Harvest can earn 80% of Mosseau, and then either form a joint venture with Vior or buy the remaining 20% for CA$1.5 million.

Technical analyst Stewart Thomson 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.

Vior also received Harvest shares, which would become a significant stake “if Mosseau ever hits and becomes something important,” Mark said.

Mosseau has already produced a discovery. In February, Harvest reported that hole MO-25-25 returned 105.0 grams per tonne gold over 1.15 meters, including visible gold, along the Kiask River Deformation Zone. Airborne magnetics trace the Kiask River mineralized corridor about 32 kilometers along strike onto LaBelle, the company said in an April update.

In September, Harvest earned 100% of Urban Barry from EGR Exploration Ltd. (EGR:TSX.V). A till survey there last fall recovered 1,175 gold grains from 137 samples and outlined a dispersal train about 2.5 by 1.3 kilometers in the property’s northwest.

Upcoming Catalysts

The biggest near-term catalyst is a planned fully funded drill program of about 4,000 meters in approximately 20 holes at Mosseau. The program is designed to follow up on the high-grade discovery and test additional structural and geophysical targets. However, as of October 5, Harvest said negotiations with the Lac Simon First Nation were progressing more slowly than anticipated and that it had yet to secure a driller within the available timeframe. The company said Mosseau is suitable for winter drilling and that the program remains fully funded.

The program is also the last step in Harvest’s earn-in. The company’s June raise of about CA$3.17 million was designed to cover its final exploration obligation of about CA$1.25 million at Mosseau, Mark said. Harvest has until the end of 2027 to meet that obligation.

“That’s important to know,” Mark said.

In the meantime, Harvest’s and Vior’s chief financial officers are reconciling the spending so far to confirm exactly how much remains. Crescat Capital took part in the June raise and has participated in every Harvest financing since 2021, Mark said.

Harvest is also owed CA$1 million within 30 days of Blossom Gold Inc. (BGAU:TSX) closing a debt or equity financing for the past-producing Rosebud gold project in Nevada, which Harvest sold in 2015.

A Century-Old Gold Belt and a Long-Term Chart Base

The Abitibi greenstone belt stretches across northern Ontario and southern Québec and ranks among the world’s largest and best-preserved Neoarchean greenstone belts. Mining in the region dates back to the 1920s and has continued for roughly a century, according to the Investing News Network.

Since 1901, the belt has hosted more than 100 mines and produced more than 200 million ounces of gold. Its total endowment, including historical production, reserves, and measured and indicated resources, is estimated at about 300 million ounces. At least 15 deposits have each produced more than 3.5 million ounces. Grades across the district are generally above global averages, reflecting the orogenic gold systems concentrated along its major deformation zones. Ontario and Québec together accounted for more than 75% of Canada’s gold production in 2019, and the region benefits from a mining-oriented regulatory and permitting environment, the Investing News Network said.[OWNERSHIP_CHART-299]

Harvest Gold’s chart is drawing attention as well. In an October 15 update to Streetwise Reports, 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 named CA$0.14 and CA$0.30 as key resistance levels where investors could consider booking profits. At the time of this article, the stock is trading at CA$0.045.

Ownership and Share Structure¹

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$8.03 million, and its 52-week range is CA$0.04–CA$0.11 per share.

Common Questions from Investors

What is driving gold prices?

Gold has eased from its January record of US$5,589.38 as investors priced in a more hawkish Federal Reserve. Central banks keep buying, though, adding 170 tonnes so far this year, and several major banks see gold returning toward US$5,000.

What is Harvest Gold’s strategy?

Harvest is assembling a large, continuous land position in the Abitibi, one of the world’s most productive gold belts. CEO Rick Mark says more high-grade results would let the company keep control of that package.

How big is Harvest Gold’s land position?

Its Mosseau, LaBelle, and Urban Barry properties together cover 443 claims, about 23,740 hectares, and more than 50 kilometers of favorable strike.

How does Harvest relate to Gold Fields’ Windfall project?

Harvest’s properties lie about 45 to 70 kilometers west of Windfall, which Gold Fields expects to produce about 300,000 ounces of gold a year starting in 2029. The companies have no operational or partnership ties.

What are Harvest’s next catalysts?

The main one is a fully funded drill program of about 4,000 meters in about 20 holes at Mosseau, which would also complete Harvest’s earn-in of an 80% interest. Harvest is also owed CA$1 million once Blossom Gold closes a financing for the Rosebud project in Nevada.

Does Harvest Gold have outside support?

Crescat Capital owns 19.9% of the company and has participated in every Harvest financing since 2021, including its June raise.

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Important Disclosures:

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.
4. 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. 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.

( Companies Mentioned: HVG:TSX.V;HVGDF:OTCMKTS, )

Source: https://www.streetwisereports.com/article/2026/10/15/harvest-gold-pieces-together-50-kilometers-of-qu-eacute-bec-gold-ground-near-windfall.html