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Corvus Gold Announces Latest Drill Results From Bulk Tonnage Oxide Deposit

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Corvus Gold Announces Latest Drill Results From Bulk Tonnage Oxide Deposit

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Corvus Gold Inc. (TSX: KOR, OTCQX: CORVF) announce results from a series of large diameter diamond drill holes within the current resource designed to provide materials for advanced metallurgical testing for its North Bullfrog Project in Nevada (Figure 1).

 

The initial Preliminary Economic Assessment (NR 12-07, Feb 28, 2012) outlined indicated resources of 19.5M tonnes at 0.32 g/t gold and inferred resources of 123.3M tonnes of 0.23 g/t gold.

 

Materials from these metallurgical holes will be used for a program of column testing to model the heap leach performance and gold recovery at the project. Large diameter column tests reported earlier this year showed an average gold recovery of 70% at the Sierra Blanca area and 64% at the Jolly Jane area (NR 12-02, Jan 17, 2012). Results are pending from additional holes on the Yellow Jacket high-grade gold and silver zone and a series of large diameter core holes at the Mayflower deposit.

 

Jeff Pontius, Corvus Gold CEO states: “The core drilling displays the quality of the resource at North Bullfrog and the column testing will allow us to develop a more precise processing flow sheet to optimize this large oxide heap leach resource as we move this project toward mine development”.

 

Table 1
Significant intercepts* from metallurgical drilling
(reported widths are approximate true widths)

 

 

HoleID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Area


NB-12-130

2.2

92.5

90.3

0.35

0.62

 

    including

5.4

70.3

64.9

0.42

0.77

Jolly Jane


NB-12-131

56.7

123.9

67.3

0.39

0.52

 

NB-12-132

28.4

106.4

78.1

0.35

0.43

 

    including

37.8

87.9

50.1

0.43

0.46

Mayflower


NB-12-133

12.8

74.1

61.3

0.48

5.12

 

    including

12.8

33.5

20.7

0.86

0.76

 

NB-12-129

40.5

98.0

57.5

0.60

1.01

 

    including

46.6

89.5

42.9

0.70

1.12

 

NB-12-129

115.2

142.6

27.4

0.17

0.22

Savage Valley


NB-12-134

51.9

133.8

81.9

0.23

0.36

 

    including

51.9

67.8

15.9

0.40

0.41

 

NB-12-135

54.3

83.9

29.7

0.18

1.08

 

NB-12-135

147.2

197.5

50.3

0.20

0.41

 

    including

153.3

170.6

17.3

0.31

0.37

Sierra Blanca


NB-12-136

47.5

117.7

70.1

0.37

0.85

 

NB-12-136

60.3

107.6

47.2

0.46

0.91

 
 
 

*Intercepts calculated with 0.1 g/t cutoff and up to 3.7 m of internal waste.

 

 

Figure 1: North Bullfrog Project area showing the location of metallurgical holes reported in this release. For reference, the locations of the current resource as outlined in the Preliminary Economic Assessment (NR 12-07, Feb. 28, 2012) are shown.

 

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The current North Bullfrog program drilling is focussing on infill and step out drilling, advanced metallurgical work and environmental baseline characterization studies in conjunction with a completion of a feasibility study by early 2013 on the Mayflower deposit. The recently completed financing has now provided the Company with the financial resources needed to rapidly advance the mine development assessment of the North Bullfrog area as well as continued exploration of this major new high-grade Nevada gold discovery.

 

About the North Bullfrog Project, Nevada

 

Corvus controls 100% of its North Bullfrog Project, which covers approximately 43 km² in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick Gold. The property package is made up of a number of leased patented federal mining claims and 461 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor. The Company and its independent consultants completed a robust positive Preliminary Economic Assessment on the existing resource in February 2012.

 

The project currently includes numerous prospective gold targets with four (Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an NI 43-101 compliant estimated Indicated Resource of 15 Mt at an average grade of 0.37 g/t gold for 182,577 ounces of gold and an Inferred Resource of 156 Mt at 0.28 g/t gold for 1,410,096 ounces of gold (both at a 0.2 g/t cutoff), with appreciable silver credits. Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted in structural feeder zones with breccias and quartz-sulphide vein stockworks such as the Mayflower and Yellowjacket targets. The Company is actively pursuing both types of mineralization.

Posted June 12, 2012

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The Prospector News

Corvus Gold Announces Latest Drill Results From Bulk Tonnage Oxide Deposit

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Corvus Gold Announces Latest Drill Results From Bulk Tonnage Oxide Deposit

 

 

June 12, 2012
 

Highlights Include:
58 metres @ 0.6 g/t Gold
 

 

60 metres @ 0.48 g/t Gold
   

 

Highlights Include:
58 metres @ 0.6 g/t Gold
 

 

60 metres

 

Vancouver, B.C…. Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) is pleased to announce results from a series of large diameter diamond drill holes within the current resource designed to provide materials for advanced metallurgical testing for its North Bullfrog Project in Nevada (Figure 1).

The initial Preliminary Economic Assessment (NR 12-07, Feb 28, 2012) outlined indicated resources of 19.5M tonnes at 0.32 g/t gold and inferred resources of 123.3M tonnes of 0.23 g/t gold.

Materials from these metallurgical holes will be used for a program of column testing to model the heap leach performance and gold recovery at the project. Large diameter column tests reported earlier this year showed an average gold recovery of 70% at the Sierra Blanca area and 64% at the Jolly Jane area (NR 12-02, Jan 17, 2012). Results are pending from additional holes on the Yellow Jacket high-grade gold and silver zone and a series of large diameter core holes at the Mayflower deposit.

Jeff Pontius, Corvus Gold CEO states: “The core drilling displays the quality of the resource at North Bullfrog and the column testing will allow us to develop a more precise processing flow sheet to optimize this large oxide heap leach resource as we move this project toward mine development”.

Table 1
Significant intercepts* from metallurgical drilling
(reported widths are approximate true widths)

HoleID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Area

NB-12-130
2.2
92.5
90.3
0.35
0.62
 
    including
5.4
70.3
64.9
0.42
0.77
Jolly Jane

NB-12-131
56.7
123.9
67.3
0.39
0.52
 

NB-12-132
28.4
106.4
78.1
0.35
0.43
 
    including
37.8
87.9
50.1
0.43
0.46
Mayflower

NB-12-133
12.8
74.1
61.3
0.48
5.12
 
    including
12.8
33.5
20.7
0.86
0.76
 

NB-12-129
40.5
98.0
57.5
0.60
1.01
 
    including
46.6
89.5
42.9
0.70
1.12
 

NB-12-129
115.2
142.6
27.4
0.17
0.22
Savage Valley

NB-12-134
51.9
133.8
81.9
0.23
0.36
 
    including
51.9
67.8
15.9
0.40
0.41
 

NB-12-135
54.3
83.9
29.7
0.18
1.08
 

NB-12-135
147.2
197.5
50.3
0.20
0.41
 
    including
153.3
170.6
17.3
0.31
0.37
Sierra Blanca

NB-12-136
47.5
117.7
70.1
0.37
0.85
 

NB-12-136
60.3
107.6
47.2
0.46
0.91
 

*Intercepts calculated with 0.1 g/t cutoff and up to 3.7 m of internal waste.

Figure 1: North Bullfrog Project area showing the location of metallurgical holes reported in this release. For reference, the locations of the current resource as outlined in the Preliminary Economic Assessment (NR 12-07, Feb. 28, 2012) are shown.

The current North Bullfrog program drilling is focussing on infill and step out drilling, advanced metallurgical work and environmental baseline characterization studies in conjunction with a completion of a feasibility study by early 2013 on the Mayflower deposit. The recently completed financing has now provided the Company with the financial resources needed to rapidly advance the mine development assessment of the North Bullfrog area as well as continued exploration of this major new high-grade Nevada gold discovery.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately 43 km² in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick Gold. The property package is made up of a number of leased patented federal mining claims and 461 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor. The Company and its independent consultants completed a robust positive Preliminary Economic Assessment on the existing resource in February 2012.

The project currently includes numerous prospective gold targets with four (Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an NI 43-101 compliant estimated Indicated Resource of 15 Mt at an average grade of 0.37 g/t gold for 182,577 ounces of gold and an Inferred Resource of 156 Mt at 0.28 g/t gold for 1,410,096 ounces of gold (both at a 0.2 g/t cutoff), with appreciable silver credits. Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted in structural feeder zones with breccias and quartz-sulphide vein stockworks such as the Mayflower and Yellowjacket targets. The Company is actively pursuing both types of mineralization.

 

Posted June 12, 2012

Share this news article

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