Corvus Gold Inc. (TSX:KOR) (OTCQX:CORVF) announces it has received results from three stepout holes in the southwest extension of the Mother Lode deposit (Figure 1) highlighted by hole ML18-053 which returned 33.5m @ 2.2 g/t gold including 19.8m @ 3.3 g/t gold. Assay results returned encouraging intercepts showing continued expansion of the deposit which is nearly all oxide to the bottom of the holes (Table 1). This thickening oxide zone to the west is consistent with mineralization found in other holes to the north and could define a fundamental change in the system as drilling progresses west.
To view Figure 1 – Plan map showing recent drill holes on the Mother Lode Project with exploration target area – please click on the following
In addition, Corvus has received results from the initial two scout holes testing the Flatiron Target which is approximately 800 metres southwest of the nearest Mother Lode drill holes (Figure 2). These initial results have outlined multiple zones of low-grade, oxide mineralization with narrower higher-grade zones (Table 2).
|Phase II – Mother Lode Significant Drilling Results|
|(Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.3 g/t cutoff unless otherwise indicated below)
|Drill Hole #||from (m)||to (m)||Interval (m)||Gold (g/t)||Silver (g/t)||Comment|
|ML18-053 AZ 085 dip-85||79.25||94.49||15.24||0.52||n/a||West side of ML Pit|
|Upper L-G OX Zone|
|114.30||126.49||12.19||0.38||n/a||Upper L-G OX Zone|
|134.11||141.73||7.62||0.40||n/a||Upper L-G OX Zone|
|146.30||149.35||3.05||0.67||n/a||Upper L-G OX Zone|
|155.45||163.07||7.62||0.44||n/a||Upper L-G OX Zone|
|173.74||176.78||3.05||1.17||n/a||Upper L-G OX Zone|
|214.88||248.41||33.53||2.20||n/a||Upper & Lower Zone|
|inc||216.41||220.98||4.57||1.14||n/a||1 g/t cut|
|inc||227.08||246.89||19.81||3.29||n/a||1 g/t cut|
|ML18-054 AZ 085 dip-75||131.06||161.54||30.48||1.13||n/a||West of ML18-053|
|Upper L-G OX Zone|
|inc||135.64||141.73||6.09||1.50||n/a||1 g/t cut|
|inc||149.35||155.45||6.09||2.73||n/a||1 g/t cut|
|166.12||172.21||6.09||0.72||n/a||Upper L-G OX Zone|
|233.17||243.84||10.67||0.40||n/a||Upper L-G OX Zone|
|262.13||288.04||25.91||1.50||n/a||Upper & Lower Zone|
|inc||262.13||271.27||9.14||2.65||n/a||1 g/t cut|
|inc||283.46||288.04||4.58||1.49||n/a||1 g/t cut|
|ML18-055 AZ 085 dip-75||188.98||214.88||25.90||0.94||n/a||West of ML18-054|
|Upper LG OX Zone|
|inc||195.07||201.17||6.10||1.30||n/a||1 g/t cut|
|inc||207.26||210.31||3.05||1.87||n/a||1 g/t cut|
|303.28||306.32||3.05||0.41||n/a||Upper L-G OX Zone|
|310.90||315.47||4.57||0.75||n/a||Upper L-G OX Zone|
|326.14||338.33||12.19||1.27||n/a||Upper Main Zone (OX)|
|inc||327.66||335.28||7.62||1.72||n/a||1 g/t cut|
|342.90||353.57||10.67||0.34||n/a||L-G OX Zone|
|361.19||367.28||6.09||1.18||n/a||Lower Main Zone|
Southwest Extension, Mother Lode Deposit
Holes ML18-053 to 055 are located at the Southwestern quadrant of the main Mother Lode target area. In this area of the Mother Lode deposit, the Main Zone of higher-grade mineralization is dominantly oxide (33.5m @ 2.2 g/t Au; 25.9m @ 1.5 g/t Au & 12.2m @ 1.27 g/t Au). This trend of expanding oxide mineralization is similar to recent holes to the north and appears to be marking an encouraging transition in the deposit as exploration progresses west. In addition, these holes continue to show a growing thickness of multiple upper zones of lower grade oxide which could benefit mine design (ML18-55 with 25.9m @ 0.94 & ML18-54 with 30.5m @ 1.13 g/t Au). The Company has at least 12 additional western stepout holes scheduled to the west and northwest as follow up for this expanding area of the deposit.
Flatiron Gold Mineralization
The initial results from the first two holes in the Flatiron target have indicated the Mother Lode gold system extends for almost one kilometre to the west and continues to be controlled by the large Fluorspar Canyon Fault zone (FCF). The broad low-grade intervals with narrow higher-grade zones are oxide and occur on the fault and in the carbonate rock immediately below. This continuation of the Mother Lode gold system in this large stepout target suggests potential for continued expansion of the deposit to the west with room to more than double the current size of the system. Mineralization in these initial holes suggests that gold mineralization is broadening with depth toward hole ML18-058 which had a thick intrusive intersection (assays pending). Further drilling is planned for this area at the end of the Phase 2 program with a series of wide spaced holes west of the Mother Lode deposit targeting the connection of the main Mother Lode with the Flatiron area.
Jeff Pontius, President and CEO of Corvus states “Our ongoing stepout drilling in all directions around the Mother Lode deposit indicates the system continues to grow. The development of multiple new upper oxide zones to the west is encouraging as it could add attractive ounces to the system. In addition, the positive results from our scout drilling at the Flatiron target are also encouraging as they indicate good potential for expanding the Mother Lode system to the west. In addition to ongoing stepout drilling to the west, we have just completed multiple holes following-up on the new Eastern High-Grade discovery with more drilling planned for the area. As before with every group on new holes, the Mother Lode system continues to evolve and expand.”
To view Figure 2 – Location map showing first two scout holes at the Flatiron target, approximately 800 metres southwest of the Mother Lode deposit –
please click on the following link: http://resource.globenewswire.com/Resource/Download/1c46d26d-70f5-422e-a3cb-6a3202a66865
|Flatiron Scout Drilling Results|
|(Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.1 g/t cutoff unless otherwise indicated below)
|Drill Hole #||from (m)||to (m)||Interval (m)||Gold (g/t)||Silver (g/t)||Comment|
|ML18-056||184.40||204.22||19.82||0.43||n/a||Drilled at structure below hole ML18-057|
|AZ 145 dip-75|
|inc||184.40||185.93||1.52||3.73||n/a||1 g/t cut|
|ML18-057||213.36||230.12||16.76||0.24||n/a||Shallow angle, drilled at base of Jasperoid|
|AZ 145 dip-50|
|inc||143.26||144.78||1.52||1.83||n/a||1 g/t cut|
Qualified Person and Quality Control/Quality Assurance
Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has supervised the preparation of the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Pontius is not independent of Corvus, as he is the CEO & President and holds common shares and incentive stock options.
Carl E. Brechtel, (Nevada PE 008744 and Registered Member 353000 of SME), a qualified person as defined by NI 43-101, has coordinated execution of the work outlined in this news release and has approved the disclosure herein. Mr. Brechtel is not independent of Corvus, as he is the COO and holds common shares and incentive stock options.
The work program at Mother Lode was designed and supervised by Mark Reischman, Corvus Gold’s Nevada Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and track all samples prior to sealing and shipping. Quality control is monitored by the insertion of blind certified standard reference materials and blanks into each sample shipment. All resource sample shipments are sealed and shipped to American Assay Laboratories (AAL) in Reno, Nevada, for preparation and assaying. AAL is independent of the Company. AAL’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Finally, representative blind duplicate samples are forwarded to AAL and an ISO compliant third-party laboratory for additional quality control. Mr. Reischman, a qualified person, has verified the data underlying the information disclosed herein, including sampling, analytical and test data underlying the information by reviewing the reports of AAL, methodologies, results and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement. There were no limitations on the verification process
About the North Bullfrog & Mother Lode Projects, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers approximately 72 km² in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 865 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor as well as a large water right. The Company also controls 194 federal unpatented mining claims on the Mother Lode project which totals 1,597 hectares which it owns 100% of.
About Corvus Gold Inc.
Corvus Gold Inc. is a North American gold exploration and development company, focused on its near-term gold-silver mining project at the North Bullfrog and Mother Lode Districts in Nevada. In addition, the Company controls a number of royalties on other North American exploration properties representing a spectrum of gold, silver and copper projects. Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.
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