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Corvus Gold Drills 19.8 Metres @ 3.52 g/t Gold & 129.5 Metres @ 1.12 g/t Gold in West Zone, Resource Expansion Program, Mother Lode Project, Nevada

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Corvus Gold Drills 19.8 Metres @ 3.52 g/t Gold & 129.5 Metres @ 1.12 g/t Gold in West Zone, Resource Expansion Program, Mother Lode Project, Nevada

 

 

 

 

 

Corvus Gold Inc. (TSX: KOR) (OTCQX: CORVF) announces it has received positive initial results from the Phase III resource expansion drilling program at the Mother Lode Project, Nevada.  Results include a step out hole to the west and a deep central hole that expands the deposit at depth beyond the initial resource announced on September 18, 2018.  Both western holes returned broad zones of higher-grade mineralization (ML18-080, 129.54m @ 1.12 g/t Au) and extends the Western Feeder Zone to the north (ML18-079, 19.81m @ 3.52 g/t Au).

 

 

Corvus recently completed four additional holes to the west and north along the Western Feeder Zone (Figure 1) with assays pending which have all returned encouraging indications that the mineralization remains open.  The Western Feeder Zone is a potential high-grade shoot feature within the broader Fluorspar Canyon Fault (FCF) structural zone initially intersected in numerous holes during the Phase II drill program.

 

 

The Company’s Phase III resource expansion drill program is currently planned through the first quarter of 2019 but could be extended based on favourable results.  Current information shows the Mother Lode deposit continuing to expand the open pit mineralization to the west and to the north along the main north-south axis.  In addition, Corvus will be drilling internal holes to deepen the deposit as well as the Northeast high-grade target which has returned some of the highest-grade results on the project to date (ML18-049, 7.5m @ 21.77 g/t Au, NR18-07,
Mar. 22, 2018). 
   

 

Jeffrey Pontius, President and CEO of Corvus states, “Following our maiden resource announcement, it is exciting to return such encouraging drill results that continue to expand the deposit.  The Mother Lode deposit comprises part of our upcoming Preliminary Economic Assessment and its continued expansion bodes well for project improvement. We have yet to see any indication the deposit is constrained in any direction.  We are working to define the deep feeder structures of the system and continue to follow those to depth with deep core drilling later in the program.  This current phase of drilling will enable us to determine the regional extent of the Mother Lode deposit as we continue to build shareholder value.”

 

 

Table 1

Phase III – Mother Lode 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
ML18-079
AZ 075 dip-65
304.80 324.61 19.81 3.52 n/a West of ML18-050
north Feeder Zone

 

 

 

Drill Hole # from (m) to (m) Interval (m) Gold (g/t) Silver (g/t) Comment
ML18-080
AZ 080 dip-65
153.92 167.64 13.72 1.45 n/a East of ML18-078
inc 155.45 166.12 10.67 1.73 n/a 1 g/t cut
  199.64 207.26 7.62 0.51 n/a  
  214.88 217.93 3.05 0.46 n/a  
  239.27 368.81 129.54 1.12 n/a 0.1 g/t cut off
  239.27 248.41 9.14 1.13 n/a  
inc 239.27 243.84 4.57 1.52 n/a 1 g/t cut
  254.51 301.75 47.24 1.53 n/a  
inc 239.27 243.84 4.57 1.52 n/a 1 g/t cut
inc 271.27 300.23 28.96 1.92 n/a 1 g/t cut
  306.32 361.19 54.87 1.06 n/a New Deep OX
inc 309.37 313.94 4.57 1.74 n/a 1 g/t cut
inc 327.66 345.95 18.29 1.73 n/a 1 g/t cut
inc 350.52 353.57 3.05 1.87 n/a 1 g/t cut

 

 

 

ML18-081
AZ 090 dip-65
120.40 156.97 36.57 1.09 n/a West of ML18-001
inc 120.40 123.44 3.05 2.98 n/a 1 g/t cut
inc 135.64 153.92 18.28 1.35 n/a 1 g/t cut
  201.17 219.46 18.29 1.00 n/a New Deep OX
inc 208.79 213.36 4.57 2.20 n/a 1 g/t cut
  236.22 239.27 3.05 0.53 n/a  
  246.89 249.94 3.05 0.52 n/a  

 

 

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. Pontius, 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 433 federal unpatented mining claims on the Mother Lode project which totals approximately 35 km2 which it owns 100%.  The total Corvus Gold 100% land ownership now covers over 100 km2, hosting two major new Nevada gold discoveries.

 

 

The Mother Lode Project contains a Measured Mineral Resource for the mill of of 3.29 Mt at an average grade of 1.41 g/t gold, containing 149 k ounces of gold and Indicated Mineral Resources for the mill of 9.93 Mt at an average grade of 1.83 g/t gold containing 583 k ounces of gold and an Inferred Mineral Resource for the mill of 2.17 Mt at an average grade of 1.60 g/t gold containing 112 k ounces of gold.  In addition, the project contains a Measured Mineral Resource for oxide, run of mine, heap leach of 20.04 Mt at an average grade of 0.29 g/t gold containing 185 k ounces of gold and an Indicated Mineral Resource for, oxide, run of mine, heap leach of 20.1 Mt at an average grade of 0.37 g/t gold containing 242 k ounces of gold and an Inferred, oxide, run of mine, heap leach Mineral Resource of 14.1 Mt at an average grade of 0.29 g/t gold containing 129 k ounces of gold. Refer to the news release of Corvus dated September 18, 2018 for additional information.

 

 

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.

 

Posted October 2, 2018

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