Corvus Gold Inc. (TSX: KOR) (NASDAQ: KOR) announces it has received results from five additional drill holes in the new Lynnda Strip oxide gold discovery (Table 1, Figure 1). Included in this series of results is an additional core hole ML20-171CT which crossed the entire known zone and returned an upper interval of 204.5m @ 1.36 g/t gold with an additional broad, lower grade Lower Zone below (Figure 2). This hole also returned high-grade gold values from the Upper Vein zone returning 37.3m @ 5.39 g/t gold (silver pending) and has a central vein of 10.5m @ 9.99 g/t gold (Figure 3). These additional results are now outlining a large oxide gold discovery with a consistent upper vein zone (see video here: http://www.corvusgold.com/projects/mother-lode/lynnda-strip/) that appears similar but potentially larger to Corvus’ YellowJacket deposit in the western part of the district. The nature of the vein system also appears to Corvus to be similar to the nearby historic Bullfrog deposit mined by Barrick Gold in the 1990’s.
Based on the results obtained to date, Corvus believes that the additional Lynnda Strip drill holes are defining a large and continuous oxide gold system that now stretches for over 700 metres in width. Given recent results released by Coeur Mining Inc. on their property, drilling south of Lynnda Strip and the current extensive drill site construction by both Coeur Mining Inc. and AngloGold Ashanti on their properties North and South of the Lynnda Strip discovery, it appears the system is extensive along strike. In addition, positive results were returned from Corvus’ follow-up drilling at the South Merlin target (ML20-180 with 83.8m @ 0.58 g/t gold, silver pending) where Corvus will be extending drilling a further 300 metres to the west to link up with the drilling at our new Owl Creek target.
Corvus has an additional 20 holes either pending or planned in this phase of drilling at Lynnda Strip that will be assessing an area of approximately 1 kilometre as well as testing new similar structural targets to the west. The goal of this program will be to determine the initial mineral resource contained on the Corvus land package and its implication on the adjoining ground to the north and south.
Jeffrey Pontius, President and CEO of Corvus, said, “These continuing positive results from the new Lynnda Strip discovery have confirmed the expanding size of this large, Round Mountain type system containing several, exceptional, broad, vein zones. Given the current aggressive drill programs to the north and south of the Lynnda Strip, it appears we are in the middle of a new, large, Nevada, oxide gold discovery that could represent a major expansion of exploration and development in the Bullfrog District. Corvus will continue to provide its shareholders ongoing updates on its progress with this new Nevada discovery and its implication on the overall development of the eastern Bullfrog Gold District.”
Table 1: Lynnda Strip & South Merlin – New Discovery 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 cut-off unless otherwise indicated below)
|Drill Hole #||from (m)||to (m)||Interval (m)||Gold (g/t)||Silver (g/t)||Comment|
AZ 090 dip-65
1 g/t cut
|inc||278.00||288.5||10.50||9.99||n/a||2 g/t cut|
AZ 085 dip-60
1 g/t cut
|inc||329.18||333.76||4.58||1.25||n/a||Lower Vein #1
1 g/t cut
|inc||342.90||347.47||4.57||2.29||n/a||Lower Vein #2
1 g/t cut
|inc||391.67||394.72||3.05||3.20||n/a||Lower Vein #3
1 g/t cut
|478.54||481.58||3.04||0.23||n/a||(hole ended in oxide gold in Lower Zone)|
AZ 080 dip-60
1 g/t cut
1 g/t cut
AZ 080 dip-60
|329.18||438.91||109.73||0.53||n/a||(hole ended in oxide gold in Upper Zone)|
1 g/t cut
AZ 085 dip-60
1 g/t cut
Figure 1. Location map for new Lynnda Strip drill holes, East Bullfrog District, Nevada
Figure 2. Cross-section along Lynnda Strip oxide deposits, showing large low-grade zone (shaded orange) and high-grade upper and lower vein zones
Figure 3. High-grade Upper Vein/stockwork Zone. Lynnda Strip deposit (10.5m @ 10 g/t Au) & two vein photos with ~16 and 23 g/t gold (first photo has abundant Acanthite, silver)
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 (“NI 43-101”), has supervised the preparation of the scientific and technical information that forms the basis for this news release and has reviewed and 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 also reviewed and approved the disclosure herein. Mr. Brechtel is not independent of Corvus, as he is the CAO 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 mineral 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.
Mr. Wilson, 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.
Metallurgical testing on North Bullfrog and Mother Lode samples has been performed by McClelland Analytical Services Laboratories Inc. of Sparks Nevada (“McClelland”), Resource Development Inc. of Wheatridge, CO (RDi) and Hazen Research Inc. of Golden, CO (HRi). McClelland is an ISO 17025 accredited facility that supplies quantitative chemical analysis in support of metallurgical, exploration and environmental testing using classic methods and modern analytical instrumentation. McClelland has met the requirements of the IAS Accreditations Criteria for Testing Laboratories (AC89), has demonstrated compliance with ANS/ISO/IEC Standard 17025:2005, General requirements for the competence of testing and calibration laboratories, and has been accredited, since November 12, 2012. Hazen Research Inc. (“Hazen”), an independent laboratory, has performed flotation, AAO testing and cyanide leach testing on samples of sulphide mineralization from the YellowJacket zone and Swale area of Sierra Blanca, and roasting tests on Mother Lode flotation concentrate. Hazen holds analytical certificates from state regulatory agencies and the US Environmental Protection Agency (the “EPA”). Hazen participates in performance evaluation studies to demonstrate competence and maintains a large stock of standard reference materials from the National Institute of Standards and Technology (NIST), the Canadian Centre for Mineral and Energy Technology (CANMET), the EPA and other sources. Hazen’s QA program has been developed for conformance to the applicable requirements and standards referenced in 10 CFR 830.120 subpart A quality assurance requirements, January 1, 2002. Resource Development Inc. is a state-of-the-art laboratory for metallic and industrial minerals filling a need for high quality, cost-effective, and timely technical services for the international mining industry.
For additional information see the following: “Technical Report and Preliminary Economic Assessment for Gravity Milling and Heap Leach Processing at the North Bullfrog Project, Bullfrog Mining District, Nye County, Nevada”, dated November 21, 2020 with an effective date of October 7, 2020 and “Technical Report and Preliminary Economic Assessment for BIOX Mill and Heap Leach Processing at the Mother Lode Project, Bullfrog Mining District, Nye County, Nevada”, dated November 21, 2020 with an effective date of October 7, 2020, each of which is available under Corvus’ profile on SEDAR at www.sedar.com.
About the North Bullfrog & Mother Lode Projects, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers approximately 90.5 km2 in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 1,134 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 445 federal unpatented mining claims on the Mother Lode project which totals approximately 36.5 km2 which it owns 100%. The total Corvus 100% land ownership now covers over 127 km2, hosting two major new Nevada gold discoveries.
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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