Corvus Gold Inc. (TSX: KOR) (NASDAQ: KOR) announces it has received results from four additional drill holes in the new Lynnda Strip oxide gold discovery (Table 1, Figure 1). These results are continuing to expand this large, new, oxide, bulk tonnage, Nevada gold discovery with ML20-186 returning 108.2m @ 1.13 g/t Au, hole ML20-188 with 114.30m @ 0.96 g/t Au and hole ML20-189 with 178.3m @ 0.66 g/t Au in the upper zone followed by 100.6m @ 0.94 g/t Au in the lower zone. In addition, these results continue to expand the large vein systems found in this deposit as shown in holes ML20-186 (36.6m @ 2.75 g/t Au), ML20-188 (64m @1.19 g/t Au) and ML20-189 (10.7m @ 2.85 g/t Au). The Lynnda Strip deposit is demonstrating good continuity across its width and the large vein/stockwork zones within it. The thickness, grade and strong oxidation of this new discovery make it an ideal target for open-pit mining and heap leach processing.
Hole ML20-190 was lost in the upper part of the Upper Lynnda Strip Zone at 219 metres down hole due to poor drilling conditions. This depth is close to our projected major structural zone in between our Lynnda Strip and South Merlin zones and will be addressed with several reverse circular (RC) and core-tail holes to connect the two areas with potential for a major vein system on the bounding structure.
Corvus will continue to expand the Lynnda Strip discovery with an initial mineral resource estimate planned for early fall of this year to assess its potential value for a future mining operation. In addition, Corvus has a number of other targets in the region that it will look to address in the future to determine how extensive this new gold system is regionally. Given the positive results from several new covered targets and the abundant drilling activity in the eastern part of the Bullfrog District, Corvus expects to see other discoveries and expansion results over the coming year.
Jeffrey Pontius, President and CEO of Corvus, said, “The recent Lynnda Strip discovery is an example of the potential that exists in the re-emerging Bullfrog Gold District. These new covered target discoveries have opened the door to not only the potential of the Mother Lode to Silicon belt but the District as a whole. As Corvus continues its drive to add value for its shareholders across our large District-wide land package, the Company is also focused on delivering the first producing mine in the District at its North Bullfrog Project. As a first mover for District gold production, the Company will be in a unique position as a key player in further district consolidation. Corvus, as a District leader in exploration, discovery and gold production will leverage its strategic land position for the benefit of its shareholders, our communities and the region as a whole.”
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 078 dip-60
1 g/t cut
AZ 090 dip-60
1 g/t cut
1 g/t cut
|inc||339.85||349.00||9.15||1.04||n/a||Lower Vein #1
1 g/t cut
|inc||382.52||391.67||9.15||1.44||n/a||Lower Vein #2
1 g/t cut
|inc||396.24||440.44||44.20||1.41||n/a||Lower Vein #2
1 g/t cut
|160.02||219.46||59.44||0.33||n/a||Lost hole in the Upper Zone|
Figure 1. Location map for new Lynnda Strip drill holes, East Bullfrog District, Nevada is available
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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