Corvus Gold Inc. (TSX: KOR) (OTCQX: CORVF) announces it has received further positive results from the Phase III resource expansion drilling program at the Mother Lode Project, Nevada (Table 1 & Figure 1). Results include a step out hole to the northwest of the currently defined deposit along the Western Feeder Zone (ML18-083, 65.5m @ 1.53 g/t Au) and a deep expansion of the main deposit in holes ML18-082 & 084 with 22.9m @ 2.53 g/t Au and 54.9m @ 1.6 g/t Au respectively in the deep oxide zone. Drilling continues at the project with mineralization open in all directions including at depth.
Jeffrey Pontius, President and CEO of Corvus states, “Mineralization in hole ML18-083 is encouraging as it demonstrates that the system appears to be getting thicker and better mineralized to the north of the currently defined deposit. We have scheduled a series of eight additional holes to the north and northeast of hole ML18-083 to be drilled during Phase III that potentially opens a new exploration front on the deposit. The Mother Lode deposit continues to grow while adding continuity with additional drilling. In addition, Corvus expects to announce a Preliminary Economic Assessment for the combined North Bullfrog and Mother Lode projects within the next few weeks to provide an initial economic snapshot of this new and growing Nevada Gold District.”
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|
|ML18-082||211.84||220.98||9.14||0.33||n/a||East of ML18-068
|AZ 090 dip-77||225.55||245.36||19.81||0.60||n/a|
|inc||275.84||298.70||22.86||2.53||n/a||1 g/t cut|
|ML18-083||295.66||301.75||6.09||0.32||n/a||West of ML17-031
north Feeder Zone
|AZ 085 dip-70||323.09||388.62||65.53||1.53||n/a|
|inc||323.09||326.14||3.05||1.84||n/a||1 g/t cut|
|inc||330.71||333.76||3.05||2.31||n/a||1 g/t cut|
|inc||338.33||377.95||39.62||1.93||n/a||1 g/t cut|
|ML18-084||233.17||239.27||6.10||0.79||n/a||North of ML17-013
|inc||234.70||237.74||3.05||1.02||n/a||1 g/t cut|
|inc||275.84||278.89||3.05||1.46||n/a||1 g/t cut|
|inc||284.99||324.61||39.62||1.89||n/a||1 g/t cut|
|AZ 090 dip-70||330.71||336.80||6.09||0.87||n/a|
A photo accompanying this announcement is available at
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 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 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.
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