Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX:KOR) (OTCQX:CORVF) announces it has received further results from its resource expansion drilling program on the western and eastern sides of the Mother Lode deposit (Figure 1). The western expansion zone hole ML18-067 returned 18.3 metres @ 4.02 g/t gold, intersecting the Main Zone in the western most hole reported to date (Table 1). Additionally, within the same hole a continuation of the expanding lower grade oxide zones above the higher grade Main Zone were displayed with separate intercepts of 25.9m @ 0.68 g/t gold & 30.5m @ 0.67 g/t gold. This hole along with hole ML18-060 (24.4m @ 3.1 g/t gold), drilled 70 metres to the northeast, continue to show the trend of increasing grade as we drill to the west, outlining a new high-grade center to the deposit.
The results from the east side of the deposit have shown a continuation of mineralization to the northeast along the projection of the Fluorspar Canyon Fault (FCF) as illustrated by hole ML18-064 (10.7m @ 1.42 g/t gold). In addition, hole ML18-066 has extended the near surface eastern higher-grade zone to the south of previous hole ML18-046 (30.5m @ 2.05 g/t gold) outlining some early opportunity expansion for the future mine plan.
With the continued success of the Mother Lode drill program and as a result of the Company’s recent financing (CDN$4.5M @ $2.60/share, see press release dated June 7, 2018) the phase III program is currently being planned to complete 30,000 metres of resource stepout drilling beginning in early September. With the current phase II drill program, extending through August the project will now have continuous drilling activity for the foreseeable future.
Jeff Pontius, President and CEO of Corvus states, “The new stepout results to the west and east at Mother Lode continue to show an expanding deposit. The result in hole ML18-067 continue to highlight increasing grade to the west and at depth along the main north northeast, west dipping, FCF/dike trend. This expanding high-grade center appears to the primary feeder structure for the Mother Lode deposit and has potential at depth to transition into a larger deposit. This large deep target will be tested in the phase three program with a series of deep core holes with what we believe is the potential to significantly change the scope of the Mother Lode deposit.”
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|
AZ 085 dip-65
|294.13||315.47||21.34||0.97||n/a||East of ML17-033|
|inc||294.13||304.80||10.67||1.42||n/a||1 g/t cut|
|320.04||323.09||3.05||0.43||n/a||Lower OX Zone|
|367.28||370.33||3.05||0.74||n/a||Lower OX Zone|
|373.38||377.95||4.57||0.30||n/a||Lower OX Zone|
AZ 085 dip-50
|33.53||36.58||3.05||0.59||n/a||East of ML17-042|
|Upper OX Zone|
AZ 085 dip-50
|0.00||15.24||15.24||1.56||n/a||South of ML18-046|
|Upper OX Zone|
|inc||0.00||9.14||9.14||2.24||n/a||1 g/t cut|
|inc||76.20||79.25||3.05||1.30||n/a||1 g/t cut|
AZ 085 dip-70
|201.17||227.08||25.91||0.68||n/a||West of ML18-045|
|Upper OX Zone|
|inc||222.50||225.55||3.05||1.18||n/a||1 g/t cut|
|inc||257.56||262.13||4.57||1.15||n/a||1 g/t cut|
|inc||298.70||316.99||18.29||4.02||n/a||1 g/t cut|
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6ff81501-f00f-4766-aa30-3fdb1fa6fc33
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. 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 …read more
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