Ryan Ko elaborates on recent news from Corvus Gold – Wed 13 Jun, 2018

By Big Al

Corvus Gold Press Release issued June 13, 2018

Corvus Gold, Drills 18.3 Metres @ 4.02 g/t Gold, West Zone Stepout Hole, Mother Lode Project, Nevada

Vancouver, B.C… 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.”

Table 1
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
ML18-064 AZ
085 dip-65
294.13 315.47 21.34 0.97 n/a East of ML17-033
Main Zone
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
ML18-065 AZ 085 dip-50 33.53 36.58 3.05 0.59 n/a East of ML17-042
Upper OX Zone
ML18-066 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
68.58 79.25 10.67 0.92 n/a Main Zone
inc 76.20 79.25 3.05 1.30 n/a 1 g/t cut
105.16 108.20 3.05 0.73 n/a Lower OX
149.35 155.45 6.10 0.61 n/a Lower OX
ML18-067 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
233.17 263.65 30.48 0.67 n/a New Zone
inc 257.56 262.13 4.57 1.15 n/a 1 g/t cut
297.18 316.99 19.81 3.76 n/a Main Zone
inc 298.70 316.99 18.29 4.02 n/a 1 g/t cut

Figure 1. Plan map showing recent drill holes on Mother Lode Project with exploration target area

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 …read more

From:: The Korelin Economic Report

Comments are closed.