Infill drilling at Corvus Gold’s Mother Lode project in Nevada has intersected gold outside of the mineralized blocks at the Main zone and extended the Central Intrusive zone (CIZ) at depth.
The drill highlights include 42.7 metres of 1.98 g/t gold and 47.2 metres of 1.43 g/t gold from the Main zone as well as 18.3 metres of 1.82 g/t gold from the CIZ oxide unit.
Drilling to date has traced the CIZ over 600 metres of strike and for 200 metres down dip. In January, Corvus reported the discovery of this zone of higher-grade oxide mineralization.
A diamond drill hole completed through the CIZ, with results pending, intersected an oxidized zone with strong alteration across more than 150 metres.
“The ongoing infill work at Mother Lode is favourable for an expansion of the deposit when we conduct our next mineral resource update,”
Jeffrey Pontius, president and CEO
“The ongoing infill work at Mother Lode is favourable for an expansion of the deposit when we conduct our next mineral resource update,” Jeffrey Pontius, president and CEO, said in a release.
“The results from the CIZ are also very encouraging for turning this new discovery below the Main deposit into an expansion of the oxide gold system at depth.”
With C$21 million in the company’s treasury at the start of the year, Corvus anticipates the cash on hand to fund its work programs for 2020 and 2021.
The company has proactive protocols in place due to covid-19 and the work is proceeding on budget and as scheduled.
Measured and indicated resources at the 36.5-sq.-km Mother Lode project stand at 53.4 million tonnes at 0.68 g/t gold for a total of 1.16 million oz. with additional inferred resources of 16.2 million tonnes at 0.46 g/t gold for a total of 241,000 oz; 52.2 million of these tonnes are in the heap leach category.
The company’s 91-sq.-km North Bullfrog project borders Mother Lode; both are located within the Bullfrog mining district.
(This article first appeared in the Canadian Mining
Journal)