Assay Highlights of Western Extension
Include:
Corvus Gold Inc. (“Corvus” or the “Company”) - (TSX:KOR)
(OTCQX:CORVF) announces it has received further assay results from
ten new drill holes from its 2017 Phase I drill program at the
Mother Lode project in southern Nevada (Table 1). The latest
results include northwest and deep in-pit drilling, as well as
step-out drilling to the west highlighted by hole ML17-020, which
returned 96.0 m @ 1.35 g/t gold and 1.24 g/t silver. Results
continue to expand high-grade zones both laterally and at depth,
which is potentially increasing the overall size and grade of the
Mother Lode deposit (Figure 1).
The Phase I drill program, which ended December
16, 2017, completed 12,829 metres of drilling, representing 42
holes, 25 of which have now been reported. Phase II of the
exploration drill program has commenced and is scheduled to drill
10,000 metres, focused on further expanding the deposit to the
west, north and at depth.
Western Extension
Holes ML17-018 through ML17-022 successfully
demonstrate the continued grade and thickness of the shallow
dipping sediment hosted deposit to the west. The new holes
have drilled deeper in the system and appear to have intersected a
new zone of mineralization below the currently targeted deposit.
This is illustrated by hole ML17-020, which ended in 7.62 m @ 3.46
g/t gold and 9.98 g/t silver within 27.4 m at 1.31 g/t gold and 3.9
g/t silver. Most of the new deeper holes ended in
mineralization that is currently believed to be related at
depth. Deeper drilling will be required to evaluate the
potential of this new zone and will be conducted in the 2018
exploration program.
Northwestern Expansion
Drill hole ML17-017 (35.1 m @ 1.97 g/t gold)
from the northwestern extension of the deposit, extends
mineralization intercepted in hole ML17-003 and historic hole
ML-338 (56.6 m @ 1.35 g/t gold & 73.2 m @ 2.05 g/t gold) to the
west. Hole ML17-017, similar to ML-17-003 and historic hole
ML-338 was not completed to its intended target depth, as they were
lost due to poor rock conditions. The Company completed two
additional holes to the north of hole ML-338 during the Phase I
drill program with assays pending. These two new northern
step-out holes were completed to the intended target depth and
should provide insight into the expansion potential of this zone of
mineralization.
In-Pit Depth Expansion
Drill holes ML17-016 and ML17-023 through
ML17-025 were drilled under the historic Mother Lode pit and are
designed to verify and potentially expand the historic mineral
resource estimate. The intercepts in these holes have matched
well with the historic resource which is generally thinner and
lower grade on the southern end of the deposit.
Significantly, it appears drilling has intersected a new zone of
mineralization at depth below the historic resource as illustrated
by hole ML17-025 (13.7 m @ 1.41 g/t gold) and hole ML17-016 (9.1 m
@ 0.98 g/t gold & 12.2 m @ 0.96 g/t gold). Prior
historical drilling primarily used vertical drill holes to a
nominal depth of about 500 feet (150 m), with many holes ending in
mineralization.
Figure 1. Plan map showing recent drill
holes on the Mother Lode Project
http://www.globenewswire.com/NewsRoom/AttachmentNg/de6679d8-b17f-4361-ab20-82ed15ae0261
Jeff Pontius, President and CEO of Corvus states
“As we continue to receive results from the Mother Lode deposit,
the continuity of this new Nevada gold discovery is exciting with
not one drill hole missing mineralization to date. The thickness,
high grade and extent of the deposit improves with each round of
results. The start of our expanded 2018 Phase II drill
program is exciting as we continue to march the deposit to the
north and west as well as assess the depth extent of the
system. Mother Lode is exceeding our expectations and
developing into a major new Nevada gold discovery.”
Table
1Phase I - Mother Lode Significant
Drilling Results – Main & North Targets
(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 |
ML17-016 |
140.21 |
143.26 |
3.05 |
1.04 |
0.26 |
South end of deposit |
AZ 090 dip-45 |
158.50 |
167.64 |
9.14 |
1.11 |
0.20 |
|
inc |
161.54 |
166.12 |
4.58 |
1.62 |
0.22 |
|
|
175.26 |
184.40 |
9.14 |
0.98 |
1.96 |
New Deep In-pit Zone |
inc |
179.83 |
182.88 |
3.05 |
2.36 |
3.31 |
New Deep In-pit Zone |
|
216.41 |
228.60 |
12.19 |
0.96 |
1.61 |
New Deep In-pit Zone |
inc |
217.93 |
219.46 |
1.52 |
5.52 |
4.09 |
New Deep In-pit Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-017 |
268.22 |
272.80 |
4.58 |
0.68 |
0.59 |
Northwest Extension |
AZ 090 dip-70 |
291.08 |
326.14 |
35.06 |
1.97 |
2.09 |
Northwest Extension |
inc |
292.61 |
324.61 |
32.00 |
2.10 |
2.17 |
Northwest Extension |
|
347.47 |
352.04 |
4.57 |
0.55 |
0.33 |
Northwest Extension |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-018 |
105.16 |
187.45 |
82.29 |
1.11 |
n/a |
Drilled west of ML17-006 |
inc |
105.16 |
132.59 |
27.43 |
1.57 |
1.32 |
|
inc |
156.97 |
172.21 |
15.24 |
1.72 |
2.75 |
|
|
202.69 |
208.79 |
6.10 |
0.60 |
n/a |
|
|
220.98 |
227.08 |
6.10 |
0.62 |
0.51 |
|
AZ 090 dip-65 |
236.22 |
245.36 |
9.14 |
1.09 |
1.65 |
New Deep Main Zone |
inc |
240.79 |
245.36 |
4.57 |
1.41 |
2.61 |
New Deep Main Zone |
|
|
|
|
|
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-019 |
92.96 |
109.73 |
16.77 |
0.47 |
0.57 |
Drilled west of ML17-004 |
AZ 090 dip-87 |
146.30 |
213.36 |
67.06 |
1.32 |
1.92 |
|
inc |
147.83 |
166.12 |
18.29 |
1.49 |
3.08 |
|
inc |
170.69 |
176.78 |
6.09 |
1.13 |
0.73 |
|
inc |
182.88 |
211.84 |
28.96 |
1.58 |
1.99 |
|
|
291.08 |
294.13 |
3.05 |
0.96 |
0.47 |
|
|
336.80 |
345.95 |
9.15 |
0.86 |
1.36 |
New Deep Main Zone |
inc |
336.80 |
339.85 |
3.05 |
1.95 |
3.19 |
New Deep Main Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-020 |
120.40 |
216.41 |
96.01 |
1.35 |
1.24 |
Using 0.1 g/t cutoff |
AZ 090 dip-65 |
121.92 |
143.26 |
21.34 |
0.49 |
0.60 |
Drilled west of ML17-007 |
|
147.83 |
167.64 |
19.81 |
1.82 |
1.23 |
|
|
172.21 |
210.31 |
38.10 |
2.12 |
1.98 |
|
inc |
173.74 |
196.60 |
22.86 |
3.08 |
2.21 |
|
|
259.08 |
265.18 |
6.10 |
0.49 |
2.22 |
New Deep Main Zone |
|
271.27 |
298.70 |
27.43 |
1.31 |
3.90 |
New Deep Main Zone |
inc |
275.84 |
283.46 |
7.62 |
3.46 |
9.98 |
New Deep Main Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-021 |
100.58 |
126.49 |
25.91 |
0.44 |
0.49 |
Drilled west of ML17-005 |
AZ 090 dip-45 |
147.83 |
178.31 |
30.48 |
2.54 |
1.92 |
|
|
227.08 |
262.13 |
35.05 |
1.95 |
2.48 |
|
inc |
227.08 |
246.89 |
19.81 |
2.28 |
2.05 |
|
inc |
251.46 |
262.13 |
10.67 |
2.07 |
4.20 |
|
|
|
|
|
|
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-022 |
102.11 |
124.97 |
22.86 |
0.41 |
0.37 |
Drilled west of ML17-009 |
AZ 090 dip-85 |
129.54 |
153.92 |
24.38 |
0.74 |
0.80 |
|
inc |
131.06 |
135.64 |
4.58 |
1.34 |
1.71 |
|
|
170.69 |
216.41 |
45.72 |
1.33 |
1.25 |
|
inc |
172.21 |
207.26 |
35.05 |
1.57 |
1.29 |
|
|
329.18 |
338.33 |
9.15 |
0.40 |
0.30 |
New Deep Main Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-023 |
64.01 |
67.06 |
3.05 |
0.81 |
1.96 |
|
AZ 360 dip-90 |
79.25 |
99.06 |
19.81 |
0.73 |
1.23 |
|
inc |
89.92 |
94.49 |
4.57 |
1.21 |
1.93 |
|
|
103.63 |
111.25 |
7.62 |
2.69 |
2.60 |
New Deep In-pit Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-024 |
0.00 |
15.24 |
15.24 |
2.76 |
1.42 |
|
AZ 360 dip-90 |
19.81 |
41.15 |
21.34 |
0.58 |
0.30 |
|
|
79.25 |
112.78 |
33.53 |
0.94 |
1.37 |
|
inc |
82.30 |
100.58 |
18.28 |
1.40 |
1.79 |
|
|
117.35 |
129.54 |
12.19 |
0.56 |
0.38 |
New Deep In-pit Zone |
|
140.21 |
149.35 |
9.14 |
0.55 |
2.72 |
New Deep In-pit Zone |
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-025 |
0.00 |
50.29 |
50.29 |
1.74 |
1.17 |
|
inc |
0.00 |
19.81 |
19.81 |
2.26 |
1.60 |
|
inc |
24.38 |
42.67 |
18.29 |
1.99 |
1.13 |
|
AZ 360 dip-90 |
86.87 |
108.20 |
21.33 |
1.59 |
2.11 |
|
inc |
86.87 |
103.63 |
16.76 |
1.90 |
2.53 |
|
|
138.68 |
141.73 |
3.05 |
2.90 |
0.85 |
New Deep In-pit Zone |
|
150.88 |
164.59 |
13.71 |
1.41 |
4.39 |
New Deep In-pit Zone |
inc |
152.40 |
158.50 |
6.10 |
2.09 |
6.61 |
New Deep In-pit Zone |
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. 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
140 federal unpatented mining claims on the Mother Lode project
which totals 1,147 hectares, which it owns 100% of.
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.
On behalf ofCorvus Gold
Inc.
(signed) Jeffrey A. PontiusJeffrey A.
Pontius,President & Chief Executive Officer
Contact Information:Ryan KoInvestor
RelationsEmail: info@corvusgold.comPhone: 1-844-638-3246 (toll
free) or (604) 638-3246
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements and forward-looking information (collectively,
“forward-looking statements”) within the meaning of applicable
Canadian and US securities legislation. All statements, other
than statements of historical fact, included herein including,
without limitation, statements regarding the rapid and effective
capture of the potential of our new Mother Lode project, the
potential for new deposits and expected increases in a system’s
potential; anticipated content, commencement and cost of
exploration programs, anticipated exploration program results, the
discovery and delineation of mineral deposits/resources/reserves,
the potential to discover additional high grade veins or additional
deposits, the potential to expand the existing estimated resource
at the Mother Lode project, the potential for any mining or
production at the Mother Lode project, are forward-looking
statements. Information concerning mineral resource estimates may
be deemed to be forward-looking statements in that it reflects a
prediction of the mineralization that would be encountered if a
mineral deposit were developed and mined. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, the Company's inability to produce minerals
from its properties successfully or profitably, to continue its
projected growth, to raise the necessary capital or to be fully
able to implement its business strategies, and other risks and
uncertainties disclosed in the Company’s 2017 Annual Information
Form and latest interim Management Discussion and Analysis filed
with certain securities commissions in Canada and the Company’s
most recent filings with the United States Securities and Exchange
Commission (the “SEC”). All of the Company’s Canadian public
disclosure filings in Canada may be accessed via www.sedar.com and
filings with the SEC may be accessed via www.sec.gov and readers
are urged to review these materials, including the technical
reports filed with respect to the Company’s mineral properties.
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