Assay Highlights of West, East and Deep
Extensions include:Highlighted Mineralized intervals are
calculated using a 0.3 g/t cutoff,
Corvus Gold Inc. (“Corvus” or the “Company”) - (TSX: KOR) (OTCQX:
CORVF) announces it has received assay results from the final eight
drill holes from its 2017 Phase I drill program at its Mother Lode
project in southern Nevada (Table 1). Results from the first drill
hole to specifically target to the east of the deposit (ML17-42
with 28.95 m @ 2.02 g/t gold) has opened up an area which has not
been directly drilled by Corvus, and has only seen shallow drilling
from past historic exploration programs in the 1980’s. In
addition, initial drill holes designed to extend the depth
potential have returned encouraging results (ML17-36 with 44.19
metres @ 1.33 g/t gold beginning at 280.4 metres down hole).
Corvus initiated its Phase II 10,000 metre drill
program on January 9th to explore the areas of mineralization that
remain open to the North, East, and West and at Depth.
Western Extension Hole ML17-039
demonstrates the continued western extension in the core area of
the currently known deposit. The thick, high-grade interval
in this drill hole (70.1 m @ 1.45 g/t Au) is encouraging, and the
mineralization is open to the west. Previously only one historic
drill hole had entered and ended in this zone, with the bottom 6.1
m @ 3.3 g/t gold. Corvus is currently drilling a north-south
fence about 100 metres west of hole ML17-039 and down to west of
hole ML17-036 which could lead to an expansion of the deposit to
the west.
Eastern Extension Two holes
(ML17-041 & 042) were drilled to test the potential eastern
extension of mineralization, where the key host-rock package
thickens in an area with only shallow past exploration. This
eastern target area has a limited number of drill holes, but is
highlighted by intercepts such as ML17-042 with 29 m @ 2.02 g/t
gold, ML17-037 with 12.2 m @ 2.69 g/t gold, ML17-011 with 10.7 m
@1.78 g/t gold & 7.6 m @ 2.05 g/t gold and ML17-010 with 12.2 m
@ 2.88 g/t gold. Corvus believes the results demonstrate that the
system continues to the East and warrants follow-up
drilling.
Depth Extension of the Mother Lode
SystemHole ML17-036 drilled west of the central historic
pit area has intercepted strong gold mineralization in the new
west-dipping deep in-pit zone across the Fluorspar Canyon Fault
zone in lower plate carbonates (44.2 m @ 1.33 g/t gold).
Corvus believes this zone of high-grade mineralization is
encouraging for expanding the mineralization zones of the Mother
Lode deposit west along the Fluorspar Canyon Fault toward the
Jasperoid Flatiron target nearly a km away.
Jeff Pontius, President and CEO of Corvus states
“The results from Corvus Gold’s Phase I Mother Lode drilling have
now outlined an expansive new sediment hosted gold discovery in
Nevada. The thick, shallow-dipping near-surface high-grade
bodies are continuing to grow. We believe this bodes well for
the continued growth of Corvus Gold over the next several phases of
deposit expansion drilling programs in 2018.”
Table 1 |
Phase I - Mother Lode Significant Drilling
Results – In-Pit Expansion & 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 |
ML17-034 |
100.58 |
123.44 |
22.86 |
1.18 |
3.27 |
Drilled SW of Pit |
New Upper Ox Zone |
|
134.11 |
150.88 |
16.77 |
0.50 |
7.28 |
|
AZ 360 dip-90 |
254.51 |
257.56 |
3.05 |
0.39 |
0.44 |
|
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-036 |
143.26 |
152.40 |
9.14 |
0.76 |
n/a |
West of ML17-027 |
New Upper Ox Zone |
inc |
147.83 |
150.88 |
3.05 |
1.45 |
2.31 |
>1 g/t |
AZ 090 dip-85 |
158.50 |
164.59 |
6.09 |
0.97 |
1.69 |
New Upper Ox Zone |
|
230.12 |
236.22 |
6.10 |
0.60 |
2.50 |
|
|
257.56 |
265.18 |
7.62 |
0.71 |
0.48 |
|
|
280.42 |
324.61 |
44.19 |
1.33 |
1.40 |
New Deep In-Pit Zone |
inc |
280.42 |
284.99 |
4.57 |
2.16 |
1.10 |
>1 g/t |
inc |
295.66 |
313.94 |
18.28 |
2.10 |
2.50 |
>1 g/t |
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-037 |
188.98 |
211.84 |
22.86 |
0.77 |
0.52 |
East of ML17-13 |
inc |
196.60 |
199.64 |
3.05 |
1.03 |
0.51 |
>1g/t cut |
inc |
205.74 |
208.79 |
3.05 |
1.21 |
0.56 |
>1g/t cut |
AZ 090 dip-70 |
246.89 |
259.08 |
12.19 |
2.69 |
2.64 |
New East Zone |
inc |
248.41 |
257.56 |
9.15 |
3.31 |
3.03 |
>1g/t cut |
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-038 |
132.59 |
185.93 |
53.34 |
1.57 |
1.96 |
West of ML17-018 |
inc |
132.59 |
144.78 |
12.19 |
2.29 |
2.29 |
>1g/t cut |
inc |
149.35 |
179.83 |
30.48 |
1.61 |
1.85 |
>1g/t cut |
AZ 090 dip-85 |
281.94 |
304.80 |
22.86 |
0.49 |
0.37 |
|
|
309.37 |
321.56 |
12.19 |
0.87 |
3.29 |
New Deep In-Pit Zone |
inc |
315.47 |
320.04 |
4.57 |
1.22 |
5.66 |
>1g/t cut |
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-039 |
100.58 |
105.16 |
4.57 |
0.46 |
0.15 |
West of ML17-021 |
New Upper Ox Zone |
AZ 090 dip-85 |
112.78 |
124.97 |
12.19 |
0.56 |
0.40 |
New Upper Ox Zone |
|
182.88 |
252.98 |
70.10 |
1.45 |
1.98 |
West Ext - Main Zone |
inc |
192.02 |
246.89 |
54.87 |
1.72 |
2.18 |
>1g/t cut |
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-040 |
106.68 |
109.73 |
3.05 |
0.36 |
n/a |
West of ML17-020 |
New Upper Ox Zone |
AZ 090 dip-85 |
124.97 |
128.02 |
3.05 |
0.36 |
n/a |
New Upper Ox Zone |
|
140.21 |
152.40 |
12.19 |
0.49 |
n/a |
New Upper Ox Zone |
|
185.93 |
216.41 |
30.48 |
1.80 |
n/a |
West Ext – Main Zone |
inc |
185.93 |
213.36 |
27.43 |
1.91 |
n/a |
>1g/t cut |
|
|
|
|
|
|
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-041 |
89.92 |
115.82 |
25.90 |
0.77 |
0.38 |
East of ML17-001 |
inc |
96.01 |
99.06 |
3.05 |
2.65 |
1.06 |
>1g/t cut |
AZ 090 dip-65 |
150.88 |
166.12 |
15.24 |
0.89 |
1.99 |
New East Zone |
inc |
150.88 |
160.02 |
9.14 |
1.28 |
2.63 |
>1g/t cut |
|
|
Drill Hole # |
from (m) |
to (m) |
Interval (m) |
Gold (g/t) |
Silver (g/t) |
Comment |
ML17-042 |
24.38 |
32.00 |
7.62 |
0.31 |
0.33 |
East of ML17-011 |
|
150.88 |
179.83 |
28.95 |
2.02 |
1.86 |
New East Zone |
inc |
150.88 |
172.21 |
21.33 |
2.62 |
2.43 |
>1g/t cut |
AZ 090 dip-70 |
239.27 |
245.36 |
6.09 |
0.43 |
5.46 |
Lower Ox 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
Ko |
|
Investor Relations |
|
Email: info@corvusgold.com |
|
Phone: 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 Company’s belief that the parameters used in the WhittleTM pit
optimization process are realistic and reasonable, 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 statement that the zone of high-grade
mineralization is encouraging for expanding the mineralization
zones of the Mother Lode deposit west along the Fluorspar Canyon
Fault, the statement that drilling results bodes well for the
continued growth of Corvus Gold over the next several phases of
deposit expansion drilling programs in 2018, the growth potential
of the Mother Lode project and 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.
A photo accompanying this announcement is
available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/f302e104-4e41-4ed6-8715-c389cea6f060
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