Assay Highlights of Western and Northern
Extension 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 an
additional eight drill holes from its 2017 Phase I drill program at
its Mother Lode project in southern Nevada (Table 1). The latest
results continue to delineate the extension of the Mother Lode
deposit to the west (ML-17-028 with 70.1 m @ 1.41 g/t gold at a 0.1
g/t cutoff), and there appears to be early indications of a new
deep zone below the historic pit zone. Additionally, a new
drill fence 50 metres to the north of the northern-most drilling
has shown that the system continues to expand to the
north-northwest of historic hole ML-338 (73.2 m @ 2.05 g/t
gold). It is believed that these results continue to grow the
Mother Lode deposit, which is open to the north, west, east and at
depth (Figure 1).
Western Extension and New Deep In-pit
Zone
Assay results from holes ML-17-026 to ML-17-028,
ML-17-030 and ML-17-032 provide further information for Resource
estimation work while extending mineralization to the west and at
depth in the historic open pit area of the deposit, with ML-17-28
returning 51.8 m @ 1.86 g/t gold. Importantly, the new deeper
holes drilled have intersected a new deep zone of moderate grade
mineralization (“Deep In-Pit Zone”) that is open at depth and could
be extensive throughout the deposit to the north and at depth
(ML-17-026 with 24.4 m @ 0.93 g/t gold, ML-17-32 with 12.2 m @ 0.81
g/t gold & ML-17-30 with 12.2 m @ 0.81 g/t gold).
North Expansion
Assay results from two holes drilled to the
north of the prior northern-most fence of holes, which included
ML-17-003 with 66.3 m @ 1.24 g/t gold, reported NR-17-19, Dec. 12,
2017, ML-17-017 with 35.1 m @ 1.97 g/t gold reported NR-18-01, Jan.
10, 2018 and historic hole ML-338 with 73.2 m @ 2.05 g/t gold,
returned 33.5 m @ 1.60 g/t gold in ML-17-31 and 12.2 m @ 2.31 g/t
gold in ML-17-33. Corvus believes that these results are a strong
indication that the deposit remains open to the north and north
northwest. Drilling will continue to step out to the north
and determine the extent of this relatively flat-lying high-grade
zone, which is currently open for expansion.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/46271378-0de7-4e9c-b258-6f8710d5c551
Jeff Pontius, President and CEO of Corvus
states, “The continued growth on all fronts of this new Nevada gold
discovery is encouraging, and adds confidence and size to the
deposit with every hole. The growth potential to the north is
particularly intriguing, as the mineralization has flattened with
no sign of weakening. In addition, as we get into the heart
of the system, the new Deep In-Pit Zone looks to have potential to
grow in size and grade to the north. The results for the
Mother Lode exploration have exceeded our initial expectations and
we believe they bode well for our maiden resource estimate that is
planned for the middle of this year.”
Table
1Phase 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 |
ML-17-026 |
126.49 |
172.21 |
45.72 |
1.33 |
1.73 |
West of hole ML17-014 |
inc |
126.49 |
129.54 |
3.05 |
1.47 |
2.01 |
>1g/t cut |
inc |
144.78 |
169.16 |
24.38 |
1.72 |
2.03 |
>1g/t cut |
AZ 090 dip-65 |
178.31 |
185.93 |
7.62 |
0.57 |
2.44 |
|
|
242.32 |
266.70 |
24.38 |
0.93 |
2.28 |
New deep in-pit zone |
inc |
249.94 |
256.03 |
6.09 |
1.75 |
2.86 |
>1g/t cut |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-027 |
124.97 |
156.97 |
32.00 |
0.49 |
1.02 |
West of hole ML17-008 |
inc |
150.88 |
153.92 |
3.05 |
1.03 |
1.62 |
>1g/t cut |
AZ 090 dip-65 |
172.21 |
176.78 |
4.57 |
0.78 |
0.94 |
|
|
181.36 |
213.36 |
32.00 |
0.63 |
1.28 |
|
inc |
188.98 |
192.02 |
3.05 |
1.33 |
3.52 |
>1g/t cut |
|
233.17 |
251.46 |
18.29 |
0.44 |
0.88 |
New deep in-pit zone |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-028 |
73.15 |
124.97 |
51.82 |
1.86 |
0.88 |
East of hole ML17-016 |
inc |
83.82 |
103.63 |
19.81 |
3.43 |
1.28 |
>1g/t cut |
inc |
115.82 |
121.92 |
6.10 |
2.37 |
2.60 |
>1g/t cut |
AZ 090 dip-65 |
167.64 |
172.21 |
4.57 |
0.74 |
2.10 |
New deep in-pit zone |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-029 |
103.63 |
112.78 |
9.15 |
0.43 |
0.19 |
West of hole ML17-010 |
AZ 090 dip-85 |
117.35 |
123.44 |
6.09 |
0.73 |
1.59 |
|
|
161.54 |
179.83 |
18.29 |
1.84 |
1.46 |
|
|
193.55 |
196.60 |
3.05 |
0.46 |
1.56 |
|
|
204.22 |
240.79 |
36.57 |
1.85 |
3.15 |
|
inc |
211.84 |
237.74 |
25.90 |
2.37 |
3.75 |
>1g/t cut |
|
277.37 |
286.51 |
9.14 |
1.17 |
2.41 |
|
inc |
278.89 |
284.99 |
6.10 |
1.56 |
2.39 |
>1g/t cut |
|
320.04 |
338.33 |
18.29 |
0.90 |
3.47 |
|
inc |
321.56 |
326.14 |
4.57 |
2.55 |
6.59 |
>1g/t cut |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-030 |
59.44 |
62.48 |
3.04 |
0.93 |
0.58 |
West of hole ML17-023 |
AZ 090 dip-65 |
100.58 |
105.16 |
4.57 |
0.67 |
0.12 |
|
|
112.78 |
117.35 |
4.57 |
0.89 |
0.06 |
|
|
144.78 |
155.45 |
10.67 |
0.97 |
0.99 |
|
|
161.54 |
164.59 |
3.05 |
0.35 |
1.55 |
|
|
169.16 |
172.21 |
3.05 |
0.37 |
0.43 |
|
|
176.78 |
179.83 |
3.05 |
0.35 |
0.53 |
|
|
185.93 |
198.12 |
12.19 |
0.80 |
0.55 |
New deep in-pit zone |
inc |
190.50 |
193.55 |
3.05 |
1.58 |
1.01 |
>1g/t cut |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-031AZ 090 dip-70 |
313.94 |
347.47 |
33.53 |
1.60 |
3.13 |
NW of hole ML17-003 |
inc |
313.94 |
332.23 |
18.29 |
2.47 |
4.12 |
>1g/t cut |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-032 |
137.16 |
172.21 |
35.05 |
0.93 |
1.22 |
West of hole ML17-016 |
inc |
161.54 |
172.21 |
10.67 |
1.78 |
1.24 |
>1g/t cut |
AZ 360 dip-90 |
181.36 |
195.07 |
13.71 |
1.24 |
1.36 |
|
inc |
187.45 |
193.55 |
6.10 |
2.02 |
2.58 |
>1g/t cut |
|
199.64 |
213.36 |
13.72 |
0.86 |
2.45 |
New deep in-pit zone |
|
231.65 |
243.84 |
12.19 |
0.81 |
0.63 |
New deep in-pit zone |
Drill Hole # |
from (m) |
to (m) |
Interval(m) |
Gold(g/t) |
Silver(g/t) |
Comment |
ML-17-033AZ 090 dip-70 |
294.13 |
306.32 |
12.19 |
2.31 |
2.05 |
North of hole ML17-003 |
inc |
294.13 |
301.75 |
7.62 |
3.39 |
2.58 |
>1g/t cut |
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 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 prospects of the Company’s maiden resource
estimate at the Mother Lode project, 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.
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