KOR-T Corvus Gold Drills 170.7 Metres of 0.60 g/t Gold at YellowJacket Deposit
Corvus Gold Inc. ( TSX.V: KOR / OTCQX: CORVF) ("Corvus" or the "Company") announces the initial results from the 2016 phase II drill program at its North Bullfrog property in Nevada (Table 1). The initial two holes were targeted for expansion potential at the north end of the YellowJacket system, both at depth and laterally to the current deposit (Figure 1).
Drill hole NB16-314 intercepted the broadest gold mineralization discovered to date at the YellowJacket deposit with 170.7 metres @ 0.60 g/t gold, including new depth extensions to the West Splay Vein (6.1 metres @ 2.8 g/t gold) and the main YellowJacket Vein (10.7 metres @ 2.4 g/t gold). These new intercepts indicate that the YellowJacket and the surrounding new vein systems at Liberator and NWSB may be strengthening to the north, in the area which is the focus of the ongoing phase II resource expansion drill program.
Table 1
Drill Results YellowJacket Extension Targets
(Reported drill intercepts are not true widths. At this time, there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.) | | | | From (m) | To (m) | Length (m)* | Gold (g/t) | Silver (g/t) | | NB-16-313 | | 57.91 | 73.15 | 15.24 | 0.34 | 2.6 | | AZ 090 dip-50 | inc | 57.91 | 59.44 | 1.52 | 1.88 | 12.0 | | | | 80.77 | 99.06 | 18.29 | 0.20 | 1.0 | | | | 108.2 | 256.03 | 147.83 | 0.29 | 1.0 | | | inc | 143.26 | 144.78 | 1.52 | 5.22 | 2.9 | | | | | | | hole ended in mineralization | | | | | | | | | | NB-16-314 | | From (m) | To (m) | Length (m)* | Gold (g/t) | Silver (g/t) | | AZ 085 dip -55 | | 131.06 | 301.75 | 170.69 | 0.60 | 1.9 | | | inc | 132.59 | 138.68 | 6.09 | 2.80 | 4.7 | | | inc | 227.08 | 237.74 | 10.66 | 2.41 | 9.7 | | | inc | 252.98 | 286.51 | 33.53 | 0.86 | 1.9 | | | | * Mineralized thickness calculated @ 0.10 g/t Au cutoff with internal intervals calculated @ 1.0 g/t Au cutoff |
Jeff Pontius, President and CEO of Corvus said, "The initial results from our Phase II drilling are encouraging and strongly support our focus on the importance of the major structural intersection at the north end of the YellowJacket deposit. We believe that the broad zone of gold mineralization along with the large recently discovered rhyolite body in this area are indicators that the target may have potential. The new zones at Swale, NWSB & Liberator are all on the edge of the existing pit design where more drilling is planned in order to determine whether there is potential for an expansion of our existing deposit."
Figure 1. Drill hole locations map for 2016 phase II, North Bullfrog project. Current pit design outlined in blue:
YellowJacket Extension
The initial two holes from the 2016 Phase II program were designed to assess the expansion potential of the north end of the existing YellowJacket deposit.
Drill hole NB-16-313 was targeted at the up-dip extension of the YellowJacket vein system and to evaluate an additional zone of mineralization to the east in between the YellowJacket and Liberator systems. The hole initially intercepted mineralization about 40m vertically below the surface (15m @ 0.34 g/t Au with 1.5m @ 1.88 g/t Au) which indicates we are defining the top of the system. The broad (148m @ 0.29 g/t Au with 1.5m @ 5.2 g/t Au) lower zone of gold mineralization in this hole is encouraging in that it is defining a wider and stronger part of the system as we go north which may be merging with the new Liberator and Rhyolite zones. This may indicate that the overall system may become larger and more dynamic as Corvus approaches the major intersection of the NW trending YellowJacket-Liberator systems with the NE trending NWSB-Rhyolite systems at the current north end of the YellowJacket deposit.
Drill hole NB-16-314 was designed to test the deeper part of the YellowJacket system in the north end of the deposit. The results have shown a much broader zone of mineralization in this north end that returned 171 metres at 0.6 g/t gold which included the West Splay Vein with 6.1 metres at 2.8 g/t gold and the YellowJacket vein with 10.7 metres at 2.4 g/t gold. This broad zone of mineralization around two expanding vein zones reinforces the fact the system is becoming stronger to the north.
About the North Bullfrog Project, 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 North Bullfrog project includes numerous prospective gold targets at various stages of exploration with four having NI 43-101 mineral resources (Sierra Blanca, Jolly Jane, Mayflower and YellowJacket). The project contains a measured mineral resource of 3.86 Mt at an average grade of 2.55 g/t gold and 19.70 g/t silver, containing 316.5k ounces of gold and 2,445k ounces of silver, an indicated mineral resource of 1.81 Mt at an average grade of 1.53 g/t gold, and 10.20 g/t silver, containing 89.1k ounces of gold and 593.6k ounces of silver and an inferred resource of 1.48 Mt at an average grade of 0.83 g/t gold and 4.26 g/t silver, containing 39.5k ounces of gold and 202.7k ounces of silver for oxide mill processing. The mineral resource for the mill process was defined by Whittle™ optimization using all cost and recovery data and a breakeven cut-off grade of 0.52 g/t gold. In addition, the project contains a measured mineral resource of 0.3 Mt at an average grade of 0.25 g/t gold and 2.76 g/t silver, containing 2.4k ounces of gold and 26.6k ounces of silver, an indicated mineral resource of 22.86 Mt at an average grade of 0.30 g/t gold and 0.43 g/t silver, containing 220.5k ounces of gold and 316.1k ounces of silver and an inferred mineral resource of 176.3 Mt at an average grade of 0.19 g/t gold and 0.67 g/t silver, containing 1,077.4k ounces of gold and 3,799.2k ounces of silver for oxide, heap leach processing. The mineral resource for heap leach processing was defined by Whittle™ optimization using all cost and recovery data and a breakeven cut-off grade of 0.15 g/t.
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 North Bullfrog 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 ALS Chemex in Reno, Nevada, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assaying. ALS Chemex'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 ALS Chemex and an ISO compliant third party laboratory for additional quality control.
For additional information on the North Bullfrog project, including information relating to exploration, data verification and the mineral resource estimates, see "Technical Report and Preliminary Economic Assessment for Combined Mill and Heap Leach Processing at the North Bullfrog Project, Bullfrog Mining District, NYE County, Nevada" dated June 16, 2015 as amended and restated May 18, 2016 which is available under Corvus' SEDAR profile at www.sedar.com.
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 North Bullfrog, 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 those discoveries to maximize share price leverage in a recovering gold and silver market.
Source: Corvus Gold |
