Corvus Gold Drills 56.4 Metres @ 1.71 g/t Gold, 55.1 Metres @ 1.40 g/t Gold and 64.9 Metres @ 1.02 g/t Gold, Expands Discoveries at the Mother Lode Deposit, Nevada
(PresseBox) - Corvus Gold Inc. (?Corvus? or the ?Company?) - (TSX: KOR, NASDAQ: KOR- https://www.commodity-tv.com/ondemand/companies/profil/corvus-gold-inc/) announces it has received additional results from its current drill program at the Mother Lode project with a successful expansion of the new Central Intrusive Zone ?CIZ?, Upper Oxide and ?North? targets.& Table 1). Au NR20-06, May 13, 2020).
The CIZ target will be the focus of two of Corvus? three drill rigs operating in the District with the third rig directed at new discovery drilling at its Lynnda Strip, and other emerging new targets.
CIZ Discovery
The CIZ results have confirmed the direct association of gold mineralization with the north trending intrusive dike swarm as postulated earlier.
Drilling at the CIZ target continues in order to determine the development of higher-grade shoots within this new and expanding deposit, which Corvus believes may hold additional potential to develop into an underground deposit. Metallurgical testing of the CIZ has begun to better characterize its processing potential for its future addition to the Mother Lode mine plan.
Central Main Zone
Results from the Central Main Zone sulfide body continue to infill the the resource model with higher grade intercepts which are expected to improve the grade and size of the resource as well as its confidence level. or associated with explosive activity above the tops of the intrusive dikes and are a good sign of a very dynamic and large gold system (Figure 3).
Upper Oxide Zone
Additional intersection into the Upper Oxide Zone are defining a sizable body of low-grade heap leach mineralization that will be very beneficial to the mining of the deeper, higher-grade deposit at Mother Lode (lowering the strip ratio). This zone of mineralization was previously classified as overburden, thus Corvus believes that the reclassification could add additional ounces to the heap leach mineralization and potentially reduce the overall mining costs.
North Zone
In general, the deep drilling results from the North target have begun to define the northern extent of the surface minable deposit at Mother Lode. The Main zone appears to be thinning and dropping off in grade as the deposit approached the Corvus - Coeur Mining property line although Corvus is seeing silver numbers pick up to the north.
Jeffrey Pontius, President and CEO of Corvus, said, ?These new results continue to support the expansion of the Mother Lode deposit and the new CIZ target.
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.& 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? Nevada Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program.n Assay Laboratories (AAL) in Reno, Nevada, for preparation and assaying.e verification process.
Mr. Scott E. Wilson, CPG (10965), Registered Member of SME (4025107) and President of Resource Development Associates Inc., is an independent consulting geologist specializing in Mineral Reserve and Mineral Resource calculation reporting, mining project analysis and due diligence evaluations.over 29 years of experience in surface mining, mineral resource estimation and strategic mine planning. Mr. Wilson is President of Resource Development Associates Inc. and is independent of the Company under NI 43-101.
Mr. Wilson, 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.
Metallurgical testing on North Bullfrog and Mother Lode samples has been performed by McClelland Analytical Services Laboratories Inc. of Sparks Nevada (?McClelland?), McClelland is an ISO 17025 accredited facility that supplies quantitative chemical analysis in support of metallurgical, exploration and environmental testing using classic methods and modern analytical instrumentation.12. Hazen Research Inc. (?Hazen?), an independent laboratory, has performed flotation, AAO testing and cyanide leach testing on samples of sulphide mineralization from the YellowJacket zone and Swale area of Sierra Blanca, and roasting tests on Mother Lode flotation concentrate. Hazen holds analyticidation test work on Mother Lode concentrate samples was performed by Resource Development Inc. of Wheatridge, CO.
For additional details, see technical report entitled ?Technical Report and Preliminary Economic Assessment for the Integrated Mother Lode and North Bullfrog Projects, Bullfrog Mining District, Nye County, Nevada?, dated November 1, 2018 and amended on November 8, 2018, with an effective date of September 18, 2018 on the Company?s profile at www.sedar.com.
About the North Bullfrog & Mother Lode Projects, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers approximately 90.5 km2 in southern Nevada.
Effective as of September 18, 2018, the combined Mother Lode and North Bullfrog Projects contains a Measured Mineral Resource for the mill of 9.3 Mt at an average grade of 1.59 g/t gold, containing 475 k ounces of gold and Indicated Mineral Resources for the mill of 18.2 Mt at an average grade of 1.68 g/t gold containing 988 k ounces of gold and an Inferred Mineral Resource for the mill of 2.3 Mt at an average grade of 1.61 g/t gold containing 118 k ounces of gold. an average grade of 0.24 g/t gold containing 1,150 k ounces of gold and an Inferred, oxide, run of mine, heap leach Mineral Resource of 78.7 Mt at an average grade of 0.26 g/t gold containing 549 k ounces of gold.
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.
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 anticipated timing of the Preliminary Economic Assessment and updated mineral resource estimate; planned drilling and exploration; expectations regarding exploration results; interpretation of preliminary exploration results; potential increases to grade; anticipated potential future outlook of the gold market; estimates of mineralization; and updates on the development progress at the Mother Lode project; are forward-looking statements. 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, delays in or failure to execute a definitive layback agreement, 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 Annual Report on Form 10-K for the fiscal year ended May 31, 2020 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.
Cautionary Note to United States Investors
The United States Securities and Exchange Commission (?SEC?) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. Resource estimates contained in this press release are made pursuant to NI 43-101 standards in Canada and do not represent reserves under the standards of the SEC?s Industry Guide 7. Under the currently applicable SEC Industry Guide 7 standards, a ?final? or ?bankable? feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and all necessary permits and government approvals must be filed with the appropriate governmental authority. This press release uses the terms ?Measured Resources?, ?Indicated Resources?, and ?Inferred Resources?. We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with NI 43-101, such terms are not recognized under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources described in this press release have a great amount of uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant ?reserves? as in-place tonnage and grade, without reference to unit measures. ?Inferred Resources? have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that any or all part of an Inferred Resource will ever be upgraded to a higher category. U.S. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into SEC Industry Guide 7 reserves.
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Datum: 19.08.2020 - 00:49 Uhr
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