Corvus drills 19.8 m of 1.7 g/t Au at North Bullfrog
2016-01-19 09:25 ET - News Release
Mr. Jeffrey Pontius reports
CORVUS GOLD IDENTIFIES NEW HIGH-GRADE GOLD ZONE AND EXPANDS NW SIERRA BLANCA TARGET AREA, NORTH BULLFROG PROJECT, NV
Corvus Gold Inc. has provided its most recent intercepts from the newly discovered NW Sierra Blanca zone which appears to be analogues to the high-grade YellowJacket deposit located 700 metres to the west (see "Follow-up results from NW Sierra Blanca zone" table). The new high-grade intercept of 3.1 metres of five grams per tonne gold and 42.0 g/t silver within a broader 99 metres of 0.64 g/t Au and 4.1 g/t Ag is approximately 100 metres north of the initial discovery of the NW Sierra Blanca zone (NR15-15, Nov. 3, 2015). This is a high-priority target area for follow-up drilling in the 2016 drill program.
This new shallow zone of gold and silver mineralization trends to the north-northeast along the margin of the previously defined Sierra Blanca deposit and now has a direct intrusive association which the company believes increases the systems potential. To date all the of the holes drilled under the shallow pediment cover to the west of the Sierra Blanca deposit have intersected thick zones of low-grade mineralization with several intervals of over one g/t gold. The company believes these features indicate potential for a large new deposit adjacent to the existing pit design.
Jeffrey Pontius, Corvus Gold chief executive officer, states: "The continued positive results from the new NW Sierra Blanca discovery are encouraging and indicate we may be onto a new gold and silver deposit in the district. Further, this new discovery is on the margin of the currently designed pit which was subject to the preliminary economic assessment we released last June. As we advance our districtwide exploration of this new Nevada gold-silver discovery we are continually impressed with the size and quality of the system."
FOLLOW-UP RESULTS FROM NW SIERRA BLANCA ZONE
From To Length Au Ag
(m) (m) (m)* (g/t) (g/t)
NB-15-279 86.87 184.4 97.53 0.34 1.19
incl. 102.11 103.63 1.52 1.12 2.57
incl. 123.44 124.97 1.52 1.18 0.96
NB-15-280 85.34 86.87 1.52 0.44 0.20
163.07 166.12 3.05 0.18 0.17
187.45 198.12 10.67 0.15 0.05
NB-15-281 134.11 137.16 3.05 0.37 0.33
160.02 163.07 3.05 0.13 0.31
167.64 175.26 7.62 0.13 0.82
181.36 196.6 15.24 0.13 0.48
205.74 228.98 23.24 0.28 0.53
NB-15-282 64.01 163.07 99.06 0.64 4.08
including 79.25 99.06 19.81 1.69 12.33
including 88.77 83.82 3.05 4.97 42.0
167.64 202.69 35.05 0.16 0.61
(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.)
PREVIOUSLY RELEASES NW SIERRA BLANCA/RHYOLITE ZONE RESULTS
From To Length Au Ag
(m) (m) (m)* (g/t) (g/t)
NB-15-267 77.72 82.3 4.58 0.147 0.35
including 99.06 108.2 9.14 0.346 1.02
112.78 323.08 210.31 0.472 1.41
including vein/sw 173.74 184.4 10.66 3.471 3.59
including vein/sw 210.31 211.84 1.52 1.01 1.37
including vein/sw 225.55 227.08 1.52 1.09 2.76
NB-15-268 39.62 48.77 9.15 0.27 0.45
53.34 96.01 42.67 0.45 0.61
including 86.87 88.39 1.52 1.15 1.51
108.2 112.78 4.58 0.21 0.04
NB-15-269 13.72 19.81 6.09 0.64 0.77
54.86 62.48 7.62 0.37 1.1
92.96 112.78 19.82 1.28 1.8
167.64 172.21 4.57 0.23 0.5
NB-15-270 45.72 54.86 9.14 0.35 0.58
82.3 109.73 27.43 0.43 1.47
including 85.34 86.86 1.52 1.05 1.02
118.87 144.78 25.91 0.29 0.59
* Mineralized thickness calculated at 0.10 g/t Au cut-off with
internal vein/stockwork intervals calculated at 1.0 g/t Au
cut-off
New NW Sierra Blanca zone
The new NW Sierra Blanca zone is covered by a thin (less than 20 m) veneer of postmineral, gravel and volcanic rocks counselling it from earlier detection. The zone appears to be dominated by two structural zones, the north-south NW Sierra Blanca zone and the northeast-trending Rhyolite zone. The high-grade intercept in hole NB-15-282 is hosted by a highly altered dacitic dike within the Sierra Blanca tuff. The dike is interpreted to occupy a major structural conduit within the larger Sierra Blanca mineralized system. Follow-up drilling will be conducted to determine the orientation and size of the high-grade system. This new intrusion-related gold discovery and the many broad surrounding intercepts suggests good potential for the Sierra Blanca/Yellowjacket system to expand to the west and northwest under the shallow pediment cover which could significantly expand the current deposit.
About the North Bullfrog project, Nevada
Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 72 square km 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 million tonnes at an average grade of 2.55 g/t gold and 19.70 g/t silver, containing 316,500 ounces of gold and 2,445,000 ounces of silver, an indicated mineral resource of 1.81 million tonnes at an average grade of 1.53 g/t gold, and 10.20 g/t silver, containing 89,100 ounces of gold and 593,600 ounces of silver and an inferred resource of 1.48 million tonnes at an average grade of 0.83 g/t gold and 4.26 g/t silver, containing 39,500 ounces of gold and 202,700 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 break-even cut-off grade of 0.52 g/t gold. In addition, the project contains a measured mineral resource of 300,000 tonnes at an average grade of 0.25 g/t gold and 2.76 g/t silver, containing 2,400 ounces of gold and 26,600 ounces of silver, an indicated mineral resource of 22.86 million tonnes at an average grade of 0.30 g/t gold and 0.43 g/t silver, containing 220,500 ounces of gold and 316,100 ounces of silver, and an inferred mineral resource of 176.3 million tonnes at an average grade of 0.19 g/t gold and 0.67 g/t silver, containing 1,077,400 ounces of gold and 3,799,200 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 break-even 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, 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 chief executive officer and 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 National Instrument 43-101, has co-ordinated 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 chief operating officer, 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, Nev., for preparation and then on to ALS Chemex in Reno, Nev., 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, which is available under Corvus Gold's SEDAR profile.
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