NB-13-347 – 85 metres @ 1.6 g/t Gold (including 13.8 metres of 7.2g/t Gold)
NB-13-230 – 172 metres @ 0.45 g/t Gold (including 26 metres of 1.2g/t Gold)
Vancouver, B.C……..Corvus Gold Inc. (“Corvus” or the “Company”) – (TSX: KOR, OTCQX: CORVF) announces assay results from two core holes and three reverse circulation (RC) holes in the Yellowjacket Zone at the North Bullfrog Project, Nevada. The drill results from the Yellowjacket Zone have identified new high-grade gold vein systems and expand near-surface mineralization along trend to the North increasing the projects “starter pit” potential.
Complete assay results from core drill hole NB-13-347 (partially announced NR13-17, August 6, 2013) was 84.8 metres of 1.6 g/t gold and 10.1 g/t silver including the previously reported intercept of 7.2 g/t gold and 21.0 g/t silver over 13.8 metres (Figure 1). Drill hole NB-13-347 represents a 260 metre step out to the north of the original discovery hole NB-12-138. Significantly, hole NB-13-347 intersected a new high-grade vein system where drilling to date has now outlined four distinct vein systems within the overall 100-150 metre wide, north, northwest trending Yellowjacket Zone.
In addition, core hole NB-13-348, drilled on the same section as NB-13-347, returned an intercept of 61.3 metres of 0.7 g/t gold (Figure 1). Core holes NB-13-353 and NB-13-354, located 360 metres north of the discovery hole NB-12-138, both encountered broad zones of veining with similar characteristics as hole NB-13-347 (assays are pending).
RC hole NB-13-230, which represents a 500 metre step out to the north from the 2012 discovery hole returned 172.2 metres of 0.45 g/t gold including25.9m of 1.2 g/t gold. Significantly some intervals returned high silver to gold ratios indicating that the hole crossed Yellowjacket-style vein mineralization (Figure 1, Table 1). The gold mineralization at the bottom of the hole and represents a significant increase in the grade of the alteration style mineralization and has been followed up with core hole NB-13-350.
Assay results from NB-13-347 and NB-13-230 along with core from holes NB-13-353 and 354 appear to have intersected an entirely new vein system of gold mineralization. The new vein system appears to be trending north-westerly from the Yellowjacket Zone towards North Sierra Blanca and could be indicating a broadening of the high-grade zone to the North (Figure 1). This new high-grade gold system remains open to the north, south and at depth and lies west of the other three distinct vein systems.
Drill road construction and RC grid drilling has recently intersected other vein systems to the west of Yellowjacket opening up more potential for expanding the high-grade feeder system under the existing Sierra Blanca deposit.
RC holes NB-13-225 and 229 are vertical holes that were drilled in the horst block between an east-dipping fault and a west-dipping vein system. Neither hole encountered vein mineralization but both holes encountered very broad zones of the disseminated, low-grade mineralization that surrounds the high-grade vein systems (Figure 1, Table 1).
Jeff Pontius, Chief Executive Officer, states: “The continued encouraging results from the Yellowjacket Zone are now defining a large and expanding zone of shallow, much higher grade, open pit, heap leach material for the initial phase of mining at North Bullfrog. In addition the discovery of additional high-grade veins over a broad area highlights the potential for the high-grade system to grow in scale to that of the +2 million ounce Bullfrog Mine located to the south of the project. These ongoing results are outlining what could be a major new Nevada high-grade gold discovery that could greatly enhance Corvus shareholder value.”
Figure 1: Location of Yellowjacket drill holes. Red collars and traces indicate holes reported in this press release. Blue indicates assays are pending. Significant mineralized faults are shown in dark red. For a more general location of Yellowjacket see Figure 2.
Table 1: Significant intercepts* from recent core holes at Yellowjacket.
|HoleID||From (m)||To (m)||Interval (m)||Gold (g/t)||Silver (g/t)||Comments|
|including||182.9||208.8||25.9||1.17||1.38||Ended in mineralization|
|NB-13-347||52.6||137.4||84.8||1.60||10.08||Azimuth 90; dip 80|
|NB-13-348||99.2||160.5||61.3||0.72||3.90||Azimuth 90; dip 40|
*Intercepts calculated with 0.1g/t cutoff and up to 1.7m internal waste for Core and 3m for RC.
About the North Bullfrog Project, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers approximately 70 km² in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick Gold Corporation. The property package is made up of a number of leased patented federal mining claims and 758 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor. The Company’s independent consultants completed a robust positive Preliminary Economic Assessment on the existing resource in June 2013.
The project currently includes numerous prospective gold targets with four (Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an estimated oxidized Indicated Resource of 36.7 Mt at an average grade of 0.26 g/t gold for 308,000 ounces of gold and an oxidized Inferred Resource of 220.4 Mt at 0.18 g/t gold for 1,289,000 ounces of gold (both at a 0.1 g/t gold cutoff), with appreciable silver credits. Unoxidized Inferred mineral resources are 221.6 Mt at 0.19 g/t for 1,361,000 ounces of gold (at a 0.1 g/t gold cutoff).
Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted by structural zones with breccias and quartz-sulphide vein stockworks such as the Mayflower and Yellowjacket targets. The Company is actively pursuing both types of mineralization.
A video of the North Bullfrog project showing location, infrastructure access and 2010 winter drilling is available on the Company’s website athttp://www.corvusgold.com/
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 (other than the resource estimate) that form the basis for this news release and has approved the disclosure herein. Mr. Pontius is not independent of Corvus, as he is the CEO and holds common shares and incentive stock options.
Mr. Gary Giroux, M.Sc., P. Eng (B.C.), a consulting geological engineer employed by Giroux Consultants Ltd., has acted as the Qualified Person, as defined in NI 43-101, for the Giroux Consultants Ltd. mineral resource estimate. He has over 30 years of experience in all stages of mineral exploration, development and production. Mr. Giroux specializes in computer applications in ore reserve estimation, and has consulted both nationally and internationally in this field. He has authored many papers on geostatistics and ore reserve estimation and has practiced as a Geological Engineer since 1970 and provided geostatistical services to the industry since 1976. Both Mr. Giroux and Giroux Consultants Ltd. are independent of the Company under NI 43-101.
The work program at North Bullfrog was designed and supervised by Russell Myers (CPG 11433), President of Corvus, and Mark Reischman, Corvus Nevada Exploration Manager, who are 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. McClelland Laboratories Inc. prepared composites from duplicated RC sample splits collected during drilling. Bulk samples were sealed on site and delivered to McClelland Laboratories Inc. by ALS Chemex or Corvus personnel. All metallurgical testing reported here was conducted or managed by McClelland Laboratories Inc.
About Corvus Gold Inc.
Corvus Gold Inc. is a resource exploration company, focused in Nevada, Alaska and Quebec, which controls a number of exploration projects representing a spectrum of early-stage to advanced gold projects. Corvus is focused on advancing its 100% owned Nevada, North Bullfrog project towards a potential development decision and continuing to explore for new major gold discoveries. Corvus is committed to building shareholder value through new discoveries and leveraging noncore assets via partner funded exploration work into carried and or royalty interests that provide shareholders with exposure to gold production.
On behalf of
Corvus Gold Inc.
(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
Chairman and Chief Executive Officer