Corvus Gold Expands High-Grade Vein Deposit at its Terra Project, Alaska 3.4 metres @ 11.6 g/t Gold and 106.5 g/t Silver

Corvus Gold Inc. announces results from the 2011 resource expansion drilling program on its Terra project in the McGrath Mining District of Western Alaska.  The four hole, 2011 drill program has been successful in expanding the high-grade “Ben Vein” system an additional 200 meters to the north significantly expanding the potential size of the deposit (Table 1).  In addition other vein zones outside the resource area were intersected in the drilling which further increases the potential of the overall system.  The project currently has a NI 43-101 inferred resource of 428,000 tonnes at an average grade of 12.2 g/t gold and 23.1 g/t silver for a total of 168,000 ounces gold and 318,000 ounces silver.    In 2012, WestMountain has reported that they intends follow-up this year’s drilling success with further resource expansion drilling and initiate bulk sampling gold production with the pilot plant scale mill constructed at the site in 2011.   WestMountain has expressed that their ultimate objective at Terra is to bring the deposit into year-round production as soon as possible.

Terra Project Summer 2011 Drill Results
(Intervals calculated using a 1 g/t gold cutoff grade, Including uses a 5 g/t gold cutoff grade)

Drill Hole
From
To
Interval
Au
Ag
Vein Zone
WGC-33-11
35.29
35.44
0.15
31.80
15.20
HW -3
76.69
77.19
0.50
5.73
3.30
HW -2
Including
76.69
76.89
0.20
12.05
6.30
HW-2
104.84
105.97
1.13
2.23
4.09
HW-1
139.06
139.90
0.84
7.42
69.39
Ben Vein- 100m step out
Including
139.59
139.90
0.31
15.60
138.00
Ben Vein
WGC-11-34
21.30
21.60
0.30
8.01
68.5
HW-3  lost hole at 67m
WGC-34B-11
111.04
111.40
0.36
35.70
174.00
HW – 2
115.40
117.95
2.55
6.12
28.75
HW – 1
120.00
125.60
5.60
8.15
69.69
Ben Vein – 100m step out
Including
121.60
125.00
3.40
11.6
106.5
Ben Vein
WGC-35-11
114.00
114.53
0.53
25.60
4.90
Ben Vein – 200m step out

* 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.

 

The four holes completed in the 2011 program were on two 100 metre, step-outs to assess the expansion potential of the Ben Vein system to the north (Figure 1).  The results have confirmed the extension of the system at similar grades to the existing resource to the south and offer encouragement for an expansion of the current resource base.  In addition, the drilling intersected additional vein systems in the hangingwall of the main Ben Vein (only vein modeled in the current resource) which have returned encouraging gold and silver values and will be followed up in future work.

Jeff Pontius, Corvus Gold’s CEO states “The expansion of the Ben Vein system confirms our belief that the Terra gold system has significant potential to host a major high-grade gold – silver deposit.  We are looking forward to seeing the first gold production from this significant new Alaskan gold discovery beginning next year and the financial strength that will add to our Company.”

See the entire release here