Mr. Jeff Pontius reports
CORVUS GOLD DRILLS 33 METRES @ 4.14 G/T GOLD AT YELLOWJACKET HIGH-GRADE DEPOSIT, NORTH BULLFROG PROJECT, NEVADA; INTERSECTS NEW HIGH-GRADE GOLD SYSTEM AT AIR TRACK HILL 1,000 METRES SW
OF YELLOWJACKET
Corvus Gold Inc. has released initial assay results
from three core holes along the northern extension of the Yellowjacket
deposit, and two core holes from the western extension of the Sierra
Blanca deposit, at the North Bullfrog project, Nevada. Drill hole
NB-13-368 at the Yellowjacket deposit returned 33.3 metres at 4.14 grams per tonne
gold and is 140 metres along strike from the previously reported intersection
(NB-13-360, 9.6 metres at 6.34 grams per tonne gold -- see news release on Dec. 5, 2013).
Corvus has now reported results from within the high-grade Yellowjacket
deposit at approximately 50-metre spaced drill fences over a current
strike length of approximately 600 metres, within a structural zone
ranging from 100 to 150 metres in width and to a nominal depth of about
150 metres. The system remains open in all directions and indications
from RC grid drilling to the west and northeast suggest additional vein
zones may be present in those areas.
Corvus is awaiting assays from another 26 drill holes which are a mix of
core and RC drilling testing the strike extension of the Yellowjacket
deposit and two newly discovered vein systems between Yellowjacket and
Air Track Hill. Significantly, gold-tellurium
mineralization, typically associated with bonanza-grade gold systems,
has now been discovered at Air Track Hill, located over a kilometre to
the southwest of the Yellowjacket deposit and at the southwestern edge
of the limit of the existing Sierra Blanca drilling. This
newly discovered mineralization will be one of the focuses of the
pending 2014 drilling program scheduled to begin at the end of January,
2014.
Yellowjacket drilling
In drill hole NB-13-361, located 50 metres up dip from NB-13-360, the
main vein thinned as it approached the surface. However, the stockwork
around the vein returned 22.3 metres at 0.82 gram per tonne gold. The vein interval in drill hole NB-13-367, located 70 metres along
strike from NB-13-361, is hosted by dacite which is generally a poor
vein host and has limited vein width development. However, the vein
and stockwork combined returned an intercept of 17.2 metres at 1.15 grams per tonne
gold at relatively shallow depths. NB-13-368
encountered a two-metre-wide vein with 27 grams per tonne gold and good stockwork. The intercept in NB-13-368 is 600 metres along strike from
the original discovery hole NB-12-138.
A number of holes which have cut the veins still have assays pending,
including NB-13-369, 370 and 372. Gold and silver continue to occur in
these intersections as very fine grains of electrum, native gold and
acanthite, a leachable silver sulphide.
Jeff Pontius, chief executive officer, stated: "The remarkable
consistency and expansion potential of the mineralization in the
Yellowjacket deposit is encouraging for outlining a major new
high-grade gold discovery here in Nevada. In addition, the discovery
of a new broad higher-grade oxide gold-tellurium zone at Air Track Hill
represents a completely new style of gold mineralization that bodes
well for developing other new Yellowjacket-type high-grade zones. With
the results of each new hole returned from North Bullfrog, our
assessment of the potential of this new Nevada gold district grows."
SIGNIFICANT INTERCEPTS* FROM RECENT CORE HOLES AT YELLOWJACKET
From To Interval Gold Silver
Hole ID (m) (m) (m) (g/t) (g/t) Comments
25.3 30.5 5.2 0.15 0.65 Disseminated
30.5 47.8 17.4 0.92 3.65 HW stockwork
NB-13-361 47.8 49.2 1.4 0.78 Pending Main vein
49.2 52.8 3.5 0.34 0.96 FW stockwork
Incl 22.3 0.82 Pending Vein and main stockwork
52.8 90.8 38.1 0.16 0.70 FW peripheral stockwork
97.3 105.4 8.1 1.28 3.16 HW stockwork in dacite
NB-13-367 105.4 107.9 2.5 1.06 13.19 Main vein
107.9 114.5 6.6 1.02 2.48 FW stockwork in dacite
Incl 17.2 1.15 4.37 Vein and main stockwork
114.5 144.4 29.9 0.15 1.2 Disseminated
144.4 185.9 41.5 0.40 1.53 Illite-pyrite stockwork
109.3 122.1 12.7 5.99 Pending HW stockwork
NB-13-368 122.1 124.1 2.0 26.97 Pending Main vein
124.1 142.6 18.5 0.35 Pending FW stockwork
Incl 33.3 4.14 Pending Vein and main stockwork
142.6 194.1 51.5 0.30 1.45 FW peripheral stockwork
194.1 245.4 51.3 0.15 0.6 Disseminated
* Intercepts calculated using a 0.1-gram-per-tonne-gold cut-off and up to one metre of
internal waste. Reported drill intercepts are not true widths. At this time, there are
insufficient data with respect to the shape of the mineralization to calculate its true
orientation in space.
New mineralization style found at Air Track Hill and new structure found
at Sierra Blanca West
At Air Track Hill, located on the southwestern edge of the Sierra Blanca
deposit, a new type of higher-grade gold-tellurium mineralization has
been discovered in hole NB-13-364. This type of
mineralization is frequently associated with high-grade gold systems
around the world, with the most famous being the Cripple Creek district
in Colorado. Hole NB-13-364 revealed a shallow mineralized zone with 23
metres at one gram per tonne gold from 17 metres depth, including four metres of 2.2 grams per tonne
gold. The silver to gold ratio of the mineralization is 1:10,
which is exactly the opposite of the 10:1 ratio in the Yellowjacket
quartz veins and much lower than the normal 1:1 ratio in the
disseminated mineralization. The mineralization is
hosted in a strongly altered pyroclastic unit with associated
iron-oxide breccia veinlets. The average tellurium content of the zone
is five parts per million, with a high value of 36 parts per million. Initial structural data
suggest that the mineralization has a northeasterly strike similar to
the newly discovered vein-type mineralization within the main Sierra
Blanca deposit. Hole NB-13-365 was drilled to confirm the orientation
of the mineralized zone (assays pending).
Core drilling on the northwestern edge of the Sierra Blanca deposit has
also revealed a potentially new high-grade structural zone, thereby
opening up potential mineralization to the west under an extensive area
of shallow pediment cover. This new zone is hosted in a dacite unit,
which typically has been barren but this intersection and the one in
hole NB-13-361 in the Yellowjacket deposit 700 metres to the east are
changing that assumption. Core hole NB-13-366 returned an intercept of
47 metres at 0.9 gram per tonne gold and one gram per tonne silver from 41 metres depth.
SIGNIFICANT INTERCEPTS* FROM RECENT CORE HOLES AT AIR TRACK
HILL AND WEST SIERRA BLANCA
From To Interval Gold Silver
Hole ID (m) (m) (m) (g/t) (g/t) Comments
NB-13-364 17.1 40.0 22.9 1.04 0.1
Including 28.3 32.6 4.3 2.21 0.2 Tellurium and mercury related
Including 35.9 37.7 1.8 2.64 0.2
NB-13-366 10.4 13.9 3.5 0.94 0.4
41.5 88.8 47.4 0.93 1.3 Disseminated in altered dacite
Including 46.7 66.9 20.2 1.03 1.4
Including 71.4 88.8 17.5 1.26 1.8
About the North Bullfrog project, Nevada
Corvus controls 100 per cent of its North Bullfrog project, which covers
approximately 68 square kilometres in southern Nevada just north of the historic
Bullfrog gold mine formerly operated by Barrick Gold. 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.
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 form 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 holds common shares and
incentive stock options.
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 employees 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 or Vancouver 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.
We seek Safe Harbor.
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