Intersects New High-Grade Gold System at Air Track Hill 1,000 metres SW
of Yellowjacket
TSX: KOR OTCQX: CORVF
VANCOUVER, Jan. 9, 2014 /CNW/ - Corvus Gold Inc. ("Corvus" or the
"Company") - (TSX: KOR, OTCQX: CORVF) announces 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 @ 4.14 g/t
goldand is 140 metres along strike from the previously reported intersection
(NB-13-360, 9.6 metres @ 6.34 g/t gold - NR13-32, December 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 100-150 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 (Figure 1). 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 @ 0.82 g/t gold (Table 1, Figure
1). 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 @ 1.15 g/t
gold at relatively shallow depths (Table 1, Figure 1). NB-13-368
encountered a 2 metre wide vein with 27 g/t gold and good stockwork
(Table 1). The intercept in NB-13-368 is 600 metres along strike from
the original discovery hole NB-12-138 (Figure 1).
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 sulfide.
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."
Table 1: Significant intercepts* from recent core holes at Yellowjacket.
(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.)
Hole ID and Orientation | From (m) | To (m) | Interval (m) | Gold (g/t) | Silver (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 |
Az 25
|
49.2
|
52.8
|
3.5
|
0.34
|
0.96
|
FW Stockwork
|
Incl -45
|
|
| 22.3 | 0.82 | Pending | Vein + 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 |
Az 90
|
107.9
|
114.5
|
6.6
|
1.02
|
2.48
|
FW Stockwork in dacite
|
Incl -42
|
|
| 17.2 | 1.15 | 4.37 | Vein + 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 |
Az 60
|
124.1
|
142.6
|
18.5
|
0.35
|
Pending
|
FW Stockwork
|
Incl -45
|
|
| 33.3 | 4.14 | Pending | Vein + 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 0.1g/t gold cutoff and up to 1 metre of
internal waste.
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 (Figure 1, Table 1). 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 @ 1 g/t gold from 17 metres depth, including 4 metres of 2.2 g/t
gold (Table 2). 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 (Tables 1 and 2). The mineralization is
hosted in a strongly altered pyroclastic unit with associated
iron-oxide breccia veinlets. The average tellurium content of the zone
is 5 ppm, with a high value of 36 ppm. Initial structural data
suggests that the mineralization has a north-easterly 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 @ 0.9 g/t gold and 1 g/t silver from 41 metres depth (Table
2).
Table 2: Significant intercepts* from recent core holes at Air Track
Hill and West Sierra Blanca.
(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.)
Hole ID | From (m) | To (m) | Interval (m) | Gold (g/t) | Silver (g/t) | Comments |
NB-13-364
|
17.1
|
40.0
|
22.9
|
1.04
|
0.1
|
Az 90 Incl -45
|
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
|
Az 15 Incl -46
|
|
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 |
|
*Intercepts calculated using a 0.1g/t gold cutoff and up to 1 metre of
internal waste.
About the North Bullfrog Project, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers
approximately 68 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.
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 CEO 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 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.
About Corvus Gold Inc.
Corvus Gold Inc. is a resource exploration company, focused in Nevada
and Alaska, which controls a number of exploration projects
representing a spectrum of early-stage to advanced gold projects.
Corvus is focused on advancing its 100% controlled 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,
Chief Executive Officer
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 content, commencement and cost of
exploration programs, anticipated exploration program results and the
timing thereof, the discovery and delineation of mineral
deposits/resources/reserves, thepotential for a new high-grade structural zone, and associated potential
mineralization, to be located to the west of the Sierra Blanca deposit
under an extensive area of shallow pediment cover, the potential for
additional vein zones to be present to the west and northeast of the
Yellowjacket zone, the potential to develop multiple Yellowjacket style
high-grade zones, whether at Air Track Hill or elsewhere, the potential
for the new area of mineralization discovered at Air Track Hill to have
higher and/or bonanza grades, the potential for the North Bullfrog
system to continue to grow and/or to develop into a major new
higher-grade, bulk tonnage, Nevada gold discovery, the potential for
dacite units on the property to host additional gold mineralization
beyond that discovered so far, the potential for any mining or
production at North Bullfrog, the potential for the identification of
multiple deposits at North Bullfrog, the potential for the Company to
secure or receive any royalties in the future, business and financing
plans and business trends, 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, 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 2013 Annual Information Form and latest interim
Management Discussion and Analysis filed with certain securities
commissions in Canada. All of the Company's Canadian public disclosure
filings may be accessed via www.sedar.comand readers are urged to review these materials, including the technical
reports filed with respect to the Company's mineral properties.
Caution Regarding Adjacent or Similar Mineral Properties
This news release contains information with respect to adjacent or
similar mineral properties in respect of which the Company has no
interest or rights to explore or mine. The Company advises US
investors that the mining guidelines of the US Securities and Exchange
Commission (the "SEC") set forth in the SEC's Industry Guide 7 ("SEC
Industry Guide 7") strictly prohibit information of this type in
documents filed with the SEC. Readers are cautioned that the Company
has no interest in or right to acquire any interest in any such
properties, and that mineral deposits on adjacent or similar
properties, and any production therefrom or economics with respect
thereto, are not indicative of mineral deposits on the Company's
properties or the potential production from, or cost or economics of,
any future mining of any of the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an
offer to buy or sell securities in the United States.
SOURCE Corvus Gold Inc.
Image with caption: "Figure 1: Location of drill holes discussed in this news release. Red collars and traces indicate holes reported in this news release. Blue indicates holes for which assays are pending. Black indicates previously released results. Significant mineralized faults are shown in dark red. Hachured lines show outlines of present proposed pit designs. Topographic contour interval is 2 metres. (CNW Group/Corvus Gold Inc.)". Image available at: http://photos.newswire.ca/images/download/20140109_C7779_PHOTO_EN_35409.jpg
<p> Contact Information:<br/> Ryan Ko<br/> Investor Relations<br/> Email: <a href="mailto:info@corvusgold.com">info@corvusgold.com</a><br/> Phone: 1-888-770-7488 (toll free) or (604) 638-3246 /Fax: (604) 408-7499 </p>