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Corvus Gold Inc
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Close 2018-02-22 C$ 1.47
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Corvus Gold drills 39.6 m of 2.45 g/t Au at Mother Lode

2018-02-22 08:12 ET - News Release

Mr. Jeffrey Pontius reports


Corvus Gold Inc. has received initial results from the first four holes of its 2018 phase 2 Mother Lode drill program. The results are from three holes evaluating the western extension of the Mother Lode deposit and one hole evaluating the southern extension (see attached table). Results continue to demonstrate the western extension of the main Mother Lode deposit with thick, higher-grade intercepts extending into the favourable host rock package.

Western extension, Mother Lode deposit

Holes ML18-043, 44 and 45 demonstrate the continued western extension in the core high-grade zone in the Mother Lode deposit (27.4 metres at 1.81 grams per tonne Au, 25.9 m at 2.32 g/t Au and 39.6 m at 2.45 g/t Au respectively). In addition, the new upper zone of low-grade oxide intersected in previous holes to the east is also extending to the west. As with the main zone of the Mother Lode the western extension is hosted by the calcareous Tertiary sediments above the Fluorspar Canyon fault (FCF) and the Paleozoic carbonates below the FCF. Given the success of these initial western holes, the company is planning for additional stepout drilling for another 200 metres to the west toward the Flatiron target in this current phase of work.

Drill results -- south end of Mother Lode gold system

Hole ML17-035, drilled southwest of the historic pit area, has returned a narrow, shallow high-grade intercept (4.57 m at 1.55 g/t Au), but appears to be indicating the limit of the higher-grade part of the Mother Lode system to the south.

Corvus's next priority target for another Mother Lode deposit is the Flatiron target approximately one kilometre to the southwest of the Mother Lode pit. The Flatiron target has an outcropping thick jasperoid zone averaging over one g/t gold along the FCF that projects down dip into favourable host units, which the company believes highlights the potential for another Mother Lode type deposit to the north.

Jeff Pontius, president and chief executive officer of Corvus, states: "The extension of the Mother Lode system to the west offers significant potential for expanding the deposit. The success of this drilling and our new modelling of the Flatiron target one kilometre to the southwest of the Mother Lode pit is highlighting potential for an expansion of the main Mother Lode deposit. Our phase II drilling program is focusing on stepout drilling around the core deposit which so far has been successful at outlining a large, near-surface, high-grade, sediment-hosted gold system. The Mother Lode gold system is evolving into the core deposit in what we believe is emerging as a new Nevada gold belt within the Fluorspar Canyon gold district."


Drill hole No.   From (m)    To (m)   Interval (m)   Gold (g/t)   Silver (g/t)   Comment

ML17-035           80.77     85.34           4.57         1.55            n/a    Drilled SW of pit
ML18-043          124.97    128.02           3.05         0.63            n/a    West of ML17-027 New Upper Ox zone
                  137.16    143.26           6.10         0.55            n/a    New Upper Ox zone
                  220.98    248.41          27.43         1.81            n/a    West ext. -- Main zone
inc               224.03    246.89          22.86         2.05            n/a    +1 g/t
                  333.76    341.38           7.62         0.44            n/a    
ML18-044          207.26    222.50          15.24         0.37            n/a    West of ML17-022 New Upper Ox zone
                  230.12    251.46          21.34         0.92            n/a    New Upper Ox zone
inc               234.70    239.27           4.57         1.22            n/a    +1 g/t           
inc               243.84    249.94           6.10         1.14            n/a    +1 g/t           
                  256.03    281.94          25.91         2.32            n/a    West ext. -- Main zone
inc               259.08    280.42          21.34         2.69            n/a    +1 g/t                
ML18-045          169.16    176.78           7.62         0.52            n/a    West of ML17-039 New Upper Ox zone
                  184.40    187.45           3.05         0.46            n/a    New Upper Ox zone      
                  256.03    295.66          39.63         2.45            n/a    West ext. -- Main zone 
inc               256.03    289.56          33.53         2.84            n/a    +1 g/t                 

(Reported intercepts are not true widths as there are currently insufficient data to calculate true orientation in 
 space. Mineralized intervals are calculated using a 0.3 g/t cut-off unless otherwise indicated.)

Qualified person and quality control/quality assurance

Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, 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 CEO 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 NI 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 Mother Lode 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 American Assay Laboratories (AAL) in Reno, Nev., for preparation and assaying. AAL is independent of the company. AAL'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 AAL and an ISO-compliant third party laboratory for additional quality control. Mr. Reischman, a qualified person, has verified the data underlying the information disclosed herein, including sampling, analytical and test data underlying the information, by reviewing the reports of AAL, methodologies, results and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgment. There were no limitations on the verification process.

About the North Bullfrog and Mother Lode projects, Nevada

Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 72 square kilometres 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 company also controls 194 federal unpatented mining claims on the Mother Lode project which totals 1,597 hectares which it owns 100 per cent of.

About Corvus Gold Inc.

Corvus Gold is a North American gold exploration and development company, focused on its near-term gold-silver mining project at the North Bullfrog and Mother Lode districts in Nevada. In addition, the company controls a number of royalties on other North American exploration properties representing a spectrum of gold, silver and copper projects. Corvus is committed to building shareholder value through new discoveries and the expansion of its projects to maximize share price leverage in an advancing gold and silver market.

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