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Corvus Gold Inc
Symbol C : KOR
Shares Issued 106,810,945
Close 2019-01-10 C$ 2.60
Recent Sedar Documents

Corvus drills 115.82 m of 1.83 g/t Au at Mother Lode

2019-01-10 08:42 ET - News Release

Mr. Jeff Pontius reports

CORVUS GOLD EXTENDS MOTHER LODE DEPOSIT TO THE NORTH, DEMONSTRATES EXTENSIVE, BROAD, HIGH-GRADE MINERALIZATION

Corvus Gold Inc. has released results from the initial five holes from the northern extension of its phase III resource expansion drill program at the 100-per-cent-owned Mother Lode deposit in Nevada (initial resource announced September, 2018). Stepout holes have outlined potential for an expansion of the Mother Lode gold system to the north with the mineralized zone thickening and grades increasing (see table, highlighted by ML18-093: 115.8 metres at 1.83 grams per tonne gold). Exploration modelling from the continuing program is identifying potential for a new mineralization centre to the north of the currently defined resource, which is scheduled to be tested with an aggressive grid drilling program this year.

Gold mineralization in these northern holes has defined a strong north-south vector along the Fluorspar Canyon fault (FCF) near the intersection with the Tertiary sediments, hosting both the upper sulphide zone and the lower oxide zone. This highly broken, structural intersection has also localized multiple dikes which along with the sediments are a major ore host for the higher-grade mineralization (ML18-093: 115.8 m at 1.83 g/t Au and ML18-83: 65.5 m at 1.53 g/t Au). These results are encouraging for further resource expansion to the north which remains open.

In addition, most of these northern stepout holes ended in thick zones of oxide mineralization as highlighted by hole ML18-092 (24.4 m at 1.22 g/t gold) which ended in oxidized carbonates with a grade of 3.36 g/t gold. Further follow-up drilling will target the thickest and highest-grade part of the FCF target to the north of ML18-092 and ML18-093 as well as up and down dip.

Jeff Pontius, president and chief executive officer of Corvus, said: "We are excited about the thicknesses of both sulphide and oxide zones to the north which appear to be indicating a new centre of mineralization similar to the current known deposit to the south which is encouraging for an expansion of the Mother Lode deposit. We have been drilling the Mother Lode deposit for the past 18 months and have yet to find the edge of it in any direction. With the initial resource only including drilling through mid-July, these and earlier results point to continued expansion potential. Our evolving understanding of the overall Mother Lode sediment-hosted system is helping define other new targets throughout our large 122 square km land package."

                              MOTHER LODE DRILLING RESULTS

Drill hole       From (m)     To (m)    Interval (m)   Gold (g/t)   Silver (g/t)

ML18-085          335.28     359.66           24.38         0.20            n/a
                  388.62     414.53           25.91         1.37            n/a
incl.             390.14     405.38           15.24         1.59            n/a
incl.             409.96     414.53            4.57         1.77            n/a
                  419.10     437.39           18.29         0.31            n/a
ML18-092          374.90     384.05            9.15         0.51            n/a
                  420.62     445.01           24.39         1.22            n/a
incl.             422.15     426.72            4.57         1.58            n/a
incl.             429.77     437.39            7.62         1.46            n/a
incl.             441.96     445.01            3.05         2.44            n/a
ML18-093          371.86     487.68          115.82         1.83            n/a
incl.             381.00     409.96           28.96         1.96            n/a
incl.             428.24     475.49           47.25         2.65            n/a
ML18-094          332.23     335.28            3.05         0.71            n/a
incl.             339.85     349.00            9.15         1.02            n/a
                  355.09     370.33           15.24         1.76            n/a
                  355.09     364.24            9.15         2.69            n/a
ML18-095          355.09     376.43           21.34         0.48            n/a
incl.             385.57     402.34           16.77         0.54            n/a
                  409.96     414.53            4.57         0.69            n/a

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, a qualified person as defined by National Instrument 43-101, 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 COO 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. Pontius 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.

Scott E. Wilson, CPG (10965), registered member of SME (4025107) and president of Resource Development Associates Inc., is an independent consulting geologist specializing in mineral reserve and resource calculation reporting, mining project analysis and due diligence evaluations. He is acting as the qualified person, as defined in National Instrument 43-101, and is the primary author of the technical report for the mineral resource estimate. Mr. Wilson has over 29 years of experience in surface mining, resource estimation and strategic mine planning. Mr. Wilson is president of Resource Development Associates Inc. and is independent of the company under NI 43-101.

Mr. Wilson 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.

Metallurgical testing on North Bullfrog and Mother Lode samples has been performed by McClelland Analytical Services Laboratories Inc. of Sparks, Nev. McClelland is an ISO 17025-accredited facility that supplies quantitative chemical analysis in support of metallurgical, exploration and environmental testing using classic methods and modern analytical instrumentation. McClelland has met the requirements of the IAS Accreditations Criteria for Testing Laboratories (AC89), has demonstrated compliance with ANS/ISO/IEC Standard 17025:2005, general requirements for the competence of testing and calibration laboratories, and has been accredited, since Nov. 12, 2012. Hazen Research Inc., an independent laboratory, has performed flotation, AAO testing and cyanide leach testing on samples of sulphide mineralization from the YellowJacket zone and Swale area of Sierra Blanca, and roasting tests on Mother Lode flotation concentrate. Hazen holds analytical certificates from state regulatory agencies and the U.S. Environmental Protection Agency. Hazen participates in performance evaluation studies to demonstrate competence and maintains a large stock of standard reference materials from the National Institute of Standards and Technology (NIST), the Canadian Centre for Mineral and Energy Technology (CANMET), the EPA, and other sources. Hazen's QA program has been developed for conformance to the applicable requirements and standards referenced in 10 CFR 830.120 subpart -- quality assurance requirements, Jan. 1, 2002. Pressure oxidation test work on Mother Lode concentrate samples was performed by Resource Development Inc. of Wheatridge, Colo.

For additional details, see technical report entitled "Technical Report and Preliminary Economic Assessment for the Integrated Mother Lode and North Bullfrog Projects, Bullfrog Mining District, Nye County, Nevada," dated Nov. 1, 2018, and amended on Nov. 8, 2018, with an effective date of Sept. 18, 2018, on the company's profile at SEDAR.

About the North Bullfrog and Mother Lode projects, Nevada

Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 86.6 square kilometres in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 1,057 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 445 federal unpatented mining claims on the Mother Lode project which totals approximately 36.5 square km, which it owns 100 per cent. The total Corvus Gold 100-per-cent land ownership now covers over 123.1 square km, hosting two major new Nevada gold discoveries.

The combined Mother Lode and North Bullfrog projects contain a measured mineral resource for the mill of 9.3 million tonnes at an average grade of 1.59 g/t gold, containing 475,000 ounces of gold and indicated mineral resources for the mill of 18.2 Mt at an average grade of 1.68 g/t gold containing 988,000 ounces of gold and an inferred mineral resource for the mill of 2.3 Mt at an average grade of 1.61 g/t gold containing 118,000 ounces of gold. In addition, the project contains a measured mineral resource for oxide, run of mine, heap leach of 34.6 Mt at an average grade of 0.27 g/t gold containing 305,000 ounces of gold and an indicated mineral resource for oxide, run of mine, heap leach of 149.4 Mt at an average grade of 0.24 g/t gold containing 1.15 million ounces of gold and an inferred, oxide, run of mine, heap leach mineral resource of 78.7 Mt at an average grade of 0.26 g/t gold containing 549,000 ounces of gold.

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.

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