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Corvus Gold Inc
Symbol KOR
Shares Issued 126,367,845
Close 2020-11-16 C$ 3.34
Recent Sedar Documents

Corvus drills 42.7 m of 2.06 g/t Au in Nevada

2020-11-17 07:08 ET - News Release

Mr. Jeffrey Pontius reports

CORVUS GOLD'S NEW LYNNDA STRIP DISCOVERY DISPLAYS MULTIPLE VEIN SYSTEMS WITH 42.7 METRES @ 2.06 G/T GOLD INCLUDING 12.2 METRES @ 4.88 G/T GOLD, IN THE EASTERN BULLFROG MINING DISTRICT, NEVADA

Corvus Gold Inc. has received additional results from its new Lynnda Strip discovery east and west of the previously announced discovery hole ML20-168 (NR20-17: 106.7 metres at 0.71 gram per tonne gold and 48.8 m at 0.90 g/t gold). The new oxide vein intersections are within broad zones of lower-grade disseminated mineralization highlighted by an Upper zone vein in hole ML20-170 (42.7 m at 2.06 g/t gold including 12.2 m at 4.88 g/t gold) and a Lower zone vein in hole ML20-166 (33.5 m at 1.63 g/t gold including 7.6 m at 3.96 g/t gold). These thick zones of mineralization continue to display a gold system thickness of 150 to 200 metres that all end in mineralization indicating additional potential at depth.

The higher-grade vein systems at Lynnda Strip are associated with gray quartz stockwork systems that best develop along moderately west-dipping north-south structural zones and reactively flat, east-dipping stratigraphic contact related zones. These veins appear related to subsidiary, structural zones in the hangingwall of large displacement, north-south-trending major faults and are surrounded by broad zones of disseminated lower-grade oxide gold mineralization. Corvus believes that continuing core drilling at Lynnda Strip has shown the system could extend an addition 100 metres below the initial RC drill holes announced to date with oxidation that could be excess of 500 metres deep.

The dimensions of the Lynnda Strip system is in excess of 500 metres east-west and is displaying a system thickness that could be in excess of 200 metres. As like other systems in the Bullfrog district that are related to north-south-trending structural zones, the potential strike extent could be multiples of the currently known width. Corvus believes that this system could be very large and currently appears to be a higher-grade heap-leach open-pit deposit. Corvus's strategic land position will allow it to assess the width of this north-south-trending system which initially will target an approximate one-kilometre-long fence assessing three major structural zones: Lynnda Strip, South Merlin and Owl Creek, which is the north extension of Mother Lode zone.

Jeffrey Pontius, president and chief executive officer of Corvus, said: "These new results from Lynnda Strip along with the deep extension of the gold system that we see in the ongoing core drilling program is outlining a large new discovery of a deeply oxidized heap leach deposit. Corvus's continued assessment and definition of its size and quality will be a major interest driver for the district. The Lynnda Strip target is blind, under non-mineralized cover, resembling all major discoveries made in the district to date and reinforces the exploration potential of this area. When looked at in the context of other western Nevada major volcanic-related gold systems like Round Mountain and Comstock, we could be just scratching the surface of the potential of this re-emerging Nevada gold district."

     LYNNDA STRIP -- MINERAL RESOURCE EXPANSION PHASE 4 RESULTS 
  
Drill hole No.          From          To     Interval        Gold   Silver
                         (m)         (m)          (m)       (g/t)    (g/t)

ML20-166              167.64      175.26         7.62        0.46      n/a
                      211.84      272.80        60.96        0.50      n/a
incl.                 222.50      225.55         3.05        1.10      n/a
                      281.94      338.33        56.39        0.93      n/a
incl.                 292.61      313.94        21.33        1.26      n/a
                      356.62      390.14        33.52        1.63      n/a
incl.                 359.66      371.86        12.20        2.98      n/a
incl.                 361.19      368.81         7.62        3.96      n/a
                      394.72      402.34         7.62        1.70      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 0.1 g/t cut-off unless otherwise 
indicated.

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

ML20-170               249.94       292.61        42.67         2.06          n/a
incl.                  251.46       278.89        27.43         3.08          n/a
incl.                  263.65       275.84        12.19         4.88          n/a
                       313.94       333.76        19.82         0.16          n/a
                       338.33       353.57        15.24         0.24          n/a
                       368.81       376.43         7.62         0.18          n/a
                       399.29       448.06        48.77         0.39          n/a
                       460.25       466.34         6.09         0.78          n/a
                       472.44       499.87        27.43         0.24          n/a
CH20-15                376.43       428.24        51.81         0.70          n/a
incl.                  388.62       393.19         4.57         1.37          n/a
incl.                  408.43       419.10        10.67         1.14          n/a
 
   

Qualified person and quality control/quality assurance

Mr. 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 North Bullfrog 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 mineral 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 (International Organization for Standardization) 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, 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.

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 American National Standards/International Organization for Standardization/International Electrotechnical Commission 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 United States 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 A, quality assurance requirements, Jan. 1, 2002. Resource Development is a state-of-the-art laboratory for metallic and industrial minerals filling a need for high-quality, cost-effective and timely technical services for the international mining industry.

About the North Bullfrog and Mother Lode projects, Nevada

Corvus controls 100 per cent of its North Bullfrog project, which covers approximately 90.5 square km in southern Nevada. The property package is made up of a number of private mineral leases of patented federal mining claims and 1,134 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 100-per-cent land ownership now covers over 127 square km, hosting two major new Nevada gold discoveries.

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. 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.

We seek Safe Harbor.

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