Quantcast
Last updated on April 20, 2014 at 21:20 EDT

Corvus Gold’s JV Partner Reports Positive Drill Results at West Pogo Project, Alaska

September 18, 2012

VANCOUVER, Sept. 18, 2012 /PRNewswire/ – Corvus Gold Inc. (“Corvus” or the
“Company”) – (TSX: KOR, OTCQX: CORVF) reports the completion of the
2012 summer exploration program at the West Pogo Project in Alaska as
provided by its joint venture partner Alix Resources (TSX-V:AIX).  Alix
Resources who are fully funding the West Pogo exploration program
completed two diamond core drill holes totalling 610 metres.  Both
holes encountered favorable host rocks with extensive alteration. 
Corvus’ JV partner believes the results (Table 1) suggest they are on
the edge of a significant gold system and will continue to explore the
prospective targets in 2013.

     ___________________________________________________
    |               West Pogo Project Drill Results     |
    |___________________________________________________|
    | HoleID |From (m)|  To (m) |Interval (m)|Gold (g/t)|
    |________|________|_________|____________|__________|
    |WP-12-01|  243.7 |   249.3 |      5.6   |    0.67  |
    |________|________|_________|____________|__________|
    |        |        |including|      2.4   |    1.74  |
    |________|________|_________|____________|__________|
    |WP-12-02|   74.5 |   77.7  |      3.2   |    1.10  |
    |________|________|_________|____________|__________|

    *Intercepts calculated with 0.45 g/t cutoff -Absence of structural and
    geological contacts
    precludes an estimate of true thickness.

About the West Pogo Gold Project

Alix Resources optioned the 24km(2) West Pogo claim block in February 2012 and, under the terms of the
option agreement, can earn a 60% interest in the property by incurring
expenditures of USD 5M over five years.  Corvus has reserved a 2-3% NSR
royalty on the project, with Alix having the right to purchase 1% for
USD 1M (NR Mar. 5, 2012).

The West Pogo project is located approximately 3.5 km’s to the west of
Sumitomo Metals Corp’s Pogo Gold Mine.  The Pogo Mine road and power
line pass through the West Pogo Property providing easy access to the
property.  At West Pogo there is the potential to discover high-grade
gold mineralization in both steeply and shallowly dipping structural
zones.  Surface mapping and sampling in 2011 has identified two more
than 1 kilometre long East-West trending zones of alteration and
mineralization on the property.  Mineralization is associated with
zones of sericite-dolomite alteration in the host quartz monzonite and
with silica-flooded breccias which have produced grab samples with up
to 118.5g/t gold.  One N-S oriented shallow hole drilled in 2003
encountered broad zones of gold mineralization in altered quartz
monzonites but missed breccia-style mineralization.  In 2011, a 3D
induced polarization survey covering 5km(2) over the main alteration zones highlighted a series of NW-trending
cross structures, which may be the control on the high-grade
mineralization, thus explaining why the original drill hole missed the
high-grade zone.

Qualified Person and Quality Control/Quality Assurance

Corvus Gold has been given the above information from its joint venture
partner Alix Resources who is responsible for its accuracy.  Alix
Resources representative, Dr. Tom E. McCandless, P.Geo., is a qualified
Person as defined by NI 43-101, has reviewed and approved the technical
information provided to Corvus Gold.  Jeffrey A. Pontius (CPG 11044), a
qualified person as defined by National Instrument 43-101, has reviewed
and approved the information provided by Alix for this news release. 
Mr. Pontius is not independent of Corvus, as he is the CEO and holds
common shares and incentive stock options.

At the West Pogo project core is being sawed in half and sampled at
roughly one meter intervals, then delivered by truck to ALS-Chemex
(Fairbanks, Alaska) for sample preparation, after which sample pulps
are shipped to the ALS Minerals facility in North Vancouver, B.C. for
assay. Gold is determined by fire assay with AAS finish (ALS protocol
Au-AA24), and trace elements by ICP-AES after nitric aqua regia
digestion (ALS protocol ME-ICP41). The samples are submitted with
in-house and/or certified gold standards inserted into the sample
stream.

About Corvus Gold Inc.

Corvus Gold Inc. is a resource exploration company, focused in Nevada,
Alaska and Quebec, which controls a number of exploration projects
representing a spectrum of early-stage to advanced gold projects. 
Corvus is focused on advancing its 100% owned North Bullfrog, Nevada
project towards a production decision while continuing to explore for
major new gold discoveries. Corvus is committed to building shareholder
value through advancing new gold discoveries to production while
leveraging noncore assets via partner funded exploration work into a
portfolio of royalty and carried interests in its projects.

On behalf of
Corvus Gold Inc.

(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
Chairman and 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, the
discovery and delineation of mineral deposits/resources/reserves,
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. In addition, information with respect to Alix Resources
on the West Pogo property had been provided by Alix Resources (the
operator of the West Pogo joint venture) and, as such activities are
not within the control of the Company, the Company takes no
responsibility for the accuracy of such statements.  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
or any of its joint venture partners 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 or
its joint venture partners may produce or plan to produce, the
inability of the Company or any of its joint venture partners to obtain
any necessary permits, consents or authorizations required for its or
their activities, the inability of the Company or any of its joint
venture partners to produce minerals from their properties successfully
or profitably, to continue its projected growth, to raise the necessary
capital or to be fully able to implement their respective business
strategies, and other risks and uncertainties disclosed in the
Company’s latest interim Management Discussion and Analysis and filed
with certain securities commissions in Canada.  All of the Company’s
Canadian public disclosure filings may be accessed via www.sedar.com and 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
are not indicative of mineral deposits on the Company’s 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.


Source: PR Newswire