Corvus Gold Intersects New Near Surface Stockwork Gold Vein System West of Yellowjacket at Sierra Blanca, North Bullfrog Project, Nevada
Highlights: NB-13-242: 10.7 metres @ 1.21g/t Gold (new stockwork vein
system within 41 metres @ 0.68 g/t gold from surface)
TSX: KOR OTCQX: CORVF
VANCOUVER, Oct. 24, 2013 /PRNewswire/ – Corvus Gold Inc. (“Corvus” or the
“Company”) – (TSX: KOR, OTCQX: CORVF) announces results from three
additional reverse circulation (RC) holes drilled northeast of the
existing Sierra Blanca deposit (Figure 1). Significantly, Hole
NB-13-242 encountered over 250 metres of mineralization in several intervals,
including 41 metres averaging 0.68 g/t gold from the surface (Table 1).
Mineralization associated with stockwork veining between 27 and 38
metres yielded an intercept of 10.7 metres of 1.2 g/t gold. This represents an exciting new vein stockwork zone with similarities to
the upper parts of the Yellowjacket high-grade style of mineralization
occurring 200 metres to the west. Follow up core drilling on this newly
identified vein system is scheduled to start imminently.
Hole NB-13-241 on the northern end of the Sierra Blanca ridge
encountered over 180 metres of mineralization in two intervals (Table
1). Hole NB-13-243 encountered 90 metres of mineralization in two
intervals. In all of these holes, oxidation extends to depths in excess
of 300 metres, which is significantly deeper than previous estimates.
These new results confirm that thickening zones of oxide mineralization
extend from the previously defined currently proposed pit area to the
new Yellowjacket high-grade zone, as well as defining new zones of
higher grade mineralization to the west.
This data, together with the previously reported hole NB-13-238 (12
metres @ 0.8 g/t gold) (see NR13-23, October 2, 2013) on the western
flank of the ridge indicate that there is potential to develop multiple
Yellowjacket style high-grade zones to the west that could enhance the
overall grade and potential project economics of the deposit.
Jeff Pontius, Chief Executive Officer, stated: “These new drill results
continue to expand and enhance the potential of the Sierra Blanca -
Yellowjacket deposit. The increasing depth of oxidation and the
definition of more high-grade, oxide vein potential hundreds of metres
to the west of Yellowjacket could add significant potential to expand
the existing resource. We are excited to begin the follow-up core
drilling on these new vein discoveries and continue to expand the
Yellowjacket system to the west. As we have seen from our ongoing
drilling, the scale of the North Bullfrog system continues to grow,
demonstrating significant potential to develop into a major new Nevada
Table 1: Significant intercepts* from North Sierra Blanca RC holes.
From To Interval Gold Silver Hole ID (metres) (metres) (metres) (g/t) (g/t) NB-13-241 0.0 103.6 103.6 0.27 0.89 Including 1.5 38.1 36.6 0.37 1.23 125.0 202.7 77.7 0.16 0.46 NB-13-242 0.0 41.2 41.2 0.68 1.65 Including 27.4 38.1 10.7 1.21 1.93 45.7 132.6 86.9 0.28 0.87 Including 64.0 89.9 25.9 0.35 0.78 141.7 205.7 64.0 0.21 0.44 211.8 213.4 1.5 0.71 13.00 237.7 274.3 36.6 0.19 0.44 NB-13-243 32.0 89.9 57.9 0.28 Pending Including 42.7 56.4 13.7 0.44 Pending 214.9 239.3 24.4 0.14 Pending
*Intercepts calculated with 0.1g/t gold cutoff and up to 3 metres of
internal waste. Assuming that the mineralization is roughly stratiform
in character, the intercepts are approximately true thickness. All
holes are vertical.
About the North Bullfrog Project, Nevada
Corvus controls 100% of its North Bullfrog Project, which covers
approximately 70 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
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, the
discovery and delineation of mineral deposits/resources/reserves,
potential to develop multiple Yellowjacket style high-grade zones to
the west that could enhance the overall grade and potential project
economics of the deposit, the potential to expand the existing
estimated resource at the North Bullfrog project, the potential for the
North Bullfrog system to continue to grow and/or to develop into a
major new Nevada gold system, 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 existence or
location of additional high-grade veins, 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 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, 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 new reverse circulation holes at Sierra Blanca North. Red collars indicate assays reported in Table 1. Blue collars are holes that have been drilled but have assays pending. “SB North” indicates the north ridge of Sierra Blanca. (CNW Group/Corvus Gold Inc.)”. Image available at: http://photos.newswire.ca/images/download/20131024_C6749_PHOTO_EN_32507.jpg