Corvus Gold Intersects New Near Surface Stockwork Gold Vein System West of
Yellowjacket at Sierra Blanca, North Bullfrog Project, Nevada
VANCOUVER, Oct. 24, 2013
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 gold system."
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 power corridor.
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:
Phone: 1-888-770-7488 (toll free) or (604) 638-3246 / Fax: (604) 408-7499
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