Corvus Gold Inc. (“Corvus” or the “Company”) - (TSX:KOR)
(OTCQX:CORVF) announces that based on continued exploration success
at its Mother Lode project in southern Nevada and an increased
understanding of the region, the Company has expanded its land
package to approximately 16 square kilometres and outlined three
new targets in the Fluorspar Canyon District (Figure 1).
New District-Wide Exploration
Targets
These new targets focus on three key controls
for the Mother Lode project: 1) a unique favorable Tertiary host
rocks on the north side of the hanging wall of the Fluorspar Canyon
Fault; 2) the intersection of mineralized, north-trending
structural zones; and 3) extensive main gold phase, syn-mineral
intrusive activity. The new targets are listed
below:
- Sawtooth – Extends to the north the broad
mineralized Daisy structural trend with favorable Tertiary
sediments and main stage intrusives and extensive high-level
alteration.
- Coronet – Northeast structural extension of
the Secret Pass deposit to the south into an area projected in to
the favorable Tertiary sedimentary package. This target was
originally identified in the 1990s but, in the opinion of the
Company, was never effectively explored, much like the Mother Lode
project.
- Willy’s – Projected intersection of the
mineralized Sterling intrusive trend and the newly defined
Jasperoid Ridge zone of mineralization into a covered range front
target environment.
Jeff Pontius, President and CEO of Corvus
states, “Continued successful drilling at the Mother Lode project
has prompted us to expand our focus for district-wide exploration
targets in this new Nevada gold district. Our evolving
understanding of the key ore controls on the Mother Lode deposit
have given us confidence in our ability to identify areas with
potential for these types of deposits. Our initial focus in
2018 will be to fully evaluate the potential for the Mother Lode
project and its possible sister deposit, Flatiron. In
addition, Corvus is currently conducting surface exploration on the
three new targets areas ahead of testing in the fall. We
believe that the Fluorspar Canyon Fault Zone is quickly evolving
into a new Nevada gold district, with multiple companies drilling
projects with potential new discoveries in the works.”
Qualified Person and Quality
Control/Quality Assurance
Jeffrey A. Pontius (CPG 11044), a qualified
person as defined by National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 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 & 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 coordinated 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,
Nevada, 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. 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
judgement. There were no limitations on the verification
process.
About the North Bullfrog & Mother
Lode Projects, Nevada
Corvus controls 100% of its North Bullfrog
Project, which covers approximately 72 km² in southern Nevada.
The property package is made up of a number of private
mineral leases of patented federal mining claims and 865 federal
unpatented mining claims. The project is adjacent to a major
highway and power corridor as well as a large water right. The
Company also controls 194 federal unpatented mining claims on the
Mother Lode project which totals 1,597 hectares which it owns 100%
of.
About Corvus Gold Inc.
Corvus Gold Inc. 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.
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.
On behalf ofCorvus Gold
Inc.
(signed) Jeffrey A. PontiusJeffrey A.
Pontius,President & Chief Executive Officer
Contact Information: Ryan
Ko
Investor
Relations
Email:
info@corvusgold.com
Phone: 1-844-638-3246 (toll free) or (604) 638-3246
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 rapid and effective
capture of the potential of our new Mother Lode project, the
potential for new deposits and expected increases in a system’s
potential; anticipated content, commencement and cost of
exploration programs, anticipated exploration program results, the
discovery and delineation of mineral deposits/resources/reserves,
the Company’s belief that the parameters used in the WhittleTM pit
optimization process are realistic and reasonable, the potential to
discover additional high grade veins or additional deposits, the
potential to expand the existing estimated resource at the Mother
Lode project, the statement that the Fluorspar Canyon Fault Zone is
quickly evolving into a new Nevada gold district,, the growth
potential of the Mother Lode project and the potential for any
mining or production at the Mother Lode project, are
forward-looking statements. Information concerning mineral
resource estimates may be deemed to be forward-looking statements
in that it reflects a prediction of the mineralization that would
be encountered if a mineral deposit were developed and mined.
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 2017 Annual Information Form and latest interim
Management Discussion and Analysis filed with certain securities
commissions in Canada and the Company’s most recent filings with
the United States Securities and Exchange Commission (the
“SEC”). All of the Company’s Canadian public disclosure
filings in Canada may be accessed via www.sedar.com and filings
with the SEC may be accessed via www.sec.gov and readers are urged
to review these materials, including the technical reports filed
with respect to the Company’s mineral properties.
A photo accompanying this announcement is
available
athttp://www.globenewswire.com/NewsRoom/AttachmentNg/5295967f-cb48-4b2a-8b0c-8976bdd9c5fd
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