Corvus Gold Begins 2016 Phase I Drill Program, North Bullfrog Project

 

VANCOUVER - Corvus Gold Inc. reports the start of its Phase I 2016 drill program at the North Bullfrog Project, Nevada. The 5,000 meter reverse circulation (RC) drill program will focus on two main areas 1) Expanding the new high-grade NW Sierra Blanca target in the large unexplored area just west of the current Sierra Blanca deposit and; 2) Follow-up drilling to the new Lower Savage target and the West Jolly Jane fault approximately 500m directly south of the YellowJacket deposit (Figure 1).  The program will be the first stage of follow-up on new geologic, structural and mineralization results from the 2015 exploration program.  

Jeff Pontius , President and CEO of Corvus said "The positive results from Corvus' 2015 exploration program have outlined a number of high priority targets for 2016. The phase I drill program will begin by testing a new high-grade structural zone discovered last year at the NW Sierra Blanca target which has potential to host another YellowJacket type deposit. In addition we will be testing the new detachment style structural zones at the lower Savage target which we believe has potential to host a new style of high-grade mineralization. This targeted phase I drill program will address new areas for deposit expansion and what might be an entirely new deposit just below the existing resource area. The more exploration we do at North Bullfrog the greater the potential we unlock from this evolving new Nevada Gold district." 

The new NW Sierra Blanca Zone is currently defined by about a dozen drill holes over a kilometer of strike length.  The gold system is over 100 meters wide and extends to at least 150 meters in depth of low-grade gold and silver with narrower 2-20 meter wide zones of 1-5 g/t stockwork related gold-silver mineralization.  The system trends to the northeast and includes the new Rhyolite zone as seen in hole NB-15-267, with 10.7m @ 3.47 g/t Au & 3.6 g/t Ag within 210m at 0.47 g/t Au & 1.4 g/t Ag, and hole NB-15-282 that is 600 meters to the SW which returned 3.1m @ 5 g/t Au and 42 g/t Ag within 99.1m of 0.64 g/t Au and 4.08 g/t Ag.

Drilling this year will focus on outlining the shape and extent of the higher grade stockwork zones and assessing their potential impact on the overall mine plan and project economics.  The initial drill program at NW Sierra Blanca and the northern extension of the YellowJacket deposit into the Swale target area, will involve about 15 drill holes.   

The Lower Savage target is a unique new discovery that could have an impact on the gold and silver potential of the North Bullfrog District.  Mineralization intersected near the bottom of Savage hole NB-15-273 with 3.1m @ 2.05 g/t Au and 178 g/t Ag, the deepest drilled at North Bullfrog, is characteristic of a hotter and more intrusion related gold-silver system which could be the source of mineralization for the overlying Sierra Blanca–YellowJacket deposit.  This mineralization which lies about 100 meters below the current deposit is high in silver with significant copper (up to 0.2%).  The mineralized zone appears to be a splay off of the West Jolly Jane listric fault, a structural system that is related to large scale movement at low angles and is similar to the structural environment that hosts the historic Bullfrog deposit located 10 kilometers to the south.  The initial follow-up drilling on this new discovery will test the north and south extension of the zone and if positive will be followed with oriented core drilling of the zone. 

The West Jolly Jane structural zone intersected in the Lower Savage target come to surface in the North Jolly Jane area and recent exploration along this zone has identified outcropping banded quartz-carbonate veins up to a kilometer to the north of the northern most drilling (over 1.5 km to the north of the Jolly Jane Deposit).  This structural zone remains essentially untested.  Two or three scout holes will be drilled on this structural zone in the first phase to assess its potential to host YellowJacket/Bullfrog type vein systems. 

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 has excellent infrastructure, being adjacent to a major highway and power corridor as well as a large water right.