Corvus Gold Outlines Mine Development Plan

 

VANCOUVER, BC - Corvus Gold Inc. reported its planned 2017 exploration and resource development program for the newly acquired Mother Lode project in Nevada, approximately 10 kilometers from the Company's North Bullfrog project. Corvus completed the purchase of 100% of the Mother Lode property with the issuance of 1,000,000 Corvus common shares.

The 2017 Mother Lode work plan will focus on the preparation of a mineral resource estimation to comply with National Instrument 43-101 ("NI 43-101") requirements (*historical estimate is 8.5Mt at an average grade of 1.6 g/t gold totaling 433,000 ozs of gold with the last significant exploration program occurring in the late 1980's; past heap leach production included 34,000 ozs of gold at an average grade of 1.8 g/t). The Mother Lode Project has areas of potential mill and heap leach grade mineralization within a low strip ratio, open pit configuration offering potential as a satellite operation for Corvus' North Bullfrog project.

Jeff Pontius, President and CEO of Corvus said, "The Mother Lode project has potential as a large satellite operation for Corvus' North Bullfrog project. In reviewing the project data, a number of areas have emerged that outline large potential for mineralization which could allow for an expansion of the proposed milling operations at the North Bullfrog project. The project has not been explored since the late 1980's when gold was trading at $400/oz or below. Additionally, the bulk of the past drilling on the project was vertical to depths of less than 200 meters and many times ended in mineralization. The Mother Lode has a unique value add and synergy potential for Corvus' North Bullfrog project."

The Mother Lode project area hosts a relatively high-grade, open pit, mixed sulfide-oxide, deposit in both Tertiary volcanic-sedimentary rocks and Paleozoic sedimentary rocks. The deposit has at least three shallow, north dipping, tabular zones of mineralization with higher grade (+2 g/t Au) core areas localized along major District scale, north trending structural zones. In addition, the large tabular bodies reflect sympathetic low-angle structures to the basial Fluorspar Canyon Fault ("FCF") which is a large regional listric, detachment related, structural zone extending for many tens of miles to the west. In the area of the Mother Lode deposit the FCF rotates into a north-south structural zone which was key in the structural development of the rocks that host this large, high-grade deposit.