Corvus Gold Inc. ("Corvus" or the "Company") (TSX: KOR) is pleased
to announce the results from the first of several targets being
tested by its Fall 2010 drilling program at the North Bullfrog
Project near Beatty, Nevada. Drilling at the Jolly Jane Prospect
has encountered shallow and broad zones of continuous
mineralization, including 70 metres @ 0.4 g/tgold in NB-10-45 and
79 metres @ 0.3 g/t gold in NB-10-47.
Jolly Jane Drilling Results
The results received to date from the Jolly Jane area (Table 1
and Figure 1, to view Figure 1, please go to the following link:
http://media3.marketwire.com/docs/kimg1118.pdf) have confirmed the
Crater Flat tuff as a favourable host unit for broad, continuous
mineralization over the area of at least 200 x 300 metres that was
tested by this round of drilling. These results appear to indicate
that the grade and continuity of the mineralization is increasing
from the north (NB-10-42) to the south (NB-10-46 and 47).
"This is our first look at this area and these results confirm
the intensity and continuity of the mineralization," said Russell
Myers, President of Corvus. "These are excellent results for a
first pass in this strategic area of Nevada and they will help us
zero in on potentially higher grade centers of mineralization."
The current North Bullfrog Fall 2010 program is scheduled to
drill 10,000 metres (approximately 50 holes) over the next few
months, and test a number of targets in the area including Sierra
Blanca and Savage Valley.
Table 1: Summary intercepts from drilling at the Jolly Jane Prospect(i)
Interval
HoleID From (metres) To(metres) (metres) Gold (g/t)
---------------------------------------------------------------------------
NB-10-42 54.9 103.6 48.8 0.27
NB-10-43 51.8 59.4 7.6 0.37
NB-10-43 96.0 108.2 12.2 0.27
NB-10-44 74.7 112.8 38.1 0.33
NB-10-45 53.3 123.4 70.1 0.35
NB-10-46 45.7 97.5 51.8 0.34
NB-10-46 147.8 157.0 9.1 0.29
NB-10-47 13.7 93.0 79.2 0.32
(i) Note: All intercepts are calculated using a 0.1 g/t gold cutoff and a
maximum of 3 metres of internal waste. The foregoing intercepts are not
true widths. At this time, there is insufficient data with respect to the
shape of the mineralization to calculate its true orientation in space
About the North Bullfrog Project
The North Bullfrog Project is 100% controlled by Corvus and
covers 24 square kilometres of Federal unpatented and patented lode
mining claims (Figure 1). The property is located near Beatty,
Nevada, 8 kilometres north of Barrick Gold Corporation's Bullfrog
mine, which produced 2.4 million ounces of gold.
Gold was first discovered on the North Bullfrog property in 1904
and approximately 112,000 ounces of gold and 869,000 ounces of
silver were produced from narrow high-grade veins. Historical
exploration was focused on these high grade veins and, in addition,
on the broad zones of lower grade mineralization hosted in adularia
altered ash flow tuffs discovered during such initial historical
exploration.
The current exploration program is focused on not only defining
the large bulk tonnage potential of the project, but also testing
favourable structural projections of high-grade vein systems which
may be hidden under cover. The Company's development concept is to
identify multiple deposits (bulk tonnage and high-grade) which can
be fed into a central processing facility.
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 forms the basis for this
news release and has approved the disclosure herein. Mr. Pontius is
not independent of the Company, as he is a director and the
Chairman and CEO and holds common shares and incentive stock
options.
The work program at North Bullfrog was designed and supervised
by Russell Myers, President of Corvus, and Mark Reischman, the
Nevada Exploration Manager for Corvus, who are together responsible
for all aspects of the work, including the quality control/quality
assurance program. On-site personnel at the project photograph the
core from each individual borehole prior to preparing the split
core and log and track all samples prior to sealing and shipping.
All sample shipments are sealed and shipped to ALS Chemex in Reno,
Nevada, or Vancouver, B.C., for assay. 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. Quality control is further assured by the use of
international and in-house standards. 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
Alaska and Nevada, which controls a number of exploration projects
representing a spectrum from early stage to the advanced gold
projects. Corvus is committed to building shareholder value through
new discoveries and leveraging those discoveries via partner funded
exploration into carried and/or royalty interests that provide its
shareholders significant exposure to produced gold to maximize the
value for their investment.
On behalf of Corvus Gold Inc.
Jeffrey A. Pontius, Chairman and 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, the potential for higher grade zones
of mineralization to exist at North Bullfrog, the potential for the
identification of multiple deposits at North Bullfrog and the
operation of a central processing facility to treat North Bullfrog
mineralization,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.comand 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 are not indicative of mineral
deposits on the Company's 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.
Contacts: Corvus Gold Inc. Quentin Mai Manager - Corporate
Communications (604) 683-3246 or Toll Free 1-888-770-7488
qmai@corvusgold.com Corvus Gold Inc. Shirley Zhou Manager -
Corporate Communications (604) 638-3246 or Toll Free 1-888-770-7488
(604) 408-7499 (FAX) szhou@corvusgold.com
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