2016 Exploration Program At North Bullfrog Project

 

VANCOUVER - Corvus Gold Inc. reported on its planned exploration program for the North Bullfrog project, Nevada. The initial thrust of the 2016 program will be to follow-up on a new potential high-grade gold discovery adjacent to the peripheral boundaries of the proposed pits as outlined in the Preliminary Economic Assessment (PEA) released last year (NR15-06, June 16, 2015) and to delineate other prospective new discoveries from the 2015 drill program.

At the NW Sierra Blanca target, a new potential high-grade gold discovery was identified late in the 2015 drill program. Due to the proximity to the existing pit outline at Sierra Blanca, a new discovery at this location could further augment the proposed oxide mill & heap leach operation as outlined in the PEA. Other notable new discoveries from the 2015 drill program will be priority follow-up targets in the 2016 program and include the Savage & North Jolly Jane targets. Surface exploration and modeling work is ongoing for these initial targets with drilling scheduled to begin in mid-April with the initial phase totaling approximately 5,000 meters.

Jeffrey Pontius, Corvus CEO stated, "The success of Corvus' 2015 exploration and development work has set the stage for an exciting year of new and expanded discoveries. With our 2015 PEA and several new exploration discoveries from across the District, the Company believes it is increasing the potential of the North Bullfrog property. Corvus hopes to continue to unlock North Bullfrog's value as we further define these and potentially make other new discoveries over the course of the year."

The NW Sierra Blanca target area is over a kilometer long and located about 700 meters west of the high-grade YellowJacket deposit, where higher grade mineralization is associated with a broad zone of stockwork quartz veining. Drilling and exploration modeling in 2015 has now extended the disseminated low-grade system several hundred meters to the west with potential for multiple structural zones hosting high-grade stockwork type mineralization. This new target is at least as large as the current Sierra Blanca/YellowJacket deposit area and offers potential to expand the existing deposit.

The NW Sierra Blanca Zone lies along the western boundary of the main Sierra Blanca deposit under shallow cover and appears to be analogous to the high-grade YellowJacket Deposit to the east. This new zone has returned encouraging intercepts from shallow depths such as 3.1 meters of 5 g/t gold and 42.0 g/t silver (Hole NB-15-282) and 20 meters of 1.3 g/t gold and 1.8 g/t silver (Hole NB-15-269).  This new discovery trends to the NNE and has a direct intrusive association which is encouraging for the discovery of a large system. To date all of the holes drilled under the shallow pediment cover to the west of the Sierra Blanca Deposit have intersected thick zones of low-grade mineralization with several intervals of +1 g/t gold.  We believe these features indicate potential for a large new deposit adjacent to the existing pit design.