- Corvus Gold (KOR) has revealed the latest results from drilling on its Motherlode project in Nevada
- Expansion drilling on the property targeting the Central Intrusion Zone has identified that gold extends southwards from the Motherlode deposit on the property
- These broad gold zones returned 56.4 metres of strike at 1.71 grams per tonne gold
- Other results include 64.9 metres at 1.02 grams per tonne gold, with a further internal assay of 11.7 metres at 3.9 grams per tonne gold
- Corvus Gold (KOR) is down 0.9 per cent and is trading at C$4.03 per share
Corvus Gold (KOR) has revealed the latest results from drilling on its Motherlode project in Nevada.
The Vancouver-based company has been expanding drilling on Motherlode into the Central Intrusion Zone target.
The new intercepts from that zone include 56.4 metres at 1.71 grams per tonne gold. Another strike from a separate drill hole showed a 64.9 metre strike at 1.02 grams per tonne gold, which included an 11.7 metre result of 3.9 grams per tonne gold.
These results extended the gold strike of previous drilling and expanded the mineralised areas of the property outwards.
The Central Intrusion Zone will now be the focus of drilling work for two of the three rigs Corvus has turning in the Nevada gold district, while the third will be sent to drill the Lynnda Strip target.
The company believes that these results from the Central Intrusion Zone have confirmed that gold extends from the north intrusion down through into the central zone of the property.
This indicates broad zones of gold mineralization, albeit at relatively low grades, extending outwards from the Motherlode deposit.
Jeffrey Pontius, CEO of Corvus, called the new results intriguing and that the new results continued to support the expansion of the Mother Lode deposit.
“Although most of the CIZ drilling will not be incorporated into the updated preliminary economic assessment, which is expected to be completed in September, this, and ongoing drilling, will be incorporated into a mineral resource estimate date in the new year along with other new discovery drilling at Lynnda Strip.
“As we proceed with evaluation the economic significances of Mother Lode and North Bullfrog in this unprecedented bull gold market, it has become a moving target as margins increase with the ever-increasing gold price, up over 35 per cent in the last 12 months,” he said.
Corvus Gold (KOR) is down 0.9 per cent and is trading at C$4.03 per share at 1:00 am EDT.