- Corvus Gold (KOR) has revealed the latest drilling results from at the Mother Lode project in Nevada
- The company drilled a single hole into the Lynnda strip, a newly identified mineralised zone on the property near the site’s open pit mine
- The Lynnda strip returned a large intercept of 196 metres that graded at 0.44 grams per tonne gold
- This large result included smaller higher-grade sections, including three metres at 1.44 grams per tonne, three metres at 5.52 grams per tonne and 4.5 metres at 1.44 grams per tonne
- Corvus Gold (KOR) is up 11 per cent and is trading at C$3.82 per share
Corvus Gold (KOR) has revealed the latest drilling results from at the Mother Lode project in Nevada.
The company was drilling the Lynnda strip target on the project, which lies halfway between the old Mother Lode mine and AngloGold’s Silicon project.
Corvus has described the Lynnda strip as an oxide gold belt that runs approximately 150 metres below the surface of the project.
The company sunk a singular drill into the Lynnda strip to determine the extent of the mineralization contained within the belt. Drilling hit a196-metre strike that graded at 0.44 grams per tonne gold.
This included intercepts from 263.7 metres to 283.5 metres that graded at 0.77 grams per tonne, which in turn included a 4.5 metre strike of 1.44 grams per tonne.
Another intercept from 341.4 metres downhole to 406.9 metres downhole graded at 0.45 grams per tonne, including a three-metre result that graded at 1.44 grams per tonne.
The final strike from the drill was a 44 metre strike starting at 417 meters downhole that returned 0.90 grams per tonne gold, including a 3 metre results that graded at 5.52 grams per tonne
The company will begin to drill the upper portion of the system in an expanded drilling program, which it expects to return higher grades of mineralization.
President and CEO of Corvus Gold, Jeffrey Pontius said the ongoing exploration work has continued to produce encouraging results.
“The large exploration programs initiates by surrounding major and mid-tier mining companies pursuing a number of other targets and discovery series punctuate this potential.
“The initial results at Lynnda Strip suggest that the system could be amenable to open pit mining and heap leach processing.
“Corvus is continuing with the evaluation of this acting new discovery on its ground and the value it can bring to our shareholders as well as continuing to pursue our other new discoveries across the district on our large, 130 square kilometres 100 per cent owned land package,” he said.
Corvus Gold (KOR) is up 11 per cent and is trading at C$3.82 per share at 12:30 pm EDT.