Corvus has published results from eight holes targeting the eastern, western and below pit-bottom resource expansion potential at its Mother Lode deposit on the Walker Lane Trend in the state's south-west. Results including 38m grading 2.58 grams per tonne gold continue to show the potential to expand the deposit to the west and east as well as at depth. Many holes ended in mineralisation and have thickening oxide zones at depth.
Resource expansion drilling at Mother Lode is ongoing with 15,000m planned during the current exploration phase with the reported holes supporting continued exploration to the east of the main Mother Lode deposit where additional grid drilling will take place this spring.
Drilling at the western extension of the deposit shows increasing grade with depth. This deep target is now over 500m in length and remains open along strike and at depth with core drilling planned in the near future.
"The eastern expansion of the Pit and Main Zone is further confirmed with these latest results that open up a large new area to expand our existing deposit," said president and CEO Jeff Pontius.
"Mother Lode is the key new cornerstone discovery in the Bullfrog gold district.
"As we begin our expanded new discovery exploration programme at several priority targets on our large land package, we expect to continue to unlock the potential for this re-emerging, Nevada gold district."
Shares in Corvus (TSX:KOR) closed up 1% Friday at C$2.08 valuing the company at $231 million. Its share price has fallen 21% since the start of the year.
Across the state in the north central Carlin Trend, Gold Standard Ventures has reported Phase II results from 19 reverse-circulation holes and two core holes at the Jasperoid Wash deposit on its Railroad-Pinion project. Drilling was designed to expand areas of known shallow oxide mineralisation, test new targets north and south of the existing drill pattern and provide additional material for metallurgical testing.
Two holes intersected thick, near-surface oxide gold mineralisation hosted in pervasively altered and oxidized Pennsylvanian-Permian debris flow conglomerate and calcarenite, the same host as the Dark Star and Dixie deposits. Highlights included 25.9m grading 0.69g/t that continue to support the lateral and strike-continuity of oxide mineralisation and establish the north-striking dike-filled fault corridor as a control on mineralisation.
"Jasperoid Wash is emerging as a big system, thus far extending approximately 1,575m along a north-northeast strike by 650m wide east-west within a dike-filled fault corridor. … Initial grades may appear low but drilling to date is enabling us to unravel the features controlling higher grades, just as we have been doing successfully at our Pinion, Dark Star and Dixie discoveries. Once again, we are confirming Railroad-Pinion is not a patchwork of smaller deposits but rather a strong, district-scale system with remarkable continuity," said CEO Jonathan Awde.
Shares in Gold Standard (TSXV:GSV) closed down 1% on the day at C$1.62, valuing the company at $421 million. Its share price has fallen 5% since the start of the year.