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Corvus sees new scope at Mother Lode

Corvus Gold (TSX: KOR) says step-out drilling at its Mother Lode project in Nevada has identified a deep target which has the potential “to significantly change the scope” of the deposit.
Corvus sees new scope at Mother Lode Corvus sees new scope at Mother Lode Corvus sees new scope at Mother Lode Corvus sees new scope at Mother Lode Corvus sees new scope at Mother Lode

Corvus is cashed up to keep drilling

Staff reporter

Among the highlights, Corvus hit 18.3m at 4.02g/t gold from 298.7m, saying the drill hole intersected the Main Zone in the western-most hole reported to date.

The company said the above hole together with another 70m northeast showed increasing grade as Corvus drilled to the west and outlined a new high-grade centre to the deposit.

"This expanding high-grade centre appears to [be] the primary feeder structure for the Mother Lode deposit and has potential at depth to transition into a larger deposit," president and CEO Jeff Pontius said.

Phase two drilling will continue until August and the company is planning a new, 30,000m phase three programme to start in September, funded thanks to a C$4.5 million (US$3.47 million) placement with "a strategic investor" that closed earlier this month.

The company had reported working capital of about C$4.6 million (US$3.54 million) at the end of February.

Corvus intends to release a maiden resource for Mother Lode in the third quarter and a combined North Bullfrog/Mother Lode preliminary economic assessment before the end of the year.

Its shares, which were trading at C82c a year ago, rose about 3% yesterday to close at $2.60.

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