The Conversation (0)
Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) filed an independent NI-43-101 technical report on the new resource calculation for its 100% owned North Bullfrog Project in Nevada. The entire project Mineral Resource estimate has been updated in the independent technical report, and the WhittleTM pit optimization process was used to roughly indicate what portions of the mineralization inventory might have reasonable prospects for economic extraction by open pit mining.
As quoted in the press release:
In comparison to the estimated resource at 0.3 g/t Au cut-off grade announced on February 25, 2014 (NR14-07), the Table 1 Yellowjacket Indicated Mineral Resource has 6% higher Au grade and 2% less contained gold and the Inferred Mineral Resource has 34% higher grade and 30% less contained gold. The Table 1 Disseminated Indicated Mineral Resource at 0.1 g/t has 12% higher grade and 22% less contained gold, and the change in Inferred Mineral Resource is 6% higher grade and 17% less contained gold. The differences arise from the use by the Company of a more rigorous approach to determining reasonable prospects for economic extraction, which has resulted in an estimated mineral resource that the Company believes better reflects the potential of the North Bullfrog Project compared to the less constrained method utilized in the past. The Company believes that the parameters used in the WhittleTM pit optimization process (Table 2) are realistic and reasonable based on comparisons with similar projects in the area.
Corvus Gold CEO, Jeff Pontius, said:
The new initial Yellowjacket resource linked with our ongoing exploration success on new high-grade vein system discoveries indicates that there is significant potential to grow this deposit. Our initial drilling focus remains on the continued expansion of the Yellowjacket Deposit along strike and at depth as well as other new parallel and internal systems like the West Vein. In addition, we plan to drill other new, large untested systems to the west of Yellowjacket and in the District as a whole in the coming months with the aim of further unlocking the potential of this new Nevada high-grade gold-silver discovery.
Click here to read the Corvus Gold Inc. (TSX:KOR) press release
Click here to see the Corvus Gold Inc. (TSX:KOR) profile.