Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) reported that complete assay results from the Yellowjacket vein system – now including silver numbers – demonstrate that the combined near surface, higher-grade, bulk tonnage, vein and stockwork zones are consistently 20-50 metres wide with average grades ranging from 1 to 7 g/t gold and 14 – 32 g/t silver.
As quoted in the press release:
Significantly, the higher silver grades in this area, which run between 3 to 15 times greater than the gold content, may have a beneficial effect on anticipated production costs when included in the updated North Bullfrog Preliminary Economic Assessment scheduled for Q1 2014.
Corvus has now confirmed the continuity of the Yellowjacket vein system over a strike length of 650 metres to a nominal depth of approximately 120 metres. A hole drilled late this season tested the system a further 50 metres down dip and intersected a broad zone of stockwork veining as well as an 8 metre thick banded vein at approximately 170 metres vertical depth with visible gold and silver (assays pending). This deeper intersection is encouraging for the possibility of extending the system at depth. The Yellowjacket system remains open to the north and has yet to be explored to the south.
Corvus Gold CEO Jeff Pontius said:
The broad intervals of shallow, higher-grade, bulk tonnage mineralization returned in these holes continue to build continuity and size for the Yellowjacket deposit. The more we see of this new discovery, the more possibilities emerge for discovery of a new, large Bullfrog type high-grade gold and silver system. With the recent encouraging deeper vein intersection, it appears we could be entering a new area of the system which may hold potential for higher grades and significant expansion of our North Bullfrog District scale discovery. The Corvus team is focused on analyzing these new results and will be launching a follow-up exploration program early next year to expand what is emerging as a major new, higher-grade, bulk tonnage, Nevada gold discovery.