The most recent assays from follow-up drilling at Cat Hill identified new vein-stockwork gold, including a highlight intercept of 21.3m grading 1.02 grams per tonne, and within that, 4.57m at 2.47g/t.
The results confirmed a north-south trend for the shallow vein system mineralisation with improving grades along strike, the company said. The system is said to remain open in all directions and Corvus believes it may have potential to develop into another YellowJacket or Bullfrog vein/stockwork deposit.
Cat Hill lies along the main northwest, North Bullfrog Deposit trend which parallels the main regional-scale Walker Lane Structural Belt and links up with Corvus' eastern target area and AngloGold's new Silicon discovery.
The company also received further positive step-out drill results from the western expansion of the Sierra Blanca deposit, which continues to grow and provide further potential to expand the phase-one North Bullfrog development plan.
Corvus plans to wrap the latest results results from this area into a new resource model for Sierra Blanca/YellowJacket and the first-phase mine plan, scheduled for release in 2020.
Corvus also reported encouraging results from the northern extension of the Jolly Jane deposit.
Initial results showed potential for a large new gold system in what the company believes to match the scale of the Sierra Blanca deposit with potential for a high-grade vein system.
"Cat Hill is Corvus' latest new discovery of a new gold system outside of an existing deposit since the Mother Lode discovery in 2018," said CEO Jeffrey Pontius. "Corvus is well positioned to develop the core of this emerging world-class gold district, which has now attracted the attention of three major mining companies."
Corvus said it would be expanding its drill programmes to grow the already sizeable resource base, define new discoveries and expand the deep potential of the Mother Lode system.
"This exploration push plays in concert with new discoveries by neighbouring companies and increases the potential for future district consolidation."
Corvus shares trading in Toronto (TSX:KOR) are down by one-third over the past 12 months at C$1.97, having traded in a band between $1.55-$3.05 during the period. It has a market cap of $244 million.
