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Corvus Gold Inc. (TSX:KOR)(OTCQX:CORVF) announces results from the 2011 winter drilling program at the LMS project near Delta Junction, Alaska. The company’s joint venture partner, First Star Resources Inc. (TSX VENTURE:FS) today advised that it completed 640 metres of drilling at the project and that the results include drill hole LM-11-40 which intercepted 21.2 metres grading 5.8 g/t gold and 12.6 g/t silver in the gold-bearing graphitic quartzite breccia, including 5.2 m grading 21.4 g/t gold and 33.5 g/t silver.
In March and April 2011, First Star drilled two NC core holes totaling 640 metres within the Camp Zone area of LMS. While drill hole LM-11-40 was successfully completed, LM-11-41 had to be abandoned due to technical difficulties. First Star is now continuing its LMS exploration program and has announced the commencement of a 5,000-metre Phase II diamond drilling program. Under a joint venture agreement with Raven Gold Alaska Inc., a subsidiary of Corvus, First Star has the right to earn an initial 55% interest in the LMS project by incurring US$3.5 million in exploration expenditures by December 31, 2013.
“We are very pleased with these results released by First Star today for their 2011 winter drilling program at LMS,” said Jeff Pontius, Chairman and CEO of Corvus. “These are clearly high-grade gold and silver grades over significant intercepts within the graphitic quartzite breccia and demonstrate the excellent potential of the Camp Zone area. We look forward to seeing the results of their further work on the project this summer.”
Read the full news release
