Vancouver-based Corvus Gold (TSE:KOR) said on Thursday that 128 surface grab and chip samples averaged a high of 35.4 grams per tonne at its joint venture Chisna project, in Alaska.
The gold explorer said 1,350 meters of diamond drilling from seven of 17 planned holes have been completed, with a second rig now mobilized at the Golden Range to follow up on the encouraging initial results.
The 232,000-acre property, situated in south-central Alaska, is a joint venture between Corvus and Ocean Park Ventures. As operator, Ocean Park could earn a 51% stake in the property if it spends $20 million in exploration costs inside five years.
According to results 128 surface samples at the Golden Range Target averaged 2.48 grams per tonne (g/t) with a high of 35.4 g/t of gold.
In total, 897 grab and chip samples assay results have been received from the 2011 surface sampling program at the property.
Of these samples, gold mineralization has been prevalent with 152 of the 897 samples returning more than 1.0 g/t of gold and 34 samples returning gold greater than 10 g/t.
Drilling, geological mapping and geochemical sampling continue at this target area, with several new drill targets being developed, the company said.
Gold mineralization at the Golden Range target is hosted in sheeted, silicified and sulphide-bearing vein systems with thickness from 10 centimetres to over 20 meters.
Corvus Gold is a resource exploration company focused in Alaska and Nevada and controls many early-stage to advanced gold projects.
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