UPDATE: Corvus Gold Down 2% Despite Nevada Deposit Drill Results, Says Silver Tests "Encouraging"

Corvus Gold (KOR.TO) announces "encouraging" silver tests from Yellow Jacket deposit in North Bullfrog, Nevada and said the gold deposit may be amenable to low-cost open pit mining.

The results from 22 composites throughout the currently defined high-grade area averaged recoveries of 86% for gold and 77% for silver with very low cyanide and lime consumption for material averaging 3.0 g/t gold and 29.0 g/t silver.

The company will update its economic assessment in late 2013 incorporating the results from the current drill program, new metallurgical data and past results from the Yellow Jacket zone.

The silver recoveries from the Yellow Jacket zone are significantly higher than the 8% average recovery found at the other zones of the North Bullfrog project.

KOR was down about 2% to 53 cents, slightly above 52-week low 51 cents.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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