Edmonton, Alberta--(Newsfile Corp. - August 24, 2021) - Cortus Metals Inc. (TSXV: CRTS) (the "Company", or "Cortus") is pleased to announce the combined results of recently completed, property-wide (>1,800 hectares) geochemical and gravimetric surveys at the Powerline project in Pershing County, Nevada, USA. Soil samples were collected systematically at 120 m spacing with 300 m line spacing over the entirety of the project. Ionic leach processing, a highly effective method for detecting geochemical elements in soils over alluvial cover, was used to analyze 61 elements in 505 soil samples, indicating anomalous gold zones and key gold pathfinder elements, including antimony, arsenic, silver and mercury. Rock chip samples yielded up to 84 ppb gold and 6490 ppb silver. The gravity data indicate shallow alluvial cover over bedrock along the property's western boundary, and identify achievable drill target locations.
Cortus CEO, Sean Mager commented, "The new geochemical data and gravity results, in addition to the previous mapping and ground magnetic survey, have generated several well-defined drill targets at Powerline and brought the project to the drill-ready stage. As several of our new projects in the basins of Nevada emerge with high-priority drill targets, we look forward to testing them over the next six months with significant drill programs of 2,000-4,000 metres."
Figure 1. Geochemical and gravimetric results at the Powerline Project defining drill target zone
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Project Highlights
- Highly analogous to Waterton's Spring Valley Deposit, sharing similar structural trends and altered lithologies, including Triassic rhyolites, siliciclastics, and carbonates in the Humboldt range. Spring Valley reported a measured and indicated resource of 2,160,000oz Au and inferred resource of 1,971,00oz Au in 20111
- The Powerline project is located 8 kilometers northeast of the Spring Valley gold deposit along a southwest extension of the Getchell Trend, which is a major northeast structural trend of deposits containing 19.4 Moz Au produced and 42.5 Moz Au endowment2
- Well-defined correlations between mapped structures, geochemical anomalies, and magnetic anomalies defining drill targets and strong potential for an epithermal deposit below the pediment
- Silver and antimony mines on the range that were formed in a northwest-trending corridor have been projected onto the pediment to intersect the main north-northeast fault through the major deposits. These elements are common pathfinders to gold mineralization, often peripheral to a central hydrothermal hot spot in large Nevada gold deposits
- Rock chip samples in silicified outcrop units yield anomalous gold and silver values up to 84 ppb gold and 6490 ppb silver
- A property-wide gravimetric survey determined relative bedrock depths under the pediment, indicating achievable drill target areas in the northern and western areas of the Powerline project
- Drill permitting for the Powerline project is in progress
- The Powerline Project is available for acquisition, option, or joint venture.
References
- Gustavson Associates NI43-101 Technical Report (May 2011)
- Total estimated gold endowment based on Muntean (PDAC, 2020)
Soil Analytical Procedures
Sample preparation was completed at the ALS Global facility in Elko, Nevada then sent for analysis at the ALS Global facility in Vancouver, British Columbia. Samples were prepared by disaggregating with a rubber hammer, then a non-biased 50g nominal soil sample was collected from the entire field sample; no drying or screening was used in this process. The Ionic Leach method was used to analyze samples for 61 elements. This procedure is defined by static sodium cyanide leach using ammonium chloride, citric acid and EDTA with the leachant buffered to an alkaline ph of 8.5. Soil samples were taken systematically at 120m sample spacing and 300m line spacing, covering the entirety of the project and a secure chain of custody procedure was maintained in storing and transporting samples.
About Cortus Metals Inc.
Cortus Metals Inc. (TSXV: CRTS) is a new Canadian mineral exploration company with a portfolio of highly prospective early-stage projects in Nevada and an innovative project accelerator strategy to advance them to fruition. Generally, the projects are located near operating mines or known deposits, and on the same hosting fault structure. Cortus' expert team uses systematic methods and proprietary data to target significant epithermal and Carlin-type mineralization beneath shallow cover. We provide investors with exceptional opportunities to capitalize on the potential to discover gold-silver deposits of >1-million-ounces in a perennially top-ranked mining jurisdiction. Our mandate is to collaborate with third parties to complete drill programs of 2,000-4,000 metres, with Cortus retaining a significant interest in the outcomes. Our projects are available for acquisition via sale, option and/or joint venture mechanisms.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
Cortus Metals Inc. is part of the Metals Group of Companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection, and uncompromising corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.
On behalf of the Board of Directors
s/ "Sean Mager"
Sean Mager, Chief Executive Officer
Email: seanm@cortusmetals.com
Telephone: +1.780.701.3215
Forward-Looking Information
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This News Release includes certain "forward-looking statements". Although the Company believes that assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. All statements, other than statements of historical fact, including without limitation, future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release. No assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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