Edmonton, Alberta--(Newsfile Corp. - August 31, 2021) - Cortus Metals Inc. (TSXV: CRTS) (the "Company", or "Cortus") is pleased to announce field work results including soil and rock-grab sampling programs and a ground magnetic survey at the Goldrun project in Humbolt County, Nevada, USA. Key prospective areas of the project were tested, with 178 soil samples being collected at 60m spacing. Samples were analyzed using the Ionic Leach method, a proven technique for detecting buried precious metal mineralization. Multi-element analysis revealed anomalous zones of gold as well as important pathfinder element anomalies such as arsenic, antimony, mercury and copper. Additionally, 17 rock-grab samples were collected with peak assay values of >4,000 ppb gold and >29,000 ppb silver in sulphide rich-quartz veins. A high-resolution ground magnetic survey totalling 18.5 km2 was also completed, covering the majority of the Goldrun project and indicating a potential NE-trending intrusion that could be spatially related to a gold-copper deposit similar to Nevada Gold Mine's Phoenix deposits. Coincident geochemical and geophysical anomalies indicate several prospective target zones within the Goldrun project (see figure 1).
Figure 1. Orthophoto and magnetics showing relative positions of the Goldrun Project, the Phoenix Deposits, and the Getchell and Battle-Mountain Eureka Trends.
To view an enhanced version of figure 1, please visit:
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Cortus CEO, Sean Mager commented, "The Goldrun Project features a large magnetic high, interpreted as an intrusive body, highlighted by anomalous soil samples and high-grade gold anomalies in rock-grab samples. With these results, the Cortus team is developing two types of targets at Goldrun: a copper-gold skarn deposit similar to Nevada Mines Phoenix Deposits and a Carlin-type gold deposit (see figure 1).
Project Highlights
- The Goldrun project is situated 40km northwest of Nevada Gold Mine's Phoenix deposits, which have reported reserves of 4,300,000oz of gold and 1,260 million pounds of copper (December 2016)1
- The project is located at or near the intersection of the Getchell Trend (19.4 Moz gold produced, 42.5 Moz gold endowment2) and the Battle Mountain-Eureka Trend (26.1 Moz gold produced, 48.7 Moz gold endowment2) surrounded by numerous historical and operating gold +/- copper mines
- The Goldrun project comprises 2,037 hectares (ha) of 152 recorded unpatented Federal Lode Claims owned 100% by Cortus and 92 claims owned 50% by Cortus
- In-soil gold anomalies coincide with common pathfinder elements in Nevada Carlin-type deposits including arsenic, mercury and antimony
- Identified two types of targets present on the Goldrun Project: a copper-gold skarn deposit similar to Nevada Mines Phoenix Deposits and a Carlin-type gold deposit (see figure 1)
- Target zones are defined by mapped structures, magnetic anomalies, and geochemical results
- The Goldrun Project is available for acquisition, option, or joint venture
References:
1.Newmont Corporation - Operations & Projects - Global Presence - North America - Nevada - U.S.
2.Muntean (PDAC, 2020)
Next Steps
The proposed 2021 exploration program is nearing the drill-ready stage; exploration plans include a systematic east-west soil sample grid to cover the entirety of the project and a detailed gravity survey to define relative depths to bedrock. The new geochemical and gravity data will strengthen the understanding of mineralization and structural controls on the project and be an asset in determination of drill targets.
Soil Geochemical Procedures
Sample preparation and analyses were completed by ALS Global in Elko, Nevada. Samples were prepared by disaggregating with a rubber hammer then a non-biased 50g nominal soil sample was collected from entire field sample with no drying or screening. 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 at 60m intervals 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' team of experts 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.
On behalf of the Board of Directors,
s/ "Sean Mager"
Sean Mager, Chief Executive Officer
Email: seanm@cortusmetals.com
Telephone: +1.780.701.3215
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.
Forward-Looking Information
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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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