Edmonton, Alberta--(Newsfile Corp. - August 26, 2021) - Cortus Metals Inc. (TSXV: CRTS) (the "Company", or "Cortus") is pleased to announce the completion of a 59.3 line-kilometer high-resolution ground magnetics survey over the southern one-third of its 7,613 ha Grayson Project, where rock grab samples in silicified jasperoid yield highly anomalous gold concentrations of up to 647 ppb. This new data shows linear magnetic lows coincident with mapped structures and alteration, indicating these structures extend into the basin below shallow alluvial cover. The orientation and scale of these structures support these features as potential zones of structurally controlled, subsurface, hydrothermal fluid flow leading to epithermal alteration.
Cortus CEO Sean Mager commented, "Several large gold and silver deposits, including Relief Canyon, Coeur-Rochester, and Spring Valley are located within close proximity to the Grayson Project, where similar structures are coincident with anomalous mineralization and its associated alteration. We look forward to following up these magnetic survey and rock grab sample results with gravity and soil survey results to generate targets for near-term drilling at Grayson."
Figure 1. Orthophoto showing relative positions of the Grayson Project, the Relief Canyon Mine, and Mercury, Antimony, and Fluorite mines. Inset figure shows the well-defined correlation between major structures and the magnetic lows, which could be representative of alteration related to epithermal fluid flow and potential gold mineralization.
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Project Highlights
- Grayson features similar stratigraphic and structural controls as those controlling mineralization at the Relief Canyon Mine, 26 km northwest and along strike of the important Luning-Fencemaker thrust fault system. Relief Canyon reported in 2018 a gold resource of 789,000 oz Au measured and indicated, and 45,200 oz Au inferred*
- Grayson displays well-defined correlations between mapped structures, surface samples, and magnetic anomalies
- Antimony, mercury, and fluorite deposits are located along thrust faults in the adjacent range; these are common pathfinder elements, often present on the periphery of large gold deposits
- Rock grab samples in silicified jasperoid yield gold concentrations up to 647 ppb
- Assay results from ALS Global are pending for soil sampling over the target area
- Forthcoming results of a detailed gravity survey over the target area will help to determine bedrock depths
- The Grayson Project is available for acquisition, option, or joint venture.
*Reference-Technical Report and Feasibility Study for the Relief Canyon Project, Pershing County, Nevada, USA. Pershing Gold Corporation. July 6, 2018.
Next Steps
A detailed gravity survey is expected to define bedrock-depth and achievable drill targets. Results are also pending for multi-element assays of 737 soil samples processed by ALS Global. The ongoing 2021 fieldwork program will deepen our understanding of the stratigraphic and structural controls on mineralization at Grayson. The gravity and soil geochemical results will be used in support of the existing geological and geophysical data to generate well-defined drill targets for the 2021 exploration program. Drill permitting is in progress.
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
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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