The meaning and implications of recent positive assays for this Nevada company are explained in this ROTH Capital Partners report.
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In a March 25 research note, analyst Joe Reagor reported ROTH Capital Partners raised its target price on Corvus Gold Inc. (KOR:TSX) to CA$5 per share from CA$4.50, versus CA$2.06, the current share price.
The raise came after the gold explorer and developer released additional strong results from its Mother Lode deposit in Nevada, the succession of positive assays suggesting the company could be "outlining the beginning of an underground high-grade extension," Reagor wrote. "We also believe continued drilling can lead to further resource expansion."
The most recent Mother Lode findings were from three holes, the analyst explained. One, ML19-104, intersected 126.49m of 1.85 g/t gold and, also, near its bottom, hit three intervals of mineralization with a thickness of greater than 10m and a gold grade higher than 4 g/t.
Reagor highlighted that Corvus keeps expanding Mother Lode to the northwest and as such, "is poised to demonstrate a significant resource estimate increase."
"We also believe that a significant resource expansion should drive significant improvements in project economics," Reagor added.
ROTH reiterated its Buy rating on Corvus Gold.