Cortus Metals (CRTS) has identified Carlin-type gold deposits at its Whalen Project in Nevada.
According to the press release, the company has completed a 193 line-kilometre high-resolution RMI-RTP ground magnetic survey over the entire project, which is located roughly 45 kilometres southwest of Gold Standard Venture's Carlin-type Pinion and Dark Star gold deposits in Eureka County.
The company said it has mapped faults that coincide with a distinct northeast structural trend identified by the survey.
The Whalen Project is along trend from the Dark Star deposit which has a resource of 921,000 ounces of gold, measured and indicated and 56,000 ounces of gold, inferred.
Meanwhile, the Pinion Deposit has a resource of 544,000 ounces of gold, measured and indicated, and 244,000 ounces of gold, inferred.
“Like the rest of our project portfolio, exploration results at Whalen clearly demonstrate the ability of our team to identify areas under shallow cover with excellent potential for significant discoveries in the basins of Nevada that are proximal to existing mines and known deposits in the ranges," Sean Mager, CEO of Cortus, said in a press release.
"Our methodology is leading to the systematic definition of drill targets at multiple locations. Cortus and its partners are well-positioned for continued success."
Moving forward, the company anticipates bringing the Whalen project to the drill-ready stage. The program will define stratigraphic and structural controls on mineralization through a property-wide 82.7 line kilometre soil sampling survey.
The company said the program is expected to be finished sometime during the fall.
Shares of Cortus Metals are down 11.76 per cent to C$0.15 as of 10:08 a.m. EDT.