Gold Standard Ventures Announces 2021 Exploration and Development Program
May 20 2021 - 8:00AM
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) (“Gold
Standard” or the “Company”) today announced plans for the 2021
exploration and development program on its vast land package in
Nevada’s Carlin Trend. The program includes approximately 7,880
meters of reverse-circulation (“RC”) and core drilling over 46
holes. Drilling is anticipated to start in May 2021.
(https://goldstandardv.com/site/assets/files/4499/2021_exploration_and_development_program.pdf)
Exploration Focus Areas:
- Pinion
SB Zone: 7 RC drill holes (approximately 2,350 meters) to
further develop oxide mineralization at the SB Zone target.
Previously released intercepts at SB Zone include: PR20-26 (77.7m
of 2.24 g Au/t), PR20-30 (50.3m of 1.04 g Au/t), PC20-22 (61.1m of
1.07 g Au/t) (see November 12, 2020 and April 15, 2021 releases for
further details), and historical hole PIN14-38 (57.9m of 1.01 g
Au/t); the deposit remain open to the south and east in this target
zone.
- Dark
Star: 30 RC and core drill holes (approximately 3,900
meters) to define the limits of near-surface oxide mineralization
at Dark Star Main, convert Inferred resources within the mine plan
boundary to Measured or Indicated resources, and complete
metallurgical core holes for test work in support of future mining
and processing.
- LT: 5 RC drill
holes (approximately 580 meters) will continue to test for gold
mineralization along the LT Fault, to the north of LT20-01 (24.3m
of 0.73 g Au/t) and LT20-08 (30.5m of 0.78 g Au/t) (see October 29,
2020 news release for further details) and structural and
stratigraphic targets centered around surface channel sampling
conducted in 2020. Three-meter surface channel sampling highlighted
57m of 0.61 g Au/t centered around LT20-01 and the LT-Tesla Fault
intersection. Additionally, surface sampling to the south
identified 18m of 4.84 g Au/t along the Lotus-LT Fault
intersection. Sampling, mapping, and drilling has identified a zone
approximately 200 meters long associated with the LT Fault and
structural intersections with the northeast striking Tesla and
Lotus faults. The mineralization remains open to the north, south,
west, and at depth.
Jason Attew, President and CEO, commented, “We
are excited to initiate our 2021 drilling program. The focus of
this year’s program is to test for extensions to both Pinion and
Dark Star with the goal of enhancing the size of the pits and
further extending the project life. Additionally, we will test the
highly prospective LT zone which is near Pinion and Dark Star and
has the potential to develop into a satellite pit in the future.
Any success from this 2021 exploration program is distinct from and
incremental to the upcoming South Railroad Project Feasibility
Study.”
Other Exploration & Development Work:
- Pinion: 4 RC
drill holes (approximately 1,050 meters) to advance metallurgical
and hydrology test work and support mine start-up.
- South Dome: Exploration will focus
on compiling results from the soil survey (2,700 samples) and
geologic mapping completed in 2020. Work to date has identified a
domal feature within Pinion stratigraphy that has elevated gold,
silver, arsenic and mercury in soils. The goal is to advance the
project to a drill decision by the end of year.
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance
All Gold Standard sampling was conducted under
the supervision of the Company’s senior geologists and the chain of
custody from the project to the sample preparation facility was
continuously monitored. A blank, certified reference material, or
rig duplicate was inserted approximately every tenth sample.
Samples were delivered to Bureau Veritas Mineral Laboratories
preparation facility in either Sparks, NV or Hermosillo, Mexico
where they were crushed and pulverized. Resulting sample pulps were
digested and analyzed for gold using fire assay fusion and an
atomic absorption spectroscopy (AAS) finish on a 30-gram split.
Over limit gold assays were determined using a fire assay fusion
with a gravimetric finish on a 30-gram split. All other elements
were determined by ICP in Vancouver, B.C. Data verification of the
analytical results included a statistical analysis of the standards
and blanks that must pass certain parameters for acceptance to
insure accurate and verifiable results.
Drill hole deviation was measured by gyroscopic
down hole surveys that were completed on all holes by International
Directional Services of Elko, NV. Final drill collar locations are
surveyed by differential GPS by Apex Surveying, LLC of Spring
Creek, Nevada.
All third party laboratories and service
providers used or retained in the analysis of the samples are
independent of Gold Standard.
Qualified Persons
Richard Yancey, Geology Manager, is the
Company’s Qualified Person (QP) as defined by National Instrument
43-101 and has reviewed and approved the technical contents of this
news release.
About Gold Standard
Gold Standard is developing the South Railroad
Project, an open pit, heap leach gold project located in Elko
County, Nevada. The project is part of a +21,000 hectare land
package on the Carlin Trend, and is 100% owned or controlled by
Gold Standard. The goal of the Company is to become the low-cost
junior producer of choice in Nevada, one of the premier mining
jurisdictions in the world.
Cautionary Note Regarding
Forward-Looking Statements
This news release contains forward-looking
statements, which relate to future events or future performance.
All statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
potential for LT to be a satellite pit to the South Railroad
Project (“SRP”); the ability of the Company to increase the
resource base at Dark Star and Pinion; the nature and extent of
mineralization at the Pinion and Dark Star deposits; the Company’s
future exploration plans and objectives; the expected size and
dimensions of the planned pits and area of demonstrated mineral
resources of the SRP; and about the potential financing and
construction of the SRP. Such forward-looking statements reflect
management’s current beliefs and are based on assumptions made by
and information currently available to the Company, including that
LT will become a satellite pit to the SRP; that the Company will be
successful in increasing the resource base at Dark Star and Pinion;
that the pit and the area of demonstrated mineral resources at SRP
will conform to that set out in the preliminary feasibility study
for SRP; and that the Company will be successful in the financing
and construction of the SRP. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. These risks,
uncertainties and other factors include, among others: that LT will
not become a satellite pit to the SRP; that the Company may not
successfully increase the resource base at Dark Star and Pinion;
that the pit and the area of demonstrated mineral resources at SRP
will be different than that set out in the Preliminary Feasibility
Study for SRP, as a result of the Company’s Feasibility Study or
otherwise; that the Company may not be successful in financing and
constructing the SRP; that the SRP may never be placed into
production; global financial conditions and volatility of capital
markets, uncertainty regarding the availability of additional
capital, fluctuations in commodity prices; title matters; and the
additional risks identified in our filings with Canadian securities
regulators on SEDAR in Canada (available at www.sedar.com) and with
the SEC on EDGAR (available at www.sec.gov/edgar.shtml). These
forward-looking statements are made as of the date hereof and,
except as required under applicable securities legislation, the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances.
For further information
contact:Michael McDonaldVice President, Corporate
Development & Investor RelationsPhone: 1-604-687-2766E-Mail:
info@goldstandardv.com
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