Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported more oxide gold results from 30 reverse-circulation
(“RC”) infill and stepout holes at the Dark Star deposit on its
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend. With this news release, results have now been reported for
67 of the 70 RC holes completed in the Dark Star 2019 Phase 1
drilling program.
In the northern portion of the deposit, two
stepout holes confirm extensions to thick zones of oxide
mineralization identified during the 2018 infill program.
DR19-26 intersected 51.8m of 1.07 g Au/t, including 16.8m
of 2.58 g Au/t; and DR19-15 intersected 22.9m of 1.92 g
Au/t, including 13.7m of 3.04 g Au/t (refer to the
Dark Star drill hole plan map at the following link
https://goldstandardv.com/drill-maps/march-26-2019-drill-map/).
In the southern portion of the deposit, nine infill and step
out holes intersected thick intervals of oxide mineralization that
begin at the current topographic surface. In both locations,
oxide mineralization remains open for resource expansion.
In the 2019 Phase 1 program, 10,503m of drilling
have been completed in 70 RC holes. These holes are testing new
targets at depth below the current resource model, and lateral
resource expansion opportunities adjacent to the current Dark Star
resource. The 2019 program will also infill the current
resource to approximately 30m drill spacings for conversion to
measured and indicated classification.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Our exploration success at Railroad-Pinion over the
past five years has made it one of the largest undeveloped oxide
gold resources in Nevada. The Preliminary Feasibility Study now in
progress has the goal to demonstrate that our project is amongst
the best potential new Nevada oxide, heap leach projects outside
the Barrick-Newmont Joint Venture. Drilling to date has focused on
upgrading the shallow oxide resource and extending it laterally but
new drilling will now focus on deeper, reduced mineralization
characteristic of the large, higher grade deposits on the Carlin
Trend.”
Key Highlights from Dark
Star:
- In the northern portion of the deposit, two stepout holes
intersected thick zones of oxide mineralization including:
22.9m of 1.92 g Au/t, including 13.7m of 3.04 g
Au/t in DR19-15; and 51.8m of 1.07 g Au/t, including
16.8m of 2.58 g Au/t in DR19-26. These holes
extend oxide mineralization approximately 50m north of DR18-110,
which intersected 109.7m of 1.00 g Au/t including 24.4m of
2.05 g Au/t (see November 15, 2018 news release).
Mineralization remains open to the north and northwest for resource
expansion.
- In the southeastern portion of the deposit, nine infill and
stepout holes (DR19-49, -55, -57, -58, -59, -64, -65, -70, -71)
intersected thick intervals of oxide mineralization that begin at
or near the current topographic surface. Drill intercepts
either confirm or exceed the current resource block model for grade
and thickness. Significant intercepts include: 88.4m of 0.61
g Au/t in DR19-57; 54.9m of 0.85 g Au/t, including 13.7m of
2.06 g Au/t in DR19-58; 39.6m of 1.25 g Au/t,
including 15.2m of 2.02 g Au/t in DR19-65; 33.5m
of 0.70 g Au/t, including 6.1m of 1.25 g Au/t in
DR19-70; and 62.5m of 0.86 g Au/t, including 18.3m of 1.38
g Au/t in DR19-71. Mineralization remains open to
the east and south for resource expansion.
- In the central portion of the deposit, infill holes DR19-01,
-06, -60 and -62 indicate that oxide mineralization is more
continuous then previously modeled along the northwest-striking
Saddle Fault. Additional infill and stepout drilling will be
required in this portion of the resource.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR19-01 |
RC |
|
-90 |
205.7 |
100.6-120.4 |
19.8 |
0.22 |
|
125.0-137.2 |
12.2 |
0.28 |
DR19-06 |
RC |
|
-90 |
201.2 |
74.7-89.9 |
15.2 |
0.21 |
|
140.2-152.4 |
12.2 |
0.36 |
DR19-11 |
RC |
90 |
-70 |
400.8 |
186.0-202.7 |
16.7 |
0.14 |
|
269.8-275.9 |
6.1 |
0.41 |
DR19-12 |
RC |
|
-90 |
364.2 |
1.5-7.6 |
6.1 |
0.15 |
|
97.6-126.6 |
29.0 |
0.25 |
DR19-13 |
RC |
|
-90 |
160.0 |
No significant results |
DR19-14 |
RC |
|
-90 |
175.3 |
45.7-47.2 |
1.5 |
0.27 |
DR19-15 |
RC |
|
-90 |
288.0 |
135.7-150.9 |
15.2 |
0.61 |
Including |
181.4-208.8 |
27.4 |
0.29 |
230.2-253.1 |
22.9 |
1.92 |
234.8-248.5 |
13.7 |
3.04 |
DR19-26 |
RC |
|
-90 |
333.8 |
111.3-157.0 |
45.7 |
0.45 |
Including |
201.2-253.0 |
51.8 |
1.07 |
222.5-239.3 |
16.8 |
2.58 |
DR19-27 |
RC |
|
-90 |
300.2 |
No significant results |
DR19-28 |
RC |
|
-90 |
292.6 |
No significant results |
DR19-29 |
RC |
|
-90 |
323.1 |
No significant results |
DR19-35 |
RC |
|
-90 |
97.5 |
16.8-61.0 |
44.2 |
0.44 |
Including |
51.8-59.4 |
7.6 |
1.38 |
68.6-80.8 |
12.2 |
0.68 |
DR19-41 |
RC |
|
-90 |
89.9 |
No significant results |
DR19-49 |
RC |
|
-90 |
61.0 |
0-30.5 |
30.5 |
0.40 |
DR19-53 |
RC |
90 |
-82 |
105.2 |
19.8-36.6 |
16.8 |
0.37 |
DR19-54 |
RC |
270 |
-85 |
147.8 |
32.0-45.7 |
13.7 |
0.19 |
DR19-55 |
RC |
|
-90 |
51.8 |
0-32.0 |
32.0 |
0.48 |
DR19-56 |
RC |
|
-90 |
42.7 |
3.1-10.7 |
7.6 |
1.01 |
DR19-57 |
RC |
71 |
-70 |
135.6 |
0-88.4 |
88.4 |
0.61 |
DR19-58 |
RC |
|
-90 |
172.2 |
7.6-38.1 |
30.5 |
0.30 |
Including |
54.9-109.8 |
54.9 |
0.85 |
73.2-86.9 |
13.7 |
2.06 |
DR19-59 |
RC |
|
-90 |
85.3 |
0-70.1 |
70.1 |
0.47 |
DR19-60 |
RC |
|
-90 |
45.7 |
0-22.9 |
22.9 |
0.28 |
DR19-61 |
RC |
|
-90 |
106.7 |
0-3.1 |
3.1 |
0.21 |
DR19-62 |
RC |
|
-90 |
76.2 |
16.8-32.0 |
15.2 |
0.20 |
|
44.2-67.1 |
22.9 |
0.32 |
DR19-63 |
RC |
|
-90 |
91.4 |
4.6-10.7 |
6.1 |
0.15 |
DR19-64 |
RC |
|
-90 |
68.6 |
0-32.0 |
32.0 |
0.52 |
Including |
0-4.6 |
4.6 |
1.74 |
DR19-65 |
RC |
|
-90 |
56.4 |
0-39.6 |
39.6 |
1.25 |
Including |
4.6-19.8 |
15.2 |
2.02 |
DR19-70 |
RC |
|
-90 |
65.5 |
0-33.5 |
33.5 |
0.70 |
IncludingIncluding |
1.5-7.6 |
6.1 |
1.25 |
22.9-29.0 |
6.1 |
1.24 |
DR19-71 |
RC |
|
-90 |
79.2 |
0-62.5 |
62.5 |
0.86 |
IncludingIncluding |
10.7-18.3 |
7.6 |
1.21 |
25.9-44.2 |
18.3 |
1.38 |
62.5-65.6 |
6.1 |
0.22 |
DR19-72 |
RC |
|
-90 |
336.8 |
No significant results |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide mineralization and
a 1.0 g Au/t cutoff for reduced mineralization. Weighted
averaging has been used to calculate all reported intervals.
True widths are estimated at 70-90% of drilled thicknesses.
Don Harris, Gold Standard’s General Manager
commented: “Concurrent with the drill program, GSV continues to
progress through engineering, metallurgical, permitting, and
economic studies required to put the project into potential
production. At present the South Railroad project (Dark Star
and Pinion combined) is an exciting mix of assay results, site
plans, pad designs, and power requirements that continue to move
GSV down the development path for this
project.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance All sampling
was conducted under the supervision of the Company’s project
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. The samples were delivered
to Bureau Veritas Mineral Laboratories preparation facility in
Elko, NV where they were crushed and pulverized. Resulting
sample pulps were shipped to Bureau Veritas certified laboratory in
Sparks, NV or Vancouver, BC. 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 analysis. 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.
The scientific and technical content contained
in this news release have been reviewed, verified and approved by
Steven R. Koehler, Gold Standard’s Manager of Projects, BSc.
Geology and CPG-10216, a Qualified Person as defined by NI 43-101,
Standards of Disclosure for Mineral Projects.
ABOUT GOLD STANDARD VENTURES –
Gold Standard is an advanced stage gold exploration company focused
on district scale discoveries on its Railroad-Pinion Project,
located within the prolific Carlin Trend. Gold Standard’s
successful exploration of the Pinion and Dark Star gold deposits
has created potential near-term development option and further
consolidates the Company’s premier land package on the Carlin
Trend.
The Pinion deposit has a resource estimate
prepared in accordance with NI 43-101 consisting of an Indicated
Mineral Resource of 31.61 million tonnes grading 0.62 g/t Au,
totaling 630,300 ounces of gold and an Inferred Resource of 61.08
million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of
gold, using a cut-off grade of 0.14 g/t Au. This resource will be
re-estimated this year to include drill results from 2018.
The Dark Star deposit, 2.1 km to the east of
Pinion, has a resource estimate prepared in accordance with NI
43-101 consisting of an Indicated Mineral Resource of 15.38 million
tonnes grading 0.54 g/t Au, totaling 265,100 ounces of gold and an
Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au,
totaling 715,800 ounces of gold, using a cut-off grade of 0.2 g
Au/t. This resource will also be re-estimated this year to include
highly favourable 2018 drill results.
The North Bullion deposit, 7 km to the north of
Pinion, has a resource estimate prepared in accordance with NI
43-101 consisting of an Indicated Mineral Resource of 2.92 million
tonnes grading 0.96 g/t Au, totaling 90,100 ounces of gold and an
Inferred Resource of 10.97 million tonnes grading 2.28 g/t Au,
totaling 805,800 ounces of gold, using a cut-off grade of 0.14 g
Au/t for near surface oxide and 1.25 to 2.25 g Au/t for near
surface sulfide and underground sulfide respectively.
Neither the TSX nor its regulation services
provider nor the NYSE AMERICAN Exchange accepts responsibility for
the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS This news release contains
forward-looking statements, which relate to future events or future
performance and reflect management’s current expectations and
assumptions. Such forward-looking statements reflect management’s
current beliefs and are based on assumptions made by and
information currently available to the Company. All statements,
other than statements of historical fact, included herein
including, without limitation, statements about our potential near
term development option, expansion and re-estimation of mineral
resource estimates, the preliminary feasibility study we have
commenced work on, and statements regarding potential production
are forward looking statements. 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. Risk factors
affecting the Company include, among others: the results from our
exploration programs, 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.
CAUTIONARY NOTE FOR U.S. INVESTORS
REGARDING RESERVE AND RESOURCE ESTIMATESAll resource
estimates reported by the Company were calculated in accordance
with the Canadian National Instrument 43-101 and the Canadian
Institute of Mining and Metallurgy Classification system. These
standards differ significantly from the requirements of the U.S.
Securities and Exchange Commission for descriptions of mineral
properties in SEC Industry Guide 7 under Regulation S-K of the U.
S. Securities Act of 1933. In particular, under U. S. standards,
mineral resources may not be classified as a “reserve” unless the
determination has been made that mineralization could be
economically and legally produced or extracted at the time the
reserve determination is made. Accordingly, information in
this press release containing descriptions of the Company’s mineral
properties may not be comparable to similar information made public
by US public reporting companies.On behalf of the Board of
Directors of Gold Standard,“Jonathan Awde”Jonathan Awde, President
and DirectorFOR FURTHER INFORMATION PLEASE CONTACT: Jonathan Awde
President Tel: 604-669-5702 Email:
info@goldstandardv.com Website: www.goldstandardv.com
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