Gold Standard Ventures Corp. (TSX: GSV; NYSE AMERICAN: GSV) (“Gold
Standard” or the “Company”) today reported the discovery of a new
high-grade oxide zone at the LT target on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend
(https://goldstandardv.com/site/assets/files/4357/lt-release-nov-2019-location-map.pdf).
Reverse-circulation hole LT19-02 intersected 12.2m of 1.58 g Au/t,
including 3.1m of 5.16 g Au/t. The drill
hole sits within a sizeable area exhibiting high-grade surface gold
in outcrop. LT is located approximately 3km north-northwest
of Gold Standard’s Pinion oxide gold reserve.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Our recent South Railroad PFS demonstrates a project
with robust operating margins. We continue to focus on
enhancing the project economics, extending the mine life through
the conversion of inferred ounces to reserves, and reducing the
up-front capital costs. With the PFS milestone behind us, we
are excited to be back exploring for new discoveries that could
complement our current resources and reserves. LT is one of a
handful of new opportunities that will now get the attention they
deserve.”
Key Highlights from LT:
- LT19-02 intersected 12.2m of 1.58 g Au/t, including
3.1m of 5.16 g Au/t. Mineralization is near surface
– beginning at approximately 23m below the current topographic
surface and is well-oxidized, with cyanide solubility assays
averaging 89%. These results confirm the discovery of
high-grade oxide gold in the LT area that is open in all directions
for additional drill testing.
- Gold mineralization is hosted in silicified, iron oxide bearing
breccia in the hanging wall of a north-striking quartz feldspar
porphyry dike. All of Gold Standard’s previous discoveries
(e.g. Dark Star, Pinion, North Bullion, Jasperoid Wash and Dixie)
are localized in dike-filled fault corridors, which are ideal
structural locations for the development of gold systems.
- The LT19-02 intercept is located approximately 185m north of
surface outcrops that returned assay values ranging from <0.005
to 12.90 g Au/t from over a 400m by 200m area (see October 11, 2018
news release). At this location, eight surface samples
returned values exceeding 1.0 g Au/t, with four samples ranging
from 4.50 g Au/t to 12.90 g Au/t. Gold mineralization is
hosted in decalcified, silicified and oxidized multilithic breccia
proximal to a north-striking igneous dike. Drilling has not
yet tested the area of +1 g Au/t in surface
outcrops.(https://goldstandardv.com/site/assets/files/4357/lt-map.pdf).
- LT is a high value target that will receive exploration focus
in 2020.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
LT19-01 |
RC |
090 |
-45 |
141.7 |
Drill hole lost before testing target - not assayed |
LT19-02 |
RC |
090 |
-45 |
274.3 |
10.6-13.7 |
3.1 |
0.34 |
|
|
|
|
|
32.0-44.2 |
12.2 |
1.58 |
|
|
|
|
Including |
36.5-39.6 |
3.1 |
5.16 |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide
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: “The LT target is proximal to the recent reserves
announced in the Gold Standard South Railroad PFS (see October 24,
2019 news release). Additional work is required on the
target, but the potential to add to the current inventory of
resources and reserves on the project based on oxidation, grade and
distance to Pinion, is good.”
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. 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 Pinion and Dark Star has created
potential near-term development option and further consolidates the
Company’s premier land package on the Carlin Trend.
Pinion has a resource estimate prepared in
accordance with NI 43-101 consisting of an Measured and Indicated
Mineral Resource of 28.93 million tonnes grading 0.58 g/t Au and
4.22 g/t Ag, totaling 544,000 ounces of gold and 3,929,000 ounces
of silver, and an Inferred Resource of 10.81 million tonnes grading
0.64 g/t Au and 3.80 g/t Ag, totaling 224,000 ounces of gold and
1,322,000 ounces of silver, using a cut-off grade of 0.14 g/t Au
and constrained by a $1,500/Au ounce LG Cone.
The Dark Star deposit has a resource estimate
prepared in accordance with NI 43-101 consisting of a Measured and
Indicated Mineral Resource of 32.72 million tonnes grading 0.88 g/t
Au, totaling 921,000 ounces of gold and an Inferred Resource of
2.48 million tonnes grading 0.70 g/t Au, totaling 56,000 ounces of
gold, using a cut-off grade of 0.14 g Au/t and constrained by a
$1,500/Au ounce LG Cone.
North Bullion 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.
Jasperoid Wash has a resource estimate prepared
in accordance with NI 43-101 consisting of an Inferred Resource of
10.57 million tonnes grading 0.33 g/t Au, totaling 111,000 ounces
of gold, using a cut-off grade of 0.14 g Au/t and constrained by a
$1,500/Au ounces LG Cone.
Neither the Toronto Stock Exchange 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 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 ESTIMATES
All 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 PresidentTel:
604-669-5702Website: www.goldstandardv.com
Email: info@goldstandardv.com
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