Gold Standard Ventures Corp. (TSX:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company) today announced
results from 11 of 19 completed reverse-circulation (RC) and
core holes at the Pinion oxide gold deposit on its
100%-owned/controlled Railroad Project in Nevada’s Carlin Trend
(please go to the following link -
https://goldstandardv.com/lp/Pinion-nov2017-drill-maps/).
These drill holes are a portion of Gold Standard’s 2017 US$15.5
million program which includes up to 48,800 m of RC and core
drilling in 117 holes (see February 2, 2017 news release).
The Pinion drilling was designed to (1) upgrade
and potentially add to resources by reducing drill spacing in
critical portions of the deposit and (2) expand drill coverage near
the margins of the current pit design for possible resource
additions.
All 11 drill holes intersected oxidized and
altered multi-lithic dissolution collapse breccia (mlbx), the
principal Pinion host rock, and seven of the holes returned
significant, higher-grade intercepts greater than one gram per
tonne. Results include 56.4m of 1.68 g Au/t in
PIN17-02, 42.7m of 1.23 g Au/t in PIN17-10,
15.2m of 1.66 g Au/t in PIN17-04 and 32.0m
of 0.89 g Au/t in PIN17-05. In most instances, the
new results either confirm or outperform the expectations in the
current resource estimate block model.
Jonathan Awde, CEO and Director of Gold Standard
commented: “We are pleasantly surprised by our Pinion infill
drilling success which appears to be adding resource ounces at
better than expected grades. We think these new results could make
a valuable contribution to the Preliminary Economic Assessment now
in progress. Pinion is no longer the small deposit of uncertain
grade and metallurgy that we acquired four years ago.
Overall, we are excited by the impact this year’s drill program
could have on our valuation. There are still more than 37 drill
holes to be reported on and we are hopeful that we will be able to
report another new discovery from this program.”
Key Highlights
- At the Pinion North Zone, PIN17-02 intersected
56.4m of 1.68 g Au/t, including 38.1m of 2.32 g Au/t; PIN17-04
intersected 15.2m of 1.66 g Au/t including 10.6m of 2.17 g Au/t;
and PIN17-01 intersected 22.8m of 0.80 g Au/t. All three
drill holes appear to outperform the resource block model in this
portion of the deposit and demonstrate the continuity of gold
mineralization, with drill hole PIN17-01 extending the higher-grade
(>1.0 g Au/t) beyond the current margins of the Pinion pit
design.
- In the Pinion Main Zone, PIN17-10 intersected
42.7m of 1.23 g Au/t including a higher-grade interval of 22.8m of
1.92 g Au/t; and PIN17-05 intersected 32.0m of 0.89 g Au/t
including 12.2m of 1.66 g Au/t. Both drill holes appear to
outperform the resource block model in this portion of the
deposit.
- Results from drill holes PIN17-05, -06, -07, -08, -09 and -10
confirm the tenor and grade of the block model in the southern
portion of the Main Zone and extend mineralization beyond the
current margins of the Pinion pit design. Drill hole
PIN17-12, a metallurgical core hole, also appears to outperform the
resource block model.
Pinion drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
PIN17-01 |
RC |
|
-90 |
83.8 |
25.9 – 47.2 |
21.3 |
0.59 |
|
61.0 – 83.8 |
22.8 |
0.80 |
PIN17-02 |
RC |
|
-90 |
152.4 |
10.7 – 67.1 |
56.4 |
1.68 |
Including |
13.7 – 51.8 |
38.1 |
2.32 |
79.3 – 80.8 |
1.5 |
0.20 |
96.0 – 99.1 |
3.1 |
0.40 |
123.5 – 128.1 |
4.6 |
0.40 |
PIN17-03 |
Core |
270 |
-83 |
129.5 |
Assays pending |
PIN17-04 |
RC |
090 |
-70 |
152.4 |
79.3 – 94.5 |
15.2 |
1.66 |
Including |
79.3 – 89.9 |
10.6 |
2.17 |
123.4 – 128.0 |
4.6 |
0.36 |
PIN17-05 |
RC |
|
-90 |
70.1 |
12.2 – 44.2 |
32.0 |
0.89 |
Including |
22.9 – 35.1 |
12.2 |
1.66 |
PIN17-06 |
RC |
|
-90 |
53.4 |
6.1 – 25.9 |
19.8 |
0.75 |
Including |
7.6 – 12.2 |
4.6 |
2.13 |
PIN17-07 |
RC |
|
-90 |
79.3 |
24.4 – 32.0 |
7.6 |
1.22 |
PIN17-08 |
RC |
|
-90 |
91.5 |
29.0 – 38.1 |
9.1 |
0.97 |
|
45.7 – 54.8 |
9.1 |
0.50 |
86.8 – 89.9 |
3.1 |
0.33 |
PIN17-09 |
RC |
|
-90 |
106.7 |
0 – 3.1 |
3.1 |
0.39 |
|
54.9 – 73.2 |
18.3 |
0.40 |
102.1 – 103.6 |
1.5 |
0.15 |
PIN17-10 |
RC |
090 |
-55 |
122.0 |
0 – 42.7 |
42.7 |
1.23 |
Including |
13.7 – 36.5 |
22.8 |
1.92 |
74.6 – 77.7 |
3.1 |
0.46 |
PIN17-11 |
RC |
090 |
-60 |
100.6 |
50.3 – 68.6 |
18.3 |
0.78 |
|
94.5 – 100.6 |
6.1 |
0.42 |
PIN17-12 |
Core |
050 |
-74 |
91.4 |
12.2 - 53.8 |
41.5 |
0.85 |
Including |
41.2 - 53.8 |
12.6 |
1.58 |
PIN17-13 |
Core |
047 |
-77 |
199.7 |
Assays pending |
PIN17-14 |
RC |
090 |
-65 |
280.5 |
Assays pending |
PIN17-15 |
RC |
090 |
-70 |
213.4 |
Assays pending |
PIN17-16 |
RC |
060 |
-75 |
166.2 |
Assays pending |
PIN17-17 |
RC |
|
-90 |
68.6 |
Assays pending |
PIN17-18 |
RC |
090 |
-76 |
106.7 |
Assays pending |
PIN17-19 |
RC |
|
-90 |
68.6 |
Assays pending |
** Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff. Weighted averaging has
been used to calculate all reported intervals. True widths
are estimated at 70-90% of drilled thicknesses.
Mac Jackson, Gold Standard’s Vice President of
Exploration stated: “We are off to a great start in our development
drill program at Pinion with several greater than 1 g Au/t oxide
intercepts well above the 0.62 g Au/t average grade of the
deposit. These results suggest local structural control to
higher-grade mineralization within the extensive multi-lithic
breccia host horizon, a common grade distribution pattern on the
Carlin Trend. As we progress with our infill program, we hope
to continue to better define and extend these greater than 1 g Au/t
oxide gold zones, increasing the average grade of the Pinion
deposit.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality AssuranceAll 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. Core was cut at the company’s
facility in Elko and one quarter was sent to the lab for analysis
and the remaining material retained in the original core box.
A blank or certified reference material was inserted approximately
every tenth sample. The core and RC samples were delivered to
ALS Minerals preparation facility in Elko, NV where they were
crushed and pulverized. Resulting sample pulps were shipped
to ALS Minerals 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 or Minex of Elko, NV. Final 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 Gold Project,
located within the prolific Carlin Trend. The 2014 Pinion and Dark
Star gold deposit acquisitions offer Gold Standard a potential
near-term development option and further consolidates the Company’s
premier land package on the Carlin Trend. The Pinion deposit now
has an NI43-101 compliant resource estimate 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. The Dark Star
deposit, 2.1 km to the east of Pinion, has a NI43-101 compliant
resource estimate 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. The North Bullion deposit, 7 km to the north of
Pinion, has a NI43-101 compliant resource estimate 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 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 President Tel: 604-669-5702 Email:
info@goldstandardv.com Website: www.goldstandardv.com
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Apr 2023 to Apr 2024