Gold Standard Ventures Intersects 68.4m of 3.35 g Au/t and 164.6m of 2.26 g Au/t at the Dark Star Oxide Gold Deposit, Carlin ...
December 07 2017 - 6:30AM
Gold Standard Ventures Corp. (TSX:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company”) today announced
results from four infill holes at the Dark Star oxide gold deposit
on its 100%-owned/controlled Railroad Project in Nevada’s Carlin
Trend. These drill holes are a portion of Gold Standard’s
2017 US$15.5 million program which includes up to 48,800 m of
reverse-circulation (“RC”) and core drilling in 117 holes (see
February 2, 2017 news release). These four holes are part of
an infill drilling program designed to reduce drill spacing in
critical portions of Dark Star to 30m. Recent results
continue to confirm the resource block model and reduce risk
associated with the project (please go to the following link -
https://goldstandardv.com/lp/DS-dec2017-drill-maps/).
Infill core hole DS17-28 intersected
68.4m of 3.35 g Au/t approximately 70m north of
DS17-20 (136.0m 2.67 g Au/t) and approximately 30m south of DS16-24
which intersected 97.3m of 3.34g Au/t (see news release dated April
18, 2017). These new results are expected to improve the
grade of the current block model in this portion of Dark Star.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Infill drilling at Dark Star continues to return grades
and thicknesses above our expectations based on the current
resource model. This deposit is taking shape as a potentially
exceptional economic opportunity. Drilling is still proceeding with
five rigs working on Dark Star and several exploration targets
throughout the Railroad Project. We are pressing to get as much
done as possible while the weather permits and we are excited by
the prospects for some of the new areas we are drilling for the
first time.”
Key Highlights
- In the northern portion of Dark Star, infill core hole DS17-28
intersected 68.4m of 3.35 g Au/t, including 2
higher-grade zones of 7.0m of 14.30 g Au/t and 6.0m of
10.30 g Au/t. Grade of the gold
mineralization in DS17-28 appears to outperform the resource block
model in this portion of the oxide deposit, and confirm the lateral
continuity of a +1.0g Au/t gold zone located in the immediate
hanging wall of the Ridgeline fault.
- DS17-30 is a RC hole completed approximately 35m south of
DS16-08 and 30m east of DS17-28. The hole intersected an a
thick zone of 164.6m of 2.26 g Au/t, including
three higher-grade zones of 16.8m of 4.12 g Au/t;
16.8m of 2.86 g Au/t and 36.6m of 3.51 g Au/t.
Results confirm the block model grade estimates in this zone, but
more importantly indicate a thicker mineralized interval than the
resource block model predicted.
- DS17-29 is a RC hole completed approximately 60m south of
DS17-28 and 30m east of DS17-20 (136.0m of 2.67 g Au/t) (see news
release dated November 7, 2017). The hole (DS17-29)
intersected 118.9m of 1.27 g Au/t including three
higher grade zones of 9.1m of 2.98 g Au/t, 4.6m of 4.36 g
Au/t and 33.5m of 1.70 g Au/t. Results confirm the
resource block model in this portion of the oxide deposit and
importantly, extends the block model by approximately 20m at
depth.
- In the northern portion of Dark Star, infill RC hole DS17-27
intersected 118.9m of 0.69 g Au/t including 4.6m of 2.38 g
Au/t and 6.1m of 1.75 g Au/t. This
hole confirms the grade of the block model in this location.
However, the hole was completed only to a depth of 182.9m and ended
in 2.19 g Au/t. This intercept extends the zone estimated by
the current block model by approximately 30m at depth.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DS17-27 |
RC |
090 |
-80 |
182.9 |
64.0-182.9 |
118.9 |
0.69 |
Including Including |
85.3-89.9 |
4.6 |
2.38 |
160.0-166.1 |
6.1 |
1.75 |
DS17-28 |
Core |
|
-90 |
228.7 |
16.2-87.2 |
71.0 |
0.31 |
Including Also
Including Also
Including |
117.3-185.8 |
68.4 |
3.35 |
136.1-178.5 |
42.4 |
5.23 |
137.8-144.8 |
7.0 |
14.30 |
154.1-160.1 |
6.0 |
10.30 |
DS17-29 |
RC |
|
-90 |
175.3 |
53.4-172.3 |
118.9 |
1.27 |
Including Including Including |
54.9-64.0 |
9.1 |
2.98 |
70.1-74.7 |
4.6 |
4.36 |
97.6-131.1 |
33.5 |
1.70 |
DS17-30 |
RC |
|
-90 |
225.6 |
48.8-213.4 |
164.6 |
2.26 |
Including Including Including |
54.8-71.6 |
16.8 |
4.12 |
97.5-114.3 |
16.8 |
2.86 |
164.6-201.2 |
36.6 |
3.51 |
** Gold intervals reported in this table were
calculated using a 0.20 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: “These thick, high-grade oxide intercepts at
Dark Star outperform the current resource model, adding grade and
increasing thickness. Dark Star is a high quality, open-pit
oxide deposit, and we are likely to find more as we continue to
explore the same Penn.-Perm. host section and structural setting
moving south on the large land package that we added this
year.”
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
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 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 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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