Gold Standard Ventures Drilling Confirms New Shallow Oxide Gold Deposit at Jasperoid Wash, Carlin Trend, Nevada
January 11 2018 - 6:30AM
Gold Standard Ventures Corp. (TSX:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company) today announced
results from three reverse-circulation (RC) drill holes at
Jasperoid Wash, on claims recently added to its
100%-owned/controlled Railroad Gold Project in Nevada’s Carlin
Trend (please refer to the following link -
https://goldstandardv.com/lp/jw-jan2018-drill-maps/).
Jasperoid Wash is located approximately 6 km south of the Pinion
Deposit and 7.5 km southwest of the Dark Star Deposit. These three
holes are a portion of Gold Standard’s 2017 US$15.5 million
exploration program (see February 2, 2017 news release).
The Jasperoid Wash drilling was designed to (1)
follow-up on results in JW17-01 which intersected 103.7m of
0.56 g Au/t, including a higher-grade zone of
30.5m of 0.93 g Au/t (see October 5, 2017 news
release; and (2) target structural zones and elevated surface
geochemistry within a 2km by 0.5 km block of pervasively oxidized
and altered debris flow conglomerate in the favorable
Pennsylvanian-Permian host section. All three RC holes
intersected thick zones of near-surface, oxidized mineralization,
effectively increasing the size and grade of the shallow oxide gold
zone drilled in JW17-01. The new deposit remains open in all
directions. Results from seven additional RC holes and one
core hole are pending.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Jasperoid Wash appears to be emerging as another
important deposit for Gold Standard. These results remind us of the
early days at North Dark Star where we encountered the same style
of mineralization with similar grades and thicknesses. We plan to
drill this target aggressively this year with the aim of reporting
a maiden resource in 2018. Clearly the additional claims we
acquired last year to the south of our Pinion and Dark Star
deposits are proving to be an important strategic benefit to the
Company and its shareholders.”
Key Highlights
- In the southern portion of Jasperoid Wash, JW17-04 intersected
54.9m of 0.89 g Au/t including two higher grade zones of
9.1m of 1.25 g Au/t and 12.2m of 1.66 g
Au/t. Mineralization begins approximately 10m below
the current topographic surface. The intercept is
approximately 100m southeast of the JW17-01 intercept of
103.7m of 0.56 g Au/t. Mineralization in
JW17-04 is open to the west, south and east.
- JW17-10 intersected two thick zones of near-surface oxide
mineralization including 77.7m of 0.48 g Au/t and 30.5m of 0.31 g
Au/t. These intercepts are approximately 390m north-northeast
of JW17-04.
- JW17-08, which is approximately 250m north-northeast of
JW17-10, intersected 30.5m of 0.73 g Au/t including a higher-grade
zone of 9.1m of 1.41 g Au/t.
Mineralization begins approximately 20m below the current
topographic surface and is open to the west, north and
east.
- Gold cyanide shake tests on mineralized pulp samples indicate
Jasperoid Wash is generally oxidized mineralization.
- Current drilling by Gold Standard and historical drilling by
Westmont drilling have outlined a zone approximately 750m long
(striking north-northeast) by 350m wide (east-west) of
near-surface, shallow, oxide gold mineralization that remains open
in all directions. Gold Standard has acquired the necessary
permits to conduct an aggressive exploration program on this
high-value target in 2018.
- The 2017 drilling has continued to establish the
Pennsylvanian-Permian age carbonate rocks as an important gold host
on the Carlin Trend. Regionally, this highly prospective
carbonate host section intersects the Carlin Trend in the southern
portion of Gold Standard’s Railroad property. The gold
mineralization at Jasperoid Wash, Dark Star and Dixie occurs in
these favorable host rocks. The results at Jasperoid Wash appear to
increase the potential for a further discovery at Dixie.
Jasperoid Wash drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
JW17-04 |
RC |
90 |
-50 |
199.7 |
13.7-68.6 |
54.9 |
0.89 |
IncludingIncluding |
27.4-36.5 |
9.1 |
1.25 |
44.2-56.4 |
12.2 |
1.66 |
79.2-83.8 |
4.6 |
0.17 |
125.0-131.1 |
6.1 |
0.21 |
138.7-140.2 |
1.5 |
0.14 |
JW17-08 |
RC |
90 |
-50 |
339.9 |
0-21.3 |
21.3 |
0.18 |
Including |
27.4-57.9 |
30.5 |
0.73 |
38.1-47.2 |
9.1 |
1.41 |
70.1-76.2 |
6.1 |
0.26 |
80.8-96.0 |
15.2 |
0.20 |
100.6-102.1 |
1.5 |
0.16 |
106.7-108.2 |
1.5 |
0.14 |
123.5- 137.2 |
13.7 |
0.26 |
141.8-149.4 |
7.6 |
0.18 |
178.4-179.9 |
1.5 |
0.17 |
190.5-192.0 |
1.5 |
0.15 |
202.7-204.4 |
1.5 |
0.15 |
208.8-210.3 |
1.5 |
0.16 |
JW17-10 |
RC |
90 |
-50 |
521.3 |
24.3-27.4 |
3.1 |
0.23 |
|
36.6-38.1 |
1.5 |
0.18 |
42.7-120.4 |
77.7 |
0.48 |
123.5-125.0 |
1.5 |
0.16 |
129.6-135.7 |
6.1 |
0.20 |
138.7-141.8 |
3.1 |
0.15 |
147.9-178.4 |
30.5 |
0.31 |
202.7-204.2 |
1.5 |
0.15 |
205.8-207.3 |
1.5 |
0.16 |
228.7-230.2 |
1.5 |
0.20 |
257.6-259.1 |
1.5 |
0.15 |
** 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 successfully applying our Dark Star
exploration model in targeting a Pennsylvanian-Permian debris flow
carbonate hosted gold system at Jasperoid Wash. As results
from these holes show, Jasperoid Wash is looking very similar to
our shallow Dark Star oxide gold deposit at this early stage of
exploration. The Jasperoid Wash deposit remains open in
multiple directions, and we are well positioned to grow this new
deposit in 2018.”
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. A blank or certified
reference material was inserted approximately every tenth
sample. The RC samples were delivered to either ALS Minerals
or Bureau Veritas Mineral Laboratories preparation facility in
Elko, NV where they were crushed and pulverized. Resulting
sample pulps were shipped to either ALS Minerals or 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 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 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 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. 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. 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 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 Director
FOR FURTHER INFORMATION PLEASE CONTACT: Jonathan
Awde President Tel: 604-669-5702 Email: info@goldstandardv.com
Website: www.goldstandardv.com
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