Gold Standard Expands the Exploration and Development Program in the Railroad District, Carlin Trend, Nevada
September 20 2018 - 6:30AM
Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today announced expanded exploration and development plans for the
remainder of 2018 on its 100%-owned/controlled Railroad-Pinion
Project in Nevada’s Carlin Trend. Work this autumn will focus on 1)
drill testing three new exploration targets; 2) further step out
drilling at the Dark Star deposit; 3) further step out drilling at
Jasperoid Wash; 4) completing the Dark Star and Pinion resource
updates in support of a PEA currently in progress; and 5) expansion
of development activities at the Dark Star and Pinion deposits.
In the revised program, Gold Standard is
allocating an additional US$2.0 million from the recently closed
financing (see September 5, 2018 news release) for exploration and
development drilling. This new capital allocation is in addition to
the US$25.8 million development and exploration program outlined in
the February 26, 2018 news release.
Jonathan Awde, CEO and Director of Gold Standard
commented: “This year’s program has developed a highly efficiency
rhythm with excellent co-ordination among the various elements from
drill crews to core sampling, assaying and geological oversight. It
makes good sense to maintain this level of effort as long as
weather conditions allow. The size and intensity of this year’s
program, together with our rapidly accumulating knowledge of the
terrain, have resulted in an explosion of promising new targets
with the identifying characteristics that have proved productive to
date. Our budget and onsite technical leadership have allowed us to
make new discoveries and immediately follow up with targeted
drilling to begin establishing their potential rather than waiting
for the next field season. We are excited by what we think we can
accomplish in the remainder of this year to add value and continue
the rapid evolution of Railroad District.”
Key Highlights:
Overall Program
- An additional US$2.0 million will be added to the previously
announced exploration and development budget for an expanded 2018
budget of US$27.8 million.
- Three drill rigs will be added to the program for a total of
five rigs on-site.
Development
- At Dark Star, complete approximately 3,400m of RC and core
drilling in 18 holes to expand areas of known oxide mineralization
to the west and south, and complete approximately 5,400m of RC
drilling in 17 holes to test targets at depth below the current
model. Specifically, drilling will target 1) mineralization in the
footwall of the Ridgeline fault where DR18-99 intersected 56.4m of
2.94 g Au/t, including 16.8m of 8.67 g Au/t (see
August 23, 2018 news release) and 2) a 300m long (north-south) by
150m wide (east-west) area at North Dark Star where 24 holes ended
in mineralization 30 to 90m below the current resource model.
- Complete resource updates for Dark Star and Pinion, and a
maiden resource for Jasperoid Wash in Q4 2018, in support of a PEA
currently in progress.
- Continue metallurgical, geotechnical, slope stability,
hydrology and material characterization studies, in support of
permitting and development activities.
District Exploration
- At Jasperoid Wash, complete approximately
3,500m of reverse-circulation (“RC”) and core drilling in 17 holes
to expand areas of known shallow oxide mineralization; test new
targets north and south of the existing drill pattern; and provide
additional material for metallurgical testing (see July 26, 2018
news release). On the north end of Jasperoid Wash, drilling will
step out from JW18-26 (22.9m of 0.76 g Au/t, including
10.7m of 1.15 g Au/t), and JW18-28 (38.1m of 0.63 g Au/t,
including 15.2m of 1.23 g Au/t) (see July 26, 2018
news release). These oxide intercepts begin at the current
topographic surface and are the northernmost drill holes completed
in the Phase 1 program.
- Ski Track, which is located approximately 2 km
west of the Pinion deposit, is a northwest-striking, 4km-long
structural corridor that exposes altered Pennsylvanian-Permian
carbonate rocks that are similar to the rocks hosting gold
mineralization at Dark Star, Jasperoid Wash and Dixie. Within the
Ski Track corridor, which is the northern extension of the
Jasperoid Wash corridor, geologic mapping, surface rock sampling
(with values ranging from <0.005 to 5.58 g Au/t), and CSAMT have
identified three unique areas for drill testing. Approximately
3,900m of RC drilling will be completed in 16 holes.
- At the new Arcturus target 4.5 km southwest of
Dark Star, complete 1,800m of RC scout and core drilling in 5
holes. Drilling will test near-surface targets in a prospective
anticline developed in altered Penn-Perm debris flow carbonate
rocks – the same rocks that host gold mineralization at Dark Star,
Jasperoid Wash and Dixie. This target was not tested by previous
operators.
- At the new West Dixie target approximately 4.5
km south of Dark Star, complete about 950m of RC drilling in 3
holes. Drilling will test a folded and faulted section of altered
Penn-Perm debris flow carbonate rocks. Similar to Arcturus, no
historic drilling was ever completed in this area.
- At North Bullion, complete a 21.2 line-km of
seismic survey, consisting of 3 east-west lines, to identify new
targets beneath post-mineral volcanic cover to the north and west
of the North Bullion resource. Results of this program may lead to
mud rotary scout drilling in 2019.
David Ernst, Gold Standard’s Director of
Operations stated: “We are very excited that our efforts have
continued to define targets with excellent potential. We look
forward to building on the discoveries that we’ve made in the
district and we are confident that as our understanding of the
complex stratigraphic and structural history of the southern Carlin
Trend evolves, more discoveries will be made.”
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.
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.comWebsite: www.goldstandardv.com
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