Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported impressive new results from 4 reverse-circulation
(“RC”) and 12 core holes at the Dark Star deposit on its
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend. These results are likely to have a substantial impact on the
Dark Star deposit’s resource potential and development planning.
Four holes in the northern portion of Dark Star
intersected exceptional, vertically-continuous zones of oxidized
gold mineralization including 190.5m of 2.28 g Au/t, 230.2m of 1.87
g Au/t, 240.8m of 1.70 g Au/t, and 122.0m of 0.81 g Au/t.
These results continue to confirm oxide gold resource potential
well below the depth of the current resource model. This
autumn, as part of an expanded development drilling program
announced last week, approximately 5,400m of additional RC drilling
in 17 holes will test new targets at depth below the current
resource model, and 18 additional holes will test the potential for
lateral resource expansion to the north, west and south of the
current resource (see September 20, 2018 news release).
To date 23,644m of infill, step-out and
geotechnical drilling have been completed in 132 RC and core holes
at Dark Star (refer to Dark Star drill hole plan map at the
following link -
https://goldstandardv.com/lp/ds-september24-2018-drillmaps/).
Results from 12 Dark Star holes are summarized below, and with this
news release, results have now been reported for 119 of the 132
holes that have been completed. Three of the five rigs active
on-site will focus on Dark Star through the remainder of 2018.
Jonathan Awde, CEO and Director of Gold Standard
commented: “In our view, these results are very encouraging. Dark
Star is emerging as an important Carlin oxide deposit with
multi-million ounce potential and the size to support a
large-scale, bulk-minable open pit production scenario. After three
years of significant success, we think we may still be scratching
the surface of Dark Star’s prospects which we now think may also
include a deeper sulfide zone typical of the larger Carlin-style
deposits to the north. We are very excited to have the opportunity
to continue drilling with an expanded program over the next two or
three months. ”
Key Highlights from Dark
Star:
Northern portion of Dark
Star
- DC18-09 intersected 190.5m of 2.28 g Au/t, including
separate intervals of 28.0m of 3.05 g Au/t, 20.2m
of 6.51 g Au/t and 7.7m of 4.55 g Au/t. The 190.5m
interval contains a 15.5m zone of material below the 0.14 g Au/t
cutoff. Overall, the mineralized zone is thicker and
higher-grade than predicted by the current resource model.
The hole ended at 221.0m in 2.81 g Au/t, which is approximately 45m
below the current resource model.
- DR18-105 intersected 230.2m of 1.87 g Au/t including
separate intervals of 22.9m of 7.16 g Au/t and 7.6m of 6.12 g
Au/t (refer to cross section 4480170N -
https://goldstandardv.com/lp/ds-september24-2018-drillmaps/).
Mineralization extends approximately 85m below the current resource
model. Below the thick oxide mineralization, the hole
intersected an interval of reduced mineralization including 32.0m
of 1.04 g Au/t.
- DR18-104 intersected 240.8m of 1.70 g Au/t including
separate intervals of 39.6m of 2.80 g Au/t, 18.3m of 3.14 g Au/t,
10.7m 0f 3.09 g Au/t (refer to cross section 4480140N -
https://goldstandardv.com/lp/ds-september24-2018-drillmaps/).
Oxidized mineralization extends approximately 55m below the current
resource model. Below the oxide mineralization, the hole
intersected a reduced zone of 27.4m of 2.28g Au/t,
including 16.8m of 2.82 g Au/t.
- In the northern portion of Dark Star, the vertically-extensive
nature of oxidized mineralization, alteration, and fluidized
breccia textures support an early-stage interpretation that
drilling may be defining a feeder structure or a breccia pipe
setting.
- DR18-103 intersected 122.0m of 0.81 g Au/t, including
12.2m of 3.32 g Au/t (refer to cross section 4480020N -
https://goldstandardv.com/lp/ds-september24-2018-drillmaps/).
Due to challenging drilling conditions, the hole ended at 202.7m in
0.54 g Au/t before testing the entire target. DR18-106, which
replaced DR18-103, successfully tested the complete target.
Assays for DR18-106 are pending.
- DR18-70 intersected an oxide interval of 112.8m of 0.61 g Au/t,
including separate intervals of 12.2m of 1.25 g Au/t and
6.1m of 2.04 g Au/t (refer to cross section 4480200N -
https://goldstandardv.com/lp/ds-september24-2018-drillmaps/).
The oxide intercept includes a 13.7m interval of material below the
0.14 g Au/t cutoff. Below the oxide mineralization, the hole
intersected a reduced zone of 29.0m of 2.90 g Au/t,
including 10.7m of 5.85 g Au/t.
Mineralization extends approximately 80m below the current resource
model and remains open to the north.
- Based on the reduced gold intercepts in DR18-70, -104 and -105,
there is an emerging sulfide target below the thick,
vertically-continuous zones of oxide mineralization.
Southern portion of Dark
Star
- Core hole DC18-18 returned an oxide intercept of 15.2m of 0.38
g Au/t. The intercept is closer to the current topographic
surface than predicted by the resource block model and
mineralization remains open to the south. This new
opportunity to expand the resource is coincident with an undrilled
surface outcrop rock chip anomaly south of the known deposit.
Additional drilling is planned for this area.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR18-70 |
RC |
90 |
-75 |
349.0 |
175.3-288.1 |
112.8 |
0.61 |
|
|
|
|
Including |
219.5-231.7 |
12.2 |
1.25 |
|
|
|
|
Including |
282.0-288.1 |
6.1 |
2.04 |
|
|
|
|
|
294.2-323.3 |
29.0 |
2.90 |
|
|
|
|
Including |
311.0-321.7 |
10.7 |
5.85 |
DR18-103 |
RC |
90 |
-73 |
202.7 |
45.7-62.5 |
16.8 |
0.16 |
Including |
80.7-202.7 |
122.0 |
0.81 |
166.2-178.4 |
12.2 |
3.32 |
DR18-104 |
RC |
90 |
-80 |
403.9 |
24.4-265.2 |
240.8 |
1.70 |
|
|
|
|
Including |
42.7-82.3 |
39.6 |
2.80 |
|
|
|
|
Including |
135.7-154.0 |
18.3 |
3.14 |
|
|
|
|
Including |
205.8-230.2 |
24.4 |
2.77 |
|
|
|
|
Including |
254.5-265.2 |
10.7 |
3.09 |
|
|
|
|
|
265.2-292.6 |
27.4 |
2.28 |
|
|
|
|
Including |
275.9-292.7 |
16.8 |
2.82 |
DR18-105 |
RC |
90 |
-80 |
367.3 |
9.1-16.7 |
7.6 |
0.48 |
|
|
|
|
|
39.6-44.2 |
4.6 |
0.39 |
|
|
|
|
|
62.5-292.7 |
230.2 |
1.87 |
|
|
|
|
Including |
211.9-234.8 |
22.9 |
7.16 |
|
|
|
|
Including |
285.1-292.7 |
7.6 |
6.12 |
|
|
|
|
|
292.7-324.7 |
32.0 |
1.04 |
|
|
|
|
|
324.7-338.4 |
13.7 |
0.60 |
DR18-106 |
RC |
90 |
-80 |
335.3 |
Assays pending |
|
DC18-04 |
Core |
275 |
-75 |
277.4 |
Geotechnical hole – assays pending |
DC18-06 |
Core |
40 |
-65 |
259.1 |
Geotechnical hole – assays pending |
DC18-08 |
Core |
130 |
-65 |
231.6 |
Geotechnical hole – assays pending |
DC18-09 |
Core |
90 |
-80 |
221.0 |
30.5-221.0 |
190.5 |
2.28 |
|
|
|
|
Including |
70.8-98.8 |
28.0 |
3.05 |
|
|
|
|
Including |
129.0-136.6 |
7.6 |
4.55 |
|
|
|
|
Including |
150.5-170.7 |
20.2 |
6.51 |
|
|
|
|
Including |
208.2-215.9 |
7.7 |
4.55 |
DC18-10 |
Core |
290 |
-65 |
198.1 |
Geotechnical hole – assays pending |
DC18-11 |
Core |
90 |
-75 |
66.8 |
Assays pending |
DC18-12 |
Core |
205 |
-65 |
232.9 |
Geotechnical hole – assays pending |
DC18-14 |
Core |
110 |
-80 |
188.5 |
Geotechnical hole – assays pending |
DC18-15 |
Core |
90 |
-77 |
121.9 |
17.7-28.4 |
10.7 |
0.17 |
|
|
|
|
|
32.9-101.4 |
68.5 |
0.69 |
|
|
|
|
Including |
43.6-55.8 |
12.2 |
1.13 |
|
|
|
|
Including |
87.4-99.0 |
11.6 |
1.41 |
DC18-16 |
Core |
90 |
-85 |
196.0 |
71.0-75.9 |
4.9 |
0.80 |
|
101.5-112.2 |
10.7 |
0.37 |
191.4-196.0 |
4.6 |
0.47 |
DC18-17 |
Core |
90 |
-86 |
192.0 |
8.8-11.9 |
3.1 |
1.58 |
Including |
54.6-131.2 |
76.6 |
0.47 |
137.2-141.5 |
4.3 |
0.17 |
164.3-188.2 |
23.9 |
0.44 |
175.0-178.1 |
3.1 |
1.29 |
DC18-18 |
Core |
|
-90 |
125.0 |
4.0-19.2 |
15.2 |
0.38 |
|
22.3-29.9 |
7.6 |
0.25 |
DC18-19 |
Core |
90 |
-55 |
176.8 |
93.6-97.7 |
4.1 |
0.18 |
DC18-20 |
Core |
|
-90 |
105.2 |
15.9-22.0 |
6.1 |
0.17 |
|
32.6-50.9 |
18.3 |
0.17 |
DC18-21 |
Core |
|
-90 |
91.4 |
9.8-15.9 |
6.1 |
0.29 |
DC18-22 |
Core |
90 |
-83 |
304.0 |
Assays pending |
DC18-23 |
Core |
|
-90 |
85.3 |
Assays pending |
DC18-24 |
Core |
|
-90 |
76.2 |
Assays pending |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide mineralization and
a 1.0 g Au/t cutoff for reduced 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 Senior Development
Geologist commented: “The deep drill tests below the Dark Star
resource have provided excellent results for GSV. Assay results,
including select zones of >7 g Au/t, have pushed the gold zone
80-90m deeper than previously modeled. The mineralization
appears to be related to the Ridgeline structural zone and remains
open to the north, south, west and at depth. We are anxiously
awaiting results of the final two holes (DR18-106 and DC18-22) to
design follow up drilling.”
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 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 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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