Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported more oxide gold results from 37 reverse-circulation
(“RC”) infill and step out holes in the southern portion of the
Dark Star deposit on its 100%-owned/controlled Railroad-Pinion
Project in Nevada’s Carlin Trend. With this news release, results
have now been reported for 37 of the 67 holes completed in the Dark
Star 2019 Phase 1 drilling program.
Eleven infill holes on the east side of the
deposit confirm thick zones of oxide mineralization beginning at
the current topographic surface with intercepts of 51.8m of 0.73 g
Au/t, including 13.7m of 1.58 g Au/t in DR19-37;
and 42.7m of 0.50 g Au/t, including 6.1m of 1.15 g
Au/t in DR19-46 (refer to Dark Star drill hole plan map at
the following link:
https://goldstandardv.com/lp/ds-mar04-2019-drillmaps/). Step out
drill holes to the south continue to intersect near-surface, oxide
mineralization that remains open for further resource
expansion.
In the current 2019 Phase 1 program, 3 drill
rigs operating at Dark Star have completed 9,500m of drilling in 67
holes. These holes are testing new targets at depth below the
current resource model, and lateral resource expansion to the
north, west and south of the current Dark Star resource. The
2019 program will also infill the current resource to approximately
30m drill spacings for conversion to measured and indicated
classification.
Jonathan Awde, CEO and Director of Gold Standard
commented: “The infill component of this program is successfully
confirming the outstanding grades and thicknesses of the central
and eastern portions of the Dark Star deposit. We expect these
results to increase the quality of our resource and to positively
impact the conversion of resources to the measured and indicated
categories. Step out drilling continues to expand the resource
potential to the south and west. Still to come are assays of new
drilling to the north of the deposit, the area which we think has
the greatest potential for upside. Also, in the northern portion of
the deposit, we look forward to testing the emerging sulfide target
underneath the oxide mineralization. We are extremely pleased
with the potential we are unlocking at Dark Star.”
Key Highlights from the Southern Portion
of Dark Star:
- 11 infill holes on the east side of the deposit confirm thick
zones of oxide mineralization beginning at the current topographic
surface. Noteworthy intercepts include: 51.8m of 0.73 g
Au/t, including 13.7m of 1.58 g Au/t in DR19-37;
42.7m of 0.50 g Au/t, including 6.1m of 1.15 g
Au/t in DR19-46; and 62.5m of 0.40 g Au/t,
including 7.6m of 1.04 g Au/t in DR19-52.
These results either confirm or slightly improve upon the current
resource block model.
- Four infill holes (DR19-08, -09, -23 and -24), in the core of
the southern portion of Dark Star, confirmed higher-grade,
near-surface oxide mineralization in the current resource block
model. Intercepts include 103.7m of 0.59 g Au/t,
including 19.8m of 1.32 g Au/t in DR19-08; 89.9m
of 0.77 g Au/t, including 29.0m of 1.53 g Au/t in
DR19-23; and 80.8m of 1.02 g Au/t, including 13.7m of 1.35
g Au/t and 15.2m of 1.80 g Au/t in DR19-24.
- On the far south end of the deposit, step out hole DR19-38
intersected 13.7m of 0.95 g Au/t starting at the current
topographic surface. This oxide mineralization remains open
to the south for further resource expansion.
- On the west side, step out drill holes DR19-05 and DR19-20
extend near-surface oxide mineralization to the west of DC18-18
(15.2m of 0.38 g Au/t, see 9-24-18 news release). This oxide
mineralization also remains open for further resource
expansion.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR19-02 |
RC |
|
-90 |
236.2 |
No significant assays |
DR19-03 |
RC |
|
-90 |
137.2 |
No significant assays |
DR19-04 |
RC |
|
-90 |
208.8 |
No significant assays |
DR19-05 |
RC |
|
-90 |
140.2 |
0-12.2 |
12.2 |
0.37 |
|
48.8-61.0 |
12.2 |
0.16 |
67.1-88.4 |
21.3 |
0.36 |
DR19-07 |
RC |
|
-90 |
45.7 |
12.2-22.9 |
10.7 |
0.26 |
DR19-08 |
RC |
|
-90 |
204.2 |
64.0-167.7 |
103.7 |
0.59 |
|
|
|
|
Including |
97.6-105.2 |
7.6 |
1.40 |
|
|
|
|
Including |
144.8-164.6 |
19.8 |
1.32 |
DR19-09 |
RC |
|
-90 |
179.9 |
35.1-143.3 |
108.2 |
0.34 |
|
|
|
|
Including |
96.0-100.6 |
4.6 |
1.18 |
|
|
|
|
|
158.6-179.9 |
21.3 |
0.56 |
|
|
|
|
Including |
176.8-179.9 |
3.1 |
1.89 |
DR19-10 |
RC |
270 |
-86 |
144.8 |
27.4-134.1 |
106.7 |
0.39 |
DR19-16 |
RC |
|
-90 |
195.1 |
94.5-106.7 |
12.2 |
0.22 |
|
112.8-115.9 |
3.1 |
0.29 |
121.9-138.7 |
16.8 |
0.27 |
DR19-17 |
RC |
|
-90 |
141.7 |
65.5-79.2 |
13.7 |
0.25 |
DR19-18 |
RC |
|
-90 |
111.3 |
19.8-56.4 |
36.6 |
0.23 |
DR19-19 |
RC |
|
-90 |
198.1 |
No significant assays |
DR19-20 |
RC |
|
-90 |
128.0 |
7.6-36.6 |
29.0 |
0.34 |
DR19-21 |
RC |
90 |
-72 |
167.6 |
6.1-22.9 |
16.8 |
0.18 |
|
27.4-88.4 |
61.0 |
0.38 |
105.2-137.2 |
32.0 |
0.35 |
DR19-22 |
RC |
|
-90 |
179.8 |
18.3-147.9 |
129.6 |
0.34 |
DR19-23 |
RC |
|
-90 |
178.3 |
18.3-108.2 |
89.9 |
0.77 |
Including |
62.5-91.5 |
29.0 |
1.53 |
DR19-24 |
RC |
|
-90 |
195.1 |
21.3-28.9 |
7.6 |
0.21 |
|
|
|
|
|
33.5-114.3 |
80.8 |
1.02 |
|
|
|
|
Including |
44.2-57.9 |
13.7 |
1.35 |
|
|
|
|
Including |
99.1-114.3 |
15.2 |
1.80 |
DR19-25 |
RC |
41 |
-81 |
140.2 |
0-85.4 |
85.4 |
0.38 |
DR19-31 |
RC |
|
-90 |
179.8 |
36.6-45.7 |
9.1 |
3.35 |
|
77.7-147.8 |
70.1 |
0.27 |
152.4-169.2 |
16.8 |
0.16 |
DR19-32 |
RC |
90 |
-83 |
170.7 |
47.2-170.7 |
123.5 |
0.58 |
|
|
|
|
Including |
70.1-77.7 |
7.6 |
1.33 |
|
|
|
|
Including |
97.6-112.8 |
15.2 |
1.08 |
DR19-33 |
RC |
|
-90 |
85.3 |
No significant assays |
DR19-34 |
RC |
90 |
-60 |
150.9 |
56.4-150.9 |
94.5 |
0.58 |
|
|
|
|
Including |
76.2-86.9 |
10.7 |
1.36 |
|
|
|
|
Including |
106.7-117.4 |
10.7 |
1.04 |
DR19-36 |
RC |
90 |
-71 |
79.2 |
0-29.0 |
29.0 |
0.23 |
|
36.6-67.1 |
30.5 |
0.35 |
DR19-37 |
RC |
|
-90 |
57.9 |
0-51.8 |
51.8 |
0.73 |
Including |
21.3-35.0 |
13.7 |
1.58 |
DR19-38 |
RC |
|
-90 |
30.5 |
0-13.7 |
13.7 |
0.95 |
DR19-39 |
RC |
90 |
-80 |
121.9 |
12.2-70.1 |
57.9 |
0.93 |
Including |
32.0-53.3 |
21.3 |
1.82 |
DR19-40 |
RC |
|
-90 |
42.7 |
0-15.2 |
15.2 |
0.40 |
DR19-42 |
RC |
|
-90 |
45.7 |
0-45.7 |
45.7 |
0.37 |
DR19-43 |
RC |
|
-90 |
56.4 |
0-9.1 |
9.1 |
0.17 |
|
15.2-21.3 |
6.1 |
0.30 |
DR19-44 |
RC |
|
-90 |
54.9 |
18.2-22.8 |
4.6 |
0.22 |
|
35.0-45.7 |
10.7 |
0.35 |
DR19-45 |
RC |
|
-90 |
91.4 |
0-27.4 |
27.4 |
0.50 |
DR19-46 |
RC |
|
-90 |
73.2 |
0-42.7 |
42.7 |
0.50 |
Including |
25.9-32.0 |
6.1 |
1.15 |
DR19-47 |
RC |
|
-90 |
30.5 |
No significant assays |
DR19-48 |
RC |
|
-90 |
33.5 |
0-21.3 |
21.3 |
0.53 |
DR19-50 |
RC |
|
-90 |
85.3 |
0-44.2 |
44.2 |
0.47 |
Including |
27.4-33.5 |
6.1 |
1.50 |
DR19-51 |
RC |
270 |
-64 |
125.0 |
1.5-22.8 |
21.3 |
0.55 |
|
29.0-73.2 |
44.2 |
0.48 |
DR19-52 |
RC |
|
-90 |
94.5 |
0-62.5 |
62.5 |
0.40 |
Including |
9.1-16.7 |
7.6 |
1.04 |
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 General Manager
commented: “This phase of drilling is the last piece required
before moving the bulk of the Dark Star resource to measured and
indicated as part of an ongoing technical study with our
consultant, M3 Engineering and Technology Corp out of Tucson,
Arizona. Gold Standard is working with M3 on a technical
report and with additional consultants on other technical and
engineering studies.”
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. Gold Standard’s
successful exploration of the Pinion and Dark Star gold deposits
has created 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. This resource will be
re-estimated this year to include drill results from 2018.
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. This resource will also be re-estimated this year to include
highly favourable 2018 drill results.
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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