Oxide intercepts include 138.7m of 1.12 g
Au/t and 117.3m of 1.54 g Au/t Phase 2
exploration will focus on new sulfide target identified below Dark
Star Resource
Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported final drill results from its 2019 Phase 1 drilling
at Dark Star. With this news release, results have now been
reported for all RC and core holes completed in the Dark Star 2019
Phase 1 drilling program deposit, located on GSV’s
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend.
In the northern portion of the deposit, two RC
holes confirm extensions to thick zones of oxide mineralization
identified during the 2018-19 step out and infill program.
DR19-73 intersected 138.7m grading 1.12 g Au/t, including
38.1 m of 2.61 g Au/t; and DR19-74 intersected 65.5m of
1.33 g Au/t, including 30.5m of 1.80 g Au/t (refer
to the Dark Star drill hole plan map at the following link
https://goldstandardv.com/drill-maps/April-25-2019-drill-map/).
Additionally, core hole DC19-01, which was suspended at 231m,
confirmed oxide mineralization, with 117.3m of 1.54g Au/t,
including 44.3m of 2.55 g Au/t.
In the 2019 Phase 1 program, 10,729m of drilling
was completed in 71 RC holes and 231m in one core hole. The program
was designed to test new targets at depth below the current
resource model, and lateral resource expansion opportunities
adjacent to the current Dark Star resource. The 2019 program
also infilled the current resource to approximately 30m drill
spacings for conversion to measured and indicated classification
necessary for reserve estimation. The full suite of assays
and drilling will be incorporated into the ongoing model update and
resource estimate currently in progress.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Phase 1 Dark Star infill and step out drilling was an
unqualified success. We confirmed the deposit’s consistently
high-grade oxide character and achieved the drill density
ultimately required for reserves in the Preliminary Feasibility
Study now in progress. We also learned that oxidation extends
deeper than expected, especially to the north, where grades improve
at depth and where we believe we have further room to grow,” Awde
said.
“This summer, the focus will shift from infill
and step out to exploration. Phase 2 drilling will return to the
zone between the Ridgeline and IDK Faults, which appear to be
feeders to the Dark Star deposit, where we will test for deeper
sulfide mineralization below the current resource. This is the type
of target that has made Carlin so prolific as a gold producer.”
Key Highlights from Dark
Star:
- In the northern portion of the deposit, two RC holes
intersected thick zones of oxide mineralization including:
138.7m of 1.12 g Au/t, including 38.1 m of 2.61 g
Au/t in DR19-73; and 65.5m of 1.33g Au/t, including
30.5m of 1.80 g Au/t in DR19-74. The RC
holes stepped out north from mineralization intersected in
DR18-110, which intersected 109.7m of 1.00 g Au/t including
24.4m of 2.05 g Au/t (see November 15, 2018 news release)
and are approximately 25m south of DR19-26, which intersected 51.8m
of 1.07 g Au/t, including 16.8m of 2.58 g Au/t;
and DR19-15 which intersected 22.9m of 1.92 g Au/t,
including 13.7m of 3.04 g Au/t (see March 26, 2019
news release). Mineralization remains open to the north of
DR19-15 and DR19-26 for resource expansion.
- Additionally, core hole DC19-01, which was suspended at 231m,
confirmed higher grade oxide mineralization with 117.3m of 1.54 g
Au/t, including 44.3m of 2.55 g Au/t.
Drilling was suspended in grade due to weather conditions and will
be re-entered during Phase 2 drilling at Dark Star this
summer. This hole is targeting the Ridgeline/IDK Fault
corridor at depth, with a target of 460m.
- Two monitoring wells (DR19-30 and MW19-01) external to the Dark
Star deposit were completed during Phase 1 for permitting
purposes. As expected these holes did not contain significant
mineralization.
- Initial exploration drilling on several high value targets is
slated to begin on the Railroad-Pinion project in late May.
This includes: o exploration at North Dark Star for a deep sulfide
feeder along the Ridgeline-IDK corridor and to the north under
cover; o exploration along the Dark Star Corridor including Dixie
and the newly defined Hidden Star target; o continued exploration
in favorable Penn-Perm rocks at Jasperoid Wash, along strike of the
current deposit and further drill testing along the newly
identified feeder structure that has the possibility of higher gold
grades, and has similarities to the high-grade feeder structures
found at the North Dark Star deposit; and o initial exploration at
LT (Pinion type) and Penn-Perm rocks along the Ski Track Corridor,
were high-grade surface samples have been taken and were CSAMT has
identified possible controlling structures and alteration at
shallow depths.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
MW19-01 (Monitor Well) |
RC |
|
-90 |
225.6 |
No Significant results |
DR19-30 (Piezo) |
RC |
|
-90 |
344.4 |
No significant results |
DR19-73 |
RC |
78 |
-80 |
320.0 |
152.4-291.1 |
138.7 |
1.12 |
Including |
248.4-286.5 |
38.1 |
2.61 |
DR19-74 |
RC |
34 |
-87 |
336.8 |
45.7-59.4 |
13.7 |
0.15 |
|
211.8-277.4 |
65.5 |
1.33 |
IncludingIncluding |
222.2-253.0 |
30.5 |
1.80 |
262.1-275.8 |
13.7 |
1.46 |
DC19-01 |
Core |
270 |
-83.5 |
231.0 |
74.1-104.5 |
30.4 |
0.48 |
|
113.7-231.0 |
117.3 |
1.54 |
Including |
144.2-188.5 |
44.3 |
2.55 |
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: “The last round of drilling at Dark Star concludes an
extensive development drill program (386 holes, 58,577m) that was
started in 2017. The program has reduced drill spacing to
approximately 30m and we anticipate will bring the majority of the
known gold ounces to Measured and Indicated confidence at both Dark
Star and Pinion. This was an integral step to moving
the project forward towards reserves as part of on-going economic
study at the South Railroad Project. The drilling results
will be moved forward into modeling, engineering, pit designs,
permitting and various economic studies required to put the project
into potential
production.”
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
Donald Harris, Gold Standard’s General Manager, Elko, MSc. Geology
and SME Registered Member 04146776, 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 anticipated increases of measured and indicated
resources, potential reserves, potential production and 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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