Gold Standard Ventures Corp. (TSX: GSV; NYSE AMERICAN: GSV) (“Gold
Standard” or the “Company”) today reported results of nine
reverse-circulation (RC) drill holes at the Dark Star deposit on
its 100%-owned/controlled Railroad-Pinion Project in Nevada’s
Carlin Trend (refer to Dark Star location map - Nov. 18, 2020 and
Dark Star Significant Intercepts - Nov. 18, 2020). Six holes
targeted and intersected up-dip, near-surface oxide mineralization
to the east of GSV’s drilling at Main Dark Star.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Our Feasibility Study, currently in progress will
utilize these drilling results as part of the updated resources and
reserves. The results indicate the ability to expand Main Dark Star
to the east. This near surface oxide could have positive impacts to
the feasibility study, including low strip up front ounces during
early production.”
Key Highlights from
Dark Star:
- Stepout holes DR20-01 through -06
intersected thick intervals of oxide mineralization to the east of
the existing GSV drilling at Main Dark Star. Mineralization begins
at the current topographic surface and remains open to the east
along a strike length of approximately 330m. These results expand
mineralization to the east beyond the current block model
approximately 60m. Follow up drilling is planned on these
intercepts.
- DR20-09 intersected 231.7m @ 2.66 g
Au/t, mineralization starts just below surface and is oxide to
depth. The hole infilled a gap in drilling to tie surface sample
results, 18.0m of 3.08 g Au/t (see October 9, 2019 news release),
to vertically-continuous, +1 g Au/t oxide mineralization at North
Dark Star.
Dark Star drill results are as follows:
Drill Hole |
Method |
Incl. |
Azimuth |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR20-01 |
RC |
-45 |
079 |
80.8 |
0-19.8 |
19.8 |
0.63 |
DR20-02 |
RC |
-45 |
090 |
91.4 |
0-61.0 |
61.0 |
0.66 |
|
|
|
|
Including |
6.1-30.5 |
24.4 |
1.03 |
DR20-03 |
RC |
-45 |
090 |
91.4 |
0-53.4 |
53.4 |
0.52 |
DR20-04 |
RC |
-45 |
108 |
70.1 |
0-27.4 |
27.4 |
0.47 |
DR20-05 |
RC |
-45 |
090 |
80.8 |
0-13.7 |
13.7 |
0.51 |
|
19.8-41.1 |
21.3 |
0.26 |
DR20-06 |
RC |
-45 |
090 |
82.3 |
0-10.7 |
10.7 |
0.20 |
DR20-07 |
RC |
-85 |
090 |
323.1 |
No results >0.14 g Au/t |
DR20-08 |
RC |
-78 |
270 |
350.5 |
No results >0.14 g Au/t |
DR20-09 |
RC |
-90 |
|
259.1 |
0-3.1 |
3.1 |
0.16 |
|
|
|
|
|
27.4-259.1 |
231.7 |
2.66 |
|
|
|
|
Including |
140.2-211.8 |
71.6 |
4.54 |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide 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 near surface oxide mineralization encountered in
drill holes DR20-01 through DR20-06 are currently in or behind the
Main Dark Star highwall design and remain open to the east. This
material could be an important source during start up for immediate
production ounces and/or leach pad over-liner material. The Main
portion of the deposit remains open along 330 m of strike and will
continue to be developed with additional drilling. The North Dark
Star drill hole (DR20-09) was designed to fill a gap between 3m
channel surface samples and the greater ore body currently carried
as a resource and reserve. The results confirm the oxide and higher
grade nature of North Dark Star, with individual gold values
ranging from 0.15 to 12.8 g Au/t, and ties the 18m @ 3.08 g Au/t
found in surface sampling to the greater deposit.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance All drill 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 shipped to Paragon
Geochemical’s certified laboratory in Sparks, NV where they were
crushed and pulverized. Resulting sample pulps were digested and
analyzed for gold using fire assay fusion and an ICP-OES 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, blanks and duplicates 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 building value in a safe, responsible, sustainable and ethical
manner by leveraging its strategic, cornerstone land package in
Nevada’s Carlin Trend. Gold Standard intends to advance its South
Railroad Project through permitting and a feasibility study towards
a potential production decision. Gold Standard intends to augment
this goal by advancing exploration that contributes value to the
South Railroad Project.
The Pinion deposit has a mineral resource
estimate prepared in accordance with NI 43-101 consisting of an
Measured and Indicated Mineral Resource of 28.93 million tonnes
grading 0.58 g/t Au and 4.22 g/t Ag, totaling 544,000 ounces of
gold and 3,929,000 ounces of silver, and an Inferred Mineral
Resource of 10.81 million tonnes grading 0.64 g/t Au and 3.80 g/t
Ag, totaling 224,000 ounces of gold and 1,322,000 ounces of silver,
using a cut-off grade of 0.14 g/t Au and constrained by a $1,500/Au
ounce LG Cone.
The Dark Star deposit has a mineral resource
estimate prepared in accordance with NI 43-101 consisting of a
Measured and Indicated Mineral Resource of 32.72 million tonnes
grading 0.88 g/t Au, totaling 921,000 ounces of gold and an
Inferred Mineral Resource of 2.48 million tonnes grading 0.70 g/t
Au, totaling 56,000 ounces of gold, using a cut-off grade of 0.14 g
Au/t and constrained by a $1,500/Au ounce LG Cone.
The North Bullion deposit has a mineral 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 Mineral 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.
The Jasperoid Wash deposit has a mineral
resource estimate prepared in accordance with NI 43-101 consisting
of an Inferred Mineral Resource of 10.57 million tonnes grading
0.33 g/t Au, totaling 111,000 ounces of gold, using a cut-off grade
of 0.14 g Au/t and constrained by a $1,500/Au ounces LG Cone.
Neither the Toronto Stock Exchange nor its
regulation services provider nor the NYSE American LLC 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
AwdePresidentTel: 604-669-5702Email: info@goldstandardv.comWebsite:
www.goldstandardv.com
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