Oxidized intercepts include 33.5m of 2.33 g
Au/t and 109.7m of 1.00 g Au/t
Gold Standard Ventures Corp. (
TSX: GSV; NYSE AMERICAN:
GSV) (“Gold Standard” or the “Company”) today reported
more impressive results from two reverse-circulation (“RC”) holes
and four core holes at 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
128 of the 136 holes that have been completed at Dark Star.
Two holes in the northern portion of Dark Star
intersected vertically-continuous zones of oxidized gold
mineralization including 33.5m of 2.33 g Au/t in DR18-109
and 109.8m of 1.00 g Au/t in DR18-110
(refer to Dark Star drill hole plan and section maps at the
following link
https://goldstandardv.com/lp/ds-nov15-2018-drillmaps/). These
results continue to confirm oxide gold resource potential below the
depth of the current resource model as well as potential to expand
the resource laterally in multiple directions.
The current expanded development drilling
program announced on September 20, 2018 (see news release) consists
of approximately 5,400m of additional RC drilling in 17 holes to
test new targets at depth below the current resource model, and 18
additional holes to test the potential for further lateral resource
expansion to the north, west and south of the current
resource. Seven of these drill holes have been completed.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Dark Star continues to grow both laterally and at
depth. As the deposit continues to expand, we are seeing important
opportunities to improve and optimize our potential development
path. Perhaps most important, we are now routinely seeing
significant widths of oxide material grading above two grams per
tonne. We expect these types of grades will give us more
opportunities as we continue along our potential development
path.”
Key Highlights from Dark
Star:
- DR18-109 stepped out to the north
of Dark Star and intersected two zones of oxide mineralization: an
upper near-surface zone of 18.3m of 1.13 g Au/t, including
6.1m of 2.96 g Au/t; and a lower zone of 33.5m of 2.33 g
Au/t, including 15.2m of 4.24 g Au/t.
Mineralization extends approximately 30m below the current resource
model and remains open to the west and north.
- In the northern portion of Dark
Star, RC hole DR18-110 intersected an oxidized interval of 109.7m
of 1.00 g Au/t, including separate intervals of 24.4m of
2.05 g Au/t and 13.7m of 1.25 g Au/t. Mineralization
extends approximately 25m below the current resource model and
remains open to the west, east and north. Below the oxide
mineralization, the hole intersected a reduced (sulfidic) zone of
12.2m of 3.94 g Au/t.
- Based on the reduced intercepts in
fourteen drill holes, we can now see a large sulfide target
emerging below the thick, vertically-continuous zones of oxide
mineralization in the northern portion of Dark Star. The
known dimensions of this zone of reduced mineralization are
approximately 300m (north-south) by 90m (east-west). Some
drill hole examples include: 16.8m of 3.66 g Au/t in DC18-22 (see
October 16, 2018 news release); in 10.7m of 5.85 g Au/t in DR18-70
and 27.4m of 2.28 g Au/t in DR18-104 (see September 24, 2018 news
release).
- DC18-23, a step out core hole in
the southern portion of Dark Star, intersected 45.1m of 1.16 g
Au/t, including 10.7m of 2.61 g Au/t. Oxide
mineralization begins at the current topographic surface, it
remains open in multiple directions and the intercept extends the
gold grade in the current resource model. DC18-23 is
approximately 240m south of DC18-17 which intersected 76.6m of 0.47
g Au/t, and 60m east of DC18-18 which intersected 15.2m of 0.38 g
Au/t (see September 24, 2018 news release). Collectively,
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 over
the next few weeks.
- DC18-04, DC18-06 and DC18-08 were
geotechnical core holes drilled away from the resource into the
proposed west and east highwalls, to confirm geotechnical
parameters in the proposed open pit highwall. Gold
mineralization was not expected in these drill holes.
- Currently 5 drill rigs are active
on site testing the following: 1) new targets at depth below the
Dark Star current resource model, and lateral resource expansion to
the north, west and south of the current Dark Star resource; 2)
extensions of the known shallow oxide mineralization and new
targets at Jasperoid Wash; 3) new shallow oxide targets at Dixie
and Arcturus; and 4) new shallow oxide targets at Ski Track.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR18-109 |
RC |
0 |
-90 |
358.1 |
22.9-41.2 |
18.3 |
1.13 |
Including
Including |
24.4-30.5 |
6.1 |
2.96 |
211.9-221.0 |
9.1 |
0.26 |
230.2-263.7 |
33.5 |
2.33 |
236.3-251.5 |
15.2 |
4.24 |
288.1-297.2 |
9.1 |
0.22 |
343.0-355.2 |
12.2 |
0.22 |
DR18-110 |
RC |
90 |
-80 |
368.8 |
152.4-158.5 |
6.1 |
0.29 |
Including Including |
169.2-278.9 |
109.7 |
1.00 |
233.2-257.6 |
24.4 |
2.05 |
265.2-278.9 |
13.7 |
1.25 |
283.5-295.7 |
12.2 |
3.94 |
DC18-23 |
Core |
0 |
-90 |
85.3 |
0-45.1 |
45.1 |
1.16 |
Including |
28.3-39.0 |
10.7 |
2.61 |
DC18-04 |
Core |
275 |
-75 |
277.4 |
No significant results |
DC18-06 |
Core |
40 |
-65 |
259.1 |
No significant results |
DC18-08 |
Core |
130 |
-65 |
231.6 |
No significant results |
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: “Dark Star continues to present opportunity
for growth in the oxide resources, as shown in the results for
holes 23, 109, and 110. North Dark Star results (109 and 110)
are particularly interesting with long runs of oxide mineralization
and higher- grade sulfide at depth. These results continue to
move the footprint of the deposit north and west.”
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 STATEMENTSThis 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 DirectorFOR
FURTHER INFORMATION PLEASE CONTACT: Jonathan Awde President
Tel: 604-669-5702 Email:
info@goldstandardv.com Website: www.goldstandardv.com
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