Gold Standard Ventures Corp. (
TSX: GSV; NYSE AMERICAN:
GSV) (“Gold Standard” or the “Company”) today announced
encouraging drill results from 24 of 75 holes in the 2020 Pinion
deposit development program on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend (see attached
Pinion drilling hole map:
https://goldstandardv.com/site/assets/files/4444/20201016_pinion_location.pdf
and significant drill hole summary:
https://goldstandardv.com/site/assets/files/4444/20201016_pinion_dht.pdf).
The planned total of 16,206m of drilling in 60
reverse-circulation (“RC”) holes and 15 metallurgical core holes
has been completed. Results contained in this release are from 24
RC holes; all other RC and core results are pending. Oxide results
include 42.7m of 0.92 g Au/t, including 7.6m of 2.69 g
Au/t in hole PR20-14; 38.1m of 0.97 g Au/t in PR20-15;
64.0m of 0.81 g Au/t, including 22.9m of 1.20 g
Au/t in hole PR20-19; and 29.0m of 0.77 g Au/t,
including 12.2m of 1.28 g Au/t in PR20-23. The
data to date suggests that targeted inferred resources are likely
to be successfully upgraded for inclusion in reserves.
Objectives of the drilling included: 1)
decreasing drill spacing on the Pinion Phase 4 inferred oxide
resource for potential conversion to Measured and Indicated; 2)
provide material for metallurgical testing; and 3) tighten the
drill spacings near historic Cameco holes SB-136, an RC hole that
intersected 102.1m of 1.38 g Au/t, and SB-162-99, a core hole that
twinned and verified the SB-136 results with an intercept of 112.0m
of 1.24 g Au/t.
Jonathan Awde, CEO and Director of Gold Standard
commented: “We expect this Phase 4 program to enable us to enhance
the reserves in the feasibility study now in progress and the
initial drill data supports this expectation. Extending mine life
would make an important contribution to the project’s value, in
addition to other planned improvements and the impact of higher
gold prices. We are confident that our feasibility study will
confirm a very robust project for our shareholders.”
Key Highlights for
Pinion include:
- Four holes (PR20-14, -15, -19 and
-23) from the southern portion of the drill program intersected
vertically-continuous zones of oxide mineralization that are
thicker- and higher-grade than modeled from existing drilling.
These intercepts occur along an approximate 450m strike length
oriented at N60W – an orientation that is parallel to the Pinion
Main and South gold zones to the north. Results include: 42.7m of
0.92 g Au/t, including 7.6m of 2.69 g Au/t in hole
PR20-14; 38.1m of 0.97 g Au/t in PR20-15; 64.0m of 0.81 g Au/t,
including 22.9m of 1.20 g Au/t in hole PR20-19;
and 29.0m of 0.77 g Au/t, including 12.2m of 1.28 g
Au/t in PR20-23.
- Drill holes PR20-19, -20, and -27
intersected thick zones of oxide mineralization and all three ended
in altered multilithic breccia with oxide gold values ranging from
0.7 g Au/t to 1.37 g Au/t. Additional drilling is planned to
further evaluate the depth and strike extent of this open-ended
mineralization.
- Three holes (PR20-09, -10 and -11)
intersected shallow oxide mineralization in the southeast portion
of the drill pattern. Oxide mineralization in this area begins
approximately 40m to 55m below the current topographic surface and
remains open to east and south for additional drill testing.
- Infill drilling and Anaconda-style
mapping of new drill site excavations continues to confirm and
enhance favorable geologic patterns in the Phase 4 area, including:
repetition of fault and anticlinal fold orientations, an increase
in igneous dikes and sills, and the strength of the gold system in
the multilithic breccia host unit. Surface mapping has identified
the SB Target, which appears to connect with the N60W trend
identified above and has 300m of untested strike length to
southeast.
- Cyanide soluble gold assays confirm
the consistently oxidized nature of gold mineralization within the
multilithic breccia host at Pinion Phase 4. Excellent correlation
exists between the visual logging of oxidized zones containing
limonite and/or hematite in drill samples and the cyanide soluble
gold assays.
Pinion RC drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
PR20-01 |
RC |
|
-90 |
146.3 |
105.2-111.3 |
6.1 |
0.72 |
PR20-02 |
RC |
|
-90 |
275.8 |
201.2-225.6 |
24.4 |
1.21 |
Including |
205.8-213.4 |
7.6 |
2.59 |
PR20-03 |
RC |
|
-90 |
219.5 |
186.9-190.5 |
4.6 |
0.56 |
PR20-04 |
RC |
|
-90 |
216.4 |
176.8-185.9 |
9.1 |
0.54 |
|
195.1-216.4 |
21.3 |
0.34 |
PR20-05 |
RC |
270 |
-85 |
228.6 |
160.1-198.2 |
38.1 |
0.62 |
|
208.8-214.9 |
6.1 |
0.34 |
PR20-06 |
RC |
|
-90 |
221.0 |
137.2-182.9 |
45.7 |
0.85 |
Including |
138.7-144.8 |
6.1 |
2.20 |
Including |
173.8-178.4 |
4.6 |
1.93 |
|
205.8-218.0 |
12.2 |
1.72 |
PR20-07 |
RC |
|
-90 |
190.5 |
125.0-190.5 |
65.5 |
0.53 |
PR20-08 |
RC |
|
-90 |
155.4 |
105.2-112.8 |
7.6 |
0.62 |
|
125.0-131.1 |
6.1 |
0.30 |
PR20-09 |
RC |
|
-90 |
106.7 |
51.8-76.2 |
24.4 |
0.66 |
PR20-10 |
RC |
|
-90 |
100.6 |
54.9-85.4 |
30.5 |
0.58 |
Including |
77.7-83.8 |
6.1 |
1.40 |
PR20-11 |
RC |
|
-90 |
121.9 |
39.6-88.4 |
48.8 |
0.50 |
PR20-12 |
RC |
|
-90 |
161.5 |
126.5-149.4 |
22.9 |
0.66 |
Including |
128.0-134.1 |
6.1 |
1.36 |
PR20-13 |
RC |
|
-90 |
213.4 |
150.9-172.2 |
21.3 |
0.71 |
|
186.0-193.6 |
7.6 |
0.44 |
PR20-14 |
RC |
|
-90 |
237.7 |
147.9-190.6 |
42.7 |
0.92 |
Including |
170.7-178.3 |
7.6 |
2.69 |
|
195.1-202.7 |
7.6 |
0.34 |
PR20-15 |
RC |
|
-90 |
280.4 |
195.1-213.4 |
18.3 |
0.28 |
|
231.7-269.8 |
38.1 |
0.97 |
Including |
245.4-251.5 |
6.1 |
3.73 |
PR20-16 |
RC |
|
-90 |
195.1 |
140.2-155.4 |
15.2 |
0.75 |
|
163.1-178.3 |
15.2 |
0.20 |
PR20-17 |
RC |
|
-90 |
243.8 |
178.4-198.2 |
19.8 |
0.57 |
PR20-18 |
RC |
|
-90 |
295.7 |
227.1-234.7 |
7.6 |
0.35 |
|
242.3-265.2 |
22.9 |
0.84 |
PR20-19 |
RC |
|
-90 |
274.3 |
210.4-274.4 |
64.0 |
0.81 |
Including |
248.4-271.3 |
22.9 |
1.20 |
PR20-20 |
RC |
|
-90 |
240.8 |
186.0-193.6 |
7.6 |
0.28 |
|
201.2-240.8 |
39.6 |
0.45 |
PR20-21 |
RC |
|
-90 |
182.9 |
155.5-161.6 |
6.1 |
0.20 |
PR20-23 |
RC |
|
-90 |
125.0 |
82.3-111.3 |
29.0 |
0.77 |
Including |
88.4-100.6 |
12.2 |
1.28 |
PR20-25 |
RC |
|
-90 |
158.5 |
105.2-120.4 |
15.2 |
0.26 |
PR20-27 |
RC |
|
-90 |
250.0 |
213.4-250.0 |
36.6 |
0.81 |
Including |
225.6-233.3 |
7.6 |
1.52 |
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: “Pinion Phase 4 drilling was completed to reduce drill
spacing for conversion of inferred resource to measured and
indicated resource. The 75 new holes will accomplish this goal,
thereby allowing Phase 4 to be evaluated as part of Pinion reserves
in the on-going feasibility study. Additionally, the thicker
intervals and higher grades located in the southern portion of the
program (PR20-19, -20, -27) provide additional exploration
potential at Pinion along a NW-SE trend.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance:All Gold Standard
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 Sparks,
NV where they were crushed and pulverized. Resulting sample pulps
were digested and analyzed for gold using fire assay fusion and an
atomic absorption spectroscopy (AAS) finish on a 30-gram split at
Bureau Veritas Laboratories facility in Sparks, NV or Hermosillo,
Mexico. 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 at Bureau Veritas Mineral
Laboratories facility in Vancouver, BC. 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 and
interpretations 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.
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, are forward-looking statements or information.
Forward-looking statements or information in this news release
relate to, among other things: obtaining drill results that will
further enhance the Company’s mineral reserves; advancing its South
Railroad Project through permitting and a feasibility study towards
a potential production decision and augmenting this goal by
advancing exploration that contributes value to the South Railroad
Project; and the success related to any future exploration or
development programs.
These forward-looking statements and information
reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: our
mineral reserve and resource estimates and the assumptions upon
which they are based, including geotechnical and metallurgical
characteristics of rock confirming to sampled results and
metallurgical performance; tonnage of ore to be mined and
processed; ore grades and recoveries; assumptions and discount
rates being appropriately applied to the PFS; success of the
Company's projects, including the South Railroad Project; prices
for silver and gold remaining as estimated; currency exchange rates
remaining as estimated; availability of funds for the Company's
projects; capital, decommissioning and reclamation estimates;
mineral reserve and resource estimates and the assumptions upon
which they are based; prices for energy inputs, labour, materials,
supplies and services (including transportation); no labour-
related disruptions; no unplanned delays or interruptions in
scheduled construction and production; all necessary permits,
licenses and regulatory approvals are received in a timely manner;
and the ability to comply with environmental, health and safety
laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release and the Company has made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: fluctuations in
silver and gold prices; fluctuations in prices for energy inputs,
labour, materials, supplies and services (including
transportation); fluctuations in currency markets (such as the
Canadian dollar versus the U.S. dollar); operational risks and
hazards inherent with the business of mining (including
environmental accidents and hazards, industrial accidents,
equipment breakdown, unusual or unexpected geological or structural
formations, cave-ins, flooding and severe weather); inadequate
insurance, or inability to obtain insurance, to cover these risks
and hazards; our ability to obtain all necessary permits, licenses
and regulatory approvals in a timely manner; changes in laws,
regulations and government practices in the United States,
including environmental, export and import laws and regulations;
legal restrictions relating to mining; risks relating to
expropriation; increased competition in the mining industry for
equipment and qualified personnel; the availability of additional
capital; 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). Although the Company has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. 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
Canadian public disclosure standards, including
NI 43-101, differ significantly from the requirements of the SEC
set forth in Industry Guide 7 (“Industry Guide
7”), and information concerning mineralization, deposits,
mineral reserve and resource information contained or referred to
herein may not be comparable to similar information disclosed by
U.S. companies in accordance with Industry Guide 7. In particular,
and without limiting the generality of the foregoing, this news
release uses the terms “measured mineral resources,” ‘‘indicated
mineral resources’’ and ‘‘inferred mineral resources’’. U.S.
investors are advised that, while such terms are recognized and
required by Canadian securities laws, Industry Guide 7 does not
recognize them. U.S. investors should also understand that
“inferred mineral resources” have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of
“inferred mineral resources” exist, are economically or legally
mineable or will ever be upgraded to a higher category. Under
Canadian securities laws, estimated “inferred mineral resources”
may not form the basis of feasibility or pre-feasibility studies
except in rare cases. Disclosure of “contained ounces” in a mineral
resource is permitted disclosure under Canadian securities laws.
However, Industry Guide 7 normally only permits issuers to report
mineralization that does not constitute “reserves” by Industry
Guide 7 standards as in place tonnage and grade, without reference
to unit measures. Accordingly, information concerning mineral
deposits set forth herein may not be comparable with information
made public by companies that report in accordance with Industry
Guide 7.
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
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Sep 2023 to Sep 2024