Gold Standard Ventures Corp. (TSX:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company) today reported on
the status of the 2018 infill drilling program at the Dark Star and
Pinion oxide gold deposits on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend. Two
reverse-circulation (RC) and two core rigs have completed 4,605m of
infill drilling in 28 infill holes in the northern portion of Dark
Star (refer to Dark Star plan map at the following link -
https://goldstandardv.com/lp/ds-apr11-2018-drill-maps/ ). These
four rigs have now moved to the Pinion deposit where 5,450m of
infill drilling has been completed in 62 holes. Results from
25 Dark Star holes are summarized below.
This year’s US$25.8 million program includes an
estimated 74,800m of RC and core drilling in 381 holes (see
February 26, 2018 news release). Infill and development work
at Dark Star and Pinion is expected to account for approximately
40,800m of drilling in 296 holes while exploration should add
another 34,000m of drilling in 85 holes. The 2018 program
objectives are:
- Infill and development drilling at the Dark Star and Pinion
oxide gold deposits to reduce drill spacing to approximately 30m;
convert Inferred resources to the Measured and Indicated
categories; and define the limits of the gold zones, some of which
could be expanded by the program.
- Exploration drilling at Jasperoid Wash to test new
high-priority targets, and to reduce drill spacings and provide
requisite data for a maiden resource estimate by the end of
2018. It’s important to note that from Gold Standard’s first
2017 Jasperoid Wash drill hole to a maiden resource estimate, this
process will be completed in approximately 14 months.
- Drilling to test new high-value targets at Dixie, the Dark Star
Corridor, Ski Track and elsewhere within the Railroad
District.
Jonathan Awde, CEO and Director of Gold Standard
commented: “This is a very aggressive program designed to generate
the data for a revaluation of the Railroad-Pinion Project. Over the
past four years, we have demonstrated that the small Pinion deposit
we acquired in 2014 was just a part of a much larger Carlin system.
We have added discoveries, expanded them and proved that they are
metallurgically receptive to high recoveries using heap leach
technology. We aim to confirm this year that Railroad-Pinion can be
the next successful mine on the Carlin Trend.”
Key Highlights from Dark
Star:
- On the western side of Dark Star, DR18-06 intersected 53.4m of
0.92 g Au/t, including 6.1 of 2.47 g Au/t; and
77.7m of 1.57 g Au/t, including 9.1m of 4.74 g
Au/t. DR18-07 intersected 132.6m of 0.63 g Au/t,
including 16.8m of 1.58 g Au/t. These
results, along with results in DR18-04 and DR18-05, outperform what
was predicted in the resource block model by extending gold
mineralization below the current resource model and to the west of
the Ridgeline fault.
- DR18-19 intersected 126.5m of 1.18 g Au/t, including
25.9m of 2.43 g Au/t. This intercept is thicker than
predicted by the resource block model.
- DR18-08 intersected 80.8m of 1.56 g Au/t, including
27.4m of 3.03 g Au/t. This intercept is higher grade
than predicted by the resource block model.
- In March, the Company bought down a strategic net smelter
royalty (NSR) from 5% to 2%. The NSR covers portions of the
Dark Star and Pinion gold deposits.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DS17-36* |
Core |
270 |
-85 |
256.1 |
110.6-123.3 |
12.7 |
0.23 |
|
127.7-129.2 |
1.5 |
0.15 |
131.7-132.9 |
1.2 |
0.16 |
136.7-150.1 |
13.4 |
0.32 |
155.5-166.5 |
11.0 |
0.31 |
DR18-01 |
RC |
|
-90 |
182.9 |
144.8-146.3 |
1.5 |
0.15 |
DR18-02 |
RC |
|
-90 |
161.5 |
No assays >0.14 g Au/t |
DR18-03 |
RC |
|
-90 |
152.4 |
No assays >0.14 g Au/t |
DR18-04 |
RC |
|
-90 |
135.6 |
27.4-62.5 |
35.1 |
0.19 |
IncludingIncluding |
68.6-135.7 |
67.1 |
1.03 |
85.4-94.5 |
9.1 |
2.61 |
108.2-117.3 |
9.1 |
1.30 |
DR18-05 |
RC |
|
-90 |
106.7 |
28.9-83.8 |
54.9 |
0.22 |
|
88.4-99.1 |
10.7 |
0.28 |
DR18-06 |
RC |
|
-90 |
182.9 |
27.4-80.8 |
53.4 |
0.92 |
IncludingIncluding
IncludingIncluding |
29.0-38.1 |
9.1 |
1.88 |
50.3-56.4 |
6.1 |
2.47 |
88.4-166.1 |
77.7 |
1.57 |
89.9-112.8 |
22.9 |
2.39 |
155.5-164.6 |
9.1 |
4.74 |
DR18-07 |
RC |
270 |
-74 |
152.4 |
19.8-152.4 |
132.6 |
0.63 |
IncludingIncluding |
117.4-134.2 |
16.8 |
1.58 |
89.9-99.0 |
9.1 |
1.18 |
DR18-08 |
RC |
|
-90 |
198.1 |
70.1-71.6 |
1.5 |
0.16 |
Including |
85.4-166.2 |
80.8 |
1.56 |
108.2-135.6 |
27.4 |
3.03 |
169.2-181.4 |
12.2 |
0.19 |
DR18-09 |
RC |
270 |
-83 |
135.6 |
30.5-50.3 |
19.8 |
0.15 |
|
59.5-65.6 |
6.1 |
0.18 |
71.6-132.6 |
61.0 |
0.27 |
DR18-10 |
RC |
|
-90 |
175.3 |
10.7-13.8 |
3.1 |
0.19 |
IncludingIncluding |
18.2-21.3 |
3.1 |
0.15 |
41.2-47.3 |
6.1 |
0.20 |
54.9-175.3 |
120.4 |
0.78 |
132.6-146.3 |
13.7 |
1.73 |
153.9-164.6 |
10.7 |
1.65 |
DR18-11 |
RC |
|
-90 |
140.2 |
108.2-112.8 |
4.6 |
0.23 |
|
123.4-134.1 |
10.7 |
0.16 |
DR18-12 |
RC |
|
-90 |
123.4 |
No assays >0.14 g Au/t |
DR18-13 |
RC |
|
-90 |
141.7 |
89.9-114.3 |
24.4 |
0.57 |
|
122.0-131.9 |
9.1 |
0.23 |
DR18-14 |
RC |
|
-90 |
172.2 |
No assays >0.14 g Au/t |
DR18-15 |
RC |
|
-90 |
190.5 |
39.6-47.2 |
7.6 |
0.23 |
|
64.0-129.5 |
65.5 |
0.25 |
135.6-137.1 |
1.5 |
0.16 |
149.3-152.4 |
3.1 |
0.20 |
175.3-176.8 |
1.5 |
0.22 |
DR18-16 |
RC |
|
-90 |
137.2 |
53.3-96.0 |
42.7 |
0.28 |
|
108.2-129.5 |
21.3 |
0.18 |
DR18-17 |
RC |
|
-90 |
175.3 |
73.2-79.3 |
6.1 |
0.30 |
|
106.7-135.7 |
29.0 |
0.28 |
DR18-18 |
RC |
|
-90 |
175.3 |
83.8-117.3 |
33.5 |
1.30 |
Including |
97.5-108.2 |
10.7 |
2.58 |
131.1-132.6 |
1.5 |
0.15 |
160.0-163.1 |
3.1 |
0.19 |
170.7-172.2 |
1.5 |
0.24 |
DR18-19 |
RC |
|
-90 |
221.0 |
54.9-74.7 |
19.8 |
1.55 |
Including
IncludingIncluding |
62.5-68.6 |
6.1 |
3.93 |
86.9-213.4 |
126.5 |
1.18 |
111.3-137.2 |
25.9 |
2.43 |
147.9-167.7 |
19.8 |
1.43 |
DR18-20 |
RC |
270 |
-85 |
140.2 |
47.3-137.2 |
89.9 |
0.48 |
Including |
112.8-120.4 |
7.6 |
2.85 |
DR18-21 |
RC |
|
-90 |
170.7 |
51.8-53.3 |
1.5 |
0.33 |
IncludingIncluding |
61.0-79.3 |
18.3 |
0.24 |
86.9-163.1 |
76.2 |
0.56 |
115.8-121.9 |
6.1 |
2.30 |
152.4-158.5 |
6.1 |
1.40 |
DR18-22 |
RC |
270 |
-78 |
96.0 |
3.1-4.6 |
1.5 |
0.20 |
|
10.7-12.2 |
1.5 |
0.18 |
22.9-30.5 |
7.6 |
0.20 |
DR18-23 |
RC |
|
-90 |
125.0 |
25.9-38.1 |
12.2 |
0.21 |
DR18-24 |
RC |
|
-90 |
195.1 |
15.2-41.1 |
25.9 |
0.96 |
Including |
15.2-18.3 |
3.1 |
2.54 |
169.2-173.8 |
4.6 |
0.19 |
186.0-187.5 |
1.5 |
0.31 |
193.6-195.1 |
1.5 |
0.27 |
DR18-25 |
RC |
|
-90 |
201.2 |
Assays pending |
DR18-26 |
RC |
|
-90 |
249.9 |
Assays pending |
DC18-01 |
Core |
090 |
-78 |
195.1 |
Assays pending |
DC18-02 |
Core |
090 |
-78 |
171.0 |
Assays pending |
|
|
|
|
|
|
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff. Weighted averaging has
been used to calculate all reported intervals. True widths
are estimated at 70-90% of drilled thicknesses.
*Results from the lower half of DS17-36 returned
additional zones of mineralization beneath the original intercept
of 73.0m of 1.60 g Au/t, including 25.8m of 3.25 g
Au/t (see January 23, 2018 news release). DS17-36 is
approximately 165m south of DS17-37 (141.8m of 3.32 g Au/t,
including 25.9m of 8.63 g Au/t - - see January 23, 2018 news
release). These results confirm the resource block
model.
DR18-01 and DR18-02 to the north, and DR18-03,
DR18-11 through DR18-14, encountered no significant mineralization
and confirm the known limit of the gold zone on the northeast and
east sides of the deposit. These results were as expected based on
the current resource model.
Don Harris, Gold Standard’s Senior Development
Geologist stated: “The infill program at Dark Star and Pinion is
rapidly progressing during the first half of 2018. We are
excited about this new chapter in GSV history, as drilling steps
from exploration to development. Reducing drill spacing is
critical for producing a measured and indicated resource for
utilization in prefeasibility work on the project. Results to
date have confirmed or exceeded our model expectations.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality AssuranceAll 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 or certified
reference material 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. 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 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 Gold 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 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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