Gold Standard Infill Drilling Expands the Resource Potential at the Pinion Oxide Gold Deposit, Carlin Trend, Nevada
May 08 2018 - 6:30AM
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 Pinion oxide
gold deposit on its 100%-owned/controlled Railroad-Pinion Project
in Nevada’s Carlin Trend. To date, two reverse-circulation
(“RC”) and two core rigs have completed 11,402m of infill and
geotechnical drilling in 111 holes at Pinion (refer to Pinion plan
map at the following link –
https://goldstandardv.com/lp/Pinion-may2018-drill-maps/).
Results from another 35 Pinion holes are summarized below.
Key Highlights from Pinion:
- On the southwest side of Pinion, PR18-52 intersected 22.9m of
1.17 g Au/t, including 12.2m of 1.73 g Au/t;
PR18-29 intersected 32.0m of 0.68 g Au/t, including 10.7m
of 1.38 g Au/t; and PR18-42 intersected 22.9m of 0.53 g
Au/t. These intercepts are near-surface, higher-grade than
predicted by the resource model, and are outside of the west
highwall of the resource pit. Collectively, these drill
intercepts suggest near-surface, oxide resource expansion potential
exists to the southwest of the deposit.
- Also, on the southwest side of Pinion, PR18-47 intersected
12.2m of 1.62 g Au/t, including 6.1m of 2.74 g
Au/t; PR18-60 intersected 18.3m of 1.20 g Au/t,
including 6.1m of 2.62 g Au/t; PR18-27 intersected
10.7m of 2.96 g Au/t; PR18-22 intersected 16.8m of 1.35 g Au/t; and
PR18-48 intersected 15.2m of 0.91 g Au/t, including 4.6m of
1.95 g Au/t. These intercepts are near-surface,
higher-grade than predicted by the resource model, and have higher
AuCN ratios (73-87%) than currently modeled. AuCN ratios are
a first-pass estimate of the potential gold recovery and ratios
>70% are indicative of an oxide deposit.
- Along strike to the southeast of the Main Zone, PR18-26
intersected 77.7m of 0.77 g Au/t, including 19.8m of 1.49 g
Au/t. The intercept is thicker and higher-grade than
predicted by the resource block model.
- Along strike to the northwest of the Main Zone, PR18-45
returned 50.3m of 0.60 g Au/t, including 18.3m of 1.10 g
Au/t. Mineralization begins at the topographic
surface, and is thicker and higher-grade than predicted by the
resource block model.
Jonathan Awde, CEO and Director of Gold Standard
commented: “This year’s very ambitious drill program remains on
time and within budget thanks to good planning and execution by our
team. At every step of the way, we see confirmation of the size and
strength of the mineralizing system on our claims in south Carlin.
The results from infill drilling are more than meeting expectations
but we believe the best upside surprises are likely to come from
the exploration drilling which is now getting underway.”
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). Of this amount, Dark Star
and Pinion infill drilling is expected to account for approximately
40,800m in 296 holes while exploration should add another 34,000m
of drilling in 85 holes. The current status of this work is
as follows:
- A 25 to 30-hole Phase 1 exploration program is underway at
Jasperoid Wash where a new oxide gold deposit was discovered in
2017. Drilling this year with two RC rigs will reduce
spacings and provide the requisite data for a maiden resource
estimate by the end of 2018. Drilling will follow-up last
year’s results of 103.7m of 0.56 g including 30.5m of 0.93
g Au/t in JW17-01 (see October 5, 2017 news release); 54.9
m of 0.89 g Au/t including 12.2m of 1.66 g Au/t in
JW17-04, 30.5m of 0.73 g Au/t in JW17-08 and 77.7m of 0.48 g Au/t
in JW17-10 (see January 11, 2018 news release).
- 139 infill and development drill holes, totaling 15,736m, have
been completed at the Dark Star and Pinion oxide gold
deposits. With this news release, results have now been
reported for 81 of the 139 holes that have been completed.
Approximately 157 drill holes remain as part of the Dark Star and
Pinion development program. Infill drilling will resume at
Dark Star in mid-May. Geotechnical characterization studies
are underway at Pinion and Dark Star to determine the pit slope
angle appropriate for the project.
- Also on the exploration front, 19.4 line-km of CSAMT have been
completed at the new Ski Track target, which is along the
northwestern extension of the Jasperoid Wash structural
corridor. CSAMT is a geophysical tool that has proved to be
very useful in locating drill targets at Railroad-Pinion. Three RC
scout holes, totaling 1,358m, have been completed on new
exploration targets west of Dixie, for which assays results are
awaited.
Pinion drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
PR18-17 |
RC |
90 |
-78 |
135.6 |
89.9-134.1 |
44.2 |
0.44 |
PR18-18 |
RC |
90 |
-78 |
170.7 |
88.4-129.6 |
41.2 |
0.43 |
|
137.2-141.8 |
4.6 |
0.34 |
PR18-19 |
RC |
|
-90 |
85.3 |
50.3-64.0 |
13.7 |
0.65 |
Including |
54.9-59.5 |
4.6 |
1.60 |
PR18-20 |
RC |
90 |
-79 |
157.0 |
18.3-19.8 |
1.5 |
0.32 |
|
108.2-131.1 |
22.9 |
0.52 |
141.8-143.3 |
1.5 |
0.20 |
PR18-22 |
RC |
|
-90 |
59.4 |
0-16.8 |
16.8 |
1.35 |
|
29.0-36.6 |
7.6 |
0.32 |
PR18-26 |
RC |
90 |
-75 |
146.3 |
68.6-146.3 |
77.7 |
0.77 |
Including |
111.3-131.1 |
19.8 |
1.49 |
PR18-27 |
RC |
|
-90 |
61.0 |
24.4-35.1 |
10.7 |
2.96 |
|
45.7-60.9 |
15.2 |
0.26 |
PR18-29 |
RC |
|
-90 |
89.9 |
57.9-89.9 |
32.0 |
0.68 |
Including |
59.4-70.1 |
10.7 |
1.38 |
PR18-31 |
RC |
|
-90 |
36.6 |
Assays pending |
PR18-32 |
RC |
|
-90 |
79.2 |
Assays pending |
PR18-33 |
RC |
|
-90 |
73.2 |
Assays pending |
PR18-34 |
RC |
270 |
-81 |
79.2 |
Assays pending |
PR18-35 |
RC |
|
-90 |
54.9 |
Assays pending |
PR18-36 |
RC |
|
-90 |
39.6 |
Assays pending |
PR18-37 |
RC |
|
-90 |
48.8 |
Assays pending |
PR18-38 |
RC |
|
-90 |
67.1 |
Assays pending |
PR18-39 |
RC |
|
-90 |
42.7 |
Assays pending |
PR18-40 |
RC |
90 |
-71 |
114.3 |
61.0-96.0 |
35.0 |
0.56 |
|
99.1-100.6 |
1.5 |
0.26 |
PR18-41 |
RC |
|
-90 |
76.2 |
54.9-65.6 |
10.7 |
0.87 |
PR18-42 |
RC |
|
-90 |
96.0 |
68.6-91.5 |
22.9 |
0.53 |
PR18-43 |
RC |
|
-90 |
45.7 |
22.8-28.9 |
6.1 |
0.31 |
PR18-44 |
RC |
|
-90 |
30.5 |
0-10.7 |
10.7 |
0.28 |
PR18-45 |
RC |
|
-90 |
65.5 |
0-50.3 |
50.3 |
0.60 |
Including |
1.5-19.8 |
18.3 |
1.10 |
PR18-46 |
RC |
90 |
-86 |
230.1 |
123.5-125.0 |
1.5 |
0.38 |
PR18-47 |
RC |
|
-90 |
54.9 |
22.9-35.1 |
12.2 |
1.62 |
Including |
22.9-29.0 |
6.1 |
2.74 |
41.2-42.7 |
1.5 |
0.30 |
PR18-48 |
RC |
|
-90 |
45.7 |
10.7-25.9 |
15.2 |
0.91 |
Including |
13.7-18.3 |
4.6 |
1.95 |
PR18-49 |
RC |
90 |
-85 |
190.5 |
128.0-160.0 |
32.0 |
0.54 |
Including |
134.1-138.7 |
4.6 |
1.33 |
PR18-50 |
RC |
90 |
-83 |
210.3 |
91.4-170.7 |
79.3 |
0.60 |
Including |
128.0-138.7 |
10.7 |
1.76 |
PR18-51 |
RC |
|
-90 |
103.6 |
68.6-73.2 |
4.6 |
0.29 |
|
89.9-103.6 |
13.7 |
0.21 |
PR18-52 |
RC |
|
-90 |
79.2 |
0-3.1 |
3.1 |
0.28 |
Including |
56.4-79.3 |
22.9 |
1.17 |
57.9-70.1 |
12.2 |
1.73 |
PR18-53 |
RC |
|
-90 |
85.3 |
0-3.1 |
3.1 |
0.92 |
|
61.0-73.2 |
12.2 |
0.43 |
PR18-54 |
RC |
|
-90 |
57.9 |
19.8-27.4 |
7.6 |
0.67 |
PR18-55 |
RC |
|
-90 |
85.3 |
50.3-57.9 |
7.6 |
0.81 |
PR18-56 |
RC |
|
-90 |
71.6 |
38.1-56.4 |
18.3 |
0.38 |
|
60.9-64.0 |
3.1 |
0.37 |
PR18-57 |
RC |
|
-90 |
61.0 |
0-4.6 |
4.6 |
0.33 |
|
24.4-32.0 |
7.6 |
0.62 |
PR18-58 |
RC |
90 |
-62 |
65.5 |
56.4-65.5 |
9.1 |
0.82 |
PR18-59 |
RC |
90 |
-62 |
91.4 |
53.4-62.5 |
9.1 |
0.45 |
|
71.6-73.1 |
1.5 |
0.41 |
77.7-88.4 |
10.7 |
0.24 |
PR18-60 |
RC |
|
-90 |
39.6 |
1.5-19.8 |
18.3 |
1.20 |
Including |
4.6-10.7 |
6.1 |
2.62 |
PR18-61 |
RC |
|
-90 |
73.2 |
0-10.7 |
10.7 |
1.08 |
|
15.2-28.9 |
13.7 |
0.27 |
PR18-62 |
RC |
|
-90 |
76.2 |
67.0-70.1 |
3.1 |
0.29 |
PR18-63 |
RC |
|
-90 |
79.2 |
1.5-33.5 |
32.0 |
0.44 |
PR18-64 |
RC |
|
-90 |
51.8 |
3.1-15.2 |
12.1 |
0.27 |
PR18-65 |
RC |
|
-90 |
53.3 |
50.3-53.4 |
3.1 |
0.22 |
PR18-66 |
RC |
|
-90 |
30.5 |
4.6-30.5 |
25.9 |
0.35 |
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.
Don Harris, Gold Standard’s Senior Development
Geologist stated: “The Pinion project has been explored for the
past 35 years by a number of companies. The 2018 Gold
Standard program is the first concentrated effort to bring the
deposit forward to a production decision. This year’s drill program
along with ongoing metallurgy and engineering studies will provide
the necessary data for gold recovery, processing options, and
operating costs in the PEA now in progress. Additionally,
drilling results indicate the opportunity to grow the potentially
minable portion of the deposit to the west, and that a higher grade
(> 1gpt Au) core to the deposit has better lateral continuity
then currently modeled. These, combined with the higher gold
ratios in key areas could enhance the project economics.”
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 or American Assay Laboratories Inc. in Sparks, NV where
they were crushed and pulverized. Resulting sample pulps were
shipped to Bureau Veritas certified laboratory in Sparks, NV or
Vancouver, BC, or remained with American Assay Laboratories Inc. in
Sparks, NV. 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. 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 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 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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