Gold Standard Reports Additional Infill Drilling Success at the Pinion Oxide Gold Deposit, Carlin Trend, Nevada
June 06 2018 - 6:30AM
Gold Standard Ventures Corp. (
TSX:GSV)
(NYSE AMERICAN:GSV) (“Gold Standard” or the “Company”)
today reported the completion 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. The infill
and geotechnical program included 13,111m of drilling in 127 holes
(refer to Pinion plan and section maps at the following link -
https://goldstandardv.com/lp/Pinion-June2018-drill-maps/).
Results from another 43 Pinion holes are summarized below.
Key Highlights from Pinion:
- On the southwest side of Pinion, seven RC holes (PR18-92, -93,
-95, -96, -97, -98 and -99) returned near-surface intercepts that
are higher-grade than predicted by the resource model, and outside
the current highwall of the resource pit. Intercepts include
12.2m of 1.14 g Au/t in PR18-97; 15.2m of 1.42 g Au/t,
including 6.1m of 3.18 g Au/t in PR18-98; and
12.2m of 0.79 g Au/t in PR18-99. These intercepts are
step-outs to the north and west from PR18-52 (22.9m of 1.17 g Au/t,
including 12.2m of 1.73 g Au/t); PR18-29 (32.0m of
0.68 g Au/t, including 10.7m of 1.38 g Au/t); and
PR18-42 (22.9m of 0.53 g Au/t) (see May 8, 2018 news
release). Collectively, these southwest Pinion drill
intercepts suggest near-surface, oxide resource expansion potential
exists to the south and west of the deposit, where mineralization
remains open.
- On the east side of Pinion, PR18-72 intersected 50.3m of 0.48 g
Au/t; PR18-73 intersected 19.8m of 0.62 g Au/t; PR18-74 intersected
77.7m of 0.54 g Au/t, including 9.1m of 1.90 g Au/t and
6.1m of 1.36 g Au/t; and PR18-76 intersected 16.8m of 1.27
g Au/t including 4.6m of 3.84 g Au/t. These
oxide intercepts are hosted within a thicker portion of the
multilithic host horizon and extend mineralization below the
current resource model.
- Also, on the east side of Pinion, PR18-78 intersected 56.4m of
0.69 g Au/t, including 6.1m of 1.42 g Au/t;
PR18-84 intersected 118.3m of 0.43 g Au/t, including 12.2m
of 1.28 g Au/t; and PR18-85 intersected 86.9m of 0.50 g
Au/t, including 24.4m of 1.05 g Au/t. These
intercepts are thicker and higher-grade than predicted by the
resource model and are located immediately behind the current
highwall of the resource pit.
- Drill holes PR18-72, -73, -74, -76, -78, -84 and -85
established continuity of mineralization at depth and to the east,
in addition to confirming a thicker multilithic breccia host
section than predicted by the resource model. These holes
suggest resource expansion potential exists to the east of the
deposit.
Jonathan Awde, CEO and Director of Gold Standard
commented: “The Pinion development drill program has certainly more
than met our expectations when it comes to resource confirmation.
The next resource estimate later this year should report a higher
grade as well as upgrading inferred material to measured and
indicated. The unexpected bonus is that these latest 43 holes have
confirmed that the deposit also remains open near surface to the
west, south and east. It is clear to us that the Pinion deposit
will continue to grow beyond this year.”
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:
- 22 RC holes and one core hole totaling 4,113m, have been
completed at Jasperoid Wash where a new oxide gold deposit was
discovered in 2017. Drilling this year will reduce spacings
and provide the requisite data for a maiden resource estimate by
the end of 2018. Assay results are pending for all 2018 drill
holes.
- 156 infill and development drill holes, totaling 18,038m, have
been completed at the Dark Star and Pinion oxide gold
deposits. With this news release, results have now been
reported for 128 of the 156 holes that have been completed.
Approximately 140 drill holes remain as part of the Dark Star
development program. Geotechnical characterization studies
are underway at Dark Star and Pinion to determine the pit slope
angles appropriate for the project.
- Also on the exploration front, eight RC scout holes, totaling
3,626m, have been completed on new exploration targets west of
Dixie and west of the Dark Star deposit, 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) |
PR18-31 |
RC |
|
-90 |
36.6 |
0-13.7 |
13.7 |
0.71 |
Including |
7.6-13.7 |
6.1 |
1.14 |
PR18-32 |
RC |
|
-90 |
79.2 |
4.6-22.9 |
18.3 |
0.60 |
|
|
|
|
|
62.5-70.1 |
7.6 |
1.14 |
PR18-33 |
RC |
|
-90 |
73.2 |
0-3.1 |
3.1 |
0.24 |
PR18-34 |
RC |
270 |
-81 |
79.2 |
No assays >0.14 g Au/t |
PR18-35 |
RC |
|
-90 |
54.9 |
No assays >0.14 g Au/t |
PR18-36 |
RC |
|
-90 |
39.6 |
3.1-21.3 |
18.2 |
0.25 |
PR18-37 |
RC |
|
-90 |
48.8 |
15.2-18.3 |
3.1 |
0.16 |
PR18-38 |
RC |
|
-90 |
67.1 |
No assays >0.14 g Au/t |
PR18-39 |
RC |
|
-90 |
42.7 |
19.8-25.9 |
6.1 |
1.03 |
PR18-67 |
RC |
|
-90 |
30.5 |
No assays >0.14 g Au/t |
PR18-68 |
RC |
90 |
-84 |
147.8 |
111.3-144.8 |
33.5 |
0.59 |
Including |
120.4-128.0 |
7.6 |
1.02 |
PR18-69 |
RC |
|
-90 |
51.8 |
7.6-35.0 |
27.4 |
0.29 |
|
47.2-51.8 |
4.6 |
0.34 |
PR18-70 |
RC |
270 |
-60 |
61.0 |
0-9.1 |
9.1 |
0.25 |
|
16.8-22.9 |
6.1 |
0.18 |
30.5-39.6 |
9.1 |
0.15 |
51.8-54.9 |
3.1 |
0.40 |
PR18-71 |
RC |
270 |
-73 |
195.1 |
115.8-173.8 |
58.0 |
0.44 |
Including |
128.0-132.6 |
4.6 |
1.39 |
PR18-72 |
RC |
270 |
-77 |
243.8 |
140.2-190.5 |
50.3 |
0.48 |
|
210.3-214.9 |
4.6 |
0.27 |
222.6-243.9 |
21.3 |
0.29 |
PR18-73 |
RC |
90 |
-82 |
225.6 |
138.7-158.5 |
19.8 |
0.62 |
|
198.2-225.6 |
27.4 |
0.34 |
PR18-74 |
RC |
270 |
-82 |
207.3 |
129.6-207.3 |
77.7 |
0.54 |
IncludingIncluding |
134.2-143.3 |
9.1 |
1.90 |
152.4-158.5 |
6.1 |
1.36 |
PR18-75 |
RC |
270 |
-81 |
201.2 |
143.3-147.9 |
4.6 |
0.45 |
|
154.0-192.1 |
38.1 |
0.38 |
PR18-76 |
RC |
90 |
-85 |
210.3 |
164.6-179.8 |
15.2 |
0.33 |
Including |
187.5-204.3 |
16.8 |
1.27 |
189.0-193.6 |
4.6 |
3.84 |
PR18-77 |
RC |
270 |
-70 |
207.3 |
141.7-190.5 |
48.8 |
0.56 |
PR18-78 |
RC |
90 |
-83 |
237.7 |
48.8-54.9 |
6.1 |
0.23 |
|
|
|
|
|
70.1-71.6 |
1.5 |
1.82 |
|
|
|
|
|
108.2-120.4 |
12.2 |
0.21 |
|
|
|
|
|
181.4-237.8 |
56.4 |
0.69 |
|
|
|
|
Including |
199.7-205.8 |
6.1 |
1.42 |
|
|
|
|
|
224.1-234.8 |
10.7 |
1.02 |
PR18-79 |
RC |
90 |
-69 |
131.1 |
89.9-118.9 |
29.0 |
0.62 |
|
89.9-102.1 |
12.2 |
1.06 |
PR18-80 |
RC |
270 |
-71 |
111.3 |
80.7-88.4 |
10.7 |
1.07 |
PR18-81 |
RC |
|
-90 |
77.7 |
10.7-47.3 |
36.6 |
0.65 |
|
53.4-54.9 |
1.5 |
0.21 |
59.5-61.0 |
1.5 |
0.30 |
PR18-82 |
RC |
90 |
-80 |
79.2 |
41.2-59.5 |
18.3 |
0.26 |
|
71.6-73.1 |
1.5 |
0.27 |
PR18-83 |
RC |
|
-90 |
132.6 |
100.6-109.7 |
9.1 |
0.43 |
PR18-84 |
RC |
90 |
-80 |
237.7 |
105.2-224.1 |
118.9 |
0.43 |
Including |
117.4-129.6 |
12.2 |
1.28 |
PR18-85 |
RC |
90 |
-87 |
169.2 |
82.3-169.2 |
86.9 |
0.50 |
Including |
82.3-106.7 |
24.4 |
1.05 |
PR18-86 |
RC |
|
-90 |
76.2 |
0-1.5 |
1.5 |
0.41 |
Including |
41.1-51.8 |
10.7 |
1.43 |
42.7-47.3 |
4.6 |
2.51 |
PR18-87 |
RC |
|
-90 |
61.0 |
35.1-42.7 |
7.6 |
1.28 |
PR18-88 |
RC |
|
-90 |
54.9 |
3.1-35.1 |
32.0 |
0.46 |
PR18-89 |
RC |
|
-90 |
67.1 |
10.7-16.8 |
6.1 |
0.21 |
|
35.1-41.2 |
6.1 |
0.45 |
54.8-59.4 |
4.6 |
0.29 |
PR18-90 |
RC |
|
-90 |
42.7 |
0-22.9 |
22.9 |
0.65 |
Including |
10.7-16.8 |
6.1 |
1.77 |
PR18-91 |
RC |
270 |
-69 |
112.8 |
62.5-70.1 |
7.6 |
0.99 |
PR18-92 |
RC |
90 |
-62 |
91.4 |
62.5-88.4 |
25.9 |
0.46 |
PR18-93 |
RC |
|
-90 |
76.2 |
0-3.1 |
3.1 |
0.25 |
|
39.6-48.7 |
9.1 |
0.55 |
54.9-67.1 |
12.2 |
0.48 |
PR18-94 |
RC |
|
-90 |
76.2 |
No assays >0.14 g Au/t |
PR18-95 |
RC |
|
-90 |
82.3 |
0-4.6 |
4.6 |
0.16 |
|
51.8-57.9 |
6.1 |
0.72 |
PR18-96 |
RC |
|
-90 |
76.2 |
0-3.1 |
3.1 |
0.24 |
|
44.2-47.3 |
3.1 |
0.74 |
59.5-68.6 |
9.1 |
0.61 |
PR18-97 |
RC |
|
-90 |
97.5 |
65.5-77.7 |
12.2 |
1.14 |
Including |
65.5-71.6 |
6.1 |
2.12 |
PR18-98 |
RC |
|
-90 |
106.7 |
0-3.1 |
3.1 |
0.66 |
Including |
36.6-51.8 |
15.2 |
1.42 |
39.6-45.7 |
6.1 |
3.18 |
PR18-99 |
RC |
|
-90 |
76.2 |
0-3.1 |
3.1 |
0.31 |
|
30.5-42.7 |
12.2 |
0.79 |
PR18-100 |
RC |
|
-90 |
85.3 |
51.8-80.8 |
29.0 |
0.46 |
Including |
70.1-76.2 |
6.1 |
1.14 |
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: “Thinking beyond the PEA currently in progress,
the completion of the Pinion program reduced drill spacing on the
project to 30m. This will be a key driver in moving the
resource to measured and indicated status for prefeasibility
studies planned in 2019. At present assays remain outstanding
on metallurgical core drilling (27 holes) at Pinion. Material
from these holes will be used to further the metallurgical studies
on the project, including high pressure grind roll crushing
currently under review. Initial results suggest positive
impacts to the recovery aspects of the Pinion project.”
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 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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