Gold Standard Ventures Corp. (TSX:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company”) today reported
results from 19 reverse-circulation (“RC”) drill holes at the Dark
Star deposit on its 100%-owned/controlled Railroad-Pinion Project
in Nevada’s Carlin Trend. The exceptional results confirm
that the Dark Star Deposit may be emerging as a major Carlin gold
occurrence where a larger-than-expected Ridgeline Fault System has
played a significant role in concentrating higher grade gold.
To date, 17,624m of infill, step-out and
geotechnical drilling have been completed in 105 RC and core holes
at Dark Star (refer to Dark Star plan map at the following link –
https://goldstandardv.com/lp/ds-jul17-2018-drill-maps/). With
this news release, results have now been reported for 47 of the 105
holes that have been completed. Results from another 19 Dark
Star holes are summarized below.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Essentially, our infill drilling campaign has morphed
into fresh exploration. As is the norm for infill work, we are
drilling to find the limits of the deposit and we are frequently
not finding the limits, laterally and especially at depth. For the
most part, past work at Dark Star focused on the shallow part of
the system. We now believe significant expansion is likely at
depth. It appears that the known surface deposits could potentially
progress into deeper high-grade underground deposits coinciding
with robust fault structures such as the Ridgeline system.
Follow-up drilling is planned to pursue these exciting concepts in
the current program.”
Key Highlights from Dark
Star:
- Drill holes DR18-43, -44 and -45 returned thick, high-grade
oxide gold intercepts that remain open at depth.
- DR18-43, an RC hole approximately 50m east 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), intersected
213.4m of 2.39 g Au/t, including two higher-grade zones of
41.2m of 5.79 g Au/t and 10.7m of 7.75 g Au/t. These
results outperform what was predicted in the resource block model
by extending oxide gold mineralization closer to the current
topographic surface and below the current resource model by
approximately 20m. The intercept is open at depth,
where the hole bottomed in 1.89 g Au/t at
243.9m.
- DR18-44, an RC step-out hole approximately 30m east of DS17-35
(237.8m of 2.96 g Au/t, including 93.0m of
5.06 g Au/t - see January 23, 2018 news release),
intersected multiple zones of oxide mineralization including: 62.5m
of 1.22 g Au/t; and 137.2m of 2.72 g Au/t, including 15.2m
of 7.84 g Au/t and 30.5m of 4.68 g Au/t. These
intercepts are higher-grade and thicker than predicted by the
resource model. Mineralization extends approximately 30m
above the current resource model. The intercept is
open at depth, where the hole bottomed in 2.01 g Au/t at
259.1m.
- DR18-45, an RC step-out hole approximately 60m south of DR18-43
and approximately 35m east of DS17-30 (164.6m of 2.26 g Au/t,
including 16.8m of 4.12 g Au/t
and 36.6m of 3.51 g Au/t – see December 7, 2017
news release), intersected 132.6m of 1.09 g Au/t, including
two higher-grade zones of 12.2m of 2.30 g Au/t and 12.2m of
3.56 g Au/t. This intercept confirms the block
model, but more importantly, extends mineralization approximately
30m below the resource model. This intercept also
remains open at depth where the hole ended in 6.37 g Au/t at
225.6m.
- DR18-37, the northern-most step-out drill hole at Dark Star,
intersected two near-surface zones of oxide mineralization
including 30.5m of 0.34 g Au/t and 62.5m of 0.35 g Au/t.
These intercepts are higher-grade and thicker than predicted by the
resource model, and the mineralization remains open to the north
for additional drill testing.
- Currently in the northern portion of Dark Star, 12
drill holes end in gold mineralization below the current resource
model. Collectively, these results provide an
opportunity to expand the resource in the hanging wall and footwall
of the Ridgeline fault, and at depth. The expansion of this
zone will be a focus of upcoming drilling.
|
Dark Star drill results are as follows: |
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR18-27 |
RC |
|
-90 |
85.3 |
0-6.1 |
6.1 |
0.25 |
|
42.6-45.7 |
3.1 |
0.22 |
DR18-28 |
RC |
|
-90 |
67.1 |
0-3.1 |
3.1 |
0.22 |
|
30.5-51.8 |
21.3 |
0.20 |
DR18-29 |
RC |
|
-90 |
67.1 |
0-21.3 |
21.3 |
0.27 |
|
27.4-35.0 |
7.6 |
0.17 |
DR18-30 |
RC |
90 |
-75 |
108.2 |
38.1-45.7 |
7.6 |
0.24 |
|
51.8-59.4 |
7.6 |
0.21 |
DR18-31 |
RC |
90 |
-50 |
157.0 |
22.8-39.6 |
16.8 |
0.46 |
DR18-32 |
RC |
|
-90 |
85.3 |
13.7-27.4 |
13.7 |
0.36 |
DR18-33 |
RC |
|
-90 |
140.2 |
62.5-67.1 |
4.6 |
0.25 |
|
105.2-112.8 |
7.6 |
0.15 |
DR18-34 |
RC |
|
-90 |
167.6 |
158.5-167.6 |
9.1 |
0.17 |
DR18-35 |
RC |
|
-90 |
175.3 |
100.6-137.2 |
36.6 |
0.42 |
Including |
108.2-112.8 |
4.6 |
1.45 |
DR18-36 |
RC |
90 |
-45 |
100.6 |
70.1-77.7 |
7.6 |
0.17 |
DR18-37 |
RC |
90 |
-70 |
170.7 |
27.4-35.0 |
7.6 |
0.25 |
|
38.1-68.6 |
30.5 |
0.34 |
|
79.3-141.8 |
62.5 |
0.35 |
DR18-38 |
RC |
|
-90 |
144.8 |
64.0-74.7 |
10.7 |
0.42 |
|
|
|
|
|
79.2-83.8 |
4.6 |
0.20 |
|
|
|
|
|
102.1-117.3 |
15.2 |
0.46 |
DR18-39 |
RC |
|
-90 |
167.6 |
158.5-160.0 |
1.5 |
0.27 |
DR18-40 |
RC |
|
-90 |
141.7 |
7.6-12.2 |
4.6 |
0.30 |
|
|
|
|
|
33.5-41.1 |
7.6 |
0.55 |
|
|
|
|
|
94.5-105.2 |
10.7 |
0.14 |
|
|
|
|
|
126.5-141.7 |
15.2 |
0.17 |
DR18-41 |
RC |
90 |
-88 |
256.0 |
39.6-89.9 |
50.3 |
0.72 |
Including |
61.0-73.2 |
12.2 |
1.49 |
|
202.7-256.1 |
53.4 |
0.92 |
Including |
236.3-256.1 |
19.8 |
1.70 |
DR18-42 |
RC |
90 |
-50 |
91.4 |
no assays >0.14 g Au/t |
DR18-43 |
RC |
|
-90 |
243.9 |
30.5-243.9 |
213.4 |
2.39 |
Including |
96.0-137.2 |
41.2 |
5.79 |
Also Including |
118.9-126.5 |
7.6 |
14.30 |
Including |
187.5-198.2 |
10.7 |
7.75 |
Including |
234.7-237.8 |
3.1 |
7.56 |
DR18-44 |
RC |
|
-90 |
259.1 |
24.4-42.7 |
18.3 |
1.31 |
Including |
25.9-38.1 |
12.2 |
1.81 |
|
50.3-112.8 |
62.5 |
1.22 |
Including |
74.7-86.9 |
12.2 |
1.68 |
Including |
99.1-106.7 |
7.6 |
2.22 |
|
121.9-259.1 |
137.2 |
2.72 |
Including |
147.9-163.1 |
15.2 |
7.84 |
Including |
213.4-243.9 |
30.5 |
4.68 |
DR18-45 |
RC |
|
-90 |
225.6 |
38.1-47.2 |
9.1 |
0.47 |
|
|
|
|
|
93.0-225.6 |
132.6 |
1.09 |
|
|
|
|
|
93.0-99.1 |
6.1 |
3.36 |
|
|
|
|
|
117.4-129.6 |
12.2 |
2.30 |
|
|
|
|
|
178.4-186.0 |
7.6 |
1.92 |
|
|
|
|
|
213.4-225.6 |
12.2 |
3.56 |
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. |
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.
Steven Koehler, Gold Standard’s Manager of
Projects commented: “Infill drilling at Dark Star continues to
deliver significant value through the confirmation and expansion of
+1 g Au/t, oxidized, vertically-extensive gold
mineralization. These deep oxidation plumes are a unique,
favorable, repetitive pattern associated with robust gold systems
on the Carlin and Cortez Trends. Infill results continue to
confirm or exceed our model expectations. To date, drilling
has not yet established a bottom to higher-grade gold zones located
proximal to the Ridgeline fault where the gold system remains open
to the north, west and at depth. This openness
represents exciting growth potential and these new opportunities
will be a focus of drilling later this summer.”
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 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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