Gold Standard Ventures Corp. (TSX:GSV)
(NYSE AMERICAN:GSV) (“Gold Standard” or the “Company”)
today reported Phase 1 results from 27 reverse-circulation (“RC”)
holes and one core hole at the Jasperoid Wash Deposit on its
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend (refer to Jasperoid Wash plan map at the following link
https://goldstandardv.com/lp/jw-jul25-2018-drill-maps/).
Jasperoid Wash is located approximately 6 km south of the Pinion
Deposit and 7.5 km southwest of the Dark Star Deposit.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Jasperoid Wash is one of 5 new, priority early-stage
exploration targets being drilled this year. This Phase 1 drilling
at Jasperoid Wash continues to closely resemble the early work at
our Dark Star and Pinion deposits. We are finding shallow,
higher-grade intercepts within a broad, continuous zone of
pervasive, lower-grade oxide gold mineralization. We expect that
this year’s program will enable us to define structural controls
that account for the better grades, as we found at Dark Star and
Pinion, and this will enable Jasperoid Wash to make a valuable
contribution to our Railroad-Pinion resource.”
The 28 holes reported today are a portion of
Gold Standard’s US$25.8 million development and exploration program
which includes an estimated 74,800m of RC and core drilling in 381
holes (see February 26, 2018 news release). The 2018 Jasperoid Wash
Phase 1 program, which totaled 5,027m of drilling, was designed to
(1) reduce spacings to approximately 100m and provide the requisite
data for a maiden resource estimate by the end of 2018; (2) provide
core for metallurgical testing; and (3) test for possible lateral
extensions to the target area.
Key Highlights from Jasperoid
Wash:
- JW18-26 intersected 22.9m of 0.76 g Au/t, including
10.7m of 1.15 g Au/t, and JW18-28 intersected 38.1m of
0.63 g Au/t, including 15.2m of 1.23 g Au/t.
These intercepts begin at or near the current topographic surface
and are the northernmost drill holes completed in the Phase 1
program. Mineralization in these holes remains open to the
north, west and east, and this area will be a focus of a Phase 2
drill program later this summer.
- Core hole JW18-01 intersected 80.8m of 0.53 g Au/t,
which included two higher-grade zones of 6.1m of 1.15 g
Au/t and 4.6m of 1.56 g Au/t. JW18-01 twinned and
verified results in JW17-10, a 2017 RC drill hole that intersected
77.7m of 0.48 g Au/t (see January 11, 2018 news release).
Material from this core hole will be used for column leach
testing.
- JW18-24 intersected 51.8m of 0.58 g Au/t, including
9.1m of 1.01 g Au/t. This intercept is approximately
100m north of JW17-01, a 2017 core hole that intersected 103.7m of
0.56 g Au/t, including a higher-grade zone of 30.5m of 0.93
g Au/t (see October 5, 2017 news release). These new
results further define the lateral continuity of the gold
zone.
- Drilling has outlined a zone approximately 1,150m long
(striking north-northeast) by 650m wide (east-west) of
near-surface, shallow, oxide gold mineralization that remains open
in multiple directions. The 28 current holes continue to
establish lateral continuity of the oxide
mineralization.
- Drilling continues to establish the Pennsylvanian-Permian age
carbonate rocks as an important gold host on the Carlin
Trend. Regionally, this highly prospective carbonate host
section intersects the Carlin Trend in the southern portion of Gold
Standard’s Railroad property. The gold mineralization at
Jasperoid Wash, Dark Star and Dixie occurs in these favorable host
rocks.
Jasperoid Wash drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness(m) |
Grade (g Au/t) |
JW18-01 |
core |
090 |
-50 |
280.1 |
42.1-122.9 |
80.8 |
0.53 |
Including |
43.6-49.7 |
6.1 |
1.15 |
Including |
53.6-58.2 |
4.6 |
1.56 |
|
130.5-145.4 |
14.9 |
0.18 |
JW18-02 |
RC |
090 |
-45 |
211.8 |
18.3-79.3 |
61.0 |
0.23 |
|
112.8-120.4 |
7.6 |
0.20 |
JW18-03 |
RC |
270 |
-45 |
100.6 |
No assays >0.14 g Au/t |
JW18-04 |
RC |
090 |
-45 |
243.8 |
0-7.6 |
7.6 |
0.16 |
|
143.3-161.6 |
18.3 |
0.20 |
JW18-05 |
RC |
090 |
-45 |
182.9 |
No assays >0.14 g Au/t |
JW18-06 |
RC |
090 |
-45 |
182.9 |
24.4-29.0 |
4.6 |
0.24 |
|
64.0-85.3 |
21.3 |
0.30 |
89.9-106.7 |
16.8 |
0.50 |
111.2-140.2 |
29.0 |
0.19 |
JW18-07 |
RC |
270 |
-45 |
182.9 |
79.3-86.9 |
7.6 |
0.26 |
|
91.5-97.6 |
6.1 |
0.62 |
JW18-08 |
RC |
090 |
-45 |
121.9 |
4.6-35.1 |
30.5 |
0.17 |
JW18-09 |
RC |
090 |
-45 |
121.9 |
0-7.6 |
7.6 |
0.20 |
|
19.8-25.9 |
6.1 |
0.18 |
JW18-10 |
RC |
270 |
-45 |
182.9 |
16.8-44.2 |
27.4 |
0.34 |
|
65.5-70.1 |
4.6 |
0.20 |
86.8-89.9 |
3.1 |
0.25 |
96.0-115.8 |
19.8 |
0.34 |
JW18-11 |
RC |
090 |
-45 |
182.9 |
15.2-33.5 |
18.3 |
0.29 |
|
39.6-73.1 |
33.5 |
0.27 |
JW18-12 |
RC |
090 |
-45 |
91.4 |
16.7-27.4 |
10.7 |
0.18 |
JW18-13 |
RC |
090 |
-45 |
121.9 |
106.7-118.9 |
12.2 |
0.19 |
JW18-14 |
RC |
090 |
-45 |
182.9 |
42.7-48.8 |
6.1 |
0.19 |
JW18-15 |
RC |
270 |
-45 |
182.9 |
50.3-62.5 |
12.2 |
0.40 |
|
68.6-76.2 |
7.6 |
0.20 |
JW18-16 |
RC |
090 |
-45 |
182.9 |
0-27.4 |
27.4 |
0.25 |
|
82.3-85.4 |
3.1 |
0.33 |
JW18-17 |
RC |
090 |
-45 |
182.9 |
16.7-27.4 |
10.7 |
0.24 |
JW18-18 |
RC |
090 |
-45 |
182.9 |
42.7-47.3 |
4.6 |
0.22 |
|
57.9-73.1 |
15.2 |
0.16 |
135.7-144.8 |
9.1 |
0.22 |
JW18-19 |
RC |
090 |
-45 |
243.8 |
10.7-22.9 |
12.2 |
0.41 |
|
56.4-61.0 |
4.6 |
0.46 |
67.1-105.2 |
38.1 |
0.28 |
114.3-131.1 |
16.8 |
0.39 |
135.7-147.9 |
12.2 |
0.21 |
152.4-161.5 |
9.1 |
0.29 |
207.3-225.6 |
18.3 |
0.17 |
JW18-20 |
RC |
090 |
-45 |
182.9 |
9.1-24.3 |
15.2 |
0.29 |
|
82.3-158.5 |
76.2 |
0.30 |
JW18-21 |
RC |
090 |
-45 |
198.1 |
35.1-44.2 |
9.1 |
0.22 |
|
59.4-70.1 |
10.7 |
0.19 |
170.7-184.4 |
13.7 |
0.19 |
JW18-22 |
RC |
270 |
-45 |
182.9 |
No assays >0.14 g Au/t |
JW18-23 |
RC |
270 |
-78 |
182.9 |
16.7-19.8 |
3.1 |
0.27 |
JW18-24 |
RC |
090 |
-45 |
243.8 |
68.6-106.7 |
38.1 |
0.22 |
|
128.0-132.6 |
4.6 |
0.22 |
|
161.6-213.4 |
51.8 |
0.58 |
Including |
182.9-192.0 |
9.1 |
1.01 |
|
224.1-243.9 |
19.8 |
0.41 |
JW18-25 |
RC |
270 |
-45 |
121.9 |
9.1-12.2 |
3.1 |
0.46 |
|
21.3-27.4 |
6.1 |
0.19 |
47.3-56.4 |
9.1 |
0.26 |
77.7-115.8 |
38.1 |
0.22 |
JW18-26 |
RC |
090 |
-75 |
167.6 |
0-22.9 |
22.9 |
0.76 |
Including |
9.1-19.8 |
10.7 |
1.15 |
|
56.4-62.5 |
6.1 |
0.24 |
|
114.3-137.2 |
22.9 |
0.46 |
JW18-27 |
RC |
270 |
-78 |
152.4 |
35.1-48.8 |
13.7 |
0.33 |
|
64.0-73.1 |
9.1 |
0.46 |
129.6-150.9 |
21.3 |
0.17 |
JW18-28 |
RC |
090 |
-45 |
228.6 |
1.5-39.6 |
38.1 |
0.63 |
Including |
10.7-25.9 |
15.2 |
1.23 |
|
50.3-88.4 |
38.1 |
0.43 |
Including |
51.8-54.9 |
3.1 |
1.21 |
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.
Mac Jackson, Gold Standard’s Vice President of
Exploration commented: “We continue to expand the near surface,
oxide gold zone at Jasperoid Wash and are encouraged that the
geologic controls on the gold system are very similar to those at
Dark Star. The deposit remains open in multiple
directions. As we step out in phase 2 drilling during
August-September, we’ll be looking for structural settings that
have the potential to host 1 to 4 g Au/t oxide zones analogous to
those we’ve intersected at North Dark Star.”
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. 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
Gold Standard Ventures (TSX:GSV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gold Standard Ventures (TSX:GSV)
Historical Stock Chart
From Jul 2023 to Jul 2024