PC18-06 intersects 15.6m of 3.26 g Au/t
including 8.2m of 4.06 g Au/t
Gold Standard Ventures Corp. (TSX: GSV; NYSE AMERICAN: GSV) (“Gold
Standard” or the “Company”) today reported results from 24 core
holes at the Pinion oxide gold deposit on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend. Among the
better intersections were 15.6m of 3.26 g Au/t, 14.9m of 2.35 g
Au/t, 20.1m of 1.36 g Au/t, and 84.8m of 0.86 g Au/t in three
different holes. These results continue to confirm lateral
continuity to oxide gold mineralization and resource expansion
potential on the east side of the deposit.
The 2018 infill and geotechnical program
included 13,111m of drilling in 127 holes (refer to Pinion plan map
at the following link
https://goldstandardv.com/lp/Pinion-Aug2018-drill-maps/). The
program was designed to reduce drill spacing to approximately 30m
in critical portions of the deposit and provide additional core for
metallurgical and HPGR testing. With this news release,
results have now been reported for 124 of the 127 holes that have
been completed. Results from another 24 Pinion holes are
summarized below. Note that Pinion is now one of five gold deposits
being advanced by Gold Standard Ventures on its Railroad-Pinion
Project (including Dark Star, Jasperoid Wash, Dixie and North
Bullion), four of which are discoveries made by the Company.
Jonathan Awde, CEO and Director of Gold Standard
commented: “We are very satisfied with the progress we have made
this year on the Pinion deposit. Excellent continuity in the infill
drilling should enable us to move a significant portion of the
existing inferred resource to measured and indicated. Like
the Dark Star deposit, Pinion is showing greater depth potential
than we expected as well as the potential for further resource
expansion to the east. We are confident that our upcoming
Preliminary Economic Assessment will demonstrate a robust economic
return in the current gold price environment.”
Key Highlights from Pinion:
- Drill holes PR18-72, -73, -74, -76,
-78, -84, -85, and now PC18-06, -18, and -25, continue to establish
continuity of oxide mineralization at depth and to the east, in
addition to confirming a thicker multilithic breccia host section
than predicted by the resource model (see June 6, 2018 news
release). These holes suggest resource expansion potential
exists to the east of the deposit.
- In the eastern portion of Pinion,
PC18-06 intersected 15.6m of 3.26 g Au/t, including 8.2m of
4.06 g Au/t. The oxide intercept is open at depth,
where the hole bottomed in 2.49 g Au/t at 100.0m (refer to Pinion
cross section 4479140 N at the following link –
https://goldstandardv.com/lp/Pinion-Aug2018-drill-maps/).
- PC18-18 intersected 22.0m of 0.72 g
Au/t, including 4.0m of 1.86 g Au/t. The
oxide intercept is open at depth, where the hole bottomed in 0.53 g
Au/t at 170.7m (refer to Pinion cross section 4479140N at the
following link
–https://goldstandardv.com/lp/Pinion-Aug2018-drill-maps/).
These results may positively impact the strip ratio of the current
east highwall of the resource pit.
- PC18-25 intersected 84.8m of 0.86 g
Au/t, including 11.9m of 3.16 g Au/t (refer to
Pinion cross section 4479350 N at the following link -
https://goldstandardv.com/lp/Pinion-Aug2018-drill-maps/). The
oxide intercept is thicker and higher-grade than predicted by the
resource model and open at depth, where the hole bottomed in 0.87 g
Au/t at 152.4m.
- In the northern portion of Pinion,
PC18-07 intersected 14.9m of 2.35 g Au/t, including 6.1m of
4.51 g Au/t, and 20.1m of 1.36 g Au/t, including
7.9m of 2.70 g Au/t. These shallow oxide intercepts
are higher-grade than predicted by the current resource model.
Pinion drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
PC18-01 |
Core |
|
-90 |
67.1 |
26.5-30.5 |
4.0 |
1.70 |
PC18-02 |
Core |
|
-90 |
61.0 |
14.3-31.1 |
16.8 |
0.74 |
Including |
15.9-23.5 |
7.6 |
1.15 |
PC18-03 |
Core |
|
-90 |
39.6 |
0-7.5 |
7.5 |
0.35 |
|
24.8-31.4 |
6.6 |
0.52 |
35.8-39.6 |
3.8 |
0.31 |
PC18-04 |
Core |
|
-90 |
99.1 |
62.6-80.6 |
18.0 |
0.65 |
PC18-05 |
Core |
|
-90 |
61.9 |
4.6-18.3 |
13.7 |
1.20 |
Including |
6.4-11.6 |
5.2 |
2.53 |
23.2-35.1 |
11.9 |
0.60 |
55.7-61.8 |
6.1 |
0.30 |
PC18-06 |
Core |
90 |
-73 |
100.0 |
84.4-100.0 |
15.6 |
3.26 |
Including |
91.8-100.0 |
8.2 |
4.06 |
PC18-07 |
Core |
270 |
-80 |
88.4 |
3.4-18.3 |
14.9 |
2.35 |
Including |
8.8-14.9 |
6.1 |
4.51 |
|
33.2-53.3 |
20.1 |
1.36 |
Including |
37.8-45.7 |
7.9 |
2.70 |
|
59.9-62.2 |
2.3 |
0.54 |
PC18-08 |
Core |
|
-90 |
45.7 |
0-8.5 |
8.5 |
1.10 |
|
11.9-14.0 |
2.1 |
0.19 |
18.3-20.3 |
2.0 |
0.20 |
PC18-09 |
Core |
270 |
-73 |
106.7 |
49.5-84.8 |
35.3 |
0.57 |
Including |
62.8-68.9 |
6.1 |
1.07 |
PC18-10 |
Core |
|
-90 |
35.1 |
0-1.2 |
1.2 |
2.86 |
|
23.3-24.8 |
1.5 |
0.32 |
PC18-11 |
Core |
270 |
-87 |
107.0 |
78.6-87.2 |
8.6 |
0.18 |
|
90.8-94.5 |
3.7 |
0.33 |
PC18-12 |
Core |
|
-90 |
39.6 |
5.2-20.4 |
15.2 |
0.89 |
Including |
8.2-15.7 |
7.5 |
1.46 |
31.1-32.6 |
1.5 |
0.16 |
PC18-13 |
Core |
|
-90 |
76.2 |
2.6-15.2 |
12.6 |
0.31 |
|
23.5-25.0 |
1.5 |
0.20 |
40.2-49.2 |
9.0 |
0.16 |
PC18-14 |
Core |
90 |
-69 |
134.1 |
78.0-110.7 |
32.7 |
0.51 |
Including |
101.5-108.4 |
6.9 |
1.17 |
PC18-15 |
Core |
|
-90 |
61.0 |
17.0-30.2 |
13.2 |
0.56 |
|
34.1-38.7 |
4.6 |
0.32 |
PC18-16 |
Core |
|
-90 |
227.1 |
99.7-110.4 |
10.7 |
0.35 |
Including |
133.8-207.3 |
73.5 |
0.57 |
162.2-170.3 |
8.1 |
1.25 |
PC18-17 |
Core |
270 |
-76 |
80.2 |
0-1.6 |
1.6 |
0.24 |
|
34.5-40.1 |
5.6 |
0.86 |
72.3-74.4 |
2.1 |
0.38 |
PC18-18 |
Core |
270 |
-79 |
170.7 |
148.7-170.7 |
22.0 |
0.72 |
Including |
152.7-156.7 |
4.0 |
1.86 |
PC18-19 |
Core |
|
-90 |
99.7 |
No assays >0.14 g Au/t |
PC18-20 |
Core |
70 |
-75 |
238.4 |
Geotechnical hole – assays pending |
PC18-21 |
Core |
35 |
-80 |
240.8 |
Geotechnical hole – assays pending |
PC18-22 |
Core |
140 |
-60 |
218.2 |
Geotechnical hole – assays pending |
PC18-23 |
Core |
90 |
-86 |
260.6 |
83.5-90.5 |
7.0 |
0.33 |
|
132.2-157.8 |
25.6 |
0.86 |
Including |
132.2-144.5 |
12.3 |
1.35 |
|
162.5-192.5 |
30.0 |
0.42 |
PC18-24 |
Core |
90 |
-68 |
121.9 |
71.0-106.1 |
35.1 |
0.85 |
Including |
82.9-93.9 |
11.0 |
1.53 |
118.1-121.2 |
3.1 |
0.58 |
PC18-25 |
Core |
|
-90 |
152.4 |
67.6-152.4 |
84.8 |
0.86 |
Including |
138.4-150.3 |
11.9 |
3.16 |
PC18-26 |
Core |
270 |
-57 |
97.6 |
11.5-14.6 |
3.1 |
0.34 |
|
19.2-25.3 |
6.1 |
0.14 |
31.4-43.6 |
12.2 |
0.37 |
PC18-27 |
Core |
90 |
-75 |
61.0 |
20.7-29.1 |
8.4 |
0.66 |
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: “2018 development drilling at Pinion has been
completed and we are now moving forwards with an updated geology
and grade model. Results of the updated models will be
incorporated with metallurgical testing to provide the foundation
for the resource estimate in the PEA. In addition to
the PEA, GSV has initiated hydrologic, pit slope, and facility
geotechnical studies, and baseline permitting activity to start
moving the South Railroad Project towards a viable potential mining
scenario.”
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. 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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