Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported results from 25 reverse-circulation (“RC”) and 2
core holes at the Dark Star deposit on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend. Two holes
in the northern portion of Dark Star intersected impressive grades
and thicknesses: 229.8m of 2.08 g Au/t and 56.4m of 2.94 g
Au/t. These results confirm oxide gold resource expansion
potential in the footwall of the Ridgeline fault, and continuity to
higher-grade mineralization in the hanging wall of the Ridgeline
fault.
To date 23,498m of infill, step-out and
geotechnical drilling have been completed in 129 RC and core holes
at Dark Star (refer to Dark Star drill hole plan map at the
following link –
https://goldstandardv.com/lp/ds-aug23-2018-drill-maps/).
Results from 27 Dark Star holes are summarized below, and with this
news release, results have now been reported for 107 of the 129
holes that have been completed.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Dark Star continues to surprise us to the upside with
several new targets emerging in the northern portion of the
deposit. The high-grade feeder structures in this deposit are far
more extensive than previously thought and structural limits to the
mineralization we originally assumed have proved not to be limits
at all. The continuity of the oxidized gold values overall, the
thickness of the intervals containing exceptional grade and the
near-surface accessibility of the material make Dark Star a
potential stand-out among Carlin deposits. We think that an
upcoming Preliminary Economic Assessment of Dark Star is likely to
have a substantial impact on perceptions of shareholder value.”
Key Highlights from Dark
Star:
- DC18-07, a core hole in the northern portion of Dark Star,
intersected 229.8m of 2.08 g Au/t, including 11.0m of 5.04
g Au/t, 12.4m of 4.94 g Au/t, 6.5m of 9.17 g Au/t
and 14.3m of 4.60 g Au/t (refer to Dark Star cross section
4480110 N and core photos at the following link
https://goldstandardv.com/lp/ds-aug23-2018-drill-maps/). The
229.8m mineralized zone includes an 8.6m interval of no core
recovery from 131.1m to 139.7m. The oxide intercept is
higher-grade and more continuous than predicted by the resource
model. Mineralization extends approximately 30m below the
resource model where the hole was lost at 243.6m in 0.45 g
Au/t.
- In the northern portion of Dark Star, drill holes DR18-69, -97,
-98, -99, -100 and -101 returned thick, oxide gold intercepts in
the footwall (west) of the Ridgeline fault. Currently nine
holes in the footwall outline a 300m north-south zone of oxide
mineralization. This a new target area that remains open for
resource expansion to the north and west.
- In the northern portion of Dark Star, stepout RC hole DR18-99
intersected 56.4m of 2.94 g Au/t, including 16.8m of 8.67 g
Au/t (refer to Dark Star cross section 4480170 N at the
following link –
https://goldstandardv.com/lp/ds-aug23-2018-drill-maps/).
These results are noteworthy for four reasons: 1) the
high-grade intercept is located approximately 60m into the footwall
(west) of the Ridgeline fault – a structure once thought to be a
boundary to mineralization; 2) the intercept is higher-grade than
predicted by the resource model; 3) the intercept is oxide based on
AuCN shake tests, and 4) resource expansion potential remains open
to the north and west.
- Also, in the footwall of the Ridgeline fault, RC hole DR18-97
intersected 70.1m of 0.89 g Au/t, including 10.7m of 2.88 g
Au/t (refer to Dark Star cross section 4480200 N at the
following link –
https://goldstandardv.com/lp/ds-aug23-2018-drill-maps/). This
oxide intercept expands the current resource block model 30m to the
west of the Ridgeline fault.
- In the southern portion of Dark Star, RC hole DR18-96
intersected 125.0m of 0.58 g Au/t starting at the topographic
surface. The oxide intercept is higher-grade than predicted
by the resource block model.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR18-69 |
RC |
|
-90 |
274.3 |
123.5-129.6 |
6.1 |
0.20 |
Including |
179.9-199.7 |
19.8 |
0.60 |
192.1-196.7 |
4.6 |
1.40 |
DR18-70 |
RC |
90 |
-75 |
349.0 |
Assays pending |
DR18-77 |
RC |
|
-90 |
193.5 |
94.5-99.1 |
4.6 |
0.48 |
|
120.4-126.5 |
6.1 |
0.16 |
134.1-144.8 |
10.7 |
0.15 |
DR18-78 |
RC |
90 |
-73 |
195.1 |
94.5-106.7 |
12.2 |
1.32 |
Including |
96.0-100.6 |
4.6 |
3.03 |
DR18-79 |
RC |
|
-90 |
195.1 |
71.6-74.7 |
3.1 |
0.48 |
|
82.3-89.9 |
7.6 |
0.36 |
105.2-115.9 |
10.7 |
0.15 |
128.0-143.2 |
15.2 |
0.23 |
167.7-181.4 |
13.7 |
0.22 |
DR18-80 |
RC |
|
-90 |
175.3 |
122.0-123.5 |
1.5 |
0.18 |
DR18-81 |
RC |
|
-90 |
199.6 |
0-9.1 |
9.1 |
2.08 |
|
80.8-117.4 |
36.6 |
0.20 |
172.3-199.7 |
27.4 |
0.41 |
DR18-84 |
RC |
90 |
-58 |
57.9 |
Hole lost before testing target |
DR18-85 |
RC |
90 |
-80 |
170.7 |
45.7-118.9 |
73.2 |
0.41 |
Including |
100.6-103.7 |
3.1 |
2.02 |
DR18-86 |
RC |
|
-90 |
169.2 |
41.1-51.8 |
10.7 |
0.25 |
|
57.9-149.4 |
91.5 |
0.34 |
DR18-87 |
RC |
90 |
-69 |
146.3 |
19.8-22.9 |
3.1 |
0.15 |
|
67.1-76.2 |
9.1 |
0.19 |
89.9-103.6 |
13.7 |
0.54 |
DR18-88 |
RC |
|
-90 |
185.9 |
61.0-245.5 |
123.5 |
0.53 |
Including |
172.2-182.9 |
10.7 |
2.34 |
DR18-89 |
RC |
90 |
-74 |
170.7 |
65.5-79.2 |
13.7 |
0.39 |
Including |
91.4-94.5 |
3.1 |
0.20 |
108.2-150.9 |
42.7 |
0.60 |
115.9-135.7 |
19.8 |
1.02 |
DR18-90 |
RC |
90 |
-87 |
195.1 |
62.5-158.5 |
96.0 |
0.39 |
Including |
83.8-89.9 |
6.1 |
1.18 |
DR18-91 |
RC |
|
-90 |
201.2 |
59.5-68.6 |
9.1 |
4.43 |
|
79.3-93.0 |
13.7 |
0.33 |
166.2-178.4 |
12.2 |
0.16 |
DR18-92 |
RC |
|
-90 |
185.9 |
83.8-138.7 |
54.9 |
0.50 |
Including |
114.3-129.5 |
15.2 |
1.08 |
181.4-186.0 |
4.6 |
0.27 |
DR18-93 |
RC |
|
-90 |
170.7 |
138.7-169.2 |
30.5 |
0.17 |
DR19-94 |
RC |
|
-90 |
210.3 |
71.6-117.3 |
45.7 |
0.37 |
|
123.5-169.2 |
45.7 |
0.26 |
DR18-95 |
RC |
|
-90 |
152.4 |
0-10.7 |
10.7 |
0.18 |
IncludingIncluding |
35.1-137.2 |
102.1 |
0.70 |
59.4-64.0 |
4.6 |
1.18 |
105.2-122.0 |
16.8 |
1.93 |
DR18-96 |
RC |
90 |
-86 |
157.0 |
0-125.0 |
125.0 |
0.58 |
IncludingIncluding |
39.6-42.7 |
3.1 |
1.59 |
105.2-114.3 |
9.1 |
1.00 |
DR18-97 |
RC |
|
-90 |
289.6 |
13.7-42.7 |
29.0 |
0.54 |
Including
IncludingIncluding |
13.7-16.8 |
3.1 |
1.98 |
132.6-146.3 |
13.7 |
0.16 |
173.8-184.5 |
10.7 |
0.15 |
199.7-269.8 |
70.1 |
0.89 |
204.2-208.8 |
4.6 |
1.34 |
242.4-253.1 |
10.7 |
2.88 |
DR18-98 |
RC |
90 |
-82 |
201.2 |
103.7-128.1 |
24.4 |
0.20 |
|
134.1-150.9 |
16.8 |
0.42 |
DR18-99 |
RC |
90 |
-72 |
350.5 |
36.6-41.2 |
4.6 |
0.29 |
Including |
195.1-204.2 |
9.1 |
0.30 |
231.7-288.1 |
56.4 |
2.94 |
245.4-262.2 |
16.8 |
8.67 |
311.0-315.6 |
4.6 |
0.21 |
327.7-350.6 |
22.9 |
0.59 |
DR18-100 |
RC |
|
-90 |
170.7 |
93.0-117.4 |
24.4 |
0.38 |
|
129.6-135.7 |
6.1 |
0.35 |
DR18-101 |
RC |
|
-90 |
190.5 |
109.7-138.7 |
29.0 |
0.26 |
|
146.3-182.9 |
36.6 |
0.32 |
187.5-190.6 |
3.1 |
0.22 |
DR18-102 |
RC |
|
-90 |
201.2 |
93.0-94.5 |
1.5 |
0.53 |
|
99.1-111.3 |
12.2 |
0.19 |
122.0-128.1 |
6.1 |
0.17 |
DR18-103 |
RC |
90 |
-73 |
202.7 |
Assays pending |
DR18-104 |
RC |
90 |
-80 |
403.9 |
Assays pending |
DR18-105 |
RC |
90 |
-80 |
367.3 |
Assays pending |
|
DC18-04 |
Core |
275 |
-75 |
277.4 |
Geotechnical hole – assays pending |
DC18-06 |
Core |
40 |
-65 |
259.1 |
Geotechnical hole – assays pending |
DC18-07 |
Core |
|
-90 |
243.6 |
13.8-243.6 |
229.8 |
2.08 |
IncludingIncludingIncludingIncluding |
86.7-97.7 |
11.0 |
5.04 |
140.9-153.3 |
12.4 |
4.94 |
174.4-180.9 |
6.5 |
9.17 |
223.5-237.8 |
14.3 |
4.60 |
DC18-08 |
Core |
130 |
-65 |
231.6 |
Geotechnical hole – assays pending |
DC18-09 |
Core |
90 |
-80 |
221.0 |
Assays pending |
DC18-10 |
Core |
290 |
-65 |
198.1 |
Geotechnical hole – assays pending |
DC18-11 |
Core |
90 |
-75 |
66.8 |
Assays pending |
DC18-12 |
Core |
205 |
-65 |
232.9 |
Geotechnical hole – assays pending |
DC18-13 |
Core |
90 |
-75 |
126.5 |
72.8-75.9 |
3.1 |
0.33 |
|
91.1-98.9 |
7.8 |
0.16 |
103.7-111.0 |
7.3 |
0.47 |
DC18-14 |
Core |
110 |
-80 |
188.5 |
Geotechnical hole – assays pending |
DC18-15 |
Core |
90 |
-77 |
121.9 |
Assays pending |
DC18-16 |
Core |
90 |
-85 |
196.0 |
Assays pending |
DC18-17 |
Core |
90 |
-86 |
192.0 |
Assays pending |
DC18-18 |
Core |
|
-90 |
125.0 |
Assays pending |
DC18-19 |
Core |
90 |
-55 |
176.8 |
Assays pending |
DC18-20 |
Core |
|
-90 |
105.2 |
Assays pending |
DC18-21 |
Core |
|
-90 |
91.4 |
Assays pending |
DC18-22 |
Core |
90 |
-83 |
304.0 |
Assays pending |
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 commented: “Prior to the development drilling program
Dark Star had a NI43-101 compliant resource estimate consisting of
15.38 million tonnes grading 0.54 g Au/t (Indicated) and 17.05
million tonnes grading 1.31 g Au/t (Inferred) at a cutoff grade of
0.20 g Au/t. In addition, Dark Star column recoveries from
-12.5mm size material averaged 86.5% gold for oxide and 70% gold
for transitional material (October 25, 2017 press release),
confirming that Dark Star is a candidate for heap leach processing.
The goal of the development program is the conversion
of the majority of the inferred resource to measured and indicated,
as well as growth of the overall resource. With drilling
completed, the model update is currently in progress and will be
reported as part of the South Railroad Project PEA. As a
comparison to local operations, the Emigrant Mine immediately to
the north of Dark Star (16km) is successfully operating on a
drill-defined resource of 88 million tonnes grading 0.48 g Au/t,
with an expected gold recovery of 50-60%.”
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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