High-Grade Oxide Gold Values Found at Gold Standard’s LT Target in Carlin Trend
October 11 2018 - 6:30AM
Four individual surface rock samples
returned values ranging from 4.50 g Au/t to 12.90 g
Au/t
Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today announced surface rock samples have identified another highly
prospective oxide gold target, known as the LT target, on Gold
Standard’s 100%-owned/controlled Railroad-Pinion project in
Nevada’s Carlin Trend. The LT target is located 3 km
north-northwest of Gold Standard’s Pinion oxide gold deposit.
Highlights include assay values ranging from <0.005 to 12.90 g
Au/t, including 12.90 g Au/t, 11.20 g Au/t, 6.65 g Au/t and 4.50 g
Au/t in individual rock samples collected from surface outcrops
over a 400m by 200m area.
Historic drill results at LT included intercepts
of 48.8m of 0.44 g/t Au and 6.1m of 2.80 g/t Au in two drill holes,
and surface rock samples ranging from <0.005 to 4.99 g Au/t.
These historic results, in conjunction with Gold Standard’s recent
surface rock results, prompted a re-examination of the area. Gold
mineralization is hosted in decalcified, silicified and oxidized
multilithic dissolution collapse breccia proximal to a
north-striking igneous dike (images at the following link -
https://goldstandardv.com/lp/lt-target-october-2018-images/).
This is the same stratigraphic horizon and style of alteration that
hosts the nearby Pinion oxide gold deposit. A geologic
mapping program is currently underway to identify the extent of the
altered multilithic breccia host and structural controls on the
mineralization. This information will be used to develop a 2019
drilling program.
Jonathan Awde, CEO and Director of Gold Standard
commented: “LT is further evidence of the robust, district scale of
the Railroad-Pinion mineral system. This target is farther north
and west than our exploration to date and we are seeing the same
characteristics that have marked our discoveries at Dark Star,
Jasperoid Wash and Dixie but with better surface gold exposure. I
am impressed by our technical team’s ability to apply our growing
understanding of how this district was formed and mineralized to
quickly qualify new opportunities. We believe that LT is not the
last new target we will find this year.”
Key Highlights:
- 70 rock samples were collected from
altered outcrops over a 400m by 200m area. Eight samples returned
values greater than 1.0 g/t Au, and 9 samples returned fire assay
values ranging from 0.1 to 1.0 g Au/t. Noteworthy results included
12.90 g Au/t, 11.20 g Au/t, 6.65 g Au/t and 4.50 g Au/t in four
individual chip-channel samples. The range for all samples is from
<0.005 to 12.90 g Au/t.
- Cyanide solubility assays run on
samples >0.10 g Au/t ranged from 64% to 99%, indicating the
mineralization is oxide.
- A geologic mapping program is
currently underway to identify the extent of the altered
multilithic breccia host and structural controls of the area. This
information will be used to develop drill targets for 2019.
Robert J. Edie, Gold Standard’s Project
Geologist working at LT stated: “The plus 4.0 g Au/t surface
samples collected at LT represent a strong hydrothermal system that
produces higher-grade gold values. These results support Gold
Standard’s dual-track strategy of developing the Dark Star and
Pinion oxide deposits while actively evaluating new, early-stage
exploration targets. LT is another example of GSV’s
ever-growing pipeline of early-stage exploration opportunities in
the Railroad District.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality AssuranceAll sampling was
conducted under the supervision of the Company’s project geologist
and the chain of custody from the project to the sample preparation
facility was continuously monitored. A blank or certified
reference material 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.
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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