Oxidized intercepts include 213.7m of
2.52 g Au/t and 163.1m of 1.24 g Au/t
Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported more impressive results from one core hole and one
reverse-circulation (“RC”) hole at the Dark Star deposit on its
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend. With this news release, results have now been reported for
121 of the 132 holes that have been completed at Dark Star.
Two holes in the northern portion of Dark Star
intersected vertically-continuous zones of oxidized gold
mineralization including 213.7m of 2.52 g Au/t and 163.1m
of 1.24 g Au/t (refer to Dark Star drill
hole plan map at the following link
https://goldstandardv.com/lp/ds-oct16-2018-drillmaps/). These
results continue to confirm oxide gold resource potential below the
depth of the current resource model as well as lateral continuity
to higher-grade mineralization. This autumn, as part of an
expanded development drilling program announced on September 20,
2018 (see news release), approximately 5,400m of additional RC
drilling in 17 holes will test new targets at depth below the
current resource model, and 18 additional holes will test the
potential for further lateral resource expansion to the north, west
and south of the current resource. Five drill rigs are
currently active on the project.
Jonathan Awde, CEO and Director of Gold Standard
commented: “More than two years ago, when we got our first Dark
Star intercept grading more than two grams of oxide over more than
one hundred meters, we were surprised. We thought results that good
would likely prove to be the exception. Today, we can say that we
have learned why these results occur and where to find them. In our
view, Dark Star is a truly exceptional opportunity which has still
not reached its full potential as an oxide, heap leach project. We
have just begun to explore its emerging potential for higher-grade
sulfide mineralization at depth.”
Key Highlights from Dark
Star:
- In the northern portion of Dark Star, core hole DC18-22
intersected an oxidized interval of 213.7m of 2.52 g Au/t,
including 117.4m of 3.99 g Au/t. Below the
thick oxide mineralization, the hole intersected an interval of
reduced mineralization including 16.8m of 3.66 g Au/t.
- Also, in the northern portion of Dark Star, RC hole DR18-106
intersected 163.1m of 1.24 g Au/t, including separate
intervals of 27.4m of 2.09 g Au/t, 7.6m of 1.88 g Au/t and 27.4m of
2.52 g Au/t. Oxidized mineralization extends
approximately 30m below the current resource model. Below the
oxide mineralization, the hole intersected a reduced zone of 4.6m
of 1.84 g Au/t.
- Based on the reduced intercepts in DR18-70, -104, -105, and now
DC18-22, that are below the block model, there is an emerging and
expanding sulfide target below the thick, vertically-continuous
zones of oxide mineralization (see September 24, 2018 news
release).
- Currently 5 drill rigs are active on site testing the
following: 1) new targets at depth below the Dark Star current
resource model, and lateral resource expansion to the north, west
and south of the current Dark Star resource; 2) at Jasperoid Wash,
drilling will look to expand areas of known shallow oxide
mineralization and to test new targets; 3) new shallow oxide
targets at Dixie and Arcturus; and 4) new shallow oxide targets at
Ski Track.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DC18-22 |
Core |
90 |
-83 |
304.0 |
17.4-231.1 |
213.7 |
2.52 |
|
|
|
|
Including |
113.7-231.1 |
117.4 |
3.99 |
|
|
|
|
|
231.1-247.9 |
16.8 |
3.66 |
DR18-106 |
RC |
90 |
-80 |
335.3 |
38.1-201.2 |
163.1 |
1.24 |
|
|
|
|
Including |
103.7-131.1 |
27.4 |
2.09 |
|
|
|
|
Including |
138.7-146.3 |
7.6 |
1.88 |
|
|
|
|
Including |
173.8-201.2 |
27.4 |
2.52 |
|
|
|
|
|
216.4-221.0 |
4.6 |
1.84 |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide mineralization and
a 1.0 g Au/t cutoff for reduced mineralization. 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: “The continuation of the drilling program at
Dark Star is a testament to the success of exploration at the
deposit. Final results for the expanded program and the recently
completed deep test holes (DR18-70, DR18-103 through 106 and
DC18-22) will be incorporated into the project in late 2018.
Meanwhile, the South Railroad Project (combined Dark Star-Pinion)
continues down the development track with site planning and
resource evaluation. Results will be incorporated into permit
planning and initial meetings with the lead agencies for a mining
permit.”
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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