Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today announced the continuation of step-out and infill drilling at
the Dark Star oxide gold deposit on its 100%-owned/controlled
Railroad-Pinion Project in Nevada’s Carlin Trend. The current
program consists of approximately 9,150m of drilling in 67
reverse-circulation (“RC”) holes, and is a continuation of the
expanded development program announced on September 20, 2018 (see
news release). Three RC rigs are on site assessing targets in
the northern portion of the deposit where mineralization is open to
the north, west and at depth; and shallow oxide targets in the
southern portion of the deposit that remain open to the southeast.
The Company also released results from three
Dark Star core holes drilled in 2018. DC18-24 intersected 35.7m of
0.60 g Au/t and is 100m northwest of DC18-18. With this press
release, ten drill holes remain to be reported from the 2018 Dark
Star drill program. Seven of the ten holes are stepout and
infill holes in the northern portion of Dark Star.
Jonathan Awde, CEO and Director of Gold Standard
commented: “We are excited to get back to work on our lead Dark
Star deposit which we expect to continue growing in 2019. We are
also evaluating the results of our 2018 program prior to setting
drill priorities for the rest of this year. Our preliminary
assessment is that we have discovered several new high potential
targets that will make for another exciting year of exploration on
our Railroad-Pinion Project.”
Key Highlights from Dark
Star:
- Currently 3 RC rigs are active on-site testing the following
targets: 1) in the northern portion of Dark Star, potential
continued expansion to the north, west and at depth of the current
Dark Star resource. Drilling will offset 2018 drill holes
DR18-99 (56.4m of 2.94 g Au/t, including 16.8m of 8.67 g Au/t, and
DR18-109 (33.5m of 2.33 g Au/t, including 15.2m of 4.24 g Au/t)
(see August 24, 2018 and November 15, 2018 news releases; and 2) in
the southern portion of Dark Star, a new shallow oxide target that
remains open to the south and southeast.
- In the southern portion of Dark Star, core hole DC18-24
intersected 35.7m of 0.60 g Au/t, including 10.5m of 1.28 g
Au/t. Oxide mineralization begins at the current
topographic surface and is open to the south. DC18-24,
continues to expand the near surface mineralization found in
previously released DC18-18 (September 24, 2018 returning 15.2m of
0.38 g Au/t) and DC18-23 (November 15, 2018 yielding 45.1m of 1.16
g Au/t). Collectively, these new holes are coincident with a
previously undrilled surface rock chip anomaly south of the known
deposit.
- DC18-10, and DC18-12 were geotechnical core holes drilled away
from the resource into the proposed west and east highwalls, to
confirm geotechnical slope parameters in the proposed open pit
highwall. Gold mineralization was not expected in these drill
holes. Nonetheless, DC18-10 intersected 29.6m of 0.26 g Au/t
of oxide mineralization and ended at 198.1m in 1.08 g Au/t.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DC18-10 |
Core |
290 |
-65 |
198.1 |
159.4-162.5 |
3.1 |
0.37 |
|
168.6-198.2 |
29.6 |
0.26 |
DC18-12 |
Core |
205 |
-65 |
232.9 |
95.1-111.9 |
16.8 |
0.50 |
DC18-24 |
Core |
|
-90 |
76.2 |
0-35.7 |
35.7 |
0.60 |
Including |
18.9-29.4 |
10.5 |
1.28 |
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: “This is one of the earliest drill startups
for Gold Standard Ventures on the Railroad-Pinion Project and
demonstrates the Company’s continued commitment to move this
project forward towards permitting and future potential
production. The priority of this drill campaign is to focus
on the expansion of the Dark Star resource where it currently
remains open and to reducing drill spacing to measured and
indicated for inclusion in economic analysis and studies.”
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 future studies and 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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