Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported more oxide gold results from 11 reverse-circulation
(“RC”) holes and one core 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
all 143 holes completed in the 2018 Dark Star development program.
In the northern portion of Dark Star, two RC
stepout holes intersected vertically-continuous zones of oxidized
gold mineralization. DR18-117 intersected 77.7m of 0.90 g
Au/t, including 42.7m of 1.26 g Au/t, and DR18-113
intersected 18.3m of 0.34 g Au/t (refer to Dark Star drill hole
plan map at the following link
https://goldstandardv.com/lp/ds-feb04-2019-drillmaps/). These
results continue to confirm that oxide gold resource expansion
remains open in multiple directions.
Jonathan Awde, CEO and Director of Gold Standard
commented: “This year’s program at Dark Star is off to an excellent
start. Three rigs operating there have already completed nearly
7,000m in 47 holes testing new targets below the current resource
as well as lateral expansion of the resource to the north, west and
south. Near-surface structural patterns and seismic data strongly
support the existence of an untested anticline below the northern
portion of the Dark Star deposit. This structural setting has been
known to host highly productive lower plate carbonate gold deposits
elsewhere in the Carlin Trend and is one of the targets to be
drilled in 2019.”
Key Highlights from Dark
Star:
- In the northern portion of Dark Star, RC hole DR18-117
intersected an oxidized interval of 77.7m of 0.90 g Au/t,
including 42.7m of 1.26 g Au/t. This new
stepout intercept is approximately 30m west of DS17-37 (141.8m of
3.32 g Au/t announced January 23, 2018) where mineralization
remains open to the south. Due to poor drilling conditions,
the hole ended at 231.7m in 0.41 g Au/t before testing the entire
target.
- Also, in the northern portion of Dark Star, DR18-113
intersected 18.3m of 0.34 g Au/t. Oxide mineralization in
this northern stepout hole remains open to the north and west.
- Results from the 2018 Dark Star development program continue to
reveal a robust, vertically and laterally-extensive oxide gold
system on the north end of the deposit that, at depth, transitions
into higher-grade sulfide gold mineralization. Unique
geologic patterns associated with Dark Star include deep oxidation;
multilithic hydrothermal breccias; and the intersection of north-,
west northwest- and northeast-striking faults. Based on 2D
seismic interpretations, these geologic patterns occur in the
near-surface environment above a buried and untested
anticline. Gold Standard now believes that deeper, lower
plate carbonate hosted gold targets likely occur in this favorable
structural setting beneath the Dark Star deposit - - similar to the
structural setting in the Carlin North Area. Drill testing of
these deeper targets will be one focus of the 2019 program.
- DC18-14 was a geotechnical core hole drilled away from the
resource into the proposed east highwall, to confirm geotechnical
parameters in the proposed open pit highwall. The hole
intersected 33.5m of 0.29 g Au/t of oxide mineralization beginning
at the current topographic surface.
- DR18-107, -108, -111 and -112 were environmental monitor holes
completed west of the deposit. Mineralization was not
expected in these drill holes; however, DR18-108 intersected a
reduced intercept of 7.6m of 2.43 g Au/t.
- In the current 2019 program, 3 drill rigs operating at Dark
Star have completed 6,970m of drilling in 47 holes. These holes are
testing new targets at depth below the current resource model, and
lateral resource expansion to the north, west and south of the
current Dark Star resource. The 2019 program will infill the
current resource to approximately 30m drill spacings for conversion
to measured and inferred classification.
Dark Star drill results are as follows:
|
|
|
|
|
|
|
|
Drill
Hole |
Method |
Azimuth |
Incl. |
TD
(m) |
Intercept
(m) |
Thickness
(m) |
Grade (g
Au/t) |
DR18-107 |
RC |
|
-90 |
201.2 |
No assays >0.14 g Au/t |
DR18-108 |
RC |
|
-90 |
304.8 |
205.8-213.4 |
7.6 |
2.43 |
DR18-111 |
RC |
|
-90 |
36.6 |
No assays >0.14 g Au/t |
DR18-112 |
RC |
|
-90 |
25.9 |
No assays >0.14 g Au/t |
DR18-113 |
RC |
90 |
-81 |
312.4 |
192.1-210.4 |
18.3 |
0.34 |
|
234.7-239.3 |
4.6 |
0.17 |
243.9-263.7 |
19.8 |
0.26 |
DR18-114 |
RC |
270 |
-80 |
362.7 |
21.3-60.9 |
39.6 |
0.38 |
|
202.7-216.4 |
13.7 |
0.38 |
DR18-115 |
RC |
270 |
-80 |
342.9 |
198.1-202.7 |
4.6 |
0.15 |
DR18-116 |
RC |
90 |
-80 |
385.6 |
22.9-32.0 |
9.1 |
0.23 |
|
86.9-99.1 |
12.2 |
0.19 |
109.8-122.0 |
12.2 |
0.28 |
236.3-251.5 |
15.2 |
0.41 |
254.6-263.7 |
9.1 |
0.18 |
DR18-117 |
RC |
|
-90 |
231.7 |
77.7-155.4 |
77.7 |
0.90 |
Including |
79.3-122.0 |
42.7 |
1.26 |
160.1-166.2 |
6.1 |
0.20 |
170.7-207.3 |
36.6 |
0.35 |
230.2-231.7 |
1.5 |
0.41 |
DR18-118 |
RC |
|
-90 |
345.9 |
16.7-19.8 |
3.1 |
0.17 |
|
103.7-135.7 |
32.0 |
0.31 |
DR18-119 |
RC |
|
-90 |
294.1 |
97.5-100.6 |
3.1 |
0.17 |
DC18-14 |
Core |
110 |
-80 |
188.5 |
0-33.5 |
33.5 |
0.29 |
|
39.6-43.0 |
3.4 |
0.34 |
49.4-58.5 |
9.1 |
0.51 |
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 initial 2019 program at Dark Star
is progressing very rapidly with 75% of the holes completed. This
phase is designed to infill the remaining gold resource to 30m for
conversion to measured and indicated. The program is also designed
to test open mineralization at both North and Main to setup a phase
2 program later in 2019.”
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. Gold Standard’s
successful exploration of the Pinion and Dark Star gold deposits
has created 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. This resource will be
re-estimated this year to include drill results from 2018.
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. This resource will also be re-estimated this year to include
highly favourable 2018 drill results.
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 ESTIMATESAll 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
Gold Standard Ventures (TSX:GSV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gold Standard Ventures (TSX:GSV)
Historical Stock Chart
From Jul 2023 to Jul 2024