Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported Phase 2 results from 18 reverse-circulation (“RC”)
drill holes and one core hole at the Dixie Deposit and the Arcturus
target on its 100%-owned/controlled Railroad-Pinion Project in
Nevada’s Carlin Trend.
Two RC holes at Dixie intersected thick,
vertically-continuous zones of gold mineralization hosted in
pervasively altered and variably oxidized Pennsylvanian-Permian
(“Penn-Perm”) debris flow conglomerate and calcarenite - - the same
host section as the Dark Star deposit approximately four km to the
north. DX18-19 intersected 118.9m of 0.61 g Au/t, including
two higher-grade zones of 10.7m of 1.49 g Au/t and 15.2m of
1.32 g Au/t. DX18-26 intersected 137.2m of 0.53 g
Au/t including 9.1m of 1.26 g Au/t (refer to Dixie
plan and section maps at the following link:
https://goldstandardv.com/lp/dixie-feb12-2019-drillmaps/).
These are the thickest intercepts drilled to date at Dixie, once
again confirming the host potential of the Penn-Perm carbonate
rocks and the abundance of exploration opportunities in the
Railroad District.
The 2018 drilling tested new targets west, north
and south of Dixie where favorable Penn-Perm carbonate rocks are
altered, folded and crosscut by dike-filled faults. The 26 holes
completed in 2018 represent the first systematic drilling ever
undertaken at Dixie, which lies within the highly prospective
north-striking Dark Star Corridor. Based on Gold Standard’s
drilling, gold mineralization at Dixie extends for approximately
2,000m (north-south along strike) by 500m (east-west), and remains
open in all directions for potential expansion of the deposit.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Dixie is beginning to take shape as another valuable
discovery by Gold Standard. Although more work needs to be done,
the Dixie deposit is growing in size and grades appear to be
improving to the north. Historically, the more we learn about
deposits like Dixie, the more we find and the better they get. We
also expect to make additional new discoveries in this year’s
program.”
Key Highlights from Dixie:
- DX18-19 intersected 118.9m of 0.61 g Au/t, including two
higher-grade zones of 10.7m of 1.49 g Au/t and 15.2m of
1.32 g Au/t in favorable Penn-Perm debris flow
conglomerate and calcarenite. Mineralization occurs in the
immediate footwall of a quartz porphyry dike-filled fault
corridor. DX18-19 along with DX18-26 (this release – see
below) and DX18-06 (67.1m of 1.05 g Au/t – see June 13, 2018 news
release) confirm the vertical and lateral continuity of the gold
mineralization, with locally higher-grade intervals exceeding 1.0 g
Au/t.
- DX18-26 intersected 137.2m of 0.53 g Au/t including
9.1m of 1.26 g Au/t and 6.1m of 1.02 g Au/t,
approximately 100m south of DX18-19.
Mineralization remains open along
strike.
- DX18-24 intersected 18.3m of 0.92 g Au/t, including
9.1m of 1.29 g Au/t, in favorable Penn-Perm calcarenite
west of DX18-26. Shallow mineralization occurs proximal to
quartz porphyry dikes and begins within 90m of the current
topographic surface.
- On the north end of Dixie, DX18-21 intersected 65.5m of 0.39 g
Au/t, including 9.1m of 1.14 g Au/t in favorable
Penn-Perm debris flow conglomerate and calcarenite. Gold
mineralization begins approximately 80m below the current
topographic surface.
- Visual logging of the RC cuttings
indicates that the thickness and intensity of oxidation increase to
the north. AuCN test results indicate the significant drill
intercepts are comprised of zones of both oxide and reduced
mineralization. AuCN ratios are a first-pass estimate of the
potential gold recovery and ratios >60% are indicative of oxide
material. Further metallurgical work is required.
- Five holes (DX18-14, -15, -16, -17 and -22) were completed into
the new Arcturus target, approximately 750m west of the Dixie
deposit. These are the first holes testing a large area of
alteration and favorable structure. No significant results
were reported.
Dixie drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DX18-08 |
RC |
90 |
-75 |
530.4 |
164.6-227.1 |
62.5 |
0.38 |
|
230.2-275.9 |
45.7 |
0.28 |
DX18-09 |
RC |
90 |
-75 |
428.2 |
125.0-146.3 |
21.3 |
0.40 |
|
150.9-198.2 |
47.3 |
0.31 |
218.0-227.1 |
9.1 |
0.20 |
DX18-10 |
RC |
90 |
-70 |
605.0 |
103.6-140.2 |
36.6 |
0.49 |
Including |
125.0-132.6 |
7.6 |
1.21 |
DX18-11 |
RC |
90 |
-70 |
446.5 |
112.8-135.7 |
22.9 |
0.51 |
|
179.9-222.6 |
42.7 |
0.43 |
DX18-12 |
RC |
90 |
-60 |
461.8 |
74.7-102.1 |
27.4 |
0.36 |
|
Including |
96.0-100.6 |
4.6 |
1.01 |
|
161.6-189.0 |
27.4 |
0.35 |
Including |
184.4-189.0 |
4.6 |
1.12 |
DX18-13 |
RC |
90 |
-70 |
518.2 |
117.4-138.7 |
21.3 |
0.38 |
Including |
160.0-176.8 |
16.8 |
0.62 |
170.7-175.3 |
4.6 |
1.57 |
184.5-198.2 |
13.7 |
0.25 |
DX18-14 |
Core |
270 |
-45 |
475.8 |
No assays >0.14 g Au/t |
DX18-15 |
RC |
90 |
-60 |
307.8 |
No assays >0.14 g Au/t |
DX18-16 |
RC |
270 |
-60 |
231.6 |
No assays >0.14 g Au/t |
DX18-17 |
RC |
270 |
-60 |
534.9 |
No assays >0.14 g Au/t |
DX18-18 |
RC |
45 |
-50 |
446.5 |
128.0-205.7 |
77.7 |
0.39 |
|
214.9-243.9 |
29.0 |
0.52 |
DX18-19 |
RC |
135 |
-50 |
426.7 |
138.7-257.6 |
118.9 |
0.61 |
IncludingIncluding |
170.7-181.4 |
10.7 |
1.49 |
207.3-222.5 |
15.2 |
1.32 |
DX18-20 |
RC |
270 |
-80 |
349.0 |
64.0-68.6 |
4.6 |
0.24 |
|
83.8-88.4 |
4.6 |
0.30 |
160.1-192.1 |
32.0 |
0.41 |
Including |
187.5-190.6 |
3.1 |
1.34 |
|
207.3-225.6 |
18.3 |
0.19 |
DX18-21 |
RC |
90 |
-75 |
502.9 |
70.1-77.7 |
7.6 |
0.30 |
|
|
88.4-153.9 |
65.5 |
0.39 |
Including |
141.8-150.9 |
9.1 |
1.14 |
|
158.5-163.1 |
4.6 |
0.30 |
DX18-22 |
RC |
|
-90 |
376.4 |
No assays >0.14 g Au/t |
DX18-23 |
RC |
90 |
-75 |
423.7 |
73.1-114.3 |
41.2 |
0.31 |
|
132.6-143.3 |
10.7 |
0.19 |
DX18-24 |
RC |
270 |
-80 |
324.6 |
71.6-77.7 |
6.1 |
0.19 |
Including |
94.5-112.8 |
18.3 |
0.92 |
102.1-111.2 |
9.1 |
1.29 |
DX18-25 |
RC |
45 |
-50 |
464.8 |
193.6-224.1 |
30.5 |
0.24 |
|
240.9-248.5 |
7.6 |
0.28 |
DX18-26 |
RC |
135 |
-50 |
449.6 |
143.3-280.5 |
137.2 |
0.53 |
IncludingIncluding |
193.6-202.7 |
9.1 |
1.26 |
227.1-233.3 |
6.1 |
1.02 |
292.7-303.4 |
10.7 |
0.17 |
315.5-333.8 |
18.3 |
0.25 |
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.
Mike Harp, Gold Standard’s Project Geologist at
Dixie commented: “The Phase 2 drill program at Dixie was designed
to expand on the higher-grade intercepts and oxide zones identified
in the Phase 1 drill program. Phase 2 results are starting to
indicate a robust gold system, with good continuity, extending over
a 2km strike length. Dixie hosts thicker, Dark Star-like
mineralized intercepts near high-angle, dike-filled structures. The
Phase 2 drilling also identified additional oxide zones on the
northern portion of Dixie where wide-spaced drill intercepts remain
open to the north for expansion. With the enhanced understanding
of structural controls on mineralization at Dixie and Dark
Star, exploration can focus on testing the vertical extent of
mineralization at Dixie and applying these concepts to newly
identified targets along the greater 12km strike length of the Dark
Star Corridor.”
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 or
American Assay Laboratories Inc. in Sparks, NV where they were
crushed and pulverized. Resulting sample pulps were shipped
to Bureau Veritas certified laboratory in Sparks, NV or Vancouver,
BC, or remained with American Assay Laboratories Inc. in Sparks,
NV. Pulps were digested and analyzed for gold using fire
assay fusion and an atomic absorption spectroscopy (AAS) 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 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
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