Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today reported Phase 2 results from 19 reverse-circulation (“RC”)
holes and 2 core holes at the Jasperoid Wash Deposit on its
100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin
Trend (refer to Jasperoid Wash plan and section maps at the
following link
https://goldstandardv.com/lp/jw-feb19-2019-drillmaps/).
Jasperoid Wash is located approximately 6 km
south of the Pinion Deposit, 7.5 km southwest of the Dark Star
Deposit and 4 km southwest of the Dixie Deposit. The Phase 2
Jasperoid Wash drilling program was designed to expand areas of
known shallow oxide mineralization; test new targets north and
south of the existing drill pattern; and provide additional
material for metallurgical testing.
Two holes at Jasperoid Wash intersected thick,
near-surface oxide gold mineralization hosted in pervasively
altered and oxidized Pennsylvanian-Permian (“Penn-Perm”) debris
flow conglomerate and calcarenite - - the same host section as the
Dark Star and Dixie deposits. RC hole JW18-37 intersected
25.9m of 0.69 g Au/t, including 6.1m of 1.10 g
Au/t; and JW18-30 intersected 27.7m of 0.86 g Au/t,
including 12.2m of 1.17 g Au/t. These
results continue to support the lateral and strike-continuity of
oxide mineralization at Jasperoid Wash and establish the
north-striking dike-filled fault corridor as a control on
mineralization.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Jasperoid Wash is emerging as a big system, thus far
extending approximately 1,575m along a north-northeast strike by
650m wide east-west within a dike-filled fault corridor.
Mineralization remains open in all directions for potential further
expansion. Initial grades may appear low but drilling to date is
enabling us to unravel the features controlling higher grades, just
as we have been doing successfully at our Pinion, Dark Star and
Dixie discoveries. Once again, we are confirming that
Railroad-Pinion is not a patchwork of smaller deposits but rather a
strong, district-scale system with remarkable continuity.”
Key Highlights from Jasperoid
Wash:
- Core hole JW18-30 intersected 27.7m of 0.86 g Au/t,
including 4.9m of 1.12 g Au/t and 12.2m of 1.17 g
Au/t. The hole confirmed the down-dip continuity of
mineralization intersected in JW18-01 (see July 26, 2018 news
release). Material from this hole will be used for column
leach testing.
- Stepout hole JW18-37 intersected 25.9m of 0.69 g Au/t,
including 6.1m of 1.10 g Au/t, of near-surface
oxide mineralization. This intercept is approximately 80m
north of drill holes JW18-26 (22.9m of 0.76 g Au/t,
including 10.7m of 1.15 g Au/t) and JW18-28 (38.1m
of 0.63 g Au/t, including 15.2m of 1.23 g Au/t)
(see July 26, 2018 news release). These oxide intercepts
begin at or near the current topographic surface.
- JW18-29, a core twin of RC hole JW18-16 (27.4m of 0.25 g Au/t -
announced on July 26, 2018), intersected 53.2m of 0.31 g Au/t in
the central portion of the deposit. Oxide mineralization
begins at the current topographic surface and the intercept is
thicker and higher-grade than the JW18-16 intercept.
Mineralized material from this hole will be used for column leach
testing.
- On the northernmost end of the deposit, stepout drill holes
JW18-47 and -48 intersected oxide mineralization beginning at the
current topographic surface. These intercepts extend the
strike length of the deposit approximately 550m to the north of
drill holes JW18-26 (22.9m of 0.76 g Au/t) and JW18-28 (38.1m of
0.63 g Au/t) where mineralization also begins at or near the
current topographic surface (see July 26, 2018 news release).
Mineralization remains open for additional expansion.
- On the southern end of the deposit, drill holes JW18-38, -40,
-41, -43 and -44 intersected shallow oxide gold mineralization that
extends the deposit to the south and southeast. Oxide
mineralization begins at or near the current topographic surface,
and remains open to the east and south.
- Drilling has outlined a zone of near-surface, oxide gold
mineralization measuring approximately 1,575m long (striking
north-northeast) by 650m wide (east-west). The 49 holes
completed in 2018 continue to establish lateral and strike
continuity of the near-surface oxide mineralization which remains
open in multiple directions.
- 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.
Jasperoid Wash drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
JW18-29 |
Core |
90 |
-50 |
210.9 |
0.6-53.8 |
53.2 |
0.31 |
|
74.7-81.4 |
6.7 |
0.32 |
111.9-124.1 |
12.2 |
0.22 |
JW18-30 |
Core |
90 |
-50 |
399.9 |
56.7-84.4 |
27.7 |
0.86 |
IncludingIncluding |
57.3-62.2 |
4.9 |
1.12 |
72.3-84.5 |
12.2 |
1.17 |
101.2-105.6 |
4.6 |
1.42 |
113.4-125.1 |
11.7 |
0.45 |
126.8-136.3 |
9.5 |
0.31 |
140.8-151.5 |
10.7 |
0.43 |
162.2-183.5 |
21.3 |
0.36 |
195.7-207.9 |
12.2 |
0.44 |
JW18-31 |
RC |
90 |
-50 |
320.0 |
No significant assays |
JW18-32 |
RC |
90 |
-50 |
236.2 |
35.1-41.2 |
6.1 |
0.33 |
JW18-33 |
RC |
90 |
-50 |
249.9 |
129.5-132.6 |
3.1 |
0.17 |
JW18-34 |
RC |
90 |
-50 |
274.3 |
21.3-24.4 |
3.1 |
0.16 |
|
30.5-38.1 |
7.6 |
0.23 |
54.8-57.9 |
3.1 |
0.18 |
64.0-68.6 |
4.6 |
0.34 |
92.9-96.0 |
3.1 |
0.27 |
JW18-35 |
RC |
90 |
-75 |
297.3 |
64.0-100.6 |
36.6 |
0.32 |
JW18-36 |
RC |
90 |
-50 |
304.9 |
No significant assays |
JW18-37 |
RC |
90 |
-50 |
172.0 |
15.2-41.1 |
25.9 |
0.69 |
Including |
16.7-22.8 |
6.1 |
1.10 |
JW18-38 |
RC |
90 |
-50 |
152.4 |
18.3-25.9 |
7.6 |
0.15 |
|
41.2-65.6 |
24.4 |
0.22 |
JW18-39 |
RC |
90 |
-50 |
172.2 |
129.6-135.7 |
6.1 |
0.14 |
|
138.7-141.8 |
3.1 |
0.18 |
146.3-150.9 |
4.6 |
0.16 |
JW18-40 |
RC |
|
-90 |
224.0 |
0-15.2 |
15.2 |
0.23 |
|
73.1-77.7 |
4.6 |
0.16 |
JW18-41 |
RC |
45 |
-50 |
307.9 |
9.1-15.2 |
6.1 |
0.14 |
|
21.3-39.6 |
18.3 |
0.16 |
JW18-42 |
RC |
135 |
-50 |
184.4 |
28.9-33.5 |
4.6 |
0.17 |
JW18-43 |
RC |
|
-90 |
225.6 |
0-10.7 |
10.7 |
0.22 |
|
65.5-71.6 |
6.1 |
0.34 |
JW18-44 |
RC |
270 |
-50 |
300.2 |
21.3-60.9 |
39.6 |
0.23 |
|
76.2-88.4 |
12.2 |
0.16 |
99.1-111.3 |
12.2 |
0.41 |
JW18-45 |
RC |
90 |
-65 |
282.0 |
45.7-56.4 |
10.7 |
0.32 |
|
114.3-117.4 |
3.1 |
0.34 |
JW18-46 |
RC |
90 |
-65 |
262.2 |
38.1-42.7 |
4.6 |
0.30 |
|
48.8-67.1 |
18.3 |
0.27 |
115.8-120.4 |
4.6 |
0.29 |
JW18-47 |
RC |
90 |
-50 |
245.4 |
0-12.2 |
12.2 |
0.21 |
|
65.5-73.1 |
7.6 |
0.22 |
JW18-48 |
RC |
|
-90 |
233.8 |
0-25.9 |
25.9 |
0.18 |
JW18-49 |
RC |
90 |
-50 |
153.9 |
No significant assays |
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.
Mac Jackson, Gold Standard’s Chief Geologist
commented: “Each phase of our drill program has been successful in
growing the Jasperoid Wash Deposit, and it remains open in multiple
directions. Core holes JW18-29 and JW18-30 helped us better
define important fault and host rock control to target higher gold
grades within the north-striking fault corridor. Jasperoid
Wash with its down to the west displacement of the Penn-Perm host
section is the mirror image of Dark Star and Dixie. A
predictive exploration model is emerging, and we have kilometers of
untested, altered rock within the Jasperoid Wash and 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
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