Gold Standard Ventures Provides Exploration Update and Strengthens Technical Team
August 03 2021 - 5:45PM
Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) (“Gold
Standard” or the “Company”) today announced drill results from
reverse circulation (“RC”) holes and core drilling during 2020 at
the POD and Sweet Hollow oxide gold deposits and a Central Bullion
skarn target.
Key Exploration Highlights:
- 21 RC drill
holes were completed as step outs to the current oxide resources at
POD and Sweet Hollow. The oxide mineralization result reported in
RR20-04 (12.1m @ 2.07 g Au/t) extends known mineralization by 30 to
60 meters.
- Elevated silver
grades were encountered in the drilling of up to 130 g Ag/t.
Currently, silver is not modeled in the resources at POD and Sweet
Hollow.
- Five drill holes were completed at
the historical Central Bullion mining district, focused on
historical producing zones. Historic records indicate high grade
silver, copper, lead, and zinc production, with small amounts of
gold, that were processed from this district. Drill hole RRB20-03
intersected 64.2m @ 20 g Ag/t, 0.50% Cu, 0.60% Zn, 0.10% Pb, 0.06 g
Au/t starting from surface.
Jason Attew, President and CEO, commented,
“Drilling at the POD and Sweet Hollow oxide gold deposits expanded
known mineralization, accomplishing a key objective of the drilling
program. This area, along with Jasperoid Wash and LT, showcase the
potential for future satellite pits to the South Railroad Project.
Drilling in future seasons will continue to focus on expanding the
oxide resource base. At Central Bullion, drilling intersected a
skarn target that warrants further work to understand the potential
of the system.”
Other Highlights:
- Six
metallurgical core drill holes (RR20-28 through RR20-33) were
completed to provide material for column leach testing on the
current oxide resource. All six holes encountered mineralization
consistent with the current resource model.
- Six RC drill holes (RR20-01, 02,
10, 18, 21, and 23) were completed testing exploration targets
outside the known resource area. Results indicate a possible
connection between the POD and Sweet Hollow mineralized zones.
Select POD, Sweet Hollow, Central
Bullion Drill Results:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept(m) |
Thickness(m) |
Au Grade (g Au/t) |
Ag Grade (g Ag/t) |
RR20-02 |
RC |
0 |
-70 |
422.2 |
33.5-41.1 |
7.6 |
0.29 |
129 |
and |
306.4-315.5 |
9.1 |
1.94 |
|
RR20-04 |
RC |
0 |
-90 |
82.3 |
3.1-15.2 |
12.1 |
2.07 |
|
RR20-08 |
RC |
0 |
-90 |
76.2 |
30.5-35.1 |
4.6 |
0.66 |
27 |
and |
61.0-70.1 |
9.1 |
0.80 |
31 |
RR20-30 |
Core |
0 |
-90 |
50.3 |
7.1-38.4 |
31.3 |
0.53 |
|
RR20-31 |
Core |
270 |
-45 |
76.2 |
6.6-29.8 |
23.2 |
0.45 |
|
RR20-32 |
Core |
0 |
-90 |
91.4 |
0-34.3 |
34.3 |
1.50 |
12 |
including |
2.3-21.5 |
19.2 |
2.16 |
|
RR20-33 |
Core |
0 |
-90 |
121.9 |
43.2-46.2 |
3.0 |
1.95 |
|
and |
60.1-75.5 |
15.4 |
0.27 |
17 |
and |
80.2-89.8 |
9.6 |
0.43 |
|
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept(m) |
Thickness(m) |
Au Grade (g Au/t) |
Ag Grade (g Ag/t) |
Cu Grade(%) |
Pb Grade(%) |
Zn Grade(%) |
RRB20-03 |
Core |
120 |
-60 |
130.5 |
0.0-64.2 |
64.2 |
0.06 |
20 |
0.50 |
0.10 |
0.60 |
including |
32.9-45.7 |
12.8 |
0.06 |
50 |
1.28 |
0.15 |
0.87 |
including |
54.3-60.7 |
6.5 |
0.03 |
28 |
0.95 |
0.02 |
2.61 |
and |
104.8-111.1 |
6.3 |
0.04 |
12 |
0.16 |
0.06 |
1.04 |
RRB20-04 |
Core |
110 |
-45 |
197.5 |
44.2-51.2 |
7.0 |
0.03 |
2 |
0.62 |
0.08 |
3.41 |
Note: Gold intervals reported in this table were
calculated using a 0.14 g Au/t equivalent cutoff for oxide
mineralization oxide with >50% AuCN/AuFA ratios. POD and Sweet
Hollow silver values reported where >8 g Ag/t. Weighted
averaging has been used to calculate all reported intervals. True
widths are estimated at 80-90% of drilled thicknesses. Drill holes
presented in this table have a gold equivalent gram-meter product
greater than 10.
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance
All Gold Standard sampling was conducted under
the supervision of the Company’s senior 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.
Samples were delivered to Bureau Veritas Mineral Laboratories
preparation facility in either Sparks, NV or Hermosillo, Mexico
where they were crushed and pulverized. Resulting sample 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 in Vancouver, B.C. 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.
All third party laboratories and service
providers used or retained in the analysis of the samples are
independent of Gold Standard.
Qualified Persons
Richard Yancey, Geology Manager, is the
Company’s Qualified Person (QP) as defined by National Instrument
43-101 and has reviewed and approved the technical contents of this
news release.
Technical Staff Update
Jeff Fuerstenau will join the project team as
Process Manager, effective August 9, 2021. Mr. Fuerstenau brings
over 35 years of experience in the mining industry and was most
recently with Equinox Gold as the General Manager of the Mesquite
mine in Imperial County, California. Prior to that, he held
positions with Newmont, Wharf Resources, Pegasus, and Meridian
Gold.
Sergey Konyshev joined the technical team as
Senior Geologist, effective July 12, 2021. Dr. Konyshev brings
Nevada exploration experience and was most recently with Coeur
Mining as part of their North American exploration team. Prior to
that, he held positions with Yamana Gold, Aurora Geosciences and
Kiska Metals.
About Gold Standard
Gold Standard is developing the South Railroad
Project, an open pit, heap leach gold project located in Elko
County, Nevada. The project is part of a +21,000 hectare land
package on the Carlin Trend, and is 100% owned or controlled by
Gold Standard. The goal of the Company is to become the low-cost
junior producer of choice in Nevada, one of the premier mining
jurisdictions in the world.
Cautionary Note Regarding
Forward-Looking Statements
This news release contains forward-looking
statements, which relate to future events or future performance.
All statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
potential for POD, Sweet Hollow, LT, and Jasperoid Wash to be
satellite pits to the South Railroad Project (“SRP”); the ability
of the Company to increase the resource base at POD and Sweet
Hollow; the nature and extent of mineralization at the POD and
Sweet Hollow deposits; the Company’s future exploration plans and
objectives; the expected size and dimensions of the planned pits
and area of demonstrated mineral resources of the SRP; and about
the potential financing and construction of the SRP. Such
forward-looking statements reflect management’s current beliefs and
are based on assumptions made by and information currently
available to the Company, including that POD, Sweet Hollow, LT, and
Jasperoid Wash will become satellite pits to the SRP; that the
Company will be successful in increasing the resource base at POD
and Sweet Hollow; that the pit and the area of demonstrated mineral
resources at SRP will conform to that set out in the preliminary
feasibility study for SRP; and that the Company will be successful
in the financing and construction of the SRP. 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. These risks, uncertainties and other factors include,
among others: that POD, Sweet Hollow, LT, and Jasperoid Wash will
not become satellite pits to the SRP; that the Company may not
successfully increase the resource base at POD and Sweet Hollow;
that the pit and the area of demonstrated mineral resources at SRP
will be different than that set out in the Preliminary Feasibility
Study for SRP, as a result of the Company’s Feasibility Study or
otherwise; that the Company may not be successful in financing and
constructing the SRP; that the SRP may never be placed into
production; 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.
For further information
contact:Michael McDonaldVice President, Corporate
Development & Investor RelationsPhone: 1-604-687-2766E-Mail:
info@goldstandardv.com
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