Gold Standard Begins Drilling at the Lewis Project, Battle Mountain District, Nevada
March 21 2019 - 5:30AM
Gold Standard Ventures Corp. (
TSX: GSV;
NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”)
today announced the start of a drill program at its 100%-owned
Lewis Project in the Battle Mountain Mining District, Lander
County, Nevada. The program includes: 1) approximately 1,555m of
drilling in four drill holes to test new, high-value targets in the
Buena Vista-Meagher Corridor and the Virgin deposit footwall; and
2) commencing work on an initial resource estimate in accordance
with NI 43-101 for the Virgin deposit (refer to Lewis plan map at
https://goldstandardv.com/lp/lewis-mar21-2019-drillmaps/).
The Lewis Project was acquired by Gold Standard
as part of its purchase of Battle Mountain Gold (see June 14, 2017
news release). The large (5,340 acre) mineral property has several
known mineralized zones and potential for new gold and silver
discoveries, while sharing a common boundary with Newmont Mining
Corporation’s Phoenix open pit mine, one of the most prolific
gold-copper-silver producers on the Battle Mountain-Eureka Trend.
The Phoenix Mine is likely to be included in the newly formed
Barrick-Newmont Nevada Joint Venture.
Jonathan Awde, CEO and Director of Gold Standard
commented: “In our view, Lewis has strategic value to the
neighboring Phoenix Mine by contributing additional gold resources,
and based upon permitted pit boundaries provides Phoenix the room
it needs to increase its pit size and access more of its own ore.
Our aim in this program is to enhance this strategic value.”
Key Highlights from Lewis:
- Two drill holes will target favorable Antler Sequence host
rocks along the north-northwest striking Buena Vista-Meagher
corridor, a strong gravity gradient coming out of Newmont’s Phoenix
open pit mine. This is a new target not previously tested by other
operators.
- Two holes will test for eastern, shallow oxide extensions to
the Virgin deposit approximately 700m north of the Phoenix open pit
mine. The holes are designed to test Antler Sequence host rocks
where northwest-striking faults intersect the Virgin fault
corridor, immediately north of historic intercepts of 24m of 1.20 g
Au/t in drill hole MAD-45 and 44.2m of 0.88 g Au/t and 17.3 g Ag/t
in drill hole MAD-74*.
- An initial NI 43-101 compliant resource estimate will be
completed for the Virgin deposit. The Virgin gold-silver deposit
consists of higher-grade, gold-silver bearing structures surrounded
by disseminated mineralization within a zone measuring
approximately 600m long, 120m wide and 180m deep. The Virgin fault
is a control for mineralization within the Phoenix mine and both
structural control and mineralization continue northward along it
onto Gold Standard’s project. Drilling by a previous operator
within the Virgin deposit (Madison Minerals 2002 – 2008) generated
the following results including: 21m of 7.93 g Au/t and 64.3 g Ag/t
in drill hole MAD-83; and 79.2m of 3.06 g Au/t and 13.30 g Ag/t in
drill hole MAD-20*.
Mac Jackson, Gold Standard’s Chief Geologist
commented: “These holes are the first test of the highly
prospective Buena-Vista Meagher Corridor immediately north of
Newmont’s Phoenix Mine. The strong gravity gradient and historic
shallow intercepts in upper plate Havallah Sequence rocks
(including 27.4m of 2.2 g Au/t in drill hole BVD-9A*) indicate that
structure and system should be present in the favorable Antler host
rocks at depth. These two wide-spaced scout holes are just a start
at exploring this large structural zone coming north out of the
Phoenix Mine.”
Sampling Methodology, Chain of Custody,
Quality Control and Quality AssuranceThe 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.
*The reader is cautioned that these gold and
silver intercepts are of unknown true thickness, and the results
have not been fully verified by Gold Standard’s geologists. These
data are presented to provide an indication of potential
mineralization at the Lewis Project and as a guide to future
exploration.
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.comWebsite: www.goldstandardv.com
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From Apr 2024 to May 2024
Gold Standard Ventures (AMEX:GSV)
Historical Stock Chart
From May 2023 to May 2024