Gold Standard Ventures Corp. (TSX: GSV; NYSE AMERICAN: GSV) (“Gold
Standard” or the “Company”) today reported more oxide gold results
from 15 reverse-circulation (“RC”) and core holes at the Dark Star
deposit on its 100%-owned/controlled Railroad-Pinion Project in
Nevada’s Carlin Trend (refer to Dark Star drill hole plan map at
the following link
https://goldstandardv.com/site/assets/files/4353/ds-stepout-oct-2019.pdf;
and significant intercept table at the following link
https://goldstandardv.com/site/assets/files/4353/dark-star-development-significant-dh-intercepts-october.pdf).
Takeaways from the recent drilling include: 1)
in the northern portion of Dark Star, DC19-01 intersected 160.8m of
1.80 g Au/t, including two higher-grade intervals of 44.3m
of 2.55 g Au/t and 22.3m of 3.58 g Au/t; 2) drill results
in the Dark Star Saddle returned zones of continuous oxide gold
mineralization that likely expand the resource and add potential
efficiencies to the mine plan; and 3) four drill holes to the east
of Dark Star have identified a new, shallow, alluvium-hosted oxide
target that is open for expansion.
Jonathan Awde, CEO and Director of Gold Standard
commented: “Our Preliminary Feasibility Study (“PFS”) proves that
two of Railroad-Pinion’s deposits have robust economics at the
current gold price and no serious technical hurdles to overcome. As
the engineers work to optimize this first pass PFS, our focus is to
enhance the project economics, extend the mine life through the
conversion of inferred ounces to reserves, and reduce the up-front
capital costs. We have made a number of very promising discoveries
over the past five years which are not sufficiently advanced to
include either in our resource estimates or mine plans but we are
highly confident that these opportunities have the potential to add
significantly to our current resources.”
Key Highlights from Dark
Star:
- In the northern portion of the deposit, core hole DC19-01,
which was suspended at 231m due to weather conditions in March, was
completed to a depth of 304.8m. The initial intercept of
117.3m of 1.54 g Au/t (see April 25, 2019 news release) has been
lengthened and upgraded to a final intercept of 160.8m of 1.80 g
Au/t, including two higher-grade intervals of 44.3m of 2.55
g Au/t and 22.3m of 3.58 g Au/t. These results are
consistent with the current resource block model.
- In the northern portion of Dark Star, one deep scout drill hole
is testing the newly recognized Deep Dark Star
target, a potential feeder / breccia-style opportunity beneath the
current oxide reserve. The RC precollar portion of the hole
intersected 126.5m of 0.76 g Au/t, including two higher-grade
intervals of 7.6m of 1.45 g Au/t and 13.7m of 1.25 g
Au/t. The core tail portion of the hole remains in
progress.
- Additionally, 315 individual 3-meter horizontal channel samples
were collected from north Dark Star roadcuts that were created for
the infill drilling program. Results ranged from <0.005 to
7.41 g Au/t, and included three significant continuous intervals
including: 18.0m of 3.08 g Au/t, 24.0m of 0.93 g
Au/t and 21.0m of 0.31 g Au/t, based on a 0.14 g Au/t
cutoff. The new results outline a northwest-striking zone of
surface oxide mineralization that is approximately 20m wide by 110m
long. These results will be incorporated into the next
resource update.
- Infill drill results in the Dark Star Saddle (DR19-78, -80 and
-82) returned zones of continuous oxide gold mineralization that
expand the resource potential in this structurally complex
zone. Results along with additional drilling will be utilized
to enhance the mine plan/ramp design in the connection area between
the North and Main portions of the deposit.
- Stepout drilling to the east of Main Dark Star (DR19-68, -69,
-76 and -77) returned intervals of oxide mineralization
approximately 135-180m east of known bedrock-hosted
mineralization. This is a new target area where intercepts
are hosted in Quaternary gravels, which eroded from Main Dark
Star. Drilling has roughly outlined an area 150x150m that is
open to the north, east and south for further drill testing.
Dark Star drill results are as follows:
Drill Hole |
Method |
Azimuth |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
DR19-66 |
RC |
090 |
-65 |
259.1 |
No assays > 0.14 g Au/t |
DR19-67 |
RC |
270 |
-65 |
269.8 |
No assays > 0.14 g Au/t |
DR19-68 |
RC |
|
-90 |
67.1 |
64.0-67.1 |
3.1 |
0.57 |
DR19-69 |
RC |
|
-90 |
257.6 |
19.8-22.9 |
3.1 |
0.15 |
DR19-75 |
RC |
|
-90 |
99.1 |
No assays > 0.14 g Au/t |
DR19-76 |
RC |
|
-90 |
86.9 |
4.6-25.9 |
21.3 |
0.21 |
DR19-77 |
RC |
|
-90 |
291.1 |
13.7-18.3 |
4.6 |
0.19 |
|
24.4-30.5 |
6.1 |
0.16 |
DR19-78 |
RC |
|
-90 |
248.4 |
143.3-169.2 |
25.9 |
0.30 |
DR19-79 |
RC |
090 |
-65 |
233.2 |
No assays > 0.14 g Au/t |
DR19-80 |
RC |
|
-90 |
205.7 |
125.0-144.8 |
19.8 |
0.43 |
DR19-81 |
RC |
|
-90 |
141.7 |
0-4.6 |
4.6 |
0.63 |
DR19-82 |
RC |
|
-90 |
233.2 |
44.2-56.4 |
12.2 |
0.21 |
|
112.8-135.7 |
22.9 |
0.37 |
DR19-83 |
RC |
270 |
-65 |
224.0 |
No assays > 0.14 g Au/t |
DC19-01 |
Core |
270 |
-83.5 |
304.8 |
74.1-104.5 |
30.4 |
0.48 |
IncludingIncluding |
113.7-274.5 |
160.8 |
1.80 |
144.2-188.5 |
44.3 |
2.55 |
241.8-264.1 |
22.3 |
3.58 |
DS19-02 |
RC/Core |
090 |
-69 |
In progress |
38.1-44.2 |
6.1 |
0.39 |
IncludingIncluding |
67.1-193.6 |
126.5 |
0.76 |
88.4-96.0 |
7.6 |
1.45 |
149.4-163.1 |
13.7 |
1.25 |
Gold intervals reported in this table were
calculated using a 0.14 g Au/t cutoff for oxide
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 General Manager
commented: “With the prefeasibility study milestone behind us, we
can now focus on optimizing the mine plan, step out and exploration
drilling at Dark Star and Pinion to enhance the existing reserves,
and property wide exploration. Results from recent drilling
at Dark Star will allow us to redesign the ramp system and lower
strip at the project. The discovery of mineralization east of
the Dark Star pit is at/near-surface oxide material, which could
compliment the current mine plan.”
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 Pinion and Dark Star has created
potential near-term development option and further consolidates the
Company’s premier land package on the Carlin Trend.
Pinion has a resource estimate prepared in
accordance with NI 43-101 consisting of an Measured and Indicated
Mineral Resource of 28.93 million tonnes grading 0.58 g/t Au and
4.22 g/t Ag, totaling 544,000 ounces of gold and 3,929,000 ounces
of silver, and an Inferred Resource of 10.81 million tonnes grading
0.64 g/t Au and 3.80 g/t Ag, totaling 224,000 ounces of gold and
1,322,000 ounces of silver, using a cut-off grade of 0.14 g/t Au
and constrained by a $1,500/Au ounce LG Cone.
The Dark Star deposit has a resource estimate
prepared in accordance with NI 43-101 consisting of an Measured and
Indicated Mineral Resource of 32.72 million tonnes grading 0.88 g/t
Au, totaling 921,000 ounces of gold and an Inferred Resource of
2.48 million tonnes grading 0.70 g/t Au, totaling 56,000 ounces of
gold, using a cut-off grade of 0.14 g Au/t and constrained by a
$1,500/Au ounces LG Cone.
North Bullion 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.
Jasperoid Wash has a resource estimate prepared
in accordance with NI 43-101 consisting of an Inferred Resource of
10.57 million tonnes grading 0.33 g/t Au, totaling 111,000 ounces
of gold, using a cut-off grade of 0.14 g Au/t and constrained by a
$1,500/Au ounces LG Cone.
Neither the Toronto Stock Exchange 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 DirectorFOR
FURTHER INFORMATION PLEASE CONTACT: Jonathan Awde President
Tel: 604-669-5702 Email:
info@goldstandardv.com Website:
www.goldstandardv.com
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