Mr. Jonathan Awde reports
GOLD STANDARD BEGINS PHASE 2 DRILLING AT THE RAILROAD-PINION PROJECT, CARLIN TREND, NEVADA
Gold Standard Ventures Corp. has provided an update about its plans for the phase 2 exploration program at its 100-per-cent-owned/-controlled Railroad-Pinion project in Nevada's Carlin trend. A budget of $2.5-million has been allocated to complete approximately 9,100 metres of RC drilling at the Pinion oxide gold deposit and Bald Mountain oxide gold-copper target. One RC drill is currently drilling at Bald Mountain and a second RC rig will mobilize to Pinion in mid-September. Financing for this program was obtained in the financing which closed on Aug. 19, 2014.
Pinion's first National Instrument 43-101-compliant resource estimate is nearing completion using the data collected during the phase 1 Pinion program. The estimate is expected to be released later this month.
Key highlights of the phase 2 program
Pinion:
-
Complete about 6,300 metres of RC drilling to extend areas of known
shallow oxide gold mineralization along strike and at depth, and to test
new targets identified by the phase 1 program and a new 3-D geologic
model. Gold
mineralization at Pinion is very continuous and widespread within a
highly permeable, silicified and oxidized collapse breccia which is
favourably sandwiched between relatively impermeable silty micrite of the
overlying Mississippian Tripon Pass formation and thick-bedded
calcarenite of the underlying Devonian Devil's Gate formation;
- Complete a 10-square-kilometre soil grid designed to enhance near-surface oxide gold targets at Pinion and, follow up on areas of
favourable alteration and structure identified by 1:6,000 geologic mapping
west of the known Pinion deposit;
- Acquire additional lines of CSAMT geophysical data to identify drill
targets in the footwall of the Bullion fault corridor, a major north-south-striking normal fault that imparts structural controls on gold
mineralization at Pinion and North Bullion. Gravity data and cross-section interpretations on the southeastern extent of Pinion indicate
the likely recurrence of the geological architecture at the North
Bullion deposit, a target which has not been tested by historic
drilling. CSAMT has proven accuracy in tracing this fault at North
Bullion;
- Complete additional metallurgy.
Bald Mountain:
-
Drill five vertical RC holes (about 2,800 metres) to expand the limits
of known oxide gold and copper mineralization outside from the area of
historic drilling and RRB13-01, a 2013 core hole that intersected two
unique and separate zones of oxidized, collapse-breccia-hosted
mineralization. Intercepts included 56.1 metres of 1.47 grams per tonne gold immediately above 23.3 metres of 0.4 per cent copper. Twelve holes in the target currently outline an area approximately
210 metres north-south by 550 metres east-west containing an oxidized,
polymetallic system that remains open in all directions;
- Complete a 14-square-kilometre ground magnetic survey over the Bald
Mountain gold-copper-silver target, the Sylvania silver-copper-lead target and the Eocene-aged Bullion stock. In this geologic setting, marginal to the Bullion
stock and within proximal dike swarms, magnetite and pyrrhotite are
spatially associated with zones of precious and base metal
mineralization.
Mac Jackson, Gold Standard's vice-president of exploration, stated: "Most of our phase 2 program is designed to define and expand the oxide mineral zones at the Pinion deposit and Bald Mountain target, both of which are open in multiple directions. In addition, we will continue to explore the rest of our highly prospective, 115-square-kilometre property on the Carlin trend with phase 2 soil sampling, ground magnetics, CSAMT and mapping that will help lead to our next new discovery at Railroad."
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 drill to the sample preparation facility was continuously monitored. Core was cut at the company's facility in Elko, Nev., and one-half was sent to the lab for analysis and the other half retained in the original core box. A blank, quarter-core duplicate or certified reference material was inserted approximately every 10th sample. The samples are delivered to ALS Minerals preparation facility in Elko, Nev. The samples are crushed and pulverized and sample pulps are shipped to ALS Minerals certified laboratory in Vancouver. Pulps are digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy finish on a 30-gram split. All other elements are determined by ICP analysis. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain parameters for acceptance to insure accurate and verifiable results.
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Steven R. Koehler, Gold Standard's manager of projects, BSc, geology, CPG-10216, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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