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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 252,163,111
Close 2018-04-16 C$ 2.16
Market Cap C$ 544,672,320
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Gold Standard drills 19.8 m of 2.43 g/t Au at Railroad

2018-04-17 06:46 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD REPORTS POSITIVE INFILL DRILLING RESULTS AT THE PINION OXIDE GOLD DEPOSIT, CARLIN TREND, NEVADA

Gold Standard Ventures Corp. is providing an update on the 2018 infill drilling program at the Pinion oxide gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. Two reverse circulation and two core rigs have completed 8,126 metres of infill drilling in 87 holes (refer to the Pinion plan map at the company's website). Results from 22 Pinion holes are summarized in the table.

This year's $25.8-million (U.S.) program includes an estimated 74,800 m of reverse circulation and core drilling in 381 holes (see Feb. 26, 2018, news release). Infill and development work at Dark Star and Pinion is expected to account for approximately 40,800 m of drilling in 296 holes while exploration should add another 34,000 m of drilling in 85 holes. Drilling to date and upcoming plans include the following:

  • One hundred fifteen infill and development drill holes, totalling 12,731 m, have been completed at the Dark Star and Pinion oxide gold deposits. Of these 115, results for 46 holes have now been released including this news release. Approximately 181 drill holes are yet to be completed as part of the Dark Star and Pinion development program. Geotechnical characterization studies are also under way at Pinion which will help determine pit slopes.
  • A 25- to 30-hole phase 1 exploration program will begin in late April at Jasperoid Wash where a new deposit was discovered in 2017. Drilling this year will reduce spacings and provide the requisite data for a maiden resource estimate by the end of 2018. Drilling will follow up last year's results of 103.7 m of 0.56 gram per tonne gold, including 30.5 m of 0.93 g/t Au in JW17-01 (see Oct. 5, 2017, news release); 54.9 m of 0.89 g/t Au, including 12.2 m of 1.66 g/t Au in JW17-04; 30.5 m of 0.73 g/t Au in JW17-08; and 77.7 m of 0.48 g/t Au in JW17-10 (see Jan. 11, 2018, news release).
  • On the exploration front, geologic mapping, CSAMT and trenching are now under way at the new Ski Track target, which is along the northwestern extension of the Jasperoid Wash structural corridor. RC scout drilling has also begun on a new exploration target west of Dixie.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Infill drilling is once again confirming the conservative nature of our Pinion and Dark Star resource estimates. A number of holes have either reported higher than expected grades, deeper intercepts that were not in the original model, converted waste to resources or found lateral extensions beyond the known resource limits. Attention now shifts to our exploration program at Jasperoid Wash where we believe we have a strong possibility of reporting a significant addition to our resource package."

Key highlights from Pinion:

  • In the Pinion Main zone, PR18-03 intersected 19.8 m of 2.43 g/t Au, including 12.2 m of 3.53 g/t Au. This near-surface, oxide intercept is higher grade than predicted by the resource model.
  • On the west side of Pinion, PR18-11 intersected 21.3 m of 0.72 g/t Au and PR18-30 intersected 10.7 m of 0.89 g/t Au. These positive results extend shallow oxide mineralization to the west and, in the case of PR18-30, convert waste blocks to mineralized blocks in the resource block model.
  • On the south side of Pinion, PR18-14 intersected 33.5 m of 0.83 g/t Au, including 6.1 m of 2.68 g/t Au. The results confirm the resource block model and indicate that gold mineralization extends below the current resource model.
  • Pinion deposit leach columns, evaluating high pressure grind roll (HPGR) leach kinetics, are in progress. HPGR processing is expected to have an economic benefit compared with conventional crushing. Once complete, HPGR results for Pinion and Dark Star will be incorporated into the preliminary economic assessment, which is scheduled for completion during the second half of 2018.

Pinion drill results are as shown in the table.

                    RAILROAD-PINION DRILL RESULTS

Drill hole       Intercept (m)     Thickness (m)    Grade (Au g/t)

PR18-01             44.2-54.9              10.7              0.49
PR18-02             48.7-51.8               3.1              0.15
PR18-03              1.5-21.3              19.8              2.43
Including            1.5-13.7              12.2              3.53
                    59.5-67.1               7.6              0.34
PR18-04             18.3-27.4               9.1              0.17
PR18-05             53.4-68.6              15.2              0.79
Including           53.4-58.0               4.6              1.07
                    83.8-85.3               1.5              0.17
PR18-06             51.8-71.6              19.8              1.47
Including           62.5-71.6               9.1              2.19
PR18-07             39.6-60.9              21.3              0.33
PR18-08             47.2-70.1              22.9              0.47
                    89.9-91.4               1.5              0.28
PR18-09                 0-1.5               1.5              0.15
                    29.0-42.7              13.7              0.37
PR18-10             44.2-56.4              12.2              0.47
PR18-11             25.9-47.2              21.3              0.72
PR18-12              1.5-21.3              19.8              0.42
Including            7.6-12.2               4.6              1.24
PR18-13           120.4-161.6              41.2              0.43
Including         135.6-138.7               3.1              1.04
PR18-14           112.8-146.3              33.5              0.83
Including         134.1-140.2               6.1              2.68
PR18-15            93.0-131.1              38.1              0.50
PR18-16           102.1-129.5              27.4              0.47
PR18-21             44.2-62.5              18.3              0.44
PR18-23             68.6-77.7               9.1              0.40
                   89.9-132.6              42.7              0.27
                  144.8-146.3               1.5              0.18
PR18-24            73.1-108.2              35.1              0.55
                  120.4-121.9               1.5              0.15
PR18-25             65.5-88.4              22.9              0.43
                   93.0-126.5              33.5              0.38
                  141.7-144.8               3.1              0.24
PR18-28             56.4-64.0               7.6              0.32
PR18-30               1.5-3.0               1.5              0.15
                    38.1-48.8              10.7              0.89
                    54.9-56.4               1.5              0.18

Gold intervals reported in this table were calculated using a 
0.14 g/t Au cut-off. Weighted averaging has been used to 
calculate all reported intervals. True widths are estimated at 
70 to 90 per cent of drilled thicknesses.

Don Harris, Gold Standard's senior development geologist, stated: "The Pinion development program is designed to infill drill spacing to 30 m in the potential minable portions of the gold mineralization and expand the footprint to the west where mineralization comes to surface. Results to date have generally met or exceeded the model expectations, with some areas of higher grade (PR18-03) and some areas of higher AuCN ratios (80 to 90 per cent) than currently modeled. These upgrades can have a positive impact to the PEA currently in progress on the project."

Sampling methodology, chain of custody, quality assurance/quality control

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 or certified reference material was inserted approximately every 10th sample. The samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to Bureau Veritas certified laboratory in Sparks, Nev., or Vancouver, B.C. Pulps were digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30-gram split. Overlimit 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 ensure accurate and verifiable results. Final drill collar locations are surveyed by differential GPS by Apex Surveying LLC of Spring Creek, Nev.

The scientific and technical content contained in this news release has 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.

About Gold Standard Ventures Corp.

Gold Standard is an advanced-stage gold exploration company focused on district-scale discoveries on its Railroad-Pinion gold project, located within the prolific Carlin trend. The 2014 Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidate the company's premier land package on the Carlin trend. The Pinion deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 gram per tonne Au, totalling 630,300 ounces of gold, and an inferred mineral resource of 61.08 million tonnes grading 0.55 g/t Au, totalling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au. The Dark Star deposit, 2.1 kilometres to the east of Pinion, has a mineral 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, totalling 265,100 ounces of gold, and an inferred mineral resource of 17.05 million tonnes grading 1.31 g/t Au, totalling 715,800 ounces of gold, using a cut-off grade of 0.2 g/t Au.

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