02:49:05 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Gold Standard Ventures Corp
Symbol GSV
Shares Issued 112,445,113
Close 2014-08-05 C$ 0.75
Market Cap C$ 84,333,835
Recent Sedar Documents

Gold Standard drills 25.9 m of 0.57 g/t Au at Pinion

2014-08-06 06:21 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD MOVES TO RESOURCE ESTIMATION AT PINION OXIDE GOLD DEPOSIT, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has released assay results of the final three holes from the Pinion phase 1 drilling program at its 100-per-cent-owned and -controlled Railroad-Pinion project in Nevada's Carlin trend. These results continue to meet three key objectives of the initial 13-hole drill program: verifying historical drill data; expanding the known limits of the gold mineralization; and demonstrating the predictability of GSV's new geological model. Data collected during the phase 1 program, and continuing geological activities, will enable the completion of the first National Instrument 43-101-compliant resource estimate at Pinion, which is expected during the third quarter.

Drilling highlights include:

  • PIN14-10, an RC infill hole between historic RC holes SB-123 (9.2 metres of one gram per tonne gold) and SB-072 (18.3 metres of 0.44 gram per tonne gold), returned 25.9 metres of 0.57 gram per tonne gold.
  • PIN14-12, a core hole in the North zone, returned 47.1 metres of 0.79 gram per tonne gold. This hole successfully twinned and verified results from historical RC hole CPR-30 (51.8 metres of 0.74 gram per tonne gold).
  • PIN14-13, a 65-metre easterly RC stepout from SB-073 (18.3 metres of 1.64 grams per tonne gold), returned 19.8 metres of 0.88 gram per tonne gold. This oxidized mineralization remains open in multiple directions.

Key observations:

  • The targeted multilithic, dissolution collapse breccia host was intersected in all 13 phase 1 drill holes. Gold mineralization in these holes is continuous and widespread within this highly permeable, silicified and oxidized breccia, which is favourably sandwiched between relatively impermeable silty micrite of the overlying Mississippian Tripon Pass formation and thick-bedded calcarenite of the underlying Devil's Gate formation.
  • Gold-bearing intercepts in PIN14-10 and PIN14-13 expanded the lateral extent of the breccia-hosted gold zone and demonstrate the upside exploration potential for continuous oxidized gold mineralization between the North and Main zones. This area between the zones is characterized by a limited number of widely spaced historic drill holes that tested the multilithic, dissolution collapse breccia host.

                                DRILL RESULTS 
                                                       Thickness    Au grade
Drill hole  Method           TD (m)  From (m)  To (m)         (m)       (g/t)

PIN14-10    RC               187.5     115.8   141.7        25.9        0.57
                                       157.0   158.5         1.5        0.42
PIN14-12    Core             128.7      66.3   113.4        47.1        0.79
PIN14-13    RC               253.0     172.2   192.0        19.8        0.88
Including                              181.4   187.5         6.1        1.66

Note: Gold intervals reported in this table were calculated using a 0.20-
gram-per-tonne-gold cut-off. Weighted averaging has been used to calculate 
all reported intervals. True widths are estimated at 85 per cent of drilled
thicknesses.

In addition to the phase 1 results, Gold Standard has been systematically collecting and compiling geologic data for the Pinion deposit. Since purchasing and consolidating the remaining portion of the Pinion gold deposit (see Gold Standard news release dated March 5, 2014), Gold Standard geologists have relogged 174 historic RC and core holes, completed 21 east-west and six north-south cross-sections, collected 171 samples for specific gravity determinations from 12 historic and four Gold Standard core holes, and completed detailed geologic mapping of the Pinion area. These technical data have been delivered to APEX Geoscience of Edmonton for completion of an initial National Instrument 43-101-compliant resource estimate. Completion of this work is expected in the third quarter.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "These drill results from our phase 1 program at Pinion give us tremendous confidence that our new geologic model and database will support our primary goal of generating a NI 43-101 resource estimate. Equally as important, our detailed geological and geophysical work has resulted in the identification of several new targets, showing Pinion to be a strong gold system with upside potential and room to grow in multiple directions. We are excited to begin phase 2 drilling and test these new targets as soon as we receive the resource estimate from our independent consultants."

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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.