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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 122,295,113
Close 2014-09-23 C$ 0.70
Market Cap C$ 85,606,579
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Gold Standard Ventures starts drilling at Pinion

2014-09-24 06:04 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD ADDS A SECOND DRILL AT THE RAILROAD-PINION PROJECT, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has begun reverse circulation drilling on the Pinion gold deposit at its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. Two RC rigs are now active on the project: one drill is focused on extending known zones of shallow oxide gold mineralization at Pinion, while the second drill is continuing to test for extensions to the Bald Mountain oxide gold-copper target.

At the Pinion deposit, APEX Geoscience has estimated an indicated mineral resource of 20.84 million tonnes grading 0.63 gram per tonne gold, totalling 423,000 ounces of gold, and an inferred resource of 55.93 million tonnes grading 0.57 gram per tonne gold, totalling 1,022,000 ounces of gold using a cut-off grade of 0.14 gram per tonne gold (see news release of Sept. 10, 2014).

Key highlights of the phase 2 program

Pinion:

  • At Pinion, the objective of the current 7,000-metre program is to extend areas of known shallow oxide gold mineralization along strike and at depth, test new targets identified by the phase 1 program and expand the resource. The oxide gold resource is hosted in a multilithic, dissolution collapse breccia which exhibits very predictable lateral and strike continuity and remains open in multiple directions. Systematic relogging, cross-section interpretation and 3-D modelling have identified target zones along strike of the deposit in areas where previous operators considered the potential to be limited based on insufficient drilling. The RC drill at Bald Mountain will move to Pinion later in September to assist with this program.
  • A 10-square-kilometre soil grid is 15 per cent complete. The soil program will provide systematic geochemical coverage over the entire area considered most prospective for near-surface oxide gold targets at Pinion, and follow up on areas of favourable alteration and structure identified by gravity and recently completed 1:6,000 geologic mapping west of the Pinion deposit. The expectation is that systematic sampling will identify further targets for potential resource expansion.

Bald Mountain:

  • Three of five vertical RC holes have been completed at the Bald Mountain target to expand the limits of known oxide gold, copper and silver mineralization by stepping out from last year's intercept of 56.1 metres of 1.47 grams per tonne gold and 35.1 metres of 0.31 per cent copper in RRB13-01 (see news release of Oct. 2, 2013). Further work on this high-potential target was deferred until landholdings in the area were consolidated. The first three holes have intersected the targeted multilithic dissolution collapse breccia immediately above the Devils Gate formation. All results are pending.
  • The 14-square-kilometre ground magnetic survey over the Bald Mountain gold-copper-silver target, the Sylvania silver-copper-lead target and the Eocene age Bullion stock is 90 per cent complete. 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 which strongly support the use of this geophysical tool.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "Our systematic geologic work has identified multiple targets and directions to grow the Pinion deposit. Our main goal is to find additional shallow and thicker, higher-grade oxide gold mineralization along prospective structures. Given the dip in metal prices and a related slowdown in industrywide exploration, our program is benefiting from lower costs and more experienced crews to obtain very attractive efficiencies. We are encouraged by the possibilities we see and are ready to launch this more extensive phase 2 drill program at Pinion. We look forward to reporting results at both our Pinion and Bald Mountain targets throughout this autumn."

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, BSc geology, CPG-10216, Gold Standard's manager of projects, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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