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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