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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 123,739,878
Close 2015-01-13 C$ 0.56
Market Cap C$ 69,294,332
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Gold Standard drills 48.8 m of 1.16 g/t Au at Pinion

2015-01-14 06:24 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD PHASE 2 DRILLING INTERSECTS SHALLOW OXIDE GOLD AT SOUTHEAST PINION AND EXTENDS THE GOLD ZONE 400M EAST AT FAR SOUTHEAST PINION, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has released assay results of 10 reverse circulation holes from the southeast portion of the Pinion phase 2 drilling program at its 100-per-cent-owned Railroad-Pinion project on Nevada's Carlin trend. All 10 holes returned significant intercepts with gold values well above the 0.14-gram-per-tonne cut-off grade established by APEX Geoscience Ltd. of Edmonton in its National Instrument 43-101 resource estimate announced on Sept. 10, 2014 (see news release), with intercepts up to 48.8 metres of 1.16 grams per tonne gold in hole PIN14-38.

Commenting on the latest results, Gold Standard president and chief executive officer Jonathan Awde noted: "Our drilling continues to remove limitations to the size of the Pinion deposit. At every stage of our work, we have uncovered more opportunities to expand its potential. Pinion has already exceeded our most bullish expectations and we believe there is much more to come."

Phase 2 drilling was designed 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. Phase 2 (now completed) included 10,893 metres of RC drilling in 44 holes. Assays are pending for a further 19 holes, including PIN14-24, -29, -32, -35, -39, -41, -43 through -46, -48, -49 and -51 through -57.

Key observations:

  • Three target areas were tested by these holes: New Structural Block, Southeast Pinion and Far Southeast Pinion. The key multilithic, dissolution collapse breccia host (referred to as mlbx) was intersected in all 10 holes and the areal extent of the mlbx was expanded to the south and east. Prior to the GSV drilling, these target areas were characterized by no historic drill holes or historic holes spaced 60 to 400 metres apart. Similar to the targets explored in phase 1 drilling, gold mineralization is continuous and widespread within this highly permeable, silicified 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.
  • At the New Structural Block target, five holes successfully intersected gold-bearing mlbx in this previously untested structural block between the South fault and the Uplifter fault. PIN14-38 intersected an entirely oxidized interval of 48.8 metres of 1.16 grams per tonne gold from 202.7 to 251.5 metres, including a higher-grade internal interval of 6.1 metres of 6.78 grams per tonne gold. PIN14-38 is on the edge of the drill pattern and this oxide mineralization is open to the south. The gold zone in holes PIN14-40, -42 and -47 is dominantly oxidized, but select intervals are mixed oxide-carbon-sulphide.
  • At the Southeast Pinion target, where the gold-bearing horizon has tended to be deeper, drill holes PIN14-36 and PIN14-37 intersected shallow oxidized gold mineralization (16.8 metres of 0.75 gram per tonne gold and 12.2 metres of 0.71 gram per tonne gold, respectively) starting at approximately 40 metres below surface. In this target area, a gold-bearing layer has unexpectedly developed higher in the stratigraphic section within the Tripon Pass formation silty micrite, resulting in a gold horizon present at a shallow depth.
  • At the Far Southeast Pinion target, gold-bearing intercepts in PIN14-25 successfully expanded the lateral extent of the breccia-hosted mineralization 400 metres to the southeast. Similar to the company's North Bullion deposit 10 kilometres to the north, gold mineralization is in the footwall of the Bullion fault corridor. This gold intercept is open in multiple directions and phase 3 drilling in 2015 will follow up on these promising results.
  • The three target areas noted above exhibit similar geological patterns including: (1) an increase in the volume and thickness of intrusive rock; (2) the presence of lamprophyre, an igneous rock commonly associated with gold deposits on the Carlin trend; (3) gold-bearing mlbx in the hangingwall of a shallow, west-dipping thrust fault that is a laterally continuous feature as tracked through the drilling. Due to the potential for repetition of the prospective mlbx section, deeper untested targets similar to those at North Bullion are envisioned in this portion of Pinion.

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

PIN14-25    RC           431.4    259.1     298.7      39.6  0.49
Including                         289.6     298.7       9.1  1.13
                                  303.3     307.9       4.6  0.30
                                  381.1     408.5      27.4  0.26
PIN14-28    RC           243.9    160.0     189.0      29.0  0.44
PIN14-34    RC           262.2    125.0     144.8      19.8  0.21
                                  150.9     172.2      21.3  0.44
PIN14-36    RC           196.6     38.1      54.9      16.8  0.75
Including                          38.1      42.7       4.6  1.50
                                   77.7      80.8       3.1  0.20
                                   86.9     112.8      25.9  0.26
                                  121.9     126.5       4.6  0.16
PIN14-37    RC           224.1     53.4      65.6      12.2  0.71
                                  125.0     150.9      25.9  0.36
                                  164.6     175.3      10.7  0.48
                                  179.9     183.0       3.1  0.21
PIN14-38    RC           274.4     22.9      24.4       1.5  0.21
                                  202.7     251.5      48.8  1.16
Including                         243.9     250.0       6.1  6.78
PIN14-40    RC           349.1     76.2      83.8       7.6  0.32
                                   88.4      88.9       1.5  0.14
                                  135.7     137.2       1.5  0.40
                                  160.1     184.5      24.4  0.25
                                  189.0     208.8      19.8  0.42
PIN14-42    RC           239.3     80.8      91.5      10.7  0.39
                                  160.0     163.1       3.1  0.16
                                  169.2     239.3      70.1  0.56
PIN14-47    RC           298.8     56.4      64.0       7.6  0.28
                                  132.6     135.7       3.1  0.26
                                  143.2     146.3       3.1  0.59
                                  154.0     161.6       7.6  0.21
                                  172.2     175.3       3.1  0.18
                                  187.5     199.7      12.2  0.25
                                  243.9     272.9      29.0  0.42
                                  291.2     298.8       7.6  0.70
PIN14-50    RC           311.0     38.1      39.6       1.5  0.23
                                   42.7      44.4       1.5  0.34
                                   45.7      47.2       1.5  0.19
                                  152.4     166.1      13.7  0.34
                                  184.5     204.3      19.8  0.65
Including                         192.0     196.6       4.6  2.03
                                  207.3     210.4       3.1  0.16

Note: Gold intervals reported in this table were calculated using 
a 0.14-gram-per-tonne cut-off. Weighted averaging has been used to 
calculate all reported intervals. True widths are estimated at 70
to 95 per cent of drilled thicknesses.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "This round of drill holes has featured several important achievements including an expansion of the Pinion gold system 400 metres to the southeast and discovery of shallow mineralization near the center of the southeast part of the deposit. Drilling in the southeast part of Pinion has also strengthened the case for a deep, North Bullion-type target in an untested lower collapse breccia zone. Thickening intrusive rocks including lamprophyre, more than six metres of nearly seven-gram material in hole 38, and higher concentrations and thicknesses of arsenic and gold spread through the Chainman sandstone, all point to the prospect of a large, untested breccia-hosted gold zone below current drill depths. We plan to test this target during phase 3 drilling in 2015."

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. A blank 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.

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