Mr. Jonathan Awde reports
GOLD STANDARD PHASE 2 DRILLING EXTENDS SHALLOW OXIDE GOLD RESOURCE POTENTIAL AT NORTH END OF PINION DEPOSIT, CARLIN TREND, NEVADA
Gold Standard Ventures Corp. has released assay results of eight reverse circulation holes from the northern portion of the Pinion phase 2 drilling program at its 100-per-cent-owned Railroad-Pinion project on Nevada's Carlin trend. All eight holes returned intercepts with gold values above the 0.14-gram-per-tonne-gold 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 19.8 metres of 0.44 gram per tonne gold in hole PIN14-24.
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 11 more holes, including PIN14-43 and -44, PIN14-48 and -49, and PIN14-51 through -57.
Key observations:
- Inclined RC drilling targeted two separate breccia hosts, a relatively
stratiform dissolution collapse breccia at the top of the Devil's Gate
limestone and a fault breccia along the Bullion fault corridor. These
breccia targets were tested down dip from continuous rock chip channel
samples of 130.8 metres of 0.35 gram per tonne gold; 14.0 metres of 0.38 gram per tonne gold; 9.5 metres of 0.331 gram per tonne gold; 6.1 metres of 0.16 gram per tonne gold; 6.1 metres of 0.21 gram per tonne gold; 3.1 metres of 0.35 gram per tonne gold;
2.4 metres of 0.56 gram per tonne gold (see Oct. 15, 2014, news release). Prior to the
GSV drilling, this target area was characterized by historic holes
spaced 30 to 150 metres apart. The host breccias were intersected in all eight
holes along a 430-metre north-south strike length, demonstrating that surface
sampling can be successfully pursued by drilling. Mineralization remains
open to the north along strike, down dip to the east, and to the west.
- PIN14-24 returned five at- or near-surface oxidized gold zones
including 19.8 metres of 0.44 gram per tonne gold and 12.2 metres of 0.34 gram per tonne gold. Oxidized
mineralization is hosted within quartz veined and brecciated Chainman
formation sandstone and mudstone, and fills a gap in the 3-D block model.
Intercepts in this hole extended the north margin on the north Pinion
gold zone.
- PIN14-32 intersected 21.3 metres of 0.38 gram per tonne gold at the fault contact between
Webb formation mudstone and Nevada formation dolomite. Oxidized
mineralization is associated with quartz veins, silicification, hematite
and fault breccia.
- PIN14-35 intersected four zones of gold mineralization including a
higher-grade gold zone of 4.6 metres of 2.79 grams per tonne gold within oxidized and
silicified fault breccia. This gold zone is immediately below a clay-altered quartz-feldspar porphyry dike, within the Bullion fault
corridor.
- Continuous rock chip channel samples, collected along newly constructed
drill access roads between PIN14-29 and -45, returned a composite
interval of 15.2 metres of 0.34 gram per tonne gold in oxidized, decalcified and silicified
breccia. Sample intervals were 3.1 metres with individual sample values
ranging from 0.20 to 0.50 gram per tonne gold. The interval is open on both ends as
the channel samples were limited to exposed breccia. This new area
represents a further target for resource expansion in the next phase of
drilling.
DRILL RESULTS
TD From To Thickness Au grade
Drill hole Method (m) (m) (m) (m) (g/t)
PIN14-24 RC 214.9 0 19.8 19.8 0.44
30.5 51.8 21.3 0.20
59.5 71.7 12.2 0.34
79.3 97.6 18.3 0.17
125.0 132.6 7.6 0.22
PIN14-29 RC 158.5 65.5 85.3 19.8 0.21
88.4 93.0 4.6 0.19
PIN14-32 RC 158.5 67.1 88.4 21.3 0.38
115.8 118.9 3.1 0.30
PIN14-35 RC 245.4 86.9 91.5 4.6 2.79
96.0 97.5 1.5 0.16
105.2 114.3 9.1 0.15
117.4 118.9 1.5 0.19
PIN14-39 RC 192.1 108.2 109.7 1.5 0.16
123.5 125.0 1.5 0.15
137.2 157.0 19.8 0.26
PIN14-41 RC 141.8 15.2 25.9 10.7 0.24
30.5 61.0 30.5 0.25
65.5 70.1 4.6 0.18
96.0 105.1 9.1 0.27
PIN14-45 RC 225.6 21.3 25.9 4.6 0.24
33.5 41.1 7.6 0.36
44.2 48.8 4.6 0.31
53.3 56.4 3.1 0.17
65.5 88.4 22.9 0.24
PIN14-46 RC 205.8 48.7 51.8 3.1 0.16
65.5 71.6 6.1 0.16
76.2 82.3 6.1 0.16
85.4 105.2 19.8 0.15
Note: Gold intervals reported in this table were calculated using a
0.14-gram-per-tonne-gold 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: "These results once again demonstrate the unusual continuity of gold-bearing mineralization in the Pinion area. Our work at North Pinion has progressed well from defining breccia-hosted, oxide gold zones at the surface in rock chip channel samples to successfully intersecting the down-dip extension of these gold zones in phase 2 drilling. Clearly, this work has filled some gaps and extended the breccia-hosted gold 430 metres to the north at Pinion. We also collected gravity and CSAMT data across the Bullion fault corridor moving north from Pinion which has established an exciting new structural target we plan to explore 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.
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