Mr. Jonathan Awde reports
GOLD STANDARD PHASE 2 FINAL DRILL HOLES INTERSECT SHALLOW OXIDE GOLD AT NORTHWEST PINION AND EXTENDS THE GOLD ZONE 245M SOUTH AT SOUTH PINION, CARLIN TREND NEVADA
Gold Standard Ventures Corp. has released assay results of the final 11 reverse circulation holes from the western portion of the Pinion phase 2 drilling program at its 100-per-cent-owned Railroad-Pinion project on Nevada's Carlin trend. All 11 holes returned intercepts with gold values 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 51.8 metres of 0.50 gram per tonne gold in hole PIN14-52.
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.
Key observations:
- Two target areas were tested by these holes: Northwest Pinion and
Southwest Pinion. The targeted multilithic, dissolution collapse breccia
(referred to as mlbx) host was intersected in all 11 holes and the
plan extent of the mlbx was expanded to the northwest and southwest.
Similar to the 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 Northwest Pinion target, three holes successfully intersected
oxidized gold bearing mlbx along the west margin of the maiden resource
block model. PIN14-44, PIN14-52 and PIN14-56 intersected entirely
oxidized intervals of 29.0 metres of 0.64 gram per tonne gold, 51.8 metres of 0.50 gram per tonne gold and
54.9 metres of 0.38 gram per tonne gold, respectively. These holes demonstrate the Pinion
mineralization is open to the northwest.
Also at the Northwest Pinion target, seven holes successfully
intersected gold-bearing mlbx along the Main zone fault and the South
fault. Two holes intersected thicker zones of gold mineralization
including a shallow intercept of 13.7 metres of 0.41 gram per tonne gold in PIN14-54, and
9.1 metres of 0.67 gram per tonne gold in PIN14-57. These intercepts, along with those in
PIN14-52, -54 and -56, suggest the South fault is a feeder structure at
Northwest Pinion. The most northwest intercepts in PIN14-54 and -57 are
open to the northwest.
In addition to the 10 drill holes, GSV geologists collected 49 rock
chip samples from oxidized and altered mlbx surface outcroppings. At
Northwest Pinion, altered and mineralized outcrops of mlbx are exposed
along a west-northwest strike for over 760 metres, in the footwall of the
South Fault zone. Individual samples consisted of 1.2- to 4.6-metre continuous
rock chip channels on larger outcrops or, panel samples from smaller
outcrops. Gold assays for the samples ranged from 0.01 to 1.24 grams per tonne gold.
Seven composite channel sample intervals returned gold values above the
0.14-gram-per-tonne-gold cut-off grade established by APEX in its National Instrument 43-101 resource estimate announced on
Sept. 10, 2014 (see news release). Individual intervals include:
9.1 metres of 0.94 gram per tonne gold, 12.2 metres of 0.61 gram per tonne gold, 12.2 metres of 0.33 gram per tonne gold, 15.2 metres of 0.31 gram per tonne gold, 10.7 metres of 0.23 gram per tonne gold, 22.6 metres of 0.19 gram per tonne gold and 3.1 metres of
0.59 gram per tonne gold. Drilling and surface rock sampling results confirm that
gold mineralization remains open to the northwest. Phase 3 drilling in
2015 will follow up on these results.
- At the Southwest Pinion target, a gold-bearing intercept of 48.8 metres of
0.42 gram per tonne gold in PIN14-43 successfully expanded the lateral extent of the
breccia hosted mineralization 245 metres to the southwest. PIN14-43 is on the
southwest edge of the drill pattern and although 400 metres in true vertical
depth, this mineralization is oxidized and remains open.
DRILL RESULTS
Thickness Grade
Drill hole Method TD (m) Intercept (m) (m) (g/t Au)
PIN14-43 RC 631.1 551.8-600.6 48.8 0.42
PIN14-44 RC 166.2 108.2-137.2 29.0 0.64
Including 108.2-111.3 3.1 2.40
PIN14-48 RC 272.9 30.5-32.0 1.5 0.24
79.3-80.8 1.5 0.17
PIN14-49 RC 100.6 51.8-57.9 6.1 0.19
PIN14-51 RC 105.2 32.0-35.1 3.1 0.25
45.7-47.2 1.5 0.15
53.4-54.9 1.5 0.16
80.8-82.3 1.5 0.57
88.4-91.5 3.1 0.22
PIN14-52 RC 237.8 186.0-237.8 51.8 0.50
Including 198.2-202.8 4.6 1.07
PIN14-53 RC 178.4 29.0-32.1 3.1 0.63
44.2-54.9 10.7 0.20
74.7-76.2 1.5 0.20
PIN14-54 RC 198.2 57.9-71.6 13.7 0.41
74.7-88.4 13.7 0.26
94.5-102.1 7.6 0.15
PIN14-55 RC 207.3 0-1.5 1.5 0.16
PIN14-56 RC 408.5 278.9-333.8 54.9 0.38
PIN14-57 RC 222.6 138.7-147.8 9.1 0.67
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 50 to 95 per cent of drilled thicknesses.
Mac Jackson, Gold Standard's vice-president of exploration, stated: "Our phase 2 drill program has successfully expanded the oxide gold zone at Pinion, and very importantly, it remains open in multiple directions. The drill intercepts and rock chip sample results specific to this release show that collapse breccia hosted gold continues northwest from the known resource along the South fault zone. Several untested structural intersections within the South fault zone to the northwest of Pinion have the potential to host new gold deposits. These opportunities for expansion, growth and the discovery of new deposits are typical of the large gold systems located on the Carlin trend, and we look forward to pursuing them during our 2015 exploration program."
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 (AAS) 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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