Mr. Jonathan Awde reports
GOLD STANDARD TO BEGIN DRILLING NEXT MONTH ON THE PINION AND DARK STAR OXIDE GOLD DEPOSITS, RAILROAD-PINION PROJECT, CARLIN TREND NEVADA
Gold Standard Ventures Corp. has released plans for its 2015 phase 1 exploration program at the company's 100-per-cent-owned/-controlled Railroad-Pinion project in Nevada's Carlin trend. The $1.2-million program includes up to 6,000 metres of RC drilling at the Pinion and Dark Star oxide gold deposits, and is designed to expand known resources and test new high-value targets. Financing for this program was obtained in the financing which closed on Feb. 3, 2015.
Foundation for the 2015 program -- 2014 land consolidation and maiden resources:
- Since March of 2014, Gold Standard has successfully completed the land
consolidation and the first National Instrument 43-101-compliant resource estimate at the
Pinion deposit. The resource estimate included 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. Following the initial resource
estimate, Gold Standard completed an additional 44 RC holes at Pinion.
- In December, 2014, the company completed a cost-effective land
consolidation at the Dark Star oxide gold deposit which is located 2.1
kilometres east of the Pinion deposit. In March of 2015 the first Dark Star National Instrument 43-101-compliant resource estimate was completed by APEX Geoscience. The
resource estimate included an inferred mineral resource of 23.11 million
tonnes grading 0.51 gram per tonne gold, totalling 375,000
ounces of gold using a cut-off grade of 0.14 gram per tonne gold.
- The land consolidations also allowed Gold Standard to complete a 10-square-kilometre soil grid over and west of the Pinion deposit, acquire
CSAMT over the Bullion fault corridor and Dark Star, and complete
geological mapping. This work identified a variety of near-surface and
deeper drill targets at Pinion and numerous drill targets at Dark Star,
all of which have the potential to expand the existing mineral
resources.
Key highlights of the 2015 phase 1 program
Pinion:
- Complete about 3,300 metres of reverse circulation drilling on new
targets identified by geological mapping, gravity and the 2014 soil grid. These targets are northwest of
the Pinion resource along the strike extensions of the Main zone and
South faults;
- At Southeast Pinion, drill one 600-metre RC hole within the footwall of the
Bullion fault corridor to test for a repeated multilithic collapse
breccia-hosted gold zone beneath the Pinion resource. This is a new
target that emerged from deeper drilling and cross-section
interpretation in 2014. The geologic setting and alteration in the
target area are analogous to that of the lower zone mineralization at
the North Bullion deposit 10 kilometres to the north;
- Design and initiate a metallurgical program to be completed in phase 2.
Dark Star:
- Drill six RC holes (about 2,100 metres) to extend areas of known shallow
oxide gold mineralization along strike and at depth, and to test new
targets identified by the new 3-D geological model and CSAMT grid. Gold mineralization is
related to a north-to-north-northeast-striking zone of alteration
focused along west-dipping contacts with and within a coarse
Pennsylvanian conglomerate and bioclastic limestone-bearing unit;
- Complete a 3.5-square-kilometre soil grid designed to enhance near-surface oxide gold targets within the north-striking Dark Star
structural and dike trend;
- Complete 10 square kilometres of 1:6,000 geological mapping, and a 450-station gravity survey;
- Design and initiate a metallurgical program to be completed in phase 2.
Mac Jackson, Gold Standard's vice-president of exploration, stated: "Our 2015 phase 1 exploration program is a multifaceted approach designed to 1) drill new untested targets, 2) continue to expand the Pinion and Dark Star deposits along strike, and 3) begin predevelopment engineering, metallurgy and environmental studies at Pinion/Dark Star. The identification of new targets is a product of our geologic work in 2014 and growing exploration experience at Railroad, which allows us to recognize high-potential geologic settings. In the big picture, we are stepping away from known deposits and drilling our first tests of new targets on the southern edge of the Railroad window, while also adding value through increasing the size of our known resources and initiating the predevelopment studies to move them towards production."
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 field to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every 40 samples. The samples are delivered to ALS Minerals preparation facility in Elko, Nev., where the samples are crushed, screened and pulverized. Sample pulps are shipped to ALS Minerals certified laboratory in Vancouver. Pulps are digested and analyzed for gold using fire assay fusion and an ICP-AES finish on a 30-gram split. All other elements are determined by a two-acid ICP analysis at ALS Minerals in Vancouver. 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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