01:09:17 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Gold Standard Ventures Corp
Symbol GSV
Shares Issued 167,769,539
Close 2015-07-28 C$ 0.50
Market Cap C$ 83,884,770
Recent Sedar Documents

Gold Standard drills 21.3 m of 1.9 g/t Au at Pinion

2015-07-28 06:26 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD PHASE 1 2015 DRILLING EXTENDS OXIDE GOLD ZONES AT THE PINION AND DARK STAR DEPOSITS, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has released assay results of 14 reverse circulation holes from the 2015 phase 1 drilling program at its 100-per-cent-owned Railroad-Pinion project in Nevada's Carlin trend. Eight of nine Pinion holes and all five Dark Star holes returned significant intercepts with gold values above the cut-off grade of 0.14 gram per tonne gold established by APEX Geoscience Ltd. of Edmonton, Canada, in its Pinion National Instrument 43-101 resource estimate announced on Sept. 10, 2014 (see news release), and its Dark Star resource estimate announced on March 3, 2015 (see news release). Results include six intercepts grading above one gram per tonne as well as a thicker zone of 82.3 m of 0.56 g/t Au.

Phase 1 drilling at Pinion and Dark Star was designed to extend areas of known shallow oxide gold mineralization along strike and at depth, and to test new targets identified by the 2014 program. Phase 1 totalled 4,907 m of reverse circulation drilling in 14 holes.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Phase 1 has more than met its objectives. We have identified shallow oxide gold mineralization outside the Pinion and Dark Star resource areas which should enable us to add ounces. We have found a potential higher-grade feeder zone at South Pinion which supports the potential for adding significant resources in this area. And finally, we have established from drilling and surface work that there is an 800 m corridor of untested ground north of Dark Star which could easily double the size of this deposit. Phase 2 drilling will continue to evaluate these high-quality, near-surface targets, beginning this August."

Key highlights of the phase 1 program include:

Pinion:

  • PIN15-02 successfully intersected 24.4 m of 1.38 g/t Au in oxidized and altered multilithic, dissolution collapse breccia (mlbx) approximately 150 m northwest of the maiden resource. The intercept continues to expand and define the west-northwest-striking South fault zone, a structural corridor of higher-grade gold mineralization that is parallel to the Main zone. Mineralization in PIN15-02 is open in multiple directions and phase 2 drilling will follow up on these results.
  • At Southeast Pinion, PIN15-03 drilled through multiple zones of gold mineralization hosted in silicified and sooty sulphide-bearing breccia developed between thick quartz porphyry sills. The gold intercepts are approximately 100 m south of PIN14-38, an RC hole with 48.8 m of 1.16 g/t Au (see Jan. 14, 2015, news release). PIN15-03 results demonstrate that the gold system remains open beyond the known limits of the maiden resource and igneous sills are increasing in number and thickness at Southeast Pinion. These geologic patterns suggest close proximity to feeder structures.

Dark Star:

  • DS15-03 intersected two zones of gold mineralization: an upper oxidized zone that returned 32.0 m of 0.58 g/t Au starting near the surface and a higher-grade sulphide-hosted zone of 21.3 m of 1.90 g/t Au, including 12.2 m of 3.13 g/t Au. These intercepts are open in multiple directions and extend mineralization 100 m to the north of historic drill holes. Phase 2 drilling will look to expand on these results.
  • DS15-05 intersected multiple gold zones 800 m north of the Dark Star maiden resource, including 15.2 m of 0.62 g/t Au in oxidized rock. Results in holes DS15-03 and DS15-05 indicate the gold system extends northward along the Dark Star structural corridor into favourable geologic terrane that has not been systematically drill tested. Phase 2 drilling will follow up on these results.

            PINION DRILL RESULTS

Drill hole     Intercept Thickness    Grade
                      (m)       (m) (g/t Au)

PIN15-01       47.3-48.8       1.5     0.37
               64.0-67.1       3.1     0.28
             268.3-285.1      16.8     0.27
             312.5-320.1       7.6     1.14
             329.3-330.8       1.5     0.24
PIN15-02     181.4-205.8      24.4     1.38
Including    196.6-204.2       7.6     1.86
             214.9-218.0       3.1     0.18
             233.2-240.8       7.6     0.31
             248.4-251.5       3.1     0.15
             263.7-282.0      18.3     0.84
PIN15-03       47.2-48.7       1.5     0.17
               53.3-54.8       1.5     0.23
               61.0-65.6       4.6     0.41
             170.7-216.4      45.7     0.43
             237.8-320.1      82.3     0.56
             339.9-365.8      25.9     0.52
             378.0-381.1       3.1     0.33
             405.4-408.5       3.1     0.23
PIN15-04       12.2-21.3       9.1     0.22
               39.6-45.7       6.1     0.59            
               48.8-53.4       4.6     0.28            
               65.5-70.1       4.6     0.31
               85.3-89.9       4.6     0.27            
             108.2-111.3       3.1     0.22            
             114.3-126.5      12.2     0.22            
             166.2-173.8       7.6     0.17
PIN15-05     234.8-236.3       1.5     0.20
             254.6-256.1       1.5     0.16
PIN15-06     157.0-160.1       3.1     0.20
             176.8-181.4       4.6     0.28            
             285.0-288.1       3.1     0.67
PIN15-07         No intercepts >0.14 g/t Au
PIN15-08     186.0-196.7      10.7     0.33
             199.7-205.8       6.1     0.17
PIN15-09        6.1-10.7       4.6     0.34
             279.0-292.7      13.7     0.26            
             326.2-329.3       3.1     0.15            
             378.0-384.1       6.1     0.16            
             390.2-405.4      15.2     0.21            
             458.8-469.5      10.7     0.33            
             504.6-506.1       1.5     1.02

         DARK STAR DRILL RESULTS

Drill hole      Intercept Thickness    Grade
                       (m)       (m) (g/t Au)

DS15-01         24.4-41.2      16.8     0.17
                82.3-86.9       4.6     0.15             
              100.6-108.2       7.6     0.37
              163.1-167.7       4.6     0.20
DS15-02           4.5-7.6       3.1     0.49
              143.2-146.3       3.1     0.15
DS15-03           1.5-7.6       6.1     0.23
                13.7-45.7      32.0     0.58             
Including       33.5-42.6       9.1     1.09             
              166.1-176.8      10.7     0.18             
              201.2-222.5      21.3     1.90             
Including     201.2-213.4      12.2     3.13             
              228.6-233.2       4.6     0.15             
              234.7-236.2       1.5     0.15             
              243.9-275.9      32.0     0.40
DS15-04           3.0-7.6       4.6     0.15
                10.7-22.9      12.2     0.28
DS15-05         32.0-36.6       4.6     0.19
                39.6-41.1       1.5     0.19             
                51.8-60.9       9.1     0.17             
              256.1-271.3      15.2     0.62             
Including     256.1-260.7       4.6     1.30

Gold intervals reported in these tables were 
calculated using a 0.14 g/t Au 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: "Phase 1 gravity, soil sampling, mapping and drilling at Dark Star and Pinion have extended known gold zones and identified new targets peripheral to the known resources. The west-northwest-striking South fault corridor is emerging as an important control on mineralization at Pinion. PIN15-02 extended gold along it to the northwest, and the thick zones of sooty sulphide and intrusive rock in PIN15-03 indicate proximity to a feeder within the corridor. DS15-03 showed that Dark Star is open along strike to the north. We will continue to explore the South fault corridor at Pinion and the Dark Star structural corridor, as well as other new targets in our next round of drilling."

Sampling methodology, chain of custody, quality assurance/quality control

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 Pinion samples were delivered to ALS Minerals preparation facility in Elko, Nev. The samples are crushed, 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. The Dark Star samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev. The samples are crushed, pulverized and sample pulps are shipped to Bureau Veritas certified laboratory in Sparks, Nev. 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.