Mr. Jonathan Awde reports
GOLD STANDARD INTERSECTS A FURTHER 157M OF 1.51 G AU/T NORTH OF THE DARK STAR GOLD DEPOSIT, CARLIN TREND, NEVADA
Gold Standard Ventures Corp. has released assay results from DS15-11 that confirm discovery of a substantial new, higher-grade oxide gold zone north of the Dark Star deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. DS15-11, a reverse-circulation (RC) hole drilled 515 metres north of the Dark Star maiden resource, returned an oxidized zone of 157.0 metres of 1.51 grams per tonne gold among multiple, significant intercepts containing gold values above the cut-off grade of 0.14 g/t Au established by APEX Geoscience Ltd. of Edmonton, Canada, in its Dark Star National Instrument 43-101 resource estimate announced on March 3, 2015 (see news release).
The new gold zone has an order of magnitude better grade and thickness than anything previously drilled at Dark Star. The zone was discovered in hole DS15-10 (see news release dated Nov. 4, 2015) and has now been successfully extended 60 m to the east and 10 m to the north by DS15-11.
Jonathan Awde, chief executive officer and director of Gold Standard, commented: "This second, wide, high-grade intercept is significant, as it gives dimension to the recently announced new discovery at Dark Star. We feel that we are in the midst of what could turn out to be another major discovery for us in one of the most prolific gold belts in the world. We are also very pleased with the progress in our ongoing Pinion and North Bullion drill programs where we expect to meet all of this year's objectives for these targets. The next six months will be very exciting for Gold Standard shareholders."
A conference call will be held by the company at 10:30 a.m. PT to discuss today's release and the continuing exploration program at Railroad-Pinion. Dial-in numbers are provided at the end of this press release.
Key highlights of DS15-11 include:
- DS15-11 intersected a vertically extensive, oxidized gold intercept of
157.0 m of 1.51 g/t Au, approximately 515 m north of the Dark Star maiden
resource. This intercept represents the thickest and highest-grade gold
zone intersected in drilling to date at Dark Star.
- The DS15-11 intercept is shallower and 61 m updip to the east from the
149.4 m of 1.38 g/t Au intersected in DS15-10 (see news release dated
Nov. 4, 2015). Gold intercepts in both holes are open in multiple
directions.
- Similar to DS15-10, DS15-11 intersected multiple zones of higher-grade,
oxide gold mineralization including 21.3 m of 3.17 g/t Au.
- Continuity of gold mineralization between DS15-11 and DS15-10 appears to
be excellent. Mineralization in both holes is hosted in an oxidized
limonite-and-hematite-bearing, variably silicified and quartz-veined,
bioclastic conglomerate unit. This is the same host unit as the Dark
Star deposit.
- Mineralization occurs within a horst (uplifted block) of permissive host
rocks, in the immediate footwall of a large-displacement normal fault.
This favourable geologic pattern is a well-documented control for
important gold mineralization on the Carlin trend.
- Phase 2 intercepts in DS15-06, -09, -10 and -11 confirm the upside
exploration and expansion potential within the Dark Star structural
corridor, north of the Dark Star maiden resource. The six-kilometre strike length
of the Dark Star corridor as defined by geologic mapping, geophysics and
soil geochemistry remains largely untested by drilling. The phase 2
drill program is being expanded to follow up on the outstanding oxide
gold drill results in holes DS15-11 and DS15-10.
Phase 2 Dark Star drilling was designed to extend areas of known gold mineralization along strike of the Dark Star structural corridor to the north of DS15-03, a phase 1 drill hole that intersected two zones of gold mineralization, including 32.0 m of 0.58 g/t Au and 21.3 m of 1.90 g/t Au (see news release dated July 28, 2015). Gold at Dark Star occurs in an unconventional and underappreciated host rock for the Carlin trend, a Pennsylvanian-Permian unit composed of bioclastic-bearing debris flow conglomerate with interbeds of calcareous sandstone, siltstone and mudstone. These rocks dip to the west within the north-trending Dark Star corridor, which is bounded to the east by a large displacement, normal fault.
To date, phase 2 includes 2,473 m of RC drilling in six holes at Dark Star. Gold Standard's drilling indicates the gold system extends northward from the Dark Star maiden resource, along the Dark Star structural corridor into favourable geologic terrain that has not been systematically drill tested. Results for DS15-11 are summarized in the table.
Mac Jackson, Gold Standard's vice-president of exploration, stated: "The intercepts in DS15-10 and DS15-11 represent the discovery of a new, blind oxide gold zone on the Carlin trend. The uniform thickness, grade and low internal variability of both intercepts indicate that there is good continuity and significant volume within this gold zone. DS15-11 brings the gold mineralization updip to within 60 m of the surface. It looks like classic Carlin geometry, with stratiform gold in the footwall of a normal fault. It is open in multiple directions, most importantly along the strike of the north-south horst, demonstrating very high exploration potential along the six km strike of the Dark Star structural corridor."
DS15-11 drill results are as shown in the table.
RAILROAD-PINION DRILL RESULTS
Drill hole Intercept Thickness Au
(m) (m) (g/t)
DS15-11 47.2-50.3 3.1 0.15
103.7-260.7 157.0 1.51
Including 105.2-126.5 21.3 3.17
Including 132.6-143.3 10.7 1.99
Including 160.0-170.7 10.7 1.98
Including 178.4-218.0 39.6 2.29
275.9-303.3 27.4 0.37
312.5-341.5 29.0 0.52
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.
Sampling methodology, chain of custody, quality assurance and 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 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.
Conference call
In connection with the news release, a conference call/webcast will be held on Nov. 10, 2015, starting at 10:30 a.m. PT to further discuss the drill results.
It is recommended that participants dial in five minutes prior to the commencement of the conference call. A live webcast with slides can be accessed on the Gold Standard website.
To participate in the conference call, use the following dial-in numbers and request the Gold Standard conference call:
Local/international: 416-640-5928
North American toll-free: 1-866-215-0058
The call will be hosted by Jonathan Awde, president and chief executive officer, and Mac Jackson, vice-president of exploration. Callers should refer to the newly posted slides on Gold Standard's website that will be referenced during the meeting.
For listeners who missed the live conference, a webcast archive will be accessible on Gold Standard's website the same day after the conclusion of the call.
We seek Safe Harbor.
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