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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 167,769,539
Close 2016-01-25 C$ 0.87
Market Cap C$ 145,959,499
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Gold Standard drills 51.8 m of 0.82 g/t Au at Pinion

2016-01-25 09:20 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD PHASE 2 2015 DRILLING EXTENDS MULTIPLE OXIDE GOLD ZONES AT THE PINION DEPOSIT, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has released assay results of 15 reverse circulation holes from the 2015 Pinion phase 2 drilling program at its 100-per-cent-owned-and-controlled Railroad-Pinion project in Nevada's Carlin trend. Fourteen of these holes returned significant intercepts with gold values above the cut-off grade of 0.14 gram per tonne gold, including five intercepts grading above one gram per tonne. Results are consistent with Pinion resource grades and thicknesses and should therefore contribute additional ounces to a new resource estimate (see Sept. 14, 2014, news release for details of the existing resource estimate and cut-off grade).

Phase 2 drilling at Pinion was designed to test five oxide resource expansion targets, including: an offset of 24.4 metres of 1.38 grams per tonne gold in PIN15-02 (see news release dated July 28, 2015); high-potential targets along the highly prospective South fault zone; and the new Sentinel contact target, which is approximately 100 metres west of the Pinion Far North zone. Phase 2 totalled 6,067 metres of reverse circulation drilling in 15 holes (visit the company's website for a Pinion phase 2 drill hole map).

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Once again, step-out drilling from known mineralization has successfully extended all of our primary targets while new targets also continue to emerge. The size, continuity and robustness of the Pinion mineralizing system have already exceeded our expectations, and there is clearly much more to go. We are anxious to begin our next phase of drilling as soon as ground conditions allow."

Key highlights of the phase 2 program include:

  • At Northwest Pinion along the South fault corridor, PIN15-10 and PIN15-13 successfully intersected 24.4 metres of 0.81 gram per tonne gold and 22.9 metres of 0.56 gram per tonne gold, respectively, successfully following up 24.4 metres of 1.38 grams per tonne gold in PIN15-02. All three drill intercepts are oxidized and define significant open potential on the northwest margin of the deposit.
  • Main zone gold was successfully extended 180 metres to the southeast by PIN15-15, which intersected 57.9 metres of 0.43 gram per tonne gold in oxidized and altered multilithic, dissolution collapse breccia, the principal Pinion host rock. This intercept also demonstrates the continuity of gold mineralization along an expanding north-south trend.
  • The South Gold zone was extended to the southwest by PIN15-21 and PIN15-23, two holes completed as 100-metre step-outs from the existing drill pattern. These holes intersected 52-metre-thick and 61-metre-thick mineralized, oxidized sections of multilithic breccia, respectively. In particular, PIN15-21's 51.8 metres of 0.82 gram per tonne gold also contained enriched silver grading 27 grams per tonne. Based on geologic logging, the breccia horizons were oxidized in both holes, providing further confidence in the oxidized state of the mineralized horizon in the central part of the South Gold zone.
  • At Southeast Pinion, two holes, PIN15-20 and PIN15-22, successfully expanded a north-south-trending zone of gold mineralization to the south. PIN15-22 extended the system 180 metres to the south, drilling an unoxidized upper intercept of 24.4 metres of 0.57 gram per tonne gold and a lower 22.9-metre oxidized intercept of 0.95 gram per tonne gold. Several favorable 30-metre-thick to 45-metere-thick feldspar porphyry sills are present adjacent to the gold-bearing sections in this part of Pinion.
  • Four holes (PIN15-16 through PIN15-19) were drilled at the Sentinel contact target. The holes intersected narrow but promising zones of near-surface, oxidized gold mineralization hosted in variably silicified, multilithic collapse breccia developed along the contact between the Devils Gate limestone and the underlying Sentinel Mountain dolomite. Oxide mineralization is open in multiple directions. Further work is required to evaluate the potential of this target.
  • At the impressive new Sentinel breccia target, a systematic surface sampling program consisting of 218 chip channel samples were collected from oxidized and silicified multilithic, dissolution collapse breccia outcrops. The altered outcrops are located 300 metres north of the Sentinel Contact target in the footwall of the Bullion fault zone. Individual samples varied from 0.6 metre to 3.1 metres in length; assays from these samples ranged from 0.027 gram per tonne to 1.045 grams per tonne gold. Continuous rock-chip channel samples returned the following weight-averaged, composite intervals at a 0.14-gram-per-tonne-gold cut-off: 27.4 metres of 0.35 gram per tonne gold; 12.2 metres of 0.46 gram per tonne gold; 27.4 metres of 0.32 gram per tonne gold; 13.4 metres of 0.3 gram per tonne gold; 10.4 metres of 0.27 gram per tonne gold; 9.1 metres of 0.26 gram per tonne gold; and 21.3 metres of 0.2 gram per tonne gold (visit the company's website for Sentinel breccia sampling map).

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

PIN15-10          RC    460.4       204.3 to 228.7        24.4        0.81
Including                           211.9 to 219.5         7.6        1.41
                                    233.2 to 254.5        21.3        0.16
                                    303.4 to 309.5         6.1        0.69
                                    317.1 to 320.2         3.1        0.29
                                    339.9 to 343.0         3.1        0.29
                                    347.6 to 350.7         3.1         0.2
                                    457.3 to 458.8         1.5        0.15
PIN15-11          RC    474.1       423.8 to 426.9         3.1        0.14
PIN15-12          RC    417.7       262.2 to 271.3         9.1        0.17
PIN15-13          RC    506.1       216.5 to 228.7        12.2        0.43
                                    233.3 to 236.3         3.1         0.3
                                    268.3 to 277.4         9.1        0.19
                                    285.1 to 292.7         7.6         0.7
                                    306.4 to 329.3        22.9        0.56
PIN15-14          RC    384.1       216.4 to 233.2        16.8        0.42
                                    243.9 to 245.4         1.5        0.19
                                    248.5 to 250.0         1.5        0.24
PIN15-15          RC    387.2          7.6 to 10.7         3.1        0.51
                                    120.4 to 123.5         3.1        0.16
                                    236.3 to 294.2        57.9        0.43
PIN15-16          RC    251.5         18.3 to 35.0        16.7        0.21
                                      42.7 to 44.2         1.5        0.17
                                    157.0 to 158.5         1.5        0.15
PIN15-17          RC    274.4         45.7 to 48.8         3.1        0.19
                                      68.6 to 70.1         1.5        0.87
                                      82.3 to 85.4         3.1        0.16
                                    218.0 to 227.1         9.1        0.25
PIN15-18          RC    208.8         27.4 to 30.5         3.1        0.16
                                      32.0 to 33.5         1.5        0.14
                                      67.1 to 68.6         1.5        0.21
PIN15-19          RC    239.3         29.0 to 41.2        12.2        0.22
                                      70.1 to 71.6         1.5        0.15
                                      77.7 to 83.8         6.1        0.14
PIN15-20          RC    478.7         53.3 to 64.0        10.7        0.38
                                      68.6 to 70.1         1.5         0.2
                                    172.3 to 213.4        41.1        0.36
                                    214.9 to 221.0         6.1         0.2
                                    233.2 to 236.3         3.1        0.21
                                    280.4 to 292.6        12.2        0.44
PIN15-21          RC    452.7       321.6 to 373.4        51.8        0.82
Including                           327.7 to 332.3         4.6        1.98
Including                           343.0 to 352.1         9.1        1.61
                                    379.6 to 381.1         1.5         0.2
PIN15-22          RC    525.9       271.3 to 274.4         3.1        0.21
                                    320.1 to 344.5        24.4        0.57
Including                           323.1 to 327.7         4.6        1.08
                                    358.2 to 359.7         1.5        0.17
                                    400.9 to 402.4         1.5        0.21
                                    419.2 to 442.1        22.9        0.95
Including                           422.2 to 426.8         4.6        2.61
                                    490.9 to 492.4         1.5        0.14
PIN15-23          RC    400.9       320.1 to 381.1          61         0.4
PIN15-24          RC    605.2       No intercepts above 0.14 g/t Au

Gold intervals reported in the table were calculated using a 
0.14-gram-per-tonne cut-off. Weighted averaging has been used to 
calculate all reported intervals. True widths are estimated at 
70 per cent to 95 per cent of drilled thicknesses.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "We continue to expand the Pinion oxide gold deposit, which remains open, areally extensive and very continuous. In our 2016 program at Pinion, we will explore for high-grade oxide northwest of the Pinion resource along the South fault zone and also drill the first holes into the impressive, multistage Sentinel breccia, a new target within the footwall of the regionally important Bullion fault."

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 Pinion samples were 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 standards and blanks that must pass certain parameters for acceptance to ensure 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, BSc (geology), CPG-10216, Gold Standard's manager of projects, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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