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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 207,774,874
Close 2016-07-11 C$ 2.41
Market Cap C$ 500,737,446
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Gold Standard met tests recover 80.3% Au at Pinion

2016-07-12 06:46 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD REPORTS POSITIVE METALLURGICAL CHARACTERIZATION TEST RESULTS FROM PINION GOLD DEPOSIT

A comprehensive bottle roll cyanide leach program on Gold Standard Ventures Corp.'s 100-per-cent-owned Pinion oxide gold deposit in the Carlin trend, Nevada, returned weighted average gold recoveries of 69.2 per cent for 10-mesh material and 80.3-per-cent recovery for 200-mesh material.

In 2015, Gold Standard completed the first-ever comprehensive work designed to determine the metallurgical characteristics of the Pinion oxide gold deposit. Cyanide soluble gold recoveries averaged 82.4 per cent in oxidized multilithic dissolution collapse breccia, the main gold host at Pinion, indicating that this material was likely to support heap-leach processing (see Aug. 19, 2015, news release). Results from this work were used to design the bottle roll characterization testing. The bottle roll study was completed by Kappes Cassiday & Associates (KCA) in Reno, Nev., and reviewed by consulting metallurgist Gary Simmons. Mr. Simmons has more than 35 years of experience with mining companies, including Newmont Mining Corp., where he was senior technical director of metallurgy and technology.

Jonathan Awde, chief executive officer and director of Gold Standard, commented, "We are very pleased by these test results which represent another important step forward in the process of demonstrating the economic potential of Pinion as an oxide heap-leach deposit."

Key highlights:

  • Average gold recoveries, weighted by calculated head grades of the composites, were 69.2 per cent for material crushed to 10-mesh size and 80.3 per cent for material crushed to the finer 200-mesh size. These averages are from bottle roll test results on 99 composite samples analyzed at both mesh sizes. The composites are from a wide distribution of gold intercepts in 42 reverse circulation drill holes and four core holes completed by Gold Standard across the Pinion deposit.
  • On average, higher-grade composites have slightly higher cyanide-soluble gold recoveries than lower-grade composites in bottle roll tests conducted at both mesh sizes. Some of the composite samples at depth, below 150 metres, contained low levels of sulphide sulphur and yielded slightly lower recoveries than the average.
  • The average downhole length of composited gold intercepts was 14.6 metres, made up of 10 individual drill samples. In most holes, at least two composites were made up from commonly continuous intercepts.
  • The bottle roll characterization results confirm the consistently oxidized nature of gold mineralization throughout the Pinion deposit. These results will guide location and selection of future composites for column leach testing, the next step in the metallurgical characterization process.
  • Excellent correlation exists between the visual logging of oxidized zones containing hematite and/or limonite in drill samples, the cyanide soluble gold assays and now the bottle roll results.
  • Average recoveries of gold in different areas of the Pinion deposit are illustrated on the supporting image which may be viewed on the company's website.

Gary Simmons, Gold Standard's consulting metallurgist, stated: "Metallurgical work at Pinion is off to a good start with cyanide soluble and bottle roll characterization studies indicating that a significant percentage of the gold within the oxidized collapse breccia host at Pinion is recoverable using cyanide leach processing. Column leach and comminution tests on composites from representative core holes are planned to begin in the second half of this year and will help determine the details of the processing of oxide material at Pinion."

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

All sampling was conducted under the supervision of the company's chief geologist and consulting metallurgist Sevket Acar. The chain of custody from Gold Standard's warehouse in Elko, Nev., to the sample preparation facility in Reno, Nev., was continuously monitored.

The metallurgical characterization study was completed by Kappes Cassiday & Associates in Reno, Nev., and has been reviewed by consulting metallurgist Mr. Simmons. The KCA bottle roll test program was designed to be scoping in nature and typically does an excellent job of broadly establishing the metallurgical character of a resource. Composites ranged in depth from close to surface down to 425 m and were mostly oxide with some composites containing low levels of sulphide sulphur and organic carbon, which caused only a mild reduction in bottle roll cyanide solubility.

Gold Standard's disclosure of metallurgical data in this press release has been reviewed and approved by Mr. Simmons, metallurgical consultant to Gold Standard and a qualified person under the definition of NI 43-101. Mr. Simmons is a qualified professional member of the Mining and Metallurgical Society of America with special expertise in metallurgy, QP member No. 101013.

Disclosure of additional scientific and technical content and interpretations contained in this news release has 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 NI 43-101.

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