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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 207,774,874
Close 2016-09-14 C$ 3.19
Market Cap C$ 662,801,848
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Gold Standard drills 56.2 m of 1.83 g/t Au at Railroad

2016-09-14 06:47 ET - News Release

Mr. Jonathan Awde reports

EXPANSION OF GOLD STANDARD'S NORTH DARK STAR HIGH GRADE OXIDE DEPOSIT CONTINUES WITH INTERCEPT OF 56.2M OF 1.83G AU/T

Gold Standard Ventures Corp. has released assay results from two holes, DS16-21 and DS16-04, at the recently discovered North Dark Star oxide gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. Results from DS16-21 have increased the width of the deposit and, more importantly, have confirmed that higher-grade oxide mineralization projects updip to more shallow depths to the east of DS16-08.

The primary objective of this year's drill program at North Dark Star was to expand the high-grade zone discovered in core hole DS15-13 (15.4 metres of 1.85 grams per tonne gold and 97.0 m of 1.61 g/t Au) at the end of last year's drill program (see Jan. 21, 2016, news release). DS16-08, located 100 m south of DS15-13, began to achieve this objective when it returned a 126.2 m section grading 3.95 g/t Au, including higher-grade intervals of 44.0 m of 4.70 g/t Au, 17.9 m of 5.6 g/t Au and 7.9 m of 10.7 g/t Au (see Aug. 9, 2016, news release). Then, DS16-03B, located 120 m south of DS16-08, intersected a 101.2 m section grading 1.50 g/t Au including a higher-grade interval of 32.3 m of 2.87 g/t Au (see Aug. 18, 2016, news release).

The most recent core hole, DS16-21, returned a fully oxidized 56.2 m section grading 1.83 g/t Au, including higher-grade intervals of 5.8 m of 2.74 g/t Au and 9.8 m of 3.78 g/t Au (please visit the company's website to view plan and section maps). All of the gold values within the 56.2 m intercept are 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).

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "The updip extension found in hole 21 is exactly what we need to build tonnage potential at North Dark Star. Proximity to surface for this high-grade material should also have a very favourable impact on mine plans. Drilling continues with three rigs in the Dark Star corridor, one rig at the new Sentinal target north of Pinion, while a fifth rig is following up the exciting results we recently reported from our North Bullion high-grade deposit."

Key North Dark Star highlights:

  • The intercept of 56.2 m of 1.83 g/t Au in DS16-21 starts approximately 25 m below the topographic surface. This intercept represents the shallow, updip continuation of the intercept of 126.2 m of 3.95 g/t Au intersected in DS16-08 (see Aug. 9, 2016, news release). DS16-21 was collared approximately 85 m east of DS16-08 and drilled parallel to it at minus-45 degrees dipping to the east.
  • Mineralization in DS16-21 occurs in decalcified, variably silicified, pervasively oxidized and collapse brecciated debris flow conglomerate. Limonite, hematite, barite and quartz veins are associated with the mineralization (visit the company's website for pictures of core). This is the same part of the conglomerate section that hosts gold in core holes DS16-08, DS16-03B and DS15-13.
  • Importantly, North Dark Star mineralization is now continuous over approximately 270 m in a north-south direction and approximately 100 m east-west. The deposit remains open in multiple directions.
  • DS16-04, a reverse circulation scout hole, was drilled to test for a continuation of the North Dark Star gold system 515 m north of DS16-08, making it the most northerly hole completed thus far in the Dark Star corridor. This hole intersected North Dark Star alteration in favourable stratigraphy, but did not report any significant gold values. These results are similar to early-stage 2015 reverse circulation drilling north of the Dark Star maiden resource, prior to making the discovery at North Dark Star. DS16-04 is a first step in the vectoring process outboard from North Dark Star.

North Dark Star drill results are as shown in the table.

              NORTH DARK STAR DRILL RESULTS

Hole               Intercept    Thickness      Au grade 
                          (m)          (m)         (g/t)

DS16-04          No intercepts greater than 0.14 g/t Au
DS16-21            16.6-20.4          3.8          0.23
                   38.6-94.8         56.2          1.83
Including          62.2-68.0          5.8          2.74
Including          73.7-83.5          9.8          3.78
                 128.3-135.5          7.2          0.41
                 154.6-156.1          1.5          0.19
                 208.2-209.1          0.9          0.14
                 226.1-229.9          3.8          0.15

(i) Gold intervals reported in this table 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 90 per 
cent of drilled thicknesses.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "The oxide intercept in DS16-21 is very important in adding vertical extent to the North Dark Star gold zone, bringing it updip, close to the surface. Good continuity along strike is indicated by the similar geometry we see between holes DS15-10, DS15-13 and DS16-02 on the cross-section 100 m to the north of DS16-21. The substantial thickness, continuity and shallow depth of the North Dark Star gold zone are very positive attributes of this expanding deposit."

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 project to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every 10th sample. The North 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., or Vancouver, B.C. Pulps are digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30-gram split. Overlimit gold assays were determined using a fire assay fusion with a gravimetric finish on a 30-gram split. All other elements were 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.

Drill hole deviation is measured by a gyroscopic downhole survey that has been completed on all holes by International Directional Services of Elko, Nev. Final collar locations are surveyed by differential GPS by Apex Surveying LLC of Spring Creek, Nev.

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 NI 43-101.

Gold Standard is focused on district-scale discoveries on its Railroad-Pinion gold project, located within the prolific Carlin trend. The 2014 Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidates the company's premier land package on the Carlin trend. The Pinion deposit now has an NI 43-101-compliant resource estimate consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 gram per tonne gold, totalling 630,300 ounces of gold, and an inferred resource of 61.08 million tonnes grading 0.55 g/t Au, totalling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au. The Dark Star deposit, 2.1 kilometres to the east of Pinion, has an NI 43-101-compliant resource estimate consisting of an inferred resource of 23.11 million tonnes grading 0.51 g/t Au, totalling 375,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 3, 2015).

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