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or Name
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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 208,618,738
Close 2016-10-12 C$ 3.16
Market Cap C$ 659,235,212
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Gold Standard drills 97.3 m of 3.16 g/t Au at Railroad

2016-10-13 06:55 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD INTERSECTS 97.3M OF 3.16G AU/T AT THE NORTH DARK STAR GOLD DEPOSIT, RAILROAD DISTRICT, CARLIN TREND NEVADA

Gold Standard Ventures Corp. has released assay results from three core holes, DS16-23, DS16-24 and DS16-27, at the recently discovered North Dark Star gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. In the most recent core holes, DS16-24 returned 97.3 metres of 3.16 grams per tonne gold, including two higher-grade intervals of 10.1 m of 4.02 g/t Au and 49.1 m of 4.62 g/t Au; and DS16-27 returned 39.0 m of 0.72 g/t Au. These new results continue to increase the size, width, continuity and downdip extent of the deposit.

The primary objective of this year's drill program at North Dark Star was to expand the high-grade gold zone discovered in core hole DS15-13 (15.4 m of 1.85 g/t Au and 97.0 m of 1.61 g/t Au) at the end of the 2015 drill program (see Jan. 21, 2016, news release). DS16-08, located 100 m south of DS15-13, subsequently 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). 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). Then, DS16-21 returned a 56.2 m interval grading 1.83 g/t Au, including a higher-grade interval of 9.8 m of 3.78 g/t Au (see Sept. 14, 2016, news release), updip to the east of DS16-08 (please visit the company's website to view plan and section maps). All of these intercepts report continuous 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).

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Drilling at North Dark Star continues to find unusually high grades in oxide material. I think we can now safely say that this deposit represents an important new discovery in the Carlin trend and we have yet to establish its limits. Our technical team has noted that key geological characteristics of the North Dark Star occurrence are present in untested areas within the Dark Star corridor. Drilling continues."

Key North Dark Star highlights

  • DS16-24 intersected 97.3 m of 3.16 g/t Au approximately 65 m downdip to the west from 126.2 m of 3.95 g/t Au intersected in DS16-08 (see Aug. 9, 2016, news release) (please visit the company's website to view a cross-section of DS16-24 and DS16-08). The dip of the mineralization appears to be flattening to the west, rather than steepening, a positive development. Mineralization occurs within the host package of decalcified, variably silicified and collapse brecciated debris flow conglomerate, the same part of the conglomerate section that hosts gold in core holes DS16-08, DS16-03B, DS16-21 and DS15-13.
  • The intercept in DS16-24 is split into two contiguous zones: an upper, pervasively oxidized zone, with limonite and hematite; and a lower reduced zone with sooty pyrite, carbon, weak limonite and hematite on fractures (visit the company's website for DS16-24 core photos). The transition from oxide to reduced zones with increasing depth in Carlin-style gold systems is a well-documented and expected pattern. The two higher-grade intervals of 10.1 m of 4.02 g/t Au and 49.1 m of 4.62 g/t Au are indicative of a robust gold system.
  • Approximately 120 m south of DS16-24 and -08, the oxide intercept of 39.0 m of 0.72 g/t Au in DS16-27 represents the downdip continuation of 101.2 m of 1.50 g/t Au mineralization intersected in DS16-03B (see Aug. 18, 2016, news release). Separation between the DS16-27 and DS16-03B mineralized intercepts is approximately 60 m and mineralization appears again to be flattening to the west (visit the company's website to view a cross-section of DS16-27 and DS16-03B). Mineralization in DS16-27 occurs in decalcified, weak to moderately silicified, oxidized and collapse brecciated debris flow conglomerate, bioclastic limestone, calcarenite and silty limestone.
  • The north-striking Ridgeline fault has emerged as an important control on mineralization with the gold system focused in the eastern hangingwall side of the fault. A new and evolving interpretation suggests that the North Dark Star gold zone occurs in a syncline within the hangingwall of the Ridgeline fault. Faults and folds are well-documented controls on mineralization within Carlin-style gold systems of northern Nevada.
  • DS16-23, a core hole located approximately 80 m east and updip of DS16-03B, returned anomalous gold values from altered and oxidized debris flow conglomerate. Initial interpretations suggest DS16-23 may be east of mineral-controlling structures.

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

            NORTH DARK STAR DRILL RESULTS

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

DS16-23      No intercepts greater than 0.14 g/t Au
DS16-24                   104.5-
                          114.0       9.5      0.16
                          119.8-
                          136.9      17.1      0.41
                          143.3-
                          144.5       1.2      0.30
                          152.4-
                          161.5       9.1      0.28
                          171.6-
                          175.7       4.1      0.33
                          180.8-
                          278.1      97.3      3.16
Including                 203.9-
                          214.0      10.1      4.02
Including                 225.9-
                          275.0      49.1      4.62
Also including            262.5-
                          275.0      12.5      6.09
DS16-27                    67.4-
                           69.7       2.3      0.21
Including                  77.7-
                           80.1       2.4      0.16
                           93.0-
                           94.2       1.2      0.19
                           98.5-
                          101.2       2.7      0.15
                          108.8-
                          110.1       1.3      0.20
                          114.6-
                          153.6      39.0      0.72
                          136.9-
                          144.2       7.3      1.49

(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: "This stellar, high-grade intercept in DS16-24 is very important in adding width and flattening the dip of the North Dark Star gold zone. Intercepts with that thickness and grade add ounces quickly. We are continuing to test altered Pennsylvanian-Permian carbonate host section along the northerly striking Ridgeline fault and are looking forward to future results."

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 a 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 National Instrument 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 a National Instrument 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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