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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 221,851,735
Close 2017-01-20 C$ 2.97
Market Cap C$ 658,899,653
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Gold Standard drills 5.3 m of 7.02 g/t Au at Railroad

2017-01-23 09:00 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD FINDS NORTHERN EXTENSION OF NORTH BULLION HIGH GRADE DEPOSIT

Gold Standard Ventures Corp.'s 2016 drilling has extended the North Bullion gold system 180 metres to the north of previous drill holes on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend.

Four more core holes were completed in the 2016 program at North Bullion. Drill hole RR16-05 returned 19.8 metres of 4.40 grams gold per tonne (g/t Au) which includes a higher-grade interval of 5.3 m of 7.02 g/t Au. This result follows RR16-01 (announced on Aug. 30, 2016) which intersected 65.6 m of 3.17 grams gold per tonne (g/t Au) including a higher-grade interval of 8.5 m of 11.16 g/t Au located west-northwest of previous drilling.

The primary objective of the 2016 North Bullion drill program was to test for extensions of the lower breccia zone to the west-northwest and north. With RR16-01 and RR16-05, both orientations have proven to be successful. West-northwest and north-striking structural zones are an important control for gold mineralization throughout the Carlin trend. The Saddle (780,000 ounces at 19.6 g/t Au) and Tess (1.5 million ounces at 12.7 g/t Au) deposits occur along the west-northwest-striking Rain fault, located just six kilometres to the north of the North Bullion deposit (Longo, et al., NBMG Bulletin 111, 2002). North Bullion exhibits all the classic characteristics of large, high-grade collapse breccia-hosted gold deposits on the Carlin trend. Unlike the company's Dark Star and Pinion deposits, which are highly oxidized, gold-bearing rock at North Bullion is refractory in nature but the additional cost of processing this material is commonly offset elsewhere on the Carlin trend by increased grade.

A more cost-effective approach to drilling North Bullion was developed using reverse-circulation (RC) rigs to drill and case holes (so-called precollars) to depths immediately above the target before switching to a core rig to complete the hole through the mineralized zone. This approach proved effective in the 2016 drill program as the company successfully prepared 10 precollars at its Railroad-Pinion project of which six have been completed with core to date.

Mac Jackson, Gold Standard's vice-president of exploration, stated: "We had tremendous results at North Bullion this year, intersecting high-grade gold in both our west-northwest- and north-trending targets while substantially lowering our drill costs. With this isolated, high-grade intercept in RR16-05, it looks like we have found a new extension of the gold system, well north of previous drill holes. Once again, we have demonstrated the potential for a North Carlin-style big system in the Railroad-Pinion district. We are looking forward to following up on these results with a larger exploration program at North Bullion in 2017."

Key highlights

RR16-05 intersected 5.3 m of 7.02 g/t Au within a thicker zone of 19.8 m of 4.40 g/t Au. This intercept is approximately 180 metres north of the existing drill pattern. Mineralization is hosted in multilithic collapse breccia (mlbx) developed at the top of the Devils Gate formation. The mlbx host is sandwiched between a series of bedding-parallel dacite sills in the footwall of northeast-striking faults. RR16-05 is the northernmost hole completed to date at North Bullion and this mineralization represents an important, high-grade, open extension to the North Bullion discovery.

RR16-04 intersected thin intervals of gold mineralization hosted in tectonic breccia approximately 145 metres west-northwest of the intercept in RR16-01 of 65.6 m of 3.17 g/t Au (see Aug. 30, 2016, news release). At this location, the favourable multilithic collapse breccia was not present due to the structural omission of the host stratigraphic section across a northeast-striking fault zone. RR16-06 also appears to have intersected a fault gap in the stratigraphic section, in the hangingwall of northeast-striking faults.

RR16-07 has been precollared to a depth of 353.7 m. The core tail will be completed in 2017 to test for further higher-grade extensions to gold mineralization along the favourable west-northwest-striking structural corridor.

                            NORTH BULLION DRILL RESULTS 

Drill            TD           Intercept          Thickness               Grade
hole            (m)                 (m)                (m)            (g/t Au)

RR16-03       376.5                     No intercepts greater than 0.30 g/t Au
RR16-04       521.0      376.2 -- 377.6                1.4                1.01
                         497.9 -- 500.6                2.7                0.33
                         507.3 -- 511.6                4.3                0.78
RR16-05       590.2      404.9 -- 408.0                3.1                0.38
                         447.1 -- 466.9               19.8                4.40
including                461.6 -- 466.9                5.3                7.02
RR16-06       600.2      482.6 -- 488.2                5.6                0.69
RR16-07            RC precollar completed -- core tail to be completed in 2017

Note
(1) Gold intervals reported in the table are based on a 0.30 g/t Au cut-off. 
Weighted averaging has been used to calculate all reported intervals. True 
widths are estimated at 80 to 100 per cent of drilled thicknesses. In 
general, the gold distribution within these large, complex breccias will 
require additional drilling to confirm true widths.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Last year, our drill program successfully expanded all four gold deposits on our Railroad-Pinion project -- Pinion, Dark Star, North Dark Star and North Bullion. Of these, North Bullion is the most technically challenging but this style of deposit in the Carlin trend is potentially very rewarding because of its size and grade potential. The vibrant, high-grade gold mineralization in RR16-05 could potentially be the beginnings of a new high-grade zone well north of the original North Bullion discovery. We continue to believe that we are in the early stages of exploring one of the prolific high-grade, collapse breccia-hosted deposits on the Carlin trend and it will continue to be an important part of our exploration focus in 2017."

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 project to the sample preparation facility was continuously monitored. Core was cut at the company's facility in Elko and one-half was sent to the lab for analysis and the remaining material retained in the original core box. A blank or certified reference material was inserted approximately every 10th sample. The North Bullion core samples were delivered to the ALS Minerals preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to the ALS Minerals certified laboratory in Sparks, Nev., or Vancouver, B.C. Pulps were 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 inductively coupled plasma analysis. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.

Drill hole deviation was measured by gyroscopic downhole surveys that were 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, and CPG-10216, a qualified person as defined by National Instrument 43-101, standards of disclosure for mineral projects.

About Gold Standard Ventures

Gold Standard is focused its Railroad-Pinion gold project, located within the prolific 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 (announced March 15, 2016). The Dark Star deposit 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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