Mr. Jonathan Awde reports
GOLD STANDARD DRILLING EXPANDS PINION OXIDE GOLD DEPOSIT AND CONFIRMS NEW DEPOSIT AT SENTINEL
Gold Standard Ventures Corp. has released assay results from 8,056 metres of reverse circulation (RC) and core drilling in 25 holes at the Pinion oxide gold deposit and at new prospects Sentinel and Irene on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend.
Of 12 drill holes located to test Pinion, 11 reported continuous gold values above the cut-off grade of 0.14 gram per tonne gold established in the National Instrument 43-101 resource estimate announced on March 15, 2016 (see news release). Highlights included 49.7 metres of 0.96 g/t Au from the Pinion North zone and 23.3 m of 0.79 g/t Au from the Pinion Main zone. This drill program also reported 22.9 m of 0.42 g/t Au at Sentinel, indicating the potential for this new target to make a significant contribution to the greater Pinion resource.
The primary objectives of the 2016 program were to: (1) test for gold mineralization identified by surface rock chip channel samples at the new Sentinel target; (2) complete metallurgical core holes for column leach tests for the Pinion North and Main zones; (3) extend areas of known oxide mineralization outward from the Pinion resource along the South fault corridor, an important control on gold mineralization at Southwest Pinion; and (4) complete additional scout drill holes at the Irene prospect two km northwest of the Pinion resource.
Jonathan Awde, chief executive officer and director of Gold Standard, commented: "We are very satisfied with last year's progress at Pinion. The deposit is continuing to confirm its potential to support a low-cost heap leach operation while the resource continues to grow. We are particularly excited by the new Sentinel deposit which appears to be compatible with Pinion and could be developed at the same time. Sentinel is yet another deposit type which opens up further exploration opportunities at Railroad and offers additional evidence of the size and strength of the project's mineralizing systems. This year, in addition to further drilling at Sentinel, we expect to release an updated resource estimate for Pinion early next quarter and complete advanced metallurgical testing as part of our derisking of the deposit."
Key Pinion highlights
-
At the new Sentinel target, 10 reverse circulation (RC) holes and one core hole were completed to follow up on continuous rock chip channel samples that returned seven significant weight-averaged, composite intervals including 27.4 m of 0.35 g/t Au and 12.2 m of 0.46 g/t Au (see news release dated Jan. 25, 2016). Nine of these 11 holes returned intercepts above the resource cut-off grade. Results were highlighted by 22.9 m of 0.42 g/t Au and 7.6 m of 0.42 g/t Au in drill hole PIN16-16 on the northwest margin of the drill pattern. Gold mineralization is near surface, oxidized, and open to the north and west. The deposit is hosted in the Sentinel Mountain dolomite and the top of the underlying Oxyoke sandstone, new stratigraphic host units on the Railroad-Pinion project with the potential for new resource opportunities. Mineralization occurs within the footwall of the district-scale, gold-controlling Bullion fault. Higher grades have been noted along this fault where crossing structures have focused the gold system. These cross-structures will be targeted in the 2017 drill program planned for Sentinel.
-
In the Pinion North zone, PQ-size core holes PIN16-01 and -04 returned 43.6 m of 0.50 g/t Au and 49.7 m of 0.96 g/t Au, respectively. Both intercepts are near surface and entirely oxidized. Material from these intercepts, along with core from two previously drilled holes at North zone, is undergoing column leach testing at Kappes, Cassiday & Associates in Reno, Nev.
- In the Pinion Main zone, PQ-size core holes PIN16-05A and -07 returned 23.3 m of 0.79 g/t Au and 27.7 m of 0.42 g/t Au, respectively. Both intercepts are near-surface and entirely oxidized. PIN16-05A offset hole PIN16-05, which suffered from poor recovery through the mineralized zone. Material from these intercepts, along with core from two previously drilled holes at Main zone, is undergoing column leach testing at Kappes, Cassiday & Associates in Reno, Nev.
-
At Southwest Pinion, six RC holes (PIN16-02, -03, -06, -08 and -10) intersected multiple zones of altered, oxidized to variably reduced, multilithic collapse breccia and gold mineralization approximately 120 to 150 m on projection from existing drill holes.
-
At Irene, two RC scout holes (PIN16-11 and -12) were completed two kilometres northwest of the Pinion resource. These holes followed up on 2015 scout hole PIN15-24. The new holes were spaced approximately 700 m apart and represented the first tests beneath an extensive soil anomaly containing gold and Carlin pathfinder elements. Two of the three holes intersected favourable host rocks but only weak alteration and low-level geochemistry.
PINION DRILL RESULTS
Drill TD Intercept Thickness Grade
hole (m) (m) (m) (g/t Au)
PIN16-01 171.6 115.2 -- 158.8 43.6 0.50
PIN16-02 397.9 291.2 -- 292.7 1.5 0.15
295.7 -- 324.7 29.0 0.43
PIN16-03 452.7 303.4 -- 309.5 6.1 0.24
320.1 -- 327.7 7.6 1.00
352.1 -- 355.2 3.1 0.30
373.5 -- 375.0 1.5 0.19
379.5 -- 382.6 3.1 0.30
PIN16-04 123.0 3.7 -- 53.4 49.7 0.96
Including 4.9 -- 20.3 15.4 1.39
45.4 -- 50.0 4.6 2.05
58.5 -- 64.9 6.4 0.50
PIN16-05 51.2 2.3 -- 2.8 0.5 0.14
4.7 -- 19.2 14.5 0.73
27.7 -- 28.6 0.9 0.48
PIN16-05A 29.7 6.4 -- 29.7 23.3 0.79
Including 15.8 -- 23.4 7.6 1.15
PIN16-06 449.7 309.4 -- 346.0 36.6 0.36
356.7 -- 362.8 6.1 0.23
375.0 -- 397.9 22.9 0.25
PIN16-07 101.5 61.0 -- 88.7 27.7 0.42
PIN16-08 452.7 285.0 -- 295.7 10.7 0.16
300.3 -- 324.7 24.4 0.38
346.0 -- 349.1 3.1 0.61
359.8 -- 367.4 7.6 0.18
PIN16-09 458.8 no assays greater than 0.14 g/t Au
PIN16-10 402.4 289.6 -- 307.9 18.3 0.37
315.5 -- 326.2 10.7 0.24
PIN16-11 714.9 no assays greater than 0.14 g/t Au
PIN16-12 638.7 0 -- 6.1 6.1 0.16
PIN16-13 461.9 3.0 -- 21.3 18.3 0.21
48.8 -- 50.3 1.5 0.16
PIN16-14 428.4 1.5 -- 6.1 4.6 0.15
16.8 -- 35.1 18.3 0.20
42.7 -- 57.9 15.2 0.22
91.5 -- 93.0 1.5 0.15
187.5 -- 192.1 4.6 0.16
239.3 -- 240.8 1.5 0.16
PIN16-15 36.6 0 -- 4.6 4.6 0.19
19.8 -- 21.3 1.5 0.14
30.5 -- 32.0 1.5 0.17
35.0 -- 39.6 4.6 0.15
PIN15-15A 19.8 4.5 -- 7.6 3.1 0.17
16.7 -- 19.8 3.1 0.15
PIN16-16 422.3 1.5 -- 10.7 7.6 0.42
22.9 -- 24.4 1.5 0.18
32.0 -- 53.3 21.3 0.20
57.9 -- 80.8 22.9 0.42
100.6 -- 102.1 1.5 0.16
137.2 -- 141.8 4.6 0.15
205.8 -- 210.4 4.6 0.23
214.9 -- 216.4 1.5 0.15
271.3 -- 272.8 1.5 0.18
PIN16-17 274.4 19.8 -- 28.9 9.1 0.27
47.3 -- 65.6 18.3 0.23
86.9 -- 88.4 1.5 0.28
PIN16-18 493.9 12.2 -- 13.7 1.5 0.18
19.8 -- 39.6 19.8 0.33
48.8 -- 61.0 12.2 0.20
65.5 -- 73.1 7.6 0.17
79.2 -- 89.9 10.7 0.18
118.9 -- 122.0 3.1 0.29
227.1 -- 230.2 3.1 0.14
285.1 -- 286.6 1.5 0.75
442.1 -- 446.7 4.6 0.33
PIN16-19 522.9 no assays greater than 0.14 g/t Au
PIN16-20 228.7 7.6 -- 13.7 6.1 0.35
15.2 -- 16.7 1.5 0.15
27.4 -- 36.5 9.1 0.17
143.3 -- 144.8 1.5 0.19
175.3 -- 178.4 3.1 0.24
PIN16-21 129.6 41.2 -- 47.3 6.1 0.14
50.3 -- 51.8 1.5 0.15
61.0 -- 68.6 7.6 0.31
PIN16-22 314.0 10.6 -- 13.7 3.1 0.19
32.0 -- 36.6 4.6 0.15
41.2 -- 42.7 1.5 0.21
PIN16-23 275.3 15.1 -- 31.0 15.9 0.23
158.4 -- 160.8 2.4 0.20
Note
* Gold intervals reported 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: "We are encouraged by the widespread, shallow oxide mineralization within a new host horizon at Sentinel. The Sentinel gold zone occurs in the immediate footwall of the Bullion fault corridor, a very important, north-striking district-scale control with the North Bullion and Pinion deposits also located in its immediate footwall. Sentinel is open to the north and west; there is an excellent chance of intersecting higher-grade mineralization where crossing structures have focused the gold system. Our 2017 program at Sentinel is an important opportunity for us to add more near-surface oxide ounces at the north end of Pinion and further explore the Bullion fault corridor."
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-quarter was sent to the lab for analysis and the remaining core retained in the original core box. A blank or certified reference material was inserted approximately every 10th sample. The Pinion core and RC samples were delivered to ALS Minerals preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to 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. 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 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, and CPG-10216, a qualified person as defined by National Instrument 43-101, standards of disclosure for mineral projects.
About Gold Standard Ventures Corp.
Gold Standard is focused on its Railroad-Pinion gold project, located within the prolific 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 (announced March 15, 2016). 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).
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.