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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 246,231,646
Close 2017-09-28 C$ 2.03
Market Cap C$ 499,850,241
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Gold Standard to start drilling at Lewis mid-October

2017-09-28 06:57 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD TO COMMENCE DRILLING AT THE LEWIS PROJECT, BATTLE MOUNTAIN DISTRICT, NEVADA

Gold Standard Ventures Corp. will commence a drill program in mid-October at its 100-per-cent-owned Lewis project in the Battle Mountain mining district, Lander county, Nevada. The $1.5-million (U.S.) program will test a variety of targets with approximately 4,600 metres of drilling in 11 holes.

The Lewis project shares a common land boundary with Newmont's Phoenix mine, one of the most prolific gold-silver producers on the Battle Mountain-Eureka trend. The large mineral property (2,161 hectares or 5,340 acres) has several known mineralized zones and potential for new discoveries of economic gold and silver deposits. The project was acquired by Gold Standard as part of its purchase of Battle Mountain Gold completed on June 14, 2017.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "We believe the Lewis project is a high potential exploration opportunity which also has significant strategic value due to its location next to a large producing mine. Lewis has never been systematically explored. We think our highly experienced Gold Standard Ventures exploration team can unravel the largely untested geological potential of the property. Our aim is to enhance its value in this year's program."

Key highlights include:

  • Completing core hole BVM16C-03B which was suspended due to adverse weather conditions in January, 2017. The hole was halted in visually encouraging alteration above the targeted permissive host formations (Antler sequence);
  • Site MGH-F will test for the down-dip extension of the Phoenix deposit which has the potential for high-grade gold-silver deposits in Antler Peak limestone similar to the adjacent Lower Fortitude deposit that produced 1.9 million ounces of gold and 7.5 million ounces of silver at an average grade of eight grams per tonne gold and 32 g/t silver;
  • One reverse circulation precollar/core tail hole is planned in the Southwest target area to offset by 300 m a 17 m skarn intercept drilled by Barrick Gold grading 5.7 g/t Au (from 776 to 793 m in FWL-30 using a 2.5 g/t cut-off). The bottom of this interval has 4.6 m of nine g/t Au and 21 g/t Ag. This hole will also test for Fortitude-style gold mineralization in Antler Peak limestone.

RC drilling will test for northern, structurally controlled extensions of the historical Virgin deposit in the footwall of the Virgin fault. The Virgin gold-silver deposit consists of higher-grade structures surrounded by low-grade disseminated mineralization within a zone measuring about 600 m long, 120 m wide and 180 m deep. RC drilling will test important structural intersections, permissive host rocks and geochemical anomalies that occur along a prominent string of east-northeast-trending magnetic anomalies. Drilling by a previous operator (Madison Minerals, 2002 to 2008) has generated positive uncut results including*:

  • 21 m of 7.938 g/t Au and 64.3 g/t Ag at 76 to 97 m in MAD-83;
  • 79.2 m of 3.06 g/t Au and 13.3 g/t Ag at 44.2 to 123.4 m in MAD-20.

* The reader is cautioned that the gold intercepts above are of unknown true thickness, and the results have not been fully verified by Gold Standard's geologists. These data are presented to provide an indication of the possible mineralization at the Lewis project and as a guide to future exploration.

Other targets are in development, especially targets north of the Virgin deposit in and around the Virgin fault. Funds are budgeted for expanding the soil grid to the north and additional gravity coverage. Gravity surveys have been used effectively by the company elsewhere in Nevada.

Gold Standard's geologic mapping and rock chip sampling have concentrated on areas along the Virgin fault and adjacent structures in the Hider, White-Shiloh and the Galena areas. Highlights from 57 rock chip samples include:

  • Strongly anomalous gold and silver in mineralized faults in the footwall of the Virgin fault hosted in the Harmony formation. Assays of dump grab, outcrop and channel samples ranged from less than 0.005 to 9.995 g/t Au.
  • A 1.9 m channel sample of altered dacite porphyry yielded 1.6 g/t Au at the Galena prospect.
  • The Virgin fault zone is locally gold and silver bearing, especially at the historic Hider mine where two separate channel samples returned two m at 1.8 g/t Au and one m at three g/t Au.

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

All Gold Standard sampling was conducted under the supervision of the company's senior 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 Lewis rock 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 are 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.

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.

About Gold Standard Ventures Corp.

Gold Standard is an advanced-stage gold exploration company focused on district-scale discoveries on its Railroad-Pinion gold project, located within the prolific Carlin trend. The Dark Star deposit, 2.1 kilometres to the east of Pinion, now has a National Instrument 43-101-compliant resource estimate consisting of an indicated mineral resource of 15.38 million tonnes grading 0.54 gram per tonne gold, totalling 265,100 ounces of gold, and an inferred resource of 17.05 million tonnes grading 1.31 g/t Au, totalling 715,800 ounces of gold, using a cut-off grade of 0.20 g/t Au. The Pinion deposit has an NI 43-101-compliant resource estimate consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 g/t Au, 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).

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