11:01:58 EDT Fri 29 Mar 2024
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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 233,496,671
Close 2017-11-20 C$ 1.91
Market Cap C$ 445,978,642
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Gold Standard drills 56.4 m of 1.68 g/t Au at Railroad

2017-11-21 06:34 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD VENTURES INFILL DRILLING COULD INCREASE SIZE AND GRADE OF PINION OXIDE GOLD DEPOSIT IN CARLIN TREND

Gold Standard Ventures Corp. has released results from 11 of 19 completed reverse circulation (RC) and core holes at the Pinion oxide gold deposit on its 100-per-cent-owned/controlled Railroad project in Nevada's Carlin trend. These drill holes are a portion of Gold Standard's 2017 $15.5-million (U.S.) program which includes up to 48,800 metres of RC and core drilling in 117 holes (see Feb. 2, 2017, news release).

The Pinion drilling was designed to upgrade and potentially add to resources by reducing drill spacing in critical portions of the deposit and expand drill coverage near the margins of the current pit design for possible resource additions.

All 11 drill holes intersected oxidized and altered multilithic dissolution collapse breccia (mlbx), the principal Pinion host rock, and seven of the holes returned significant, higher-grade intercepts greater than one gram per tonne. Results include 56.4 metres of 1.68 grams per tonne gold in PIN17-02, 42.7 m of 1.23 g/t Au in PIN17-10, 15.2 m of 1.66 g/t Au in PIN17-04 and 32.0 m of 0.89 g/t Au in PIN17-05. In most instances, the new results either confirm or outperform the expectations in the current resource estimate block model.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "We are pleasantly surprised by our Pinion infill drilling success which appears to be adding resource ounces at better-than-expected grades. We think these new results could make a valuable contribution to the preliminary economic assessment now in progress. Pinion is no longer the small deposit of uncertain grade and metallurgy that we acquired four years ago. Over all, we are excited by the impact this year's drill program could have on our valuation. There are still more than 37 drill holes to be reported on and we are hopeful that we will be able to report another new discovery from this program."

Key highlights

  • At the Pinion north zone, PIN17-02 intersected 56.4 m of 1.68 g/t Au, including 38.1 m of 2.32 g/t Au. PIN17-04 intersected 15.2 m of 1.66 g/t Au including 10.6 m of 2.17 g/t Au. PIN17-01 intersected 22.8 m of 0.80 g/t Au. All three drill holes appear to outperform the resource block model in this portion of the deposit and demonstrate the continuity of gold mineralization, with drill hole PIN17-01 extending the higher grade (greater than 1.0 g/t Au) beyond the current margins of the Pinion pit design.
  • In the Pinion main zone, PIN17-10 intersected 42.7 m of 1.23 g/t Au including a higher-grade interval of 22.8 m of 1.92 g/t Au; and PIN17-05 intersected 32.0 m of 0.89 g/t Au including 12.2 m of 1.66 g/t Au. Both drill holes appear to outperform the resource block model in this portion of the deposit.
  • Results from drill holes PIN17-05, -06, -07, -08, -09 and -10 confirm the tenor and grade of the block model in the southern portion of the main zone and extend mineralization beyond the current margins of the Pinion pit design. Drill hole PIN17-12, a metallurgical core hole, also appears to outperform the resource block model.

                           PINION DRILL RESULTS 

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

PIN17-01              25.9 -- 47.2             21.3          0.59
                      61.0 -- 83.8             22.8          0.80
PIN17-02              10.7 -- 67.1             56.4          1.68
including             13.7 -- 51.8             38.1          2.32
                      79.3 -- 80.8              1.5          0.20
                      96.0 -- 99.1              3.1          0.40
                    123.5 -- 128.1              4.6          0.40
PIN17-03                                           assays pending
PIN17-04              79.3 -- 94.5             15.2          1.66
including             79.3 -- 89.9             10.6          2.17
                    123.4 -- 128.0              4.6          0.36
PIN17-05              12.2 -- 44.2             32.0          0.89
including             22.9 -- 35.1             12.2          1.66
PIN17-06               6.1 -- 25.9             19.8          0.75
including              7.6 -- 12.2              4.6          2.13
PIN17-07              24.4 -- 32.0              7.6          1.22
PIN17-08              29.0 -- 38.1              9.1          0.97
                      45.7 -- 54.8              9.1          0.50
                      86.8 -- 89.9              3.1          0.33
PIN17-09                  0 -- 3.1              3.1          0.39
                      54.9 -- 73.2             18.3          0.40
                    102.1 -- 103.6              1.5          0.15
PIN17-10                 0 -- 42.7             42.7          1.23
including             13.7 -- 36.5             22.8          1.92
                      74.6 -- 77.7              3.1          0.46
PIN17-11              50.3 -- 68.6             18.3          0.78
                     94.5 -- 100.6              6.1          0.42
PIN17-12              12.2 -- 53.8             41.5          0.85
including             41.2 -- 53.8             12.6          1.58
PIN17-13                                           assays pending
PIN17-14                                           assays pending
PIN17-15                                           assays pending
PIN17-16                                           assays pending
PIN17-17                                           assays pending
PIN17-18                                           assays pending
PIN17-19                                           assays pending

** Gold intervals reported in the 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: "We are off to a great start in our development drill program at Pinion with several greater-than-one-gram-per-tonne-gold oxide intercepts well above the 0.62 g/t Au average grade of the deposit. These results suggest local structural control to higher-grade mineralization within the extensive multilithic breccia host horizon, a common grade distribution pattern on the Carlin trend. As we progress with our infill program, we hope to continue to better define and extend these greater-than-one-gram-per-tonne-gold oxide gold zones, increasing the average grade of the Pinion deposit."

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 core and RC samples were delivered to either ALS Minerals or Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to either ALS Minerals or Bureau Veritas 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 ICP (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 insure accurate and verifiable results.

Drill hole deviation was measured by gyroscopic downhole surveys that were completed on all holes by Minex or International Directional Services of Elko, Nev. Final collar locations are surveyed by differential GPS (global positioning system) by Apex Surveying LLC of Spring Creek, Nev.

The scientific and technical content 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 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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