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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 254,254,777
Close 2018-05-08 C$ 2.06
Market Cap C$ 523,764,841
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Gold Standard drills 22.9 m of 1.17 g/t Au at Railroad

2018-05-08 06:36 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD INFILL DRILLING EXPANDS THE RESOURCE POTENTIAL AT THE PINION OXIDE GOLD DEPOSIT, CARLIN TREND, NEVADA

Gold Standard Ventures Corp. has provided an update on the status of the 2018 infill drilling program at the Pinion oxide gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. To date, two reverse circulation (RC) and two core rigs have completed 11,402 metres of infill and geotechnical drilling in 111 holes at Pinion. Results from another 35 Pinion holes are summarized below.

Key highlights from Pinion:

  • On the southwest side of Pinion, PR18-52 intersected 22.9 m of 1.17 grams per tonne gold, including 12.2 m of 1.73 g/t Au; PR18-29 intersected 32.0 m of 0.68 g/t Au, including 10.7 m of 1.38 g/t Au; and PR18-42 intersected 22.9 m of 0.53 g/t Au. These intercepts are near surface, higher grade than predicted by the resource model and are outside of the west highwall of the resource pit. Collectively, these drill intercepts suggest near-surface, oxide resource expansion potential exists to the southwest of the deposit.
  • Also, on the southwest side of Pinion, PR18-47 intersected 12.2 m of 1.62 g/t Au, including 6.1 m of 2.74 g/t Au; PR18-60 intersected 18.3 m of 1.20 g/t Au, including 6.1 m of 2.62 g/t Au; PR18-27 intersected 10.7 m of 2.96 g/t Au; PR18-22 intersected 16.8 m of 1.35 g/t Au; and PR18-48 intersected 15.2 m of 0.91 g/t Au, including 4.6 m of 1.95 g/t Au. These intercepts are near surface, higher grade than predicted by the resource model and have higher AuCN (gold monocyanide) ratios (73 to 87 per cent) than currently modelled. AuCN ratios are a first-pass estimate of the potential gold recovery and ratios greater than 70 per cent are indicative of an oxide deposit.
  • Along strike to the southeast of the main zone, PR18-26 intersected 77.7 m of 0.77 g/t Au, including 19.8 m of 1.49 g/t Au. The intercept is thicker and higher grade than predicted by the resource block model.
  • Along strike to the northwest of the main zone, PR18-45 returned 50.3 m of 0.60 g/t Au, including 18.3 m of 1.10 g/t Au. Mineralization begins at the topographic surface, and is thicker and higher grade than predicted by the resource block model.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "This year's very ambitious drill program remains on time and within budget thanks to good planning and execution by our team. At every step of the way, we see confirmation of the size and strength of the mineralizing system on our claims in south Carlin. The results from infill drilling are more than meeting expectations but we believe the best upside surprises are likely to come from the exploration drilling which is now getting under way."

This year's $25.8-million (U.S.) program includes an estimated 74,800 m of RC and core drilling in 381 holes (see Feb. 26, 2018, news release). Of this amount, Dark Star and Pinion infill drilling is expected to account for approximately 40,800 m in 296 holes while exploration should add another 34,000 m of drilling in 85 holes. The current status of this work is as follows:

  • A 25-to-30-hole phase 1 exploration program is under way at Jasperoid Wash where a new oxide gold deposit was discovered in 2017. Drilling this year with two RC rigs will reduce spacings and provide the requisite data for a maiden resource estimate by the end of 2018. Drilling will follow up last year's results of 103.7 m of 0.56 g including 30.5 m of 0.93 g/t Au in JW17-01 (see Oct. 5, 2017, news release); 54.9 m of 0.89 g/t Au including 12.2 m of 1.66 g/t Au in JW17-04, 30.5 m of 0.73 g/t Au in JW17-08 and 77.7 m of 0.48 g/t Au in JW17-10 (see Jan. 11, 2018, news release).
  • One hundred thirty-nine infill and development drill holes, totalling 15,736 m, have been completed at the Dark Star and Pinion oxide gold deposits. With this news release, results have now been reported for 81 of the 139 holes that have been completed. Approximately 157 drill holes remain as part of the Dark Star and Pinion development program. Infill drilling will resume at Dark Star in mid-May. Geotechnical characterization studies are under way at Pinion and Dark Star to determine the pit slope angle appropriate for the project.
  • Also on the exploration front, 19.4 line kilometres of CSAMT (controlled-source audio-frequency magnetotellurics) have been completed at the new Ski Track target, which is along the northwestern extension of the Jasperoid Wash structural corridor. CSAMT is a geophysical tool that has proved to be very useful in locating drill targets at Railroad-Pinion. Three RC scout holes, totalling 1,358 m, have been completed on new exploration targets west of Dixie, for which assays results are awaited.

                      PINION DRILL RESULTS 

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

PR18-17           135.6        89.9-134.1       44.2        0.44
PR18-18           170.7        88.4-129.6       41.2        0.43
                              137.2-141.8        4.6        0.34
PR18-19            85.3         50.3-64.0       13.7        0.65
including                       54.9-59.5        4.6        1.60
PR18-20           157.0         18.3-19.8        1.5        0.32
                              108.2-131.1       22.9        0.52
                              141.8-143.3        1.5        0.20
PR18-22            59.4            0-16.8       16.8        1.35
                                29.0-36.6        7.6        0.32
PR18-26           146.3        68.6-146.3       77.7        0.77
including                     111.3-131.1       19.8        1.49
PR18-27            61.0         24.4-35.1       10.7        2.96
                                45.7-60.9       15.2        0.26
PR18-29            89.9         57.9-89.9       32.0        0.68
including                       59.4-70.1       10.7        1.38
PR18-31            36.6                           assays pending
PR18-32            79.2                           assays pending
PR18-33            73.2                           assays pending
PR18-34            79.2                           assays pending
PR18-35            54.9                           assays pending
PR18-36            39.6                           assays pending
PR18-37            48.8                           assays pending
PR18-38            67.1                           assays pending
PR18-39            42.7                           assays pending
PR18-40           114.3         61.0-96.0       35.0        0.56
                               99.1-100.6        1.5        0.26
PR18-41            76.2         54.9-65.6       10.7        0.87
PR18-42            96.0         68.6-91.5       22.9        0.53
PR18-43            45.7         22.8-28.9        6.1        0.31
PR18-44            30.5            0-10.7       10.7        0.28
PR18-45            65.5            0-50.3       50.3        0.60
including                        1.5-19.8       18.3        1.10
PR18-46           230.1       123.5-125.0        1.5        0.38
PR18-47            54.9         22.9-35.1       12.2        1.62
including                       22.9-29.0        6.1        2.74
                                41.2-42.7        1.5        0.30
PR18-48            45.7         10.7-25.9       15.2        0.91
including                       13.7-18.3        4.6        1.95
PR18-49           190.5       128.0-160.0       32.0        0.54
including                     134.1-138.7        4.6        1.33
PR18-50           210.3        91.4-170.7       79.3        0.60
including                     128.0-138.7       10.7        1.76
PR18-51           103.6         68.6-73.2        4.6        0.29
                               89.9-103.6       13.7        0.21
PR18-52            79.2             0-3.1        3.1        0.28
including                       56.4-79.3       22.9        1.17
                                57.9-70.1       12.2        1.73
PR18-53            85.3             0-3.1        3.1        0.92
                                61.0-73.2       12.2        0.43
PR18-54            57.9         19.8-27.4        7.6        0.67
PR18-55            85.3         50.3-57.9        7.6        0.81
PR18-56            71.6         38.1-56.4       18.3        0.38
                                60.9-64.0        3.1        0.37
PR18-57            61.0             0-4.6        4.6        0.33
                                24.4-32.0        7.6        0.62
PR18-58            65.5         56.4-65.5        9.1        0.82
PR18-59            91.4         53.4-62.5        9.1        0.45
                                71.6-73.1        1.5        0.41
                                77.7-88.4       10.7        0.24
PR18-60            39.6          1.5-19.8       18.3        1.20
including                        4.6-10.7        6.1        2.62
PR18-61            73.2            0-10.7       10.7        1.08
                                15.2-28.9       13.7        0.27
PR18-62            76.2         67.0-70.1        3.1        0.29
PR18-63            79.2          1.5-33.5       32.0        0.44
PR18-64            51.8          3.1-15.2       12.1        0.27
PR18-65            53.3         50.3-53.4        3.1        0.22
PR18-66            30.5          4.6-30.5       25.9        0.35
 
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.      

Don Harris, Gold Standard's senior development geologist, stated: "The Pinion project has been explored for the past 35 years by a number of companies. The 2018 Gold Standard program is the first concentrated effort to bring the deposit forward to a production decision. This year's drill program along with ongoing metallurgy and engineering studies will provide the necessary data for gold recovery, processing options, and operating costs in the PEA now in progress. Additionally, drilling results indicate the opportunity to grow the potentially minable portion of the deposit to the west, and that a higher grade (greater than one g/t Au) core to the deposit has better lateral continuity then currently modelled. These, combined with the higher gold ratios in key areas, could enhance the project economics."

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. A blank or certified reference material was inserted approximately every 10th sample. The samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to 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. 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 included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results. Final drill collar locations are surveyed by differential GPS by Apex Surveying LLC of Spring Creek, Nev.

The scientific and technical content contained in this news release has 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.

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 2014 Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidate the company's premier land package on the Carlin trend. The Pinion deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 gram per tonne Au, totalling 630,300 ounces of gold, and an inferred mineral 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 a mineral resource estimate prepared in accordance with NI 43-101 consisting of an indicated mineral resource of 15.38 million tonnes grading 0.54 g/t Au, totalling 265,100 ounces of gold, and an inferred mineral resource of 17.05 million tonnes grading 1.31 g/t Au, totalling 715,800 ounces of gold, using a cut-off grade of 0.2 g/t Au.

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