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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 254,254,777
Close 2018-05-15 C$ 2.01
Market Cap C$ 511,052,102
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Gold Standard drills 54.9 m of 1.64 g/t Au at Railroad

2018-05-15 06:34 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD INFILL DRILLING EXPANDS THE RESOURCE POTENTIAL AT THE DARK STAR 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 Dark Star oxide gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. To date, 4,605 metres of infill drilling have been completed in 28 holes at Dark Star. Following the completion of these 28 holes in mid-March, infill drilling shifted to the Pinion deposit where 123 holes have now been completed. Infill drilling has resumed at Dark Star with one reverse circulation (RC) rig and one core rig. Results from another four Dark Star holes are summarized below.

Key highlights from Dark Star:

  • In the northern portion of Dark Star, DR18-26 intersected 54.9 m of 1.64 grams per tonne gold (g/t Au), including 18.3 m of 3.04 g/t Au. This intercept is higher grade and thicker than predicted by the resource model. DR18-26 also intersected 12.2 m of 1.36 g/t Au beginning at the topographic surface.
  • The lower 30 m of the 54.9 m intercept in DR18-26 is in the footwall of the north-striking Ridgeline fault and, more importantly, confirms a new high-grade target to the west that was previously identified in DS17-35 and DS17-37, two of the best holes ever drilled at Railroad-Pinion. DS17-35 returned 237.8 m of 2.96 g/t Au, including 93.0 m of 5.06 g/t Au while DS17-37 yielded 141.8 m of 3.32 g/t Au, including 25.9 m of 8.63 g/t Au (see Jan. 23, 2018, news release). Collectively, these results provide an opportunity to expand the resource to the west of the Ridgeline fault and potentially duplicate some of the project's best intercepts.
  • Approximately 145 development and exploration drill holes remain to be drilled as part of the Dark Star development program.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Once again, we are impressed by the grade and thickness of the intercepts from the Dark Star deposit. As we do the detailed infill drilling for our upcoming PEA [preliminary economic assessment], we are finding the smaller-scale structural features that generate exceptional grade in Carlin-style deposits. We are also discovering lateral extensions which we expect to be able to bring within the PEA's pit configuration and include in our mine plans."

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 advancing at Jasperoid Wash where a new oxide gold deposit was discovered in 2017. Drilling this year will reduce spacings and provide the requisite data for a maiden resource estimate by the end of 2018. Two drill rigs have completed 500 m of drilling in four holes, for which assay results are pending.
  • One hundred fifty-one infill and development drill holes, totalling 17,023 m, have been completed at the Dark Star and Pinion oxide gold deposits. With this news release, results have now been reported for 85 of the 151 holes that have been completed.
  • A preliminary economic assessment (PEA) for the Dark Star and Pinion resources is scheduled for completion during the second half of 2018. In connection with the PEA, new resource estimates will be completed at Dark Star and Pinion.
  • On the exploration front, five RC scout holes, totalling 2,285 m, have been completed on new exploration targets west of Dixie, for which assays results are awaited.

                      DARK STAR DRILL RESULTS

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

DR18-25            33.5-41.1                7.6               0.49
                 120.4-121.9                1.5               0.21
                 153.9-155.4                1.5               0.20
DR18-26               0-12.2               12.2               1.36
                   41.2-48.8                7.6               0.83
                   62.5-93.0               30.5               0.55
                 122.0-131.1                9.1               0.28
                 195.1-250.0               54.9               1.64
                 221.0-239.3               18.3               3.04
DC18-01            50.1-57.0                6.9               0.25
                  71.0-136.2               65.2               0.36
DC18-02                171.0    no assays greater than 0.14 g/t Au                  

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.

Don Harris, Gold Standard's senior development geologist, stated: "Phase 1 drilling at Pinion has been completed at this time. We are waiting on final results to determine where additional stepout drilling is required on the deposit later in the year. The drill campaign now returns to North Dark Star, where approximately 30 infill holes remain in the highest-grade portions of the deposit, and Main Dark Star. A phase 2 program for drilling is being planned to determine the extension to plus one g/t Au North Dark Star mineralization west of the Ridgeline fault, encountered in holes DS17-35, DS17-37 and DR18-26. Collectively, these drill intercepts represent an open area of mineralization outside of the current resource model."

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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