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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 254,254,777
Close 2018-06-12 C$ 1.53
Market Cap C$ 389,009,809
Recent Sedar Documents

Gold Standard drills 67.1 m of 1.05 g/t Au at Railroad

2018-06-13 06:41 ET - News Release

Mr. Jonathan Awde reports

NEW GOLD DEPOSIT EMERGING AT GOLD STANDARD VENTURES' RAILROAD-PINION PROJECT IN NEVADA'S CARLIN TREND

Gold Standard Ventures Corp. has released results from seven reverse circulation (RC) drill holes at the Dixie target on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. This is the first systematic drilling ever undertaken at Dixie which lies approximately four kilometres south of the Dark Star deposit and within the highly prospective north-striking Dark Star corridor.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "We are very excited by the potential for a significant deposit at Dixie. This target was known historically but the geology was misunderstood at the time. Our technical team recognizes that Dixie has many similarities to the high-grade deposit at North Dark Star, including the same host rock and structural setting that we have learned to value in our five years of intensive exploration at Railroad-Pinion. The key favourable features appear to exist along Dixie's 2,000 metres of known strike length and potentially along the entire 12-kilometre length of the Dark Star corridor, which would be a major development. With just under $40-million in our treasury, we have lots of room to pursue this and other opportunities in the district."

Success at Dixie is in addition to recent developments at Jasperoid Wash where Gold Standard drilled its first hole in 2017 and expects to report a maiden resource estimate by the end of 2018, just 14 months later.

This year's first seven holes at Dixie are a portion of Gold Standard's $25.8-million (U.S.) development and exploration program which includes an estimated 74,800 m of RC (reverse circulation) and core drilling in 381 holes (see Feb. 26, 2018, news release). One of the objectives of the 2018 drilling was to test new targets west and south of Dixie where favourable Pennsylvanian-Permian carbonate rocks are altered, folded and crosscut by dike-filled faults. These geological patterns at Dixie are reminiscent of those documented at Dark Star.

Based on previous drilling, gold mineralization at Dixie extends for approximately 2,000 m (north-south) by 450 m (east-west) and remains open in multiple directions. Two new RC holes west of the original Dixie prospect have intersected thick zones of gold mineralization hosted in pervasively altered and variably oxidized debris flow conglomerate and calcarenite -- the same host section as the Dark Star deposit. DX18-06 intersected 67.1 m of 1.05 g/t Au, including 13.7 m of 1.63 g/t Au and 9.1 m of 2.30 g/t Au; and DX18-07 intersected 33.5 m of 0.65 g/t Au, including 3.0 m of 2.25 g/t Au and 3.0 m of 1.08 g/t Au and a second intercept of 51.8 m of 0.28 g/t Au. These are the thickest and highest-grade intercepts drilled to date at Dixie, once again confirming the host potential of the Penn-Perm carbonate rocks and the abundance of exploration opportunities in the Railroad district.

Key highlights from Dixie:

  • DX18-06 intersected 67.1 m of 1.05 g/t Au, including 13.7 m of 1.63 g/t Au and 9.1 m of 2.30 g/t Au. Mineralization is hosted within favourable Penn-Perm debris flow conglomerate and calcarenite where these units are crosscut by quartz-feldspar porphyry dikes and sills that occupy north-striking faults. Gold mineralization begins within 75 m of the surface.
  • DX18-07, located 100 m south of DX18-06, intersected 33.5 m of 0.65 g/t Au, including 3.0 m of 2.25 g/t Au and 3.0 m of 1.08 g/t Au, and a lower intercept of 51.8 m of 0.28 g/t Au. These intercepts are hosted in the Penn-Perm debris flow conglomerate.
  • DX18-05, located 230 m west of DX18-07, intersected 24.4 m of 0.18 g/t Au updip from DX18-07. Mineralization occurs along the brecciated contact between the Penn-Perm debris flow conglomerate and the lower calcareous sandstone unit. The brecciated nature of the DX18-05 intercept, and its spacing from DX18-07, leaves room for additional exploration potential and possibly higher grades updip across the Dixie portion of the larger Dark Star corridor.

The geologic setting of the intercepts in DX18-06 and DX18-07 is similar to that of North Dark Star and other footwall deposits on the Carlin trend, that is, stratabound zones in carbonate rocks along small displacement faults, in the footwall of large displacement, corridor bounding faults. This new geologic interpretation suggests that this target may be present all along the 2,000 m strike length of the Dixie prospect and is also largely untested along the entire 12 km length of the Dark Star corridor. This gives new life to the Dark Star corridor and the surrounding Penn-Perm rocks that are prevalent in the recently acquired lands south of Railroad where further similar structural settings are present in undrilled and untested zones that have been identified by surface mapping, sampling and geophysics.

Initial AuCN (gold monocyanide) results indicate the intercepts in both DX18-06 and DX18-07 comprise mixed zones of oxide and reduced mineralization. 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.

                        DIXIE DRILL RESULTS

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

DX18-01       481.6             no assays greater than 0.14 g/t Au
DX18-02       426.7             no assays greater than 0.14 g/t Au
DX18-03       449.6       243.9-245.4           1.5           1.69
DX18-04       461.8             no assays greater than 0.14 g/t Au
DX18-05       463.3       230.2-254.6          24.4           0.18
DX18-06       422.1         73.1-89.9          16.8           0.48
                          111.3-128.0          16.8           0.41
                          147.8-214.9          67.1           1.05
                          152.4-166.1          13.7           1.63
                          181.4-190.5           9.1           2.30
                          221.0-250.0          29.0           0.40
DX18-07       426.7       112.8-115.8           3.1           0.29
                          129.5-132.6           3.1           0.28
                          152.4-167.6          15.2           0.77
including                 153.9-157.0           3.1           1.63
including                 160.0-163.1           3.1           1.39
                          170.7-204.2          33.5           0.65
including                 172.2-175.3           3.1           2.25
including                 190.5-193.5           3.1           1.08
                          228.6-280.4          51.8           0.28

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.

Michael Harp, Gold Standard's project geologist at Dixie, commented: "Continued success in the Penn-Perm rocks illustrates the elevated exploration potential across the southern property acquisition completed in 2017. The thick intercepts in DX18-06 and DX18-07 at Dixie illustrate that Dark Star-like intercepts are possible anywhere Penn-Perm rocks have been exposed to structural preparation and mineralizing fluids within the dike-filled corridor. The new geologic interpretation is being applied at Dixie to hone in on higher-grade mineralization and to expand this zone. Continued success at Dixie and the thick, plus one-gram intercepts shows Dixie as a high-priority target worth advancing toward a maiden resource."

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, certified reference material or rig duplicate was inserted approximately every 10th sample. The samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev., or American Assay Laboratories Inc. in Sparks, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to Bureau Veritas certified laboratory in Sparks, Nev., or Vancouver, B.C., or remained with American Assay Laboratories Inc. in Sparks, Nev. 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.

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

The scientific and technical contents contained in this news release have 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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