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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 259,809,678
Close 2018-09-24 C$ 2.39
Market Cap C$ 620,945,130
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Gold Standard drills 190.5 m of 2.28 g/t Au at Railroad

2018-09-24 06:40 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD DEEP DRILLING INTERSECTS OUTSTANDING OXIDE GOLD GRADES AND THICKNESSES AT DARK STAR

Gold Standard Ventures Corp. has released impressive new results from four reverse circulation (RC) and 12 core holes at the Dark Star deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. These results are likely to have a substantial impact on the Dark Star deposit's resource potential and development planning.

Four holes in the northern portion of Dark Star intersected exceptional, vertically continuous zones of oxidized gold mineralization including 190.5 metres of 2.28 grams per tonne gold, 230.2 m of 1.87 g/t Au, 240.8 m of 1.70 g/t Au and 122.0 m of 0.81 g/t Au. These results continue to confirm oxide gold resource potential well below the depth of the current resource model. This fall, as part of an expanded development drilling program announced last week, approximately 5,400 m of additional RC drilling in 17 holes will test new targets at depth below the current resource model, and 18 additional holes will test the potential for lateral resource expansion to the north, west and south of the current resource (see Sept. 20, 2018, news release).

To date 23,644 metres of infill, stepout and geotechnical drilling have been completed in 132 RC and core holes at Dark Star. Results from 12 Dark Star holes are summarized below, and with this news release, results have now been reported for 119 of the 132 holes that have been completed. Three of the five rigs active on site will focus on Dark Star through the remainder of 2018.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "In our view, these results are very encouraging. Dark Star is emerging as an important Carlin oxide deposit with multimillion-ounce potential and the size to support a large-scale, bulk-minable open-pit production scenario. After three years of significant success, we think we may still be scratching the surface of Dark Star's prospects which we now think may also include a deeper sulphide zone typical of the larger Carlin-style deposits to the north. We are very excited to have the opportunity to continue drilling with an expanded program over the next two or three months."

Key highlights from Dark Star:

  • The northern portion of Dark Star DC18-09 intersected 190.5 m of 2.28 g/t Au, including separate intervals of 28.0 m of 3.05 g/t Au, 20.2 m of 6.51 g/t Au and 7.7 m of 4.55 g/t Au. The 190.5 m interval contains a 15.5 m zone of material below the 0.14 g/t Au cut-off. Over all, the mineralized zone is thicker and higher-grade than predicted by the current resource model. The hole ended at 221.0 m in 2.81 g/t Au, which is approximately 45 m below the current resource model.
  • DR18-105 intersected 230.2 m of 1.87 g/t Au including separate intervals of 22.9 m of 7.16 g/t Au and 7.6 m of 6.12 g/t Au. Mineralization extends approximately 85 m below the current resource model. Below the thick oxide mineralization, the hole intersected an interval of reduced mineralization including 32.0 m of 1.04 g/t Au.
  • DR18-104 intersected 240.8 m of 1.70 g/t Au including separate intervals of 39.6 m of 2.80 g/t Au, 18.3 m of 3.14 g/t Au, 10.7 m of 3.09 g/t Au. Oxidized mineralization extends approximately 55 m below the current resource model. Below the oxide mineralization, the hole intersected a reduced zone of 27.4 m of 2.28 g/t Au, including 16.8 m of 2.82 g/t Au.
  • In the northern portion of Dark Star, the vertically extensive nature of oxidized mineralization, alteration and fluidized breccia textures supports an early-stage interpretation that drilling may be defining a feeder structure or a breccia pipe setting.
  • DR18-103 intersected 122.0 m of 0.81 g/t Au, including 12.2 m of 3.32 g/t Au. Due to challenging drilling conditions, the hole ended at 202.7 m in 0.54 g/t Au before testing the entire target. DR18-106, which replaced DR18-103, successfully tested the complete target. Assays for DR18-106 are pending.
  • DR18-70 intersected an oxide interval of 112.8 m of 0.61 g/t Au, including separate intervals of 12.2 m of 1.25 g/t Au and 6.1 m of 2.04 g/t Au. The oxide intercept includes a 13.7 m interval of material below the 0.14 g/t Au cut-off. Below the oxide mineralization, the hole intersected a reduced zone of 29.0 m of 2.90 g/t Au, including 10.7 m of 5.85 g/t Au. Mineralization extends approximately 80 m below the current resource model and remains open to the north.
  • Based on the reduced gold intercepts in DR18-70, -104 and -105, there is an emerging sulphide target below the thick, vertically continuous zones of oxide mineralization.

Southern portion of Dark Star:

  • Core hole DC18-18 returned an oxide intercept of 15.2 m of 0.38 g/t Au. The intercept is closer to the current topographic surface than predicted by the resource block model and mineralization remains open to the south. This new opportunity to expand the resource is coincident with an undrilled surface outcrop rock chip anomaly south of the known deposit. Additional drilling is planned for this area.

                         DARK STAR DRILL RESULTS 

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

DR18-70              349.0      175.3-288.1          112.8       0.61
                 including      219.5-231.7           12.2       1.25
                 including      282.0-288.1            6.1       2.04
                                294.2-323.3           29.0       2.90
                 including      311.0-321.7           10.7       5.85
DR18-103             202.7        45.7-62.5           16.8       0.16
                 including       80.7-202.7          122.0       0.81
                                166.2-178.4           12.2       3.32
DR18-104             403.9       24.4-265.2          240.8       1.70
                 including        42.7-82.3           39.6       2.80
                 including      135.7-154.0           18.3       3.14
                 including      205.8-230.2           24.4       2.77
                 including      254.5-265.2           10.7       3.09
                                265.2-292.6           27.4       2.28
                 including      275.9-292.7           16.8       2.82
DR18-105             367.3         9.1-16.7            7.6       0.48
                                  39.6-44.2            4.6       0.39
                                 62.5-292.7          230.2       1.87
                 including      211.9-234.8           22.9       7.16
                 including      285.1-292.7            7.6       6.12
                                292.7-324.7           32.0       1.04
                                324.7-338.4           13.7       0.60
DR18-106             335.3                             assays pending
DC18-04              277.4        geotechnical hole -- assays pending
DC18-06              259.1        geotechnical hole -- assays pending
DC18-08              231.6        geotechnical hole -- assays pending
DC18-09              221.0       30.5-221.0          190.5       2.28
                 including        70.8-98.8           28.0       3.05
                 including      129.0-136.6            7.6       4.55
                 including      150.5-170.7           20.2       6.51
                 including      208.2-215.9            7.7       4.55
DC18-10              198.1        geotechnical hole -- assays pending
DC18-11               66.8                             assays pending
DC18-12              232.9        geotechnical hole -- assays pending
DC18-14              188.5        geotechnical hole -- assays pending
DC18-15              121.9        17.7-28.4           10.7       0.17
                                 32.9-101.4           68.5       0.69
                 including        43.6-55.8           12.2       1.13
                 including        87.4-99.0           11.6       1.41
DC18-16              196.0        71.0-75.9            4.9       0.80
                                101.5-112.2           10.7       0.37
                                191.4-196.0            4.6       0.47
DC18-17              192.0         8.8-11.9            3.1       1.58
                 including       54.6-131.2           76.6       0.47
                                137.2-141.5            4.3       0.17
                                164.3-188.2           23.9       0.44
                                175.0-178.1            3.1       1.29
DC18-18              125.0         4.0-19.2           15.2       0.38
                                  22.3-29.9            7.6       0.25
DC18-19              176.8        93.6-97.7            4.1       0.18
DC18-20              105.2        15.9-22.0            6.1       0.17
                                  32.6-50.9           18.3       0.17
DC18-21               91.4         9.8-15.9            6.1       0.29
DC18-22              304.0                             assays pending
DC18-23               85.3                             assays pending
DC18-24               76.2                             assays pending
       

Gold intervals reported in the table were calculated using a 0.14 g/t Au cut-off for oxide mineralization and a 1.0 g/t Au cut-off for reduced mineralization. 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, commented: "The deep drill tests below the Dark Star resource have provided excellent results for GSV. Assay results, including select zones of greater than seven g/t Au, have pushed the gold zone 80 to 90 m deeper than previously modelled. The mineralization appears to be related to the Ridgeline structural zone and remains open to the north, south, west and at depth. We are anxiously awaiting results of the final two holes (DR18-106 and DC18-22) to design follow-up drilling."

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.

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 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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