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Gold Standard Ventures Corp
Symbol GSV
Shares Issued 259,809,678
Close 2019-02-21 C$ 1.62
Market Cap C$ 420,891,678
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Gold Standard drills 12.2 m of 1.17 g/t Au at Railroad

2019-02-21 07:09 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD'S JASPEROID WASH EMERGING AS 4TH LARGE, SHALLOW OXIDE GOLD DEPOSIT AT RAILROAD-PINION PROJECT

Gold Standard Ventures Corp. has released phase 2 results from 19 reverse circulation (RC) holes and two core holes at the Jasperoid Wash deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend.

Jasperoid Wash is located approximately six kilometres south of the Pinion deposit, 7.5 km southwest of the Dark Star deposit and four km southwest of the Dixie deposit. The phase 2 Jasperoid Wash drilling program was designed to expand areas of known shallow oxide mineralization, test new targets north and south of the existing drill pattern, and provide additional material for metallurgical testing.

Two holes at Jasperoid Wash intersected thick, near-surface oxide gold mineralization hosted in pervasively altered and oxidized Pennsylvanian-Permian (Penn-Perm) debris flow conglomerate and calcarenite -- the same host section as the Dark Star and Dixie deposits. RC hole JW18-37 intersected 25.9 metres of 0.69 gram per tonne gold, including 6.1 m of 1.10 g/t Au; and JW18-30 intersected 27.7 m of 0.86 g/t Au, including 12.2 m of 1.17 g/t Au. These results continue to support the lateral and strike continuity of oxide mineralization at Jasperoid Wash and establish the north-striking dike-filled fault corridor as a control on mineralization.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "Jasperoid Wash is emerging as a big system, thus far extending approximately 1,575 m along a north-northeast strike by 650 m wide east-west within a dike-filled fault corridor. Mineralization remains open in all directions for potential further expansion. Initial grades may appear low but drilling to date is enabling us to unravel the features controlling higher grades, just as we have been doing successfully at our Pinion, Dark Star and Dixie discoveries. Once again, we are confirming that Railroad-Pinion is not a patchwork of smaller deposits but rather a strong, district-scale system with remarkable continuity."

Key highlights from Jasperoid Wash:

  • Core hole JW18-30 intersected 27.7 m of 0.86 g/t Au, including 4.9 m of 1.12 g/t Au and 12.2 m of 1.17 g/t Au. The hole confirmed the downdip continuity of mineralization intersected in JW18-01 (see July 26, 2018, news release). Material from this hole will be used for column leach testing.
  • Stepout hole JW18-37 intersected 25.9 m of 0.69 g/t Au, including 6.1 m of 1.10 g/t Au, of near-surface oxide mineralization. This intercept is approximately 80 m north of drill holes JW18-26 (22.9 m of 0.76 g/t Au, including 10.7 m of 1.15 g/t Au) and JW18-28 (38.1 m of 0.63 g/t Au, including 15.2 m of 1.23 g/t Au) (see July 26, 2018, news release). These oxide intercepts begin at or near the current topographic surface.
  • JW18-29, a core twin of RC hole JW18-16 (27.4 m of 0.25 g/t Au -- announced on July 26, 2018), intersected 53.2 m of 0.31 g/t Au in the central portion of the deposit. Oxide mineralization begins at the current topographic surface and the intercept is thicker and higher grade than the JW18-16 intercept. Mineralized material from this hole will be used for column leach testing.
  • On the northernmost end of the deposit, stepout drill holes JW18-47 and -48 intersected oxide mineralization beginning at the current topographic surface. These intercepts extend the strike length of the deposit approximately 550 m to the north of drill holes JW18-26 (22.9 m of 0.76 g/t Au) and JW18-28 (38.1 m of 0.63 g/t Au) where mineralization also begins at or near the current topographic surface (see July 26, 2018, news release). Mineralization remains open for additional expansion.
  • On the southern end of the deposit, drill holes JW18-38, -40, -41, -43 and -44 intersected shallow oxide gold mineralization that extends the deposit to the south and southeast. Oxide mineralization begins at or near the current topographic surface, and remains open to the east and south.
  • Drilling has outlined a zone of near-surface, oxide gold mineralization measuring approximately 1,575 m long (striking north-northeast) by 650 m wide (east-west). The 49 holes completed in 2018 continue to establish lateral and strike continuity of the near-surface oxide mineralization which remains open in multiple directions.
  • AuCN test results indicate the significant drill intercepts comprise zones of both oxide and reduced mineralization. AuCN ratios are a first-pass estimate of the potential gold recovery and ratios greater than 60 per cent are indicative of oxide material. Further metallurgical work is required.

                  JASPEROID WASH DRILL RESULTS 

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

JW18-29         210.9        0.6-53.8           53.2        0.31
                            74.7-81.4            6.7        0.32
                          111.9-124.1           12.2        0.22
JW18-30         399.9       56.7-84.4           27.7        0.86
                            57.3-62.2            4.9        1.12
                            72.3-84.5           12.2        1.17
                          101.2-105.6            4.6        1.42
including                 113.4-125.1           11.7        0.45
including                 126.8-136.3            9.5        0.31
                          140.8-151.5           10.7        0.43
                          162.2-183.5           21.3        0.36
                          195.7-207.9           12.2        0.44
JW18-31         320.0                      no significant assays
JW18-32         236.2       35.1-41.2            6.1        0.33
JW18-33         249.9     129.5-132.6            3.1        0.17
JW18-34         274.3       21.3-24.4            3.1        0.16
                            30.5-38.1            7.6        0.23
                            54.8-57.9            3.1        0.18
                            64.0-68.6            4.6        0.34
                            92.9-96.0            3.1        0.27
JW18-35         297.3      64.0-100.6           36.6        0.32
JW18-36         304.9                      no significant assays
JW18-37         172.0       15.2-41.1           25.9        0.69
including                   16.7-22.8            6.1        1.10
JW18-38         152.4       18.3-25.9            7.6        0.15
                            41.2-65.6           24.4        0.22
JW18-39         172.2     129.6-135.7            6.1        0.14
                          138.7-141.8            3.1        0.18
                          146.3-150.9            4.6        0.16
JW18-40         224.0          0-15.2           15.2        0.23
                            73.1-77.7            4.6        0.16
JW18-41         307.9        9.1-15.2            6.1        0.14
                            21.3-39.6           18.3        0.16
JW18-42         184.4       28.9-33.5            4.6        0.17
JW18-43         225.6          0-10.7           10.7        0.22
                            65.5-71.6            6.1        0.34
JW18-44         300.2       21.3-60.9           39.6        0.23
                            76.2-88.4           12.2        0.16
                           99.1-111.3           12.2        0.41
JW18-45         282.0       45.7-56.4           10.7        0.32
                          114.3-117.4            3.1        0.34
JW18-46         262.2       38.1-42.7            4.6        0.30
                            48.8-67.1           18.3        0.27
                          115.8-120.4            4.6        0.29
JW18-47         245.4          0-12.2           12.2        0.21
                            65.5-73.1            7.6        0.22
JW18-48         233.8          0-25.9           25.9        0.18
JW18-49         153.9                      no significant assays
   
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 chief geologist, commented: "Each phase of our drill program has been successful in growing the Jasperoid Wash deposit, and it remains open in multiple directions. Core holes JW18-29 and JW18-30 helped us better define important fault and host rock control to target higher gold grades within the north-striking fault corridor. Jasperoid Wash with its down to the west displacement of the Penn-Perm host section is the mirror image of Dark Star and Dixie. A predictive exploration model is emerging, and we have kilometres of untested, altered rock within the Jasperoid Wash and Dark Star corridor."

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's 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. 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 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 content contained in this news release has 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 NI 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 project, located within the prolific Carlin trend. Gold Standard's successful exploration of the Pinion and Dark Star gold deposits has created potential near-term development option and further consolidates the company's premier land package on the Carlin trend.

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