Mr. Jonathan Awde reports
GOLD STANDARD INITIATES DRILLING AT ITS PINION OXIDE GOLD DEPOSIT IN NEVADA'S CARLIN TREND
Gold Standard Ventures Corp. has commenced drilling at the company's Pinion project with one reverse circulation and one core rig. The phase 1 program consists of 13 vertical drill holes designed to confirm and verify historic drill results in the Pinion North and Main zones, test the predictability of the new geological model, and collect material for density and metallurgical testing in advance of an initial National Instrument 43-101 resource estimation. Drilling, estimated at 2,100 metres, is expected to be completed before the end of June.
Nine reverse circulation drill holes totalling about 1,500 metres and four core holes totalling about 600 metres are planned for phase 1 drilling at Pinion. These proposed holes are summarized below:
- Core A and core B will test for vertical extensions to mineralization in
favourable stratigraphy and structure beneath existing holes which
bottomed in gold. At these locations, historic drilling ended in
Chainman formation sandstone, stratigraphically above the favourable
collapse breccia host.
- Core C and core D are designed to twin and verify existing gold
intercepts in historic reverse circulation holes, test the lower limits
of gold mineralization and confirm geology.
- RC-1 is designed to expand the collapse breccia hosted mineralization to
the west of the Main zone.
- RC-2, RC-3, RC-4, RC-5, RC-6, RC-8 and RC-9 are designed to expand the
collapse breccia hosted mineralization between the Main and North zones,
in areas of wider-spaced historic drilling. Sites RC-8 and RC-9 are
positioned along fault zones identified during recent relogging and
cross-sectional interpretation of geology.
- RC-7 is designed to expand the collapse breccia hosted mineralization to
the east of the North zone.
The phase 1 drilling is a limited program but will allow for a systematic buildup of the geologic model and resource, with a more substantial phase 2 planned for the second half of 2014. At Pinion, gold is hosted in an oxidized, flat to gently dipping, dissolution collapse breccia. Lateral extent and continuity of gold mineralization are excellent due to the channelling of the gold system within highly permeable collapse breccia sandwiched between relatively impermeable, silty micrite of the overlying Mississippian Tripon Pass formation and thick-bedded calcarenite of the underlying Devonian Devil's Gate formation. Previously unrecognized intrusive rocks occur within the deposit and indicate the presence of important deep-seated, through-going conduits.
Gold Standard's president and chief executive officer Jonathan Awde stated: "We have a high degree of confidence that the current drill program will enable us to report a resource which conforms to the standards of NI 43-101. This is an important development for Gold Standard because it will enable the market to begin valuing the Pinion asset in the context of comparable deposits."
The scientific and technical content and interpretations contained in this news release have 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 National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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