Mr. Jonathan Awde reports
GOLD STANDARD VENTURES REPORTS OPENING UP NEW TARGETS AT DARK STAR, DIXIE AND JASPEROID WASH AT RAILROAD PROJECT
Results from 24 exploration holes have confirmed three high potential targets for resource expansion on Gold Standard Ventures Corp.'s 100-per-cent-owned/controlled Railroad project in Nevada's Carlin trend. Gold Standard's 2017 $15.5-million (U.S.) exploration program includes up to 48,800 metres of reverse circulation (RC) and core drilling in 117 holes (see Feb. 2, 2017, news release).
The 24 initial holes drilled in this year's program were located to validate key prospective targets for further drilling this year. Please visit the company's website to view Dark Star, Dixie and Jasperoid Wash drilling maps.
The 2017 drilling continues to establish the Pennsylvanian-Permian age carbonate rocks as an important gold host on the Carlin trend. Regionally, this highly prospective carbonate host section intersects the Carlin trend in the southern portion of Gold Standard's Railroad property. The gold mineralization at Dark Star, Dixie and Jasperoid Wash targets occurs in these favourable carbonate rocks.
Jonathan Awde, chief executive officer and director of Gold Standard, commented: "These first 24 holes lay the groundwork for the next stage of exploration success at Railroad. At Dixie and Jasperoid Wash, the early results are highly reminiscent of our success at Dark Star, but with the advantage of having already unravelled many of the structural characteristics that account for better grades at Railroad. We are confident that these targets can open up into important discoveries and we are now mobilizing additional drill rigs to pursue them more aggressively. We are also confident that this year's drilling will provide further evidence that the Dark Star and Pinion deposits merge into one larger deposit."
Key highlights
- In the east-central portion of Dark Star, DS17-14 intersected multiple zones of oxidized gold mineralization including 25.9 metres of 0.88 gram per tonne gold. This intercept expands the Dark Star gold zone 140 m to the east beyond the current resource block model.
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To the west of Dark Star, DS17-06 intersected 25.9 m of 1.51 g/t Au approximately 70 m west of the existing Dark Star block model. DS17-06 and DS17-14 confirm the openness and expansion potential of Dark Star.
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Also at Dark Star, core holes DS17-05, DS17-07 and DS17-09 returned 22.7 m of 0.54 g/t Au, 41.2 m of 0.56 g/t Au and 47.6 m of 0.67 g/t Au, respectively. These holes were designed to enhance and upgrade the geological understanding of wide-spaced, historic RC drill holes, to provide material for metallurgical samples within the current block model, and confirm tenor and grade of the block model at these locations.
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At the Dixie target, Gold Standard completed its first six holes into this target within the north-striking Dark Star corridor. Core hole DX17-01 intersected multiple zones of gold mineralization including 25.9 m of 0.76 g/t Au in altered Penn-Perm calcarenite and debris flow conglomerate similar to the Dark Star deposit approximately 3.5 kilometres to the north. The core hole was instrumental in verifying the Penn-Perm carbonate rocks as the host section at Dixie. Also at Dixie, RC holes DX17-03 and DX17-06 intersected 45.7 m of 0.75 g/t Au and 44.2 m of 0.48 g/t Au. These intercepts are reminiscent of early drilling completed by Gold Standard at Dark Star.
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At the new Jasperoid Wash target, which is located approximately six km south of the Pinion deposit, core hole JW17-01 intersected 103.7 m of 0.56 g/t Au, including a higher-grade zone of 30.5 m of 0.93 g/t Au in pervasively oxidized and altered debris flow conglomerate in the favourable Pennsylvanian-Permian host section. The gold intercept is shallow, starting approximately 20 m below the current topographic surface. This core hole twinned JW-9007, a 1990 Westmont reverse circulation drill hole that intersected 117.4 m of 0.51 g/t Au as described in a 1990 Westmont report. JW17-01 confirmed and upgraded the results in JW-9007, and secondly, confirmed that Pennsylvanian-Permian debris flow conglomerate -- the same host as the Dark Star deposit -- also hosts the gold mineralization at Jasperoid Wash.
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Gold Standard is expanding the drill rig count from four to seven rigs, with most of the drilling focused at Dark Star, Jasperoid Wash and Dixie. Drilling will also focus on new targets between Pinion and Dark Star that were identified from two recently completed seismic lines.
Mac Jackson, Gold Standard's vice-president of exploration, stated: "We opened a new chapter of exploration on the Carlin trend with our Dark Star discovery leading to the recognition of the importance of Pennsylvanian-Permian carbonate host rock. Our initial drill tests of these rocks at the Jasperoid Wash and Dixie targets are very encouraging in that we have intersected shallow, Dark Star-like gold zones that remain open. The Jasperoid Wash and Dixie targets are located within the 20,941 gross acres (85 square kilometres) recently acquired by Gold Standard to the south of the Dark Star and Pinion deposits. We continue to drill these targets as well as identify new untested targets, as we progress through this new chapter of exploration for Pennsylvanian-Permian hosted gold deposits on the Carlin trend."
Dark Star, Dixie and Jasperoid Wash drill results are as shown in the table.
RAILROAD DRILL RESULTS
Drill hole Intercept (m) Thickness (m) Grade (g/t Au)
DS17-01 No assays >0.20 g/t Au
DS17-01A 325.6-329.2 3.6 3.39
DS17-02 No assays >0.20 g/t Au
DS17-03 38.1-39.6 1.5 0.22
DS17-04 234.7-257.6 22.9 0.57
DS17-05 42.6-43.4 0.8 2.34
114.9-116.1 1.2 0.21
134.7-137.9 3.2 0.35
142.4-144.7 2.3 0.22
145.9-147.4 1.5 0.34
151.1-173.8 22.7 0.54
DS17-06 76.2-88.4 12.2 0.45
141.7-144.8 3.1 0.58
160.1-186.0 25.9 1.51
Including 163.1-172.2 9.1 2.89
371.9-373.4 1.5 0.63
445.1-448.2 3.1 0.43
452.7-495.4 42.7 0.59
Including 475.6-483.2 7.6 1.69
DS17-07 11.1-12.3 1.2 0.21
38.1-39.6 1.5 0.22
83.5-124.7 41.2 0.56
Including 90.8-108.2 17.4 0.91
DS17-08 128.0-131.1 3.1 0.22
155.5-157.0 1.5 0.24
208.8-234.7 25.9 0.32
239.3-251.5 12.2 0.31
265.2-271.3 6.1 0.29
318.5-321.6 3.1 0.23
326.2-333.8 7.6 0.26
338.4-350.6 12.2 0.55
DS17-09 32.0-34.1 2.1 0.26
50.9-52.7 1.8 0.28
55.8-56.7 0.9 0.21
72.5-83.2 10.7 0.24
86.2-109.1 22.9 0.34
112.0-120.1 8.1 0.28
130.6-144.2 13.6 0.26
148.1-195.7 47.6 0.67
Including 191.1-194.2 3.1 3.04
DS17-10 207.3-211.9 4.6 0.28
250.0-279.0 29.0 0.76
Including 259.1-266.7 7.6 1.28
285.1-306.4 21.3 1.01
Including 288.1-291.2 3.1 2.48
Including 301.8-304.9 3.1 2.85
311.9-314.0 3.1 0.44
DS17-11 No assays >0.20 g/t Au
DS17-12 No assays >0.20 g/t Au
DS17-13 No assays >0.20 g/t Au
DS17-14 79.2-89.9 10.7 0.24
106.7-108.2 1.5 0.23
114.3-126.5 12.2 0.24
137.2-163.1 25.9 0.88
Including 150.9-161.6 10.7 1.44
DS17-15 No assays >0.20 g/t Au
DS17-16 No assays >0.20 g/t Au
DX17-01 64.6-67.0 2.4 0.20
107.0-111.6 4.6 0.29
123.0-127.4 4.4 0.57
147.6-173.5 25.9 0.76
Including 160.9-165.8 4.9 1.32
DX17-02 205.8-211.9 6.1 0.23
228.7-237.8 9.1 0.45
DX17-03 112.8-158.5 45.7 0.75
Including 143.3-150.9 7.6 1.32
164.6-173.7 9.1 0.43
DX17-04 312.5-314.0 1.5 0.24
346.0-355.1 9.1 0.23
DX17-05 117.4-132.6 15.2 0.21
169.2-172.3 3.1 0.30
189.0-196.6 7.6 0.39
309.4-314.0 4.6 0.34
DX17-06 61.0-62.5 1.5 0.39
67.1-111.3 44.2 0.48
JW17-01 16.2-17.7 1.5 0.19
26.2-129.9 103.7 0.56
Including 60.7-68.3 7.6 1.32
Including 60.7-91.2 30.5 0.93
133.7-139.6 5.9 0.25
144.7-149.1 4.4 0.25
220.7-223.8 3.1 0.26
228.4-232.3 3.9 0.24
* Gold intervals reported in this table were calculated using a
0.20 g/t Au cut-off (Dark Star and Dixie) or a 0.14 g/t Au cut-off
(Jasperoid Wash). Weighted averaging has been used to calculate all
reported intervals. True widths are estimated at 70 to 90 per cent
of drilled thicknesses. Sampling methodology, chain of custody, quality assurance/quality control
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. Core was cut at the company's facility in Elko and one-quarter was sent to the lab for analysis, and the remaining material retained in the original core box. A blank or certified reference material was inserted approximately every 10th sample. The core and RC samples were delivered to either the ALS Minerals or Bureau Veritas Mineral Laboratories preparation facility in Elko, Nev., where they were crushed and pulverized. Resulting sample pulps were shipped to either the ALS Minerals or 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. 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 down hole surveys that were completed on all holes by International Directional Services of Elko, Nev. Final 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 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 Dark Star deposit, 2.1 kilometres to the east of Pinion, now has a National Instrument 43-101-compliant resource estimate consisting of an indicated mineral resource of 15.38 million tonnes grading 0.54 gram per tonne gold, totalling 265,100 ounces of gold, and an inferred resource of 17.05 million tonnes grading 1.31 g/t Au, totalling 715,800 ounces of gold, using a cut-off grade of 0.20 g/t Au. The Pinion deposit has an NI 43-101-compliant resource estimate consisting of an indicated mineral resource of 31.61 million tonnes grading 0.62 g/t Au, totalling 630,300 ounces of gold, and an inferred 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 (announced March 15, 2016).
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