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Gold Standard Ventures Corp
Symbol C : GSV
Shares Issued 254,254,777
Close 2018-06-05 C$ 1.99
Recent Sedar Documents

Gold Standard drills 118.9 m of 0.43 g/t Au at Railroad

2018-06-06 07:01 ET - News Release

Mr. Jonathan Awde reports

GOLD STANDARD REPORTS ADDITIONAL INFILL DRILLING SUCCESS AT THE PINION OXIDE GOLD DEPOSIT, CARLIN TREND, NEVADA

Gold Standard Ventures Corp. has completed the 2018 infill drilling program at the Pinion oxide gold deposit on its 100-per-cent-owned/controlled Railroad-Pinion project in Nevada's Carlin trend. The infill and geotechnical program included 13,111 metres of drilling in 127 holes. Results from another 43 Pinion holes are summarized in the table.

Key highlights from Pinion:

  • On the southwest side of Pinion, seven RC holes (PR18-92, -93, -95, -96, -97, -98 and -99) returned near-surface intercepts that are higher grade than predicted by the resource model and outside the current highwall of the resource pit. Intercepts include 12.2 metres of 1.14 grams per tonne gold in PR18-97; 15.2 m of 1.42 g/t Au, including 6.1 m of 3.18 g/t Au in PR18-98; and 12.2 m of 0.79 g/t Au in PR18-99. These intercepts are stepouts to the north and west from PR18-52 (22.9 m of 1.17 g/t Au, including 12.2 m of 1.73 g/t Au); PR18-29 (32.0 m of 0.68 g/t Au, including 10.7 m of 1.38 g/t Au); and PR18-42 (22.9 m of 0.53 g/t Au) (see May 8, 2018, news release). Collectively, these southwest Pinion drill intercepts suggest near-surface, oxide resource expansion potential exists to the south and west of the deposit, where mineralization remains open.
  • On the east side of Pinion, PR18-72 intersected 50.3 m of 0.48 g/t Au; PR18-73 intersected 19.8 m of 0.62 g/t Au; PR18-74 intersected 77.7 m of 0.54 g/t Au, including 9.1 m of 1.90 g/t Au and 6.1 m of 1.36 g/t Au; and PR18-76 intersected 16.8 m of 1.27 g/t Au, including 4.6 m of 3.84 g/t Au. These oxide intercepts are hosted within a thicker portion of the multilithic host horizon and extend mineralization below the current resource model.
  • Also, on the east side of Pinion, PR18-78 intersected 56.4 m of 0.69 g/t Au, including 6.1 m of 1.42 g/t Au; PR18-84 intersected 118.3 m of 0.43 g/t Au, including 12.2 m of 1.28 g/t Au; and PR18-85 intersected 86.9 m of 0.50 g/t Au, including 24.4 m of 1.05 g/t Au. These intercepts are thicker and higher grade than predicted by the resource model and are located immediately behind the current highwall of the resource pit.
  • Drill holes PR18-72, -73, -74, -76, -78, -84 and -85 established continuity of mineralization at depth and to the east, in addition to confirming a thicker multilithic breccia host section than predicted by the resource model. These holes suggest resource expansion potential exists to the east of the deposit.

Jonathan Awde, chief executive officer and director of Gold Standard, commented: "The Pinion development drill program has certainly more than met our expectations when it comes to resource confirmation. The next resource estimate later this year should report a higher grade as well as upgrading inferred material to measured and indicated. The unexpected bonus is that these latest 43 holes have confirmed that the deposit also remains open near surface to the west, south and east. It is clear to us that the Pinion deposit will continue to grow beyond this year."

This year's $25.8-million (U.S.) program includes an estimated 74,800 m of RC and core drilling in 381 holes (see Feb. 26, 2018, news release). Of this amount, Dark Star and Pinion infill drilling is expected to account for approximately 40,800 m in 296 holes while exploration should add another 34,000 m of drilling in 85 holes. The current status of this work is as follows:

  • Twenty-two RC holes and one core hole totalling 4,113 m have been completed at Jasperoid Wash where a new oxide gold deposit was discovered in 2017. Drilling this year will reduce spacings and provide the requisite data for a maiden resource estimate by the end of 2018. Assay results are pending for all 2018 drill holes.
  • One hundred fifty-six infill and development drill holes, totalling 18,038 m, have been completed at the Dark Star and Pinion oxide gold deposits. With this news release, results have now been reported for 128 of the 156 holes that have been completed. Approximately 140 drill holes remain as part of the Dark Star development program. Geotechnical characterization studies are under way at Dark Star and Pinion to determine the pit slope angles appropriate for the project.
  • Also on the exploration front, eight RC scout holes, totalling 3,626 m, have been completed on new exploration targets west of Dixie and west of the Dark Star deposit, for which assays results are awaited.

Pinion drill results are as shown in the table.

                               HIGHLIGHTS

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

PR18-31                  0-13.7              13.7              0.71
Including              7.6-13.7               6.1              1.14
PR18-32                4.6-22.9              18.3              0.60
                      62.5-70.1               7.6              1.14
PR18-33                   0-3.1               3.1              0.24
PR18-34                    No assays >0.14 g/t Au
PR18-35                    No assays >0.14 g/t Au
PR18-36                3.1-21.3              18.2              0.25
PR18-37               15.2-18.3               3.1              0.16
PR18-38
PR18-39               19.8-25.9               6.1              1.03
PR18-67                    No assays >0.14 g/t Au
PR18-68             111.3-144.8              33.5              0.59
Including           120.4-128.0               7.6              1.02
PR18-69                7.6-35.0              27.4              0.29
                      47.2-51.8               4.6              0.34
PR18-70                   0-9.1               9.1              0.25
                      16.8-22.9               6.1              0.18
                      30.5-39.6               9.1              0.15
                      51.8-54.9               3.1              0.40
PR18-71             115.8-173.8              58.0              0.44
Including           128.0-132.6               4.6              1.39
PR18-72             140.2-190.5              50.3              0.48
                    210.3-214.9               4.6              0.27
                    222.6-243.9              21.3              0.29
PR18-73             138.7-158.5              19.8              0.62
                    198.2-225.6              27.4              0.34
PR18-74             129.6-207.3              77.7              0.54
Including           134.2-143.3               9.1              1.90
Including           152.4-158.5               6.1              1.36
PR18-75             143.3-147.9               4.6              0.45
                    154.0-192.1              38.1              0.38
PR18-76             164.6-179.8              15.2              0.33
Including           187.5-204.3              16.8              1.27
                    189.0-193.6               4.6              3.84
PR18-77             141.7-190.5              48.8              0.56
PR18-78               48.8-54.9               6.1              0.23
                      70.1-71.6               1.5              1.82
                    108.2-120.4              12.2              0.21
                    181.4-237.8              56.4              0.69
Including           199.7-205.8               6.1              1.42
                    224.1-234.8              10.7              1.02
PR18-79              89.9-118.9              29.0              0.62
                     89.9-102.1              12.2              1.06
PR18-80               80.7-88.4              10.7              1.07
PR18-81               10.7-47.3              36.6              0.65
                      53.4-54.9               1.5              0.21
                      59.5-61.0               1.5              0.30
PR18-82               41.2-59.5              18.3              0.26
                      71.6-73.1               1.5              0.27
PR18-83             100.6-109.7               9.1              0.43
PR18-84             105.2-224.1             118.9              0.43
Including           117.4-129.6              12.2              1.28
PR18-85              82.3-169.2              86.9              0.50
Including            82.3-106.7              24.4              1.05
PR18-86                   0-1.5               1.5              0.41
Including             41.1-51.8              10.7              1.43
                      42.7-47.3               4.6              2.51
PR18-87               35.1-42.7               7.6              1.28
PR18-88                3.1-35.1              32.0              0.46
PR18-89               10.7-16.8               6.1              0.21
                      35.1-41.2               6.1              0.45
                      54.8-59.4               4.6              0.29
PR18-90                  0-22.9              22.9              0.65
Including             10.7-16.8               6.1              1.77
PR18-91               62.5-70.1               7.6              0.99
PR18-92               62.5-88.4              25.9              0.46
PR18-93                   0-3.1               3.1              0.25
                      39.6-48.7               9.1              0.55
                      54.9-67.1              12.2              0.48
PR18-94                    No assays >0.14 g/t Au
PR18-95                   0-4.6               4.6              0.16
                      51.8-57.9               6.1              0.72
PR18-96                   0-3.1               3.1              0.24
                      44.2-47.3               3.1              0.74
                      59.5-68.6               9.1              0.61
PR18-97               65.5-77.7              12.2              1.14
Including             65.5-71.6               6.1              2.12
PR18-98                   0-3.1               3.1              0.66
Including             36.6-51.8              15.2              1.42
                      39.6-45.7               6.1              3.18
PR18-99                   0-3.1               3.1              0.31
                      30.5-42.7              12.2              0.79
PR18-100              51.8-80.8              29.0              0.46
Including             70.1-76.2               6.1              1.14

Gold intervals reported in this 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.

Don Harris, Gold Standard's senior development geologist, stated: "Thinking beyond the PEA currently in progress, the completion of the Pinion program reduced drill spacing on the project to 30 m. This will be a key driver in moving the resource to measured and indicated status for prefeasibility studies planned in 2019. At present assays remain outstanding on metallurgical core drilling (27 holes) at Pinion. Material from these holes will be used to further the metallurgical studies on the project, including high-pressure grind roll crushing currently under review. Initial results suggest positive impacts to the recovery aspects of the Pinion project."

Sampling methodology, chain of custody, quality assurance and 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. 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.

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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