Gold Standard Ventures Corp. (TSX-V:GSV) (NYSE MKT:GSV) today announced plans for the 2017 exploration program on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. The US$15.5 million program includes up to 48,800 m of reverse-circulation and core drilling in a total of 117 holes.
The 2017 program objectives are: (1) aggressive drilling at the North Dark Star oxide gold discovery to follow up 2016 successes; (2) drilling to expand known resources at Dark Star and Pinion; and (3) drilling to test new high-value targets within the Dark Star Corridor, North Bullion and elsewhere within the Railroad-Pinion District. The budget also includes an extensive pre-development component including new resource estimates, further metallurgical work and economic studies to de-risk key assets. Funding for this program was obtained in a private placement financing dated October 28, 2016.
Jonathan Awde, CEO and Director of Gold Standard commented: “Railroad-Pinion has now become a truly district-scale play with multiple deposits of different types. Each year, we set out to find the limits of the gold systems we have discovered and each year we end up with new opportunities that exceed our expectations. We think 2017 will be no different. We believe we have found the right balance between expanding and advancing resources at known deposits and continuing to evaluate the many new targets that have emerged over the past year. This should be a very exciting next few months.”
Key Highlights for 2017 include:
Early Stage District Exploration
Mac Jackson, Gold Standard’s Vice President of Exploration stated: “This aggressive 2017 exploration program will follow up on our great success in 2016 by continuing to expand our oxide gold resources at Pinion and Dark Star, and offsetting open high-grade gold intercepts at North Bullion. We will also complete our folio-style, detailed geologic work to define and test new targets throughout our large land position, including targets along the Dark Star corridor, Ski Track corridor and Pinion thrust (a newly recognized geologic connection between Pinion and Dark Star). With this well-funded, systematic exploration program in place, we are looking forward to our next big discovery in the Railroad-Pinion district.”
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. 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 tenth sample. Dark Star samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, NV where they were crushed and pulverized. Resulting sample pulps were shipped to Bureau Veritas certified laboratory in Sparks, NV or Vancouver, BC. Pulps were digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy finish on a 30 gram split. Over limit gold assays were determined using a fire assay fusion with a gravimetric finish on a 30 gram split. Pinion and North Bullion samples were delivered to ALS Minerals preparation facility in Elko, NV where they were crushed and pulverized. Resulting sample pulps were shipped to ALS Minerals certified laboratory in Sparks, NV or Vancouver, BC. Pulps are digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30 gram split. Over limit gold assays were determined using a fire assay fusion with a gravimetric finish on a 30 gram split. All other elements are determined by ICP analysis. Data verification of the analytical results includes 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 down hole surveys that were completed on all holes by International Directional Services of Elko, NV. Final collar locations are surveyed by differential GPS by Apex Surveying, LLC of Spring Creek, Nevada.
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 NI 43-101, Standards of Disclosure for Mineral Projects.
ABOUT GOLD STANDARD VENTURES
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 consolidates the Company’s premier land package on the Carlin Trend. The Pinion deposit now has an NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 31.61 million tonnes grading 0.62 grams per tonne (g/t) gold (Au), totaling 630,300 ounces of gold and an Inferred Resource of 61.08 million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 15, 2016). The Dark Star deposit, 2.1 km to the east of Pinion, has a NI43-101 compliant resource estimate consisting of an Inferred Resource of 23.11 million tonnes grading 0.51 g/t Au, totaling 375,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 3, 2015). The 2014 and 2015 definition and expansion of these two shallow, oxide deposits demonstrates their growth potential.
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