Exploration holes intersect 30.5m of 0.78 g Au/t, including 7.6m of 1.58 g Au/t and 24.3m of 0.73 g Au/t, including 6.1m of 1.26 g Au/t; Surface channel sample results include 24.0m of 0.97 g Au/t and 12.0m of 7.05 g Au/t
Gold Standard Ventures Corp. (TSX: GSV) (NYSE AMERICAN: GSV) reported that 10 exploration reverse-circulation holes drilled at the LT oxide gold discovery have confirmed its potential to make an important contribution to feasibility mine plans at Gold Standard’s 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend (see attached drill hole location map: LT Drill Hole Location Map 10/29/2020 and significant drill hole summary: LT Significant Intercept Table 10/29/2020). Objectives of the drilling included testing structural and stratigraphic targets to the north and south of LT19-02, a 2019 RC hole that intersected 12.2m of 1.58 g Au/t (see November 12, 2019 news release).
A planned total of 1,324.4m of drilling in 10 RC holes has been completed year to date. Oxide results include 30.5m of 0.78 g Au/t, including 7.6m of 1.58 g Au/t in hole LT20-08; 24.3m of 0.73 g Au/t, including 6.1m of 1.26 g Au/t in LT20-01; 15.2m of 0.96 g Au/t in LT20-02; and 30.5m of 0.39 g Au/t in LT20-03. These oxide intercepts begin at or close to the current topographic surface, they establish strike and downdip continuity to mineralization and are open in multiple directions.
Jonathan Awde, CEO and Director of Gold Standard commented: “The LT target is opening up into a valuable deposit which has the potential to add oxide resources to our Feasibility mine plans now in progress. These results also demonstrate that while Railroad-Pinion is in an advanced stage of development, it continues to offer exceptional near-surface oxide exploration opportunities.”
Key Highlights from LT:
LT drill results are as follows:
Drill Hole | Method | Azimuth | Incl. | TD (m) | Intercept (m) | Thickness (m) | Grade (g Au/t) |
LT20-01 | RC | 090 | -70 | 172.2 | 0-24.3 | 24.3 | 0.73 |
Including | 18.3-24.4 | 6.1 | 1.26 | ||||
LT20-02 | RC | 090 | -55 | 100.6 | 0-15.2 | 15.2 | 0.96 |
LT20-03 | RC | 090 | -70 | 184.4 | 29.0-59.5 | 30.5 | 0.39 |
LT20-04 | RC | 090 | -55 | 91.4 | No assays >0.14 g Au/t | ||
LT20-05 | RC | 090 | -70 | 33.5 | 10.7-12.2 | 1.5 | 0.17 |
LT20-06 | RC | 090 | -55 | 91.4 | 0-4.6 | 4.6 | 0.27 |
60.9-64.0 | 3.1 | 0.19 | |||||
LT20-07 | RC | 090 | -70 | 153.9 | 7.6-13.7 | 6.1 | 0.15 |
LT20-08 | RC | 050 | -55 | 178.3 | 0-30.5 | 30.5 | 0.78 |
Including | 12.2-19.8 | 7.6 | 1.58 | ||||
LT20-09 | RC | 065 | -55 | 152.4 | 0-1.5 | 1.5 | 0.54 |
LT20-10 | RC | 090 | -70 | 166.1 | No assays >0.14 g Au/t |
Gold intervals reported in this table were calculated using a 0.14 g Au/t cutoff for oxide mineralization. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 70-90% of drilled thicknesses.
Don Harris, Gold Standard’s General Manager commented: “The Gold Standard Ventures exploration team focus has been to explore for oxide gold deposits on the greater Railroad-Pinion land holdings that will add value to the current prefeasibility study mine plan. LT was elevated to a high priority target based on select high grade (4.5-12.9 g Au/t) rock chip results in late 2018 and initial drilling in 2019 (12.2m of 1.58 g Au/t in LT19-02). The 2020 drilling and surface channel sampling confirms that LT is a developing project, with the right characteristics of lateral continuity, oxide cyanide solubility assays, and proximity to the Pinion deposit. As presently defined, the LT deposit is located approximately 3 km north northwest of the Pinion oxide gold reserve and has potential to add to the overall gold reserve plan in the long term. The team is excited about the project and will continue further exploration in 2021.”
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 tenth sample. The samples were shipped to Paragon Geochemical’s certified laboratory in Sparks, NV where they were crushed and pulverized. Resulting sample pulps were digested and analyzed for gold using fire assay fusion and an ICP-OES 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, blanks and duplicates 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 drill collar locations are surveyed by differential GPS by Apex Surveying, LLC of Spring Creek, Nevada.
The scientific and technical content 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 building value in a safe, responsible, sustainable, and ethical manner by leveraging its strategic, cornerstone land package in Nevada’s Carlin Trend. Gold Standard intends to advance its South Railroad Project through permitting and a feasibility study towards a potential production decision. Gold Standard intends to augment this goal by advancing exploration that contributes value to the South Railroad Project.
The Pinion deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an Measured and Indicated Mineral Resource of 28.93 million tonnes grading 0.58 g/t Au and 4.22 g/t Ag, totaling 544,000 ounces of gold and 3,929,000 ounces of silver, and an Inferred Mineral Resource of 10.81 million tonnes grading 0.64 g/t Au and 3.80 g/t Ag, totaling 224,000 ounces of gold and 1,322,000 ounces of silver, using a cut-off grade of 0.14 g/t Au and constrained by a $1,500/Au ounce LG Cone.
The Dark Star deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of a Measured and Indicated Mineral Resource of 32.72 million tonnes grading 0.88 g/t Au, totaling 921,000 ounces of gold and an Inferred Mineral Resource of 2.48 million tonnes grading 0.70 g/t Au, totaling 56,000 ounces of gold, using a cut-off grade of 0.14 g Au/t and constrained by a $1,500/Au ounce LG Cone.
The North Bullion deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an Indicated Mineral Resource of 2.92 million tonnes grading 0.96 g/t Au, totaling 90,100 ounces of gold and an Inferred Mineral Resource of 10.97 million tonnes grading 2.28 g/t Au, totaling 805,800 ounces of gold, using a cut-off grade of 0.14 g Au/t for near surface oxide and 1.25 to 2.25 g Au/t for near surface sulfide and underground sulfide respectively.
The Jasperoid Wash deposit has a mineral resource estimate prepared in accordance with NI 43-101 consisting of an Inferred Mineral Resource of 10.57 million tonnes grading 0.33 g/t Au, totaling 111,000 ounces of gold, using a cut-off grade of 0.14 g Au/t and constrained by a $1,500/Au ounces LG Cone.
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