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Gold Standard Expands Near Surface Oxide Mineralization at the LT Discovery Located Three Kilometers From South Railroad Project

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Gold Standard Expands Near Surface Oxide Mineralization at the LT Discovery Located Three Kilometers From South Railroad Project

 

 

 

 

 

Results include an intercept of 40 meters of 0.76 g Au/t oxide mineralization right at surface

 

Gold Standard Ventures Corp. (NYSE AMERICAN: GSV) (TSX: GSV) announced significant confidence in its new LT discovery from five reverse circulation drill holes at LT as part of its 2021 Exploration and Development Program (see press release dated May 20, 2021). The LT discovery is located three kilometers to the northwest of the South Railroad Project.

 

(https://goldstandardv.com/site/assets/files/6138/lt-drill-map-and-cross-section.pdf)

 

Key Highlights:

 

  • LT is located 3km from South Railroad Project and is a testament to the new geological team’s interpretation of the significant historical exploration data set.
  • LT21-02 intersected an interval of 39.6m of 0.76 g Au/t oxidized gold mineralization starting from surface, including 7.6m of 1.96 Au/t.
  • All five of the RC drill holes returned gold assays that started at or near surface.
  • The 2021 program is a follow up of the significant intercepts from the 2020 LT program which included 30.5m of 0.78 g Au/t in hole LT20-08; 24.3m of 0.73 g Au/t in LT20-01; and 15.2m of 0.96 g Au/t in LT20-02.
  • Drilling returned higher gold grades and thickness than adjacent historical drill holes, and suggests mineralization is open to the north and east.

 

Jason Attew, President and CEO, commented, “The expansion of mineralization at LT located just 3 kilometers from the South Railroad Project is the first of hopefully many successes from our new geological team and demonstrates the prospectivity of the Carlin Trend. With the second largest land package in the Carlin Trend next to Nevada Gold Mines, one of our near-term goals is to delineate a third economic oxide deposit to support further mine life extensions at South Railroad.”

 

Richard Yancey, Geology Manager, further commented, “The expansion of mineralization at-surface at LT is a product of many hours of reinterpretation of a comprehensive geological dataset that the new team inherited prior to approving the drill program for this year’s field season. Further testing of this exciting discovery will be a priority of our 2022 exploration program.”

 

Other Highlights:

 

  • LT target mineralization is hosted in the multi-lithic breccia and Devil’s Gate limestone.
  • Mineralization and breccia formation is controlled by a north-south fault zone that is within the same mineralization corridor as Pinion to the south.

 

 

LT Drill Results:

 

Drill Hole Method Azimuth Incl. TD (m) Intercept (m) Thickness (m) Grade (g Au/t)
LT21-01 RC 100 -55 182.9 0-1.5 1.5 0.41
LT21-02 RC 5 -55 121.9 0-39.6 39.6 0.76
including   18.3-25.9 7.6 1.96
LT21-03 RC 90 -55 91.4 24.4-29.0 4.6 1.25
LT21-04 RC 90 -55 91.4 0-1.5 1.5 0.22
LT21-05 RC 90 -70 153.9 0-1.5 1.5 0.41
and   10.7-12.2 1.5 0.37
       

 

Note: 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.

 

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

 

All Gold Standard sampling was conducted under the supervision of the Company’s senior 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. Samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in either Sparks, NV or Hermosillo, Mexico where they were crushed and pulverized. Resulting sample pulps were 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 were determined by ICP in Vancouver, B.C. Data verification of the analytical results included 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 drill collar locations are surveyed by differential GPS by Apex Surveying, LLC of Spring Creek, Nevada.

 

All third party laboratories and service providers used or retained in the analysis of the samples are independent of Gold Standard.

 

Qualified Persons

 

Richard Yancey, Geology Manager, is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.

 

About Gold Standard

 

Gold Standard is developing the South Railroad Project, an open pit, heap leach gold project located in Elko County, Nevada. The project is part of a +21,000 hectare land package on the Carlin Trend, and is 100% owned or controlled by Gold Standard. The goal of the Company is to become the low-cost junior producer of choice in Nevada, one of the premier mining jurisdictions in the world.

 

Posted November 8, 2021

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