Gold Standard Ventures Corp. (TSX: GSV) (NYSE AMERICAN: GSV) today reported results from 25 reverse-circulation and 2 core holes at the Dark Star deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. Two holes in the northern portion of Dark Star intersected impressive grades and thicknesses: 229.8m of 2.08 g Au/t and 56.4m of 2.94 g Au/t. These results confirm oxide gold resource expansion potential in the footwall of the Ridgeline fault, and continuity to higher-grade mineralization in the hanging wall of the Ridgeline fault.
To date 23,498m of infill, step-out and geotechnical drilling have been completed in 129 RC and core holes at Dark Star (refer to Dark Star drill hole plan map at the following link – https://goldstandardv.com/lp/ds-aug23-2018-drill-maps/). Results from 27 Dark Star holes are summarized below, and with this news release, results have now been reported for 107 of the 129 holes that have been completed.
Jonathan Awde, CEO and Director of Gold Standard commented: “Dark Star continues to surprise us to the upside with several new targets emerging in the northern portion of the deposit. The high-grade feeder structures in this deposit are far more extensive than previously thought and structural limits to the mineralization we originally assumed have proved not to be limits at all. The continuity of the oxidized gold values overall, the thickness of the intervals containing exceptional grade and the near-surface accessibility of the material make Dark Star a potential stand-out among Carlin deposits. We think that an upcoming Preliminary Economic Assessment of Dark Star is likely to have a substantial impact on perceptions of shareholder value.”
Key Highlights from Dark Star:
Dark Star drill results are as follows:
|Drill Hole||Method||Azimuth||Incl.||TD (m)||Intercept (m)||Thickness (m)||Grade (g Au/t)|
|DR18-84||RC||90||-58||57.9||Hole lost before testing target|
|DC18-04||Core||275||-75||277.4||Geotechnical hole – assays pending|
|DC18-06||Core||40||-65||259.1||Geotechnical hole – assays pending|
|DC18-08||Core||130||-65||231.6||Geotechnical hole – assays pending|
|DC18-10||Core||290||-65||198.1||Geotechnical hole – assays pending|
|DC18-12||Core||205||-65||232.9||Geotechnical hole – assays pending|
|DC18-14||Core||110||-80||188.5||Geotechnical hole – assays pending|
Gold intervals reported in this table were calculated using a 0.14 g Au/t cutoff. 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 Senior Development Geologist commented: “Prior to the development drilling program Dark Star had a NI43-101 compliant resource estimate consisting of 15.38 million tonnes grading 0.54 g Au/t (Indicated) and 17.05 million tonnes grading 1.31 g Au/t (Inferred) at a cutoff grade of 0.20 g Au/t. In addition, Dark Star column recoveries from -12.5mm size material averaged 86.5% gold for oxide and 70% gold for transitional material (October 25, 2017 press release), confirming that Dark Star is a candidate for heap leach processing. The goal of the development program is the conversion of the majority of the inferred resource to measured and indicated, as well as growth of the overall resource. With drilling completed, the model update is currently in progress and will be reported as part of the South Railroad Project PEA. As a comparison to local operations, the Emigrant Mine immediately to the north of Dark Star (16km) is successfully operating on a drill-defined resource of 88 million tonnes grading 0.48 g Au/t, with an expected gold recovery of 50-60%.”
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 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 (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 analysis. 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.
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 district scale discoveries on its Railroad-Pinion 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 has a resource estimate prepared in accordance with NI 43-101 consisting of an Indicated Mineral Resource of 31.61 million tonnes grading 0.62 g/t 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. The Dark Star deposit, 2.1 km to the east of Pinion, has a 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, totaling 265,100 ounces of gold and an Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.2 g Au/t. The North Bullion deposit, 7 km to the north of Pinion, has a 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 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.
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