Holes include oxidized intercepts of 19.8m of 0.44g Au/t; 21.3m of 0.38g Au/t and 4.6m of 2.79g Au/t
VANCOUVER, BRITISH COLUMBIA–(Jan. 22, 2015) - Gold Standard Ventures Corp. ($GSV:CA) (GSV) (“Gold Standard” or the “Company”) today announced assay results of eight reverse-circulation (RC) holes from the northern portion of the Pinion Phase 2 drilling program at its 100%-owned Railroad-Pinion Project on Nevada’s Carlin Trend. All eight holes returned intercepts with gold values above the 0.14 grams per tonne (g Au/t) cut-off grade established by APEX Geoscience Ltd. of Edmonton, Canada in its NI 43-101 resource estimate announced on September 10, 2014 (see news release), with intercepts up to 19.8 meters of 0.44 g Au/t in hole PIN14-24.
Phase 2 drilling was designed to extend areas of known shallow oxide gold mineralization along strike and at depth, and to test new targets identified by the Phase 1 program. Phase 2 (now completed) included 10,893m of RC drilling in 44 holes (click the following link for a Pinion Phase 2 drill hole map and cross section: http://goldstandardv.com/pinion-phase-3a/). Assays are pending for 11 more holes including PIN14-43 and -44, PIN14-48 and -49, and PIN14-51 through -57.
- Inclined RC drilling targeted two separate breccia hosts, a relatively stratiform dissolution collapse breccia at the top of the Devil’s Gate limestone and a fault breccia along the Bullion Fault Corridor. These breccia targets were tested down-dip from continuous rock chip channel samples of 130.8m of 0.35 g Au/t; 14.0m of 0.38 g Au/t; 9.5m of 0.331 g Au/t; 6.1m of 0.16 g Au/t; 6.1 m of 0.21 g Au/t; 3.1m of 0.35 g Au/t; 2.4m of 0.56 g Au/t (see October 15, 2014 news release). Prior to the GSV drilling, this target area was characterized by historic holes spaced 30 to 150m apart. The host breccias were intersected in all eight holes along a 430m north-south strike length, demonstrating that surface sampling can be successfully pursued by drilling. Mineralization remains open to the north along strike, down-dip to the east, and to the west.
- PIN14-24 returned five at- or near-surface, oxidized gold zones including 19.8m of 0.44 g Au/t and 12.2m of 0.34 g Au/t. Oxidized mineralization is hosted within quartz veined and brecciated Chainman Formation sandstone and mudstone, and fills a gap in the 3D block model. Intercepts in this hole extended the north margin on the north Pinion gold zone.
- PIN14-32 intersected 21.3m of 0.38 g Au/t at the fault contact between Webb Formation mudstone and Nevada Formation dolomite. Oxidized mineralization is associated with quartz veins, silicification, hematite and fault breccia.
- PIN14-35 intersected four zones of gold mineralization including a higher-grade gold zone of 4.6m of 2.79 g Au/t within oxidized and silicified fault breccia. This gold zone is immediately below a clay-altered quartz-feldspar porphyry dike, within the Bullion Fault Corridor.
- Continuous rock chip channel samples, collected along newly constructed drill access roads between PIN14-29 and -45, returned a composite interval of 15.2m of 0.34 g Au/t in oxidized, decalcified and silicified breccia. Sample intervals were 3.1m with individual sample values ranging from 0.20 to 0.50 g Au/t. The interval is open on both ends as the channel samples were limited to exposed breccia. This new area represents a further target for resource expansion in the next phase of drilling.
Drill results are as follows:
|PIN14-24||RC||-60||254||214.9||0 – 19.8||19.8||0.44|
|30.5 – 51.8||21.3||0.20|
|59.5 – 71.7||12.2||0.34|
|79.3 – 97.6||18.3||0.17|
|125.0 – 132.6||7.6||0.22|
|PIN14-29||RC||-60||254||158.5||65.5 – 85.3||19.8||0.21|
|88.4 – 93.0||4.6||0.19|
|PIN14-32||RC||-45||285||158.5||67.1 – 88.4||21.3||0.38|
|115.8 – 118.9||3.1||0.30|
|PIN14-35||RC||-75||285||245.4||86.9 – 91.5||4.6||2.79|
|96.0 – 97.5||1.5||0.16|
|105.2 – 114.3||9.1||0.15|
|117.4 – 118.9||1.5||0.19|
|PIN14-39||RC||-45||315||192.1||108.2 – 109.7||1.5||0.16|
|123.5 – 125.0||1.5||0.15|
|137.2 – 157.0||19.8||0.26|
|PIN14-41||RC||-45||318||141.8||15.2 – 25.9||10.7||0.24|
|30.5 – 61.0||30.5||0.25|
|65.5 – 70.1||4.6||0.18|
|96.0 – 105.1||9.1||0.27|
|PIN14-45||RC||-45||295||225.6||21.3 – 25.9||4.6||0.24|
|33.5 – 41.1||7.6||0.36|
|44.2 – 48.8||4.6||0.31|
|53.3 – 56.4||3.1||0.17|
|65.5 – 88.4||22.9||0.24|
|PIN14-46||RC||-80||280||205.8||48.7 – 51.8||3.1||0.16|
|65.5 – 71.6||6.1||0.16|
|76.2 – 82.3||6.1||0.16|
|85.4 – 105.2||19.8||0.15|
|** 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 70-95% of drilled thicknesses.|
Mac Jackson, Gold Standard’s Vice President of Exploration stated, “These results once again demonstrate the unusual continuity of gold-bearing mineralization in the Pinion area. Our work at North Pinion has progressed well from defining breccia-hosted, oxide gold zones at the surface in rock chip channel samples to successfully intersecting the down-dip extension of these gold zones in Phase 2 drilling. Clearly, this work has filled some gaps and extended the breccia-hosted gold 430m to the north at Pinion. We also collected gravity and CSAMT data across the Bullion Fault Corridor moving north from Pinion which has established an exciting new structural target we plan to explore in 2015.”
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 drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The samples are delivered to ALS Minerals preparation facility in Elko, NV. The samples are crushed and pulverized and sample pulps are shipped to ALS Minerals certified laboratory in Vancouver. Pulps are digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) 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 duplicates, standards and blanks that must pass certain parameters for acceptance to insure accurate and verifiable results.
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 in Nevada. The Company’s flagship project, the Railroad-Pinion Gold Project, is located within the prolific Carlin Trend. The recent Pinion gold deposit acquisition offers Gold Standard a potential near-term development option and further consolidates the Company’s premier land package in the Carlin Trend. The Pinion deposit now has an NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 20.84 million tonnes grading 0.63 grams per tonne (g/t) gold (Au), totaling 423,000 ounces of gold and an Inferred Resource of 55.93 million tonnes grading 0.57 g/t Au, totaling 1,022,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced September 10, 2014). The Company plans to release an updated resource estimate in the first quarter of this year which will include the results from Phase 2 drilling.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer