VANCOUVER, BRITISH COLUMBIA–(Marketwired - Sept. 14, 2016) - Gold Standard Ventures Corp. (TSX VENTURE:GSV) (NYSE MKT:GSV) (“Gold Standard” or the “Company”) today announced assay results from two holes, DS16-21 and DS16-04, at the recently discovered North Dark Star oxide gold deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. Results from DS16-21 have increased the width of the deposit and, more importantly, have confirmed that higher-grade oxide mineralization projects up-dip to more shallow depths to the east of DS16-08.
The primary objective of this year’s drill program at North Dark Star was to expand the high grade zone discovered in core hole DS15-13 (15.4m of 1.85 g Au/t and 97.0m of 1.61 g Au/t) at the end of last year’s drill program (see January 21, 2016 news release). DS16-08, located 100m south of DS15-13, began to achieve this objective when it returned a 126.2 meter section grading 3.95 g Au/t including higher grade intervals of 44.0m of 4.70 g Au/t, 17.9m of 5.6 g Au/t and 7.9m of 10.7 g Au/t (see August 9, 2016 news release). Then, DS16-03B, located 120m south of DS16-08, intersected a 101.2 meter section grading 1.50 g Au/t including a higher grade interval of 32.3m of 2.87 g Au/t (see August 18, 2016 news release).
The most recent core hole, DS16-21, returned a fully oxidized 56.2 meter section grading 1.83 g Au/t, including higher grade intervals of 5.8m of 2.74 g Au/t and 9.8m of 3.78 g Au/t (Please click the following link to view plan and section maps: http://goldstandardv.com/lp/north-dark-star-sept-results-update/). All of the gold values within the 56.2 m intercept are above the cut-off grade of 0.14 g Au/t established by APEX Geoscience Ltd. of Edmonton, Canada in its Dark Star NI43-101 resource estimate announced on March 3, 2015 (see news release).
Jonathan Awde, CEO and Director of Gold Standard commented: “The up-dip extension found in hole 21 is exactly what we need to build tonnage potential at North Dark Star. Proximity to surface for this high grade material should also have a very favorable impact on mine plans. Drilling continues with three rigs in the Dark Star Corridor, one rig at the new Sentinal Target north of Pinion, while a fifth rig is following up the exciting results we recently reported from our North Bullion high grade deposit.”
Key North Dark Star Highlights
- The intercept of 56.2m of 1.83 g Au/t in DS16-21 starts approximately 25 meters below the topographic surface. This intercept represents the shallow, up-dip continuation of the intercept of 126.2m of 3.95 g Au/t intersected in DS16-08 (see August 9, 2016 news release). DS16-21 was collared approximately 85 meters east of DS16-08 and drilled parallel to it at -45 degrees dipping to the east (refer to cross section link).
- Mineralization in DS16-21 occurs in decalcified, variably silicified, pervasively oxidized and collapse brecciated debris flow conglomerate. Limonite, hematite, barite and quartz veins are associated with the mineralization (click the following link for pictures of core: http://goldstandardv.com/lp/north-dark-star-sept-results-update/). This is the same part of the conglomerate section that hosts gold in core holes DS16-08, DS16-03B and DS15-13.
- Importantly, North Dark Star mineralization is now continuous over approximately 270m in a north-south direction and approximately 100m east-west. The deposit remains open in multiple directions.
- DS16-04, a reverse-circulation scout hole, was drilled to test for a continuation of the North Dark Star gold system 515m north of DS16-08, making it the most northerly hole completed thus far in the Dark Star Corridor. This hole intersected North Dark Star alteration in favorable stratigraphy, but did not report any significant gold values. These results are similar to early stage 2015 reverse-circulation drilling north of the Dark Star maiden resource, prior to making the discovery at North Dark Star. DS16-04 is a first-step in the vectoring process outboard from North Dark Star.
North Dark Star drill results are as follows:
|Drill Hole||Method||Azimuth||Incl.||TD (m)||Intercept (m)||Thickness (m)||Grade (g Au/t)|
|DS16-04||RC||090||-55||562.5||No intercepts > 0.14 g Au/t|
|DS16-21||Core||090||-45||453.7||16.6 - 20.4||3.8||0.23|
|38.6 - 94.8||56.2||1.83|
|Including||62.2 - 68.0||5.8||2.74|
|Including||73.7 - 83.5||9.8||3.78|
|128.3 - 135.5||7.2||0.41|
|154.6 - 156.1||1.5||0.19|
|208.2 - 209.1||0.9||0.14|
|226.1 - 229.9||3.8||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 70-90% of drilled thicknesses.
Mac Jackson, Gold Standard’s Vice President of Exploration stated, “The oxide intercept in DS16-21 is very important in adding vertical extent to the North Dark Star gold zone, bringing it up-dip, close to the surface. Good continuity along strike is indicated by the similar geometry we see between holes DS15-10, DS15-13 and DS16-02 on the cross section 100 meters to the north of DS16-21. The substantial thickness, continuity and shallow depth of the North Dark Star gold zone are very positive attributes of this expanding deposit.”
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 or certified reference material was inserted approximately every tenth sample. The North Dark Star samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, NV. The samples are crushed, pulverized and sample pulps are shipped to Bureau Veritas 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 were 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 is measured by a gyroscopic down-hole survey that has been 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. 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, included herein including, without limitation, statements about our proposed exploration programs are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Risk factors affecting the Company include, among others: the results from our exploration programs, global financial conditions and volatility of capital markets, uncertainty regarding the availability of additional capital, fluctuations in commodity prices; title matters; and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com) and with the SEC on EDGAR (available at www.sec.gov/edgar.shtml). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
CAUTIONARY NOTE FOR U.S. INVESTORS REGARDING RESERVE AND RESOURCE ESTIMATES
All resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission for descriptions of mineral properties in SEC Industry Guide 7 under Regulation S-K of the U. S. Securities Act of 1933. In particular, under U. S. standards, mineral resources may not be classified as a “reserve” unless the determination has been made that mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Accordingly, information in this press release containing descriptions of the Company’s mineral properties may not be comparable to similar information made public by US public reporting companies.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
Gold Standard Ventures Corp.