VANCOUVER, BRITISH COLUMBIA–(Marketwired - Oct. 13, 2016) - Gold Standard Ventures Corp. (TSX VENTURE:GSV) (NYSE MKT:GSV) (“Gold Standard” or the “Company”) today announced assay results from three core holes, DS16-23, DS16-24 and DS16-27, at the recently discovered North Dark Star gold deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. In the most recent core holes, DS16-24 returned 97.3 meters of 3.16 g Au/t, including two higher grade intervals of 10.1m of 4.02 g Au/t and 49.1m of 4.62 g Au/t; and, DS16-27 returned 39.0m of 0.72 g Au/t. These new results continue to increase the size, width, continuity and down-dip extent of the deposit.
The primary objective of this year’s drill program at North Dark Star was to expand the high grade gold 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 the 2015 drill program (see January 21, 2016 news release). DS16-08, located 100m south of DS15-13, subsequently 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). 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). Then, DS16-21 returned a 56.2 meter interval grading 1.83 g Au/t, including higher grade interval 9.8m of 3.78 g Au/t (see September 14, 2016 news release), up-dip to the east of DS16-08 (Please click the following link to view plan and section maps: https://goldstandardv.com/lp/north-dark-star-oct-results/ ). All of these intercepts report continuous gold values 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: “Drilling at North Dark Star continues to find unusually high grades in oxide material. I think we can now safely say that this deposit represents an important new discovery in the Carlin Trend and we have yet to establish its limits. Our technical team has noted that key geological characteristics of the North Dark Star occurrence are present in untested areas within the Dark Star Corridor. Drilling continues.”
Key North Dark Star Highlights
- DS16-24 intersected 97.3m of 3.16 g Au/t approximately 65m down-dip to the west from 126.2m of 3.95 g Au/t intersected in DS16-08 (see August 9, 2016 news release) (Please click the following link to view a cross section of DS16-24 and DS16-08: https://goldstandardv.com/lp/north-dark-star-oct-results/ ). The dip of the mineralization appears to be flattening to the west, rather than steepening, a positive development. Mineralization occurs within the host package of decalcified, variably silicified, and collapse brecciated debris flow conglomerate, the same part of the conglomerate section that hosts gold in core holes DS16-08, DS16-03B, DS16-21 and DS15-13.
- The intercept in DS16-24 is split into two contiguous zones: an upper, pervasively oxidized zone, with limonite and hematite; and, a lower reduced zone with sooty pyrite, carbon, weak limonite and hematite on fractures (click the following link for DS16-24 core photos: https://goldstandardv.com/lp/north-dark-star-oct-results/ ). The transition from oxide to reduced zones with increasing depth in Carlin-style gold systems is a well-documented and expected pattern. The two higher grade intervals of 10.1m of 4.02 g Au/t and 49.1m of 4.62 g Au/t are indicative of a robust gold system.
- Approximately 120 meters south of DS16-24 and -08, the oxide intercept of 39.0m of 0.72 g Au/t in DS16-27 represents the down-dip continuation of 101.2m of 1.50g Au/t mineralization intersected in DS16-03B (see August 18, 2016 news release). Separation between the DS16-27 and DS16-03B mineralized intercepts is approximately 60 m and mineralization appears again to be flattening to the west (Please click the following link to view a cross section of DS16-27 and DS16-03B: https://goldstandardv.com/lp/north-dark-star-oct-results/ ). Mineralization in DS16-27 occurs in decalcified, weak to moderately silicified, oxidized and collapse brecciated debris flow conglomerate, bioclastic limestone, calcarenite, and silty limestone.
- The north-striking Ridgeline fault has emerged as an important control on mineralization with the gold system focused in the eastern, hanging wall side of the fault. A new and evolving interpretation suggests that the North Dark Star gold zone occurs in a syncline within the hanging wall of the Ridgeline fault. Faults and folds are well-documented controls on mineralization within Carlin-style gold systems of northern Nevada.
- DS16-23, a core hole located approximately 80m east and up-dip of DS16-03B, returned anomalous gold values from altered and oxidized debris flow conglomerate. Initial interpretations suggest DS16-23 may be east of mineral-controlling structures.
North Dark Star drill results are as follows:
|Drill Hole||Method||Azimuth||Incl.||TD (m)||Intercept (m)||Thickness (m)||Grade (g Au/t)|
|DS16-23||Core||090||-45||411.6||No intercepts > 0.14 g Au/t|
|DS16-24||Core||090||-60||423.2||104.5 - 114.0||9.5||0.16|
|119.8 - 136.9||17.1||0.41|
|143.3 - 144.5||1.2||0.30|
|152.4 - 161.5||9.1||0.28|
|171.6 - 175.7||4.1||0.33|
|180.8 - 278.1||97.3||3.16|
|Including||203.9 - 214.0||10.1||4.02|
|Including||225.9 - 275.0||49.1||4.62|
|Also Including||262.5 - 275.0||12.5||6.09|
|DS16-27||Core||090||-75||389.6||67.4 - 69.7||2.3||0.21|
|Including||77.7 - 80.1||2.4||0.16|
|93.0 - 94.2||1.2||0.19|
|98.5 - 101.2||2.7||0.15|
|108.8 - 110.1||1.3||0.20|
|114.6 - 153.6||39.0||0.72|
|136.9 - 144.2||7.3||1.49|
(i) 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, “This stellar, high-grade intercept in DS16-24 is very important in adding width and flattening the dip of the North Dark Star gold zone. Intercepts with that thickness and grade, add ounces quickly. We are continuing to test altered Pennsylvanian-Permian carbonate host section along the northerly striking Ridgeline fault and are looking forward to future results.”
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.