The Lewis Project is a separate and unique exploration project located approximately 100 km west of GSV’s flagship South Railroad development project. The project shares a common land boundary with Nevada Gold Mines’ Phoenix mine, one of the most prolific and active gold-silver-copper producers on the Battle Mountain-Eureka trend. The Company believes that the Lewis Project inferred mineral resource estimate at the Virgin Deposit is a continuation of the Phoenix-Fortitude mineralization currently being mined by Nevada Gold Mines in the Phoenix mine. Open pit laybacks for the Phoenix mine’s approved environmental impact statement actually cross onto GSV-controlled ground and may include mining all or portions of the Inferred Mineral Resource. The Lewis Project has several known mineralized zones and has the potential for new gold and silver discoveries on the 5,340-acre (2,161 hectare) project. The project was acquired by Gold Standard as part of its purchase of Battle Mountain Gold Inc. completed on June 14, 2017. Lewis is not a mineral property material to the Company for the purposes of NI 43-101.
APEX Geoscience Ltd. released a mineral resource estimate for the Virgin Deposit, located on the 100% owned Lewis Project, on May 5, 2020, in accordance with NI 43-101 Standards of Disclosure. Highlights of the mineral resource estimate follow: