The Pinion oxide gold deposit occurs within the southern portion of the Bullion Fault Corridor, the same structural feature that controls the North Bullion discovery. The style of oxide mineralization at Pinion is very similar in character to Newmont’s recently commissioned Emigrant heap-leach gold mine, located about 16 kilometers to the north. The Pinion deposit’s gold mineralization occurs in an oxidized collapse-style breccia, with both deposits having similar grades and similar gold-to-silver ratios. The company has issued an updated resource in 2016 and is advancing the project towards development.
Pinion Key Highlights
- Consolidation of the Pinion land package – March 2014; the first time one company has controlled the entire Pinion gold deposit since its discovery in the early 1980’s.
- The Pinion acquisition was transformational for the Company, enabling Gold Standard Ventures to develop a significant near-surface, oxide gold deposit.
- Completed a maiden NI 43-101 compliant resource estimate – September 2014, updated resource estimate in March 2016 (+49% in indicated resource – please see press release dated March 15, 2016).
- Indicated Mineral Resource of 31.61 million tonnes grading 0.62 g/t Au, totaling 630,300 ounces of gold, using a cut-off grade of 0.14 g/t Au1.
- Inferred Mineral 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 Au1.
- Oxidized, at or near-surface gold mineralization exhibits very predictable lateral continuity.
- Hosted in dissolution collapse breccia at the top of the Devils Gate Limestone, the same gold host horizon as the Rain, Emigrant, Saddle, Tess and North Bullion deposits to the north.
- Mineralization remains open in multiple directions. Excellent potential exists for expansion of the resource along geologic controls identified during the modeling of the deposit (please see “drilling” section for 2016 Pinion exploration plan).
- Bottle roll tests yield weighted-average gold recoveries of 69.2% from 10 mesh size material and 80.3% recoveries from finer 200 mesh size material (Please see press release July 12, 2016)
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