Gold Standard's First Drill Program at Pinion Confirming Historical Results and Finding New Gold Mineralized Zones
25 Junho 2014 - 4:05AM
Marketwired
Gold Standard's First Drill Program at Pinion Confirming Historical
Results and Finding New Gold Mineralized Zones
First five holes include oxidized intercepts of 39.6 m. of 1.01
g Au/t and 69.8 m. 0.89 g Au/t
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 25, 2014) - Gold
Standard Ventures Corp. (TSX-VENTURE:GSV)(NYSEMKT:GSV) ("Gold
Standard" or the "Company") today announced assay results of the
first five drill holes from the Pinion Phase 1 drilling program at
its 100%-owned Railroad-Pinion Project in Nevada's Carlin Trend.
These results to date are meeting three key objectives of the drill
program: verifying historical drill data, expanding the known
limits of the gold mineralization and demonstrating the
predictability of GSV's new geological model.
Drilling highlights include:
- PIN14-01, a core hole, returned 69.8m of 0.89 g Au/t beginning
essentially at surface, successfully twinning and verifying results
from historical RC hole TCT-017 (68.6m of 0.92 Au/t).
- PIN14-02, a 60m westerly RC step-out from the known limits of
the Main Zone, returned 0.44 g Au/t over 15.2m, potentially opening
the deposit in this direction.
- PIN14-05, an RC hole, returned 1.01 g Au/t over 39.6m and a
further 0.39 g Au/t over 53.4m in a lower breccia zone which is
potentially a major new target at Pinion.
The Phase 1 program consists of 13 vertical drill holes, eight
of which have been completed (click the following link for Pinion
Phase 1 drill hole map:
http://goldstandardv.com/proposed-pinion-holes/). Assays are
pending for holes PIN14-06 through PIN14-10. One RC hole (PIN14-10)
and one core hole (PIN14-08) are currently in progress. In addition
to the objectives noted above, the program will collect material
for density and metallurgical testing in advance of an initial
NI-43-101 resource estimation expected in late July.
Key Observations:
- The targeted multilithic, dissolution collapse breccia host was
intersected in all five drill holes. Gold mineralization is
continuous and widespread within this highly permeable, silicified
and oxidized breccia which is favorably sandwiched between
relatively impermeable silty micrite of the overlying Mississippian
Tripon Pass Formation and thick, bedded calcarenite of the
underlying Devonian Devil's Gate Formation (click here for Pinion
deposit cross section:
http://goldstandardv.com/pinion-cross-section/).
- Gold-bearing intercepts in PIN14-03 and PIN14-04 expanded
mineralization 60 meters to the west along a
north-northeast-striking fault, adding to the evidence of an
emerging connection between the historical North and Main
Zones.
- PIN14-05 intersected two separate intervals of oxidized gold
mineralization in the North Zone. The lower gold intercept
represents a new target, not identified by historic drilling, which
lies along a northwest-striking fault. Immediately below the lower
gold intercept, PIN14-05 intersected a quartz-sericite-pyrite
altered, quartz porphyry dike-filled fault before ending in
Chainman sandstone. The presence of Chainman sandstone indicates
that additional, untested collapse breccia targets could exist at
depth at the underlying Devil's Gate Formation contact-a typical
occurrence on the Carlin Trend.
Drill results for the first five holes are as follows:
Drill Hole |
Method |
Incl. |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g Au/t) |
PIN14-01 |
Core |
-90 |
96.3 |
1.5 - 71.3 |
69.8 |
0.89 |
including |
9.8 - 17.1 |
7.3 |
2.31 |
PIN14-02 |
RC |
-90 |
68.6 |
18.3 - 33.5 |
15.2 |
0.44 |
PIN14-03 |
RC |
-90 |
109.8 |
57.9 - 62.5 |
4.6 |
0.38 |
PIN14-04 |
RC |
-90 |
99.1 |
39.6 - 57.9 |
18.3 |
0.30 |
PIN14-05 |
RC |
-90 |
391.8 |
122.0 - 161.6 |
39.6 |
1.01 |
|
172.3 - 173.8 |
1.5 |
0.56 |
|
231.7 - 285.1 |
53.4 |
0.39 |
|
301.8 - 304.9 |
3.1 |
0.39 |
|
326.2 - 329.3 |
3.1 |
0.24 |
** Gold intervals reported in this table were calculated using
a 0.20 g Au/t cutoff. Weighted averaging has been used to calculate
all reported intervals. True widths are estimated at 85% of drilled
thicknesses. |
In addition to the drilling, current activities at the Pinion
Deposit include the collection and interpretation of gravity data,
detailed and district scale geologic mapping, relogging historic RC
drill cuttings and cross section interpretation.
Mac Jackson, Gold Standard's Vice President of Exploration
stated, "Our first drill holes at Pinion demonstrate the presence
of a strong oxidized gold system that is very continuous and
widespread in the collapse breccia host at the top of the Devil's
Gate Formation. The new, deeper potential recognized in PIN14-05 is
one of the types of targets we expect to identify as we integrate
the geology through relogging, mapping and gravity work. We are
very excited by our Phase 1 drill results to date and the
exploration potential we see emerging at Pinion."
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. Core was cut at the company's facility in Elko, NV and
one half was sent to the lab for analysis and the other half
retained in the original core box. A blank, quarter core duplicate
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 GSV a
potential near-term development option and further consolidates the
Company's 115km2 premier land package in the Carlin Trend. Gold
Standard is moving towards building NI 43-101 compliant gold
resources at both the near surface, oxide-gold Pinion deposit and
the classic Carlin style, North Bullion gold deposit in 2014.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) nor
the NYSEMKT 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 financing 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.
On behalf of the Board of Directors of Gold Standard, |
|
"Jonathan Awde" |
|
Jonathan Awde, President and Director |
Jonathan AwdePresidentTel: 604-669-5702Email:
info@goldstandardv.comWebsite: www.goldstandardv.com
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