Review of Pinion Data by Gold Standard Confirms Upside Potential
08 Aprile 2014 - 1:30PM
Marketwired
Review of Pinion Data by Gold Standard Confirms Upside Potential
"To date, this acquisition is proving to be everything
we had hoped for," CEO says
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 8, 2014) - Gold
Standard Ventures Corp. (TSX-VENTURE:GSV)(NYSEMKT:GSV) ("Gold
Standard" or the "Company") reported today on its ongoing
evaluation of the extensive set of data obtained in its acquisition
of the Pinion Project located immediately adjacent to its Railroad
Project in the Carlin Trend of Nevada. The acquisition closed in
early March (see news release of March 5, 2014).
Commenting on the review, Gold Standard President and CEO
Jonathan Awde affirmed that the project data "is very complete and
very high quality, which puts us well ahead of where we thought we
would be at this stage in terms of our understanding of the Pinion
deposit. The geological setting is very similar to Newmont's
Emigrant Run-of-Mine (ROM), heap-leach oxide gold deposit just a
few miles to the north, as we had thought. The highly oxidized
nature of the mineralized zones is evident. Historical drilling
clearly did not find the limits of the deposit, either vertically
or along strike. Gold Standard is the first company, in the Pinion
Project's history, to consolidate control of the deposit. To date,
this acquisition is proving to be everything we had hoped for and
more."
A re-logging program is underway of core and cuttings from 385
Pinion drill holes. New, detailed logs are being created for 12
core holes and 373 reverse circulation (RC) holes to establish the
geology of the deposit including the alteration types and
structural features controlling the gold mineralization.
Interpretation of the new drill logs is identifying areas of
open-ended mineralization and new target zones. The re-logging will
also provide the geological modeling required for resource
estimation.
The 12 core holes totaling 822.9 meters have been re-logged in
detail by Gold Standard. Preliminary observations include:
- The Pinion Deposit is characterized by a consistent and
predictable sequence of geologic units from the Chainman to the
Webb, Tripon Pass and Devil's Gate formations., This should support
a more predictive resource model and facilitate further successful
exploration.
- Gold is hosted in multi-lithic collapse breccia developed along
the Webb/Tripon/Devil's Gate contacts. Mineralization is associated
with silicification, hematite, quartz stockworks and barite. This
is a classic setting for successful, heap-leachable deposits on the
Carlin Trend.
- Historic drill holes demonstrate good continuity of
collapse-breccia-hosted gold mineralization from hole to hole.
- At least 25 historic RC holes ended in gold mineralization
assaying greater than 0.343 grams per tonne (g Au/T) or 0.010
ounces per short ton (oz Au/st). Examples include:
Drill Hole |
TD (m) |
Intercept (m) |
Thickness (m) |
Grade (g AuT) |
CPR-037 |
112.8 |
64.0-112.8 |
48.8 |
0.892 |
SB-97 |
181.4 |
150.9-181.4 |
30.5 |
1.097 |
TCT-023 |
42.7 |
7.6-42.7 |
35.1 |
1.989 |
TCX-025 |
85.4 |
61.0-85.4 |
24.4 |
2.229 |
* True widths are estimated at 85% of drilled
thickness |
- Six of the twelve core holes contained intervals of unsampled
and unassayed core in zones of pervasive hydrothermal alteration.
For example, the intitial sample taken within the middle of an
oxidized, clay-silica altered breccia intercept returned 1.030
gAu/T (the entire interval returned 44.2m of 0.754 gAu/T). All
unsampled intervals of core from these six holes have now been
submitted for gold fire assay.
- Four holes (SB-131, SB-132, SB-136, and SB-137) on the southern
extent of the historic drilling contain multiple zones of altered
quartz porphyry intrusions. As illustrated at the North Bullion and
Bald Mountain Targets, igneous dikes/sills are closely associated
with gold mineralization. The alignment of these Pinion drill
holes, combined with altered igneous subcrop northeast of SB-136,
point to a previously unrecognized west-northwest trending
structural corridor which is a common feature of Carlin deposits.
SB-136 intersected 102.1m of 1.372 gAu/t from 176.8-278.9m,
including a higher grade interval of 33.5m of 2.68 gAu/st from
176.8-210.3m. This intercept ended in mineralization and the
zone intersected appears open in several directions.
The Company's technical team is currently working towards
confirming historical drill hole locations, assessing the
requirement for infill holes, verifying other areas of gold
mineralization identified by previous operators and determining the
most prospective targets where the known mineralization remains
open. The aim is to plan a drill program which has two objectives:
1) to complete sufficient drilling to confirm the historical
drilling, leading to a modern resource estimate to the standards of
NI 43-101 and, 2) to test the potential for expansion of the known
limits of mineralization. The company anticipates that drilling
will commence early in May, 2014 (subject to weather and other
factors).
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.
History of
Pinion:
The Pinion Deposit was discovered in two parts; the portion in
section 22, controlled by unpatented mining claims and BLM surface
management, was initially drilled by Amoco Minerals Company in
1981, followed by Freeport in 1983, and Teck in 1986. The portion
in section 27, controlled by private fee minerals and surface
ownership, known as the South Bullion was found by Newmont in 1998.
From that time forward, the mineral and surface rights covering the
Pinion Deposit have remained dispersed among various mining
companies and ranching families consisting of an ever increasing
numbers of individual heirs controlling the ownership rights
required to work on the collective Pinion deposit project. Various
attempts to consolidate ownership failed, making coherent
exploration and development impossible until the consolidation
finally accomplished last month by Gold Standard.
ABOUT GOLD STANDARD VENTURES - Gold Standard is an advanced
stage gold exploration 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 premier
land package in the Carlin Trend. Gold Standard plans on announcing
its initial NI 43-101 for 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, President and Director
Gold Standard Ventures Corp.Jonathan
AwdePresident604-669-5702info@goldstandardv.comwww.goldstandardv.com
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