VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 19, 2013) - Gold Standard Ventures Corp. (TSX VENTURE:GSV)(NYSE MKT:GSV)(NYSE Amex:GSV)("Gold Standard" or the "Company") (www.goldstandardv.com) today released results of two additional core holes drilled into the North Bullion gold deposit on its 100% controlled Railroad Project on the Carlin Trend, Nevada. The results confirm the existence of a high-grade gold zone in the lower breccia and also expand the size of the larger, above-one-gram mineralized envelope surrounding the high-grade zone.
Highlights:
Key observations:
Gold Standard commenced Phase 2 definition drilling of the North Bullion gold deposit in February, 2013. Prior drilling, designed for discovery purposes, consisted generally of a combination of vertical holes and east-directed holes fanned toward the hidden structures comprising the Bullion Fault Corridor. The North Bullion deposit, discovered in late 2010, is fairly typical of the Carlin-style, footwall-model deposits where mineralization is best developed near a major flanking structure. Historically, better mineralization is encountered up to several hundred feet from the structure. The original east-directed holes effectively discovered the deposit and served to provide some characterization of the gold mineralization. Phase 2, westerly-oriented drill holes 13-02 through 13-11, were designed to establish dimensions, provide additional definition to the mineralization, and also provide a better test of the lower breccia mineralization opportunity.
Dave Mathewson, Gold Standard's Vice President of Exploration, stated, "We are increasingly confident that the North Bullion gold deposit represents a major Carlin-style discovery within the large, prospective district-scale, multiple target setting of our Railroad project. We continue to explore for and expand mineralization at North Bullion. Discovery of uniformly thick, high grade mineralization in the lower breccia zone is a very positive development and lends favorably to the discovery of similar zones and additional high grade extensions to what we have discovered to date. We are also applying what we have learned elsewhere along the very prospective and essentially unexplored 10 kilometer long Bullion Fault Corridor now fully controlled by Gold Standard. We recently completed CSAMT (Controlled source audio magneto-telluric) survey coverage, geologic mapping and extensive additional surface sampling along the Bullion Fault Corridor - only a small portion of which has been previously tested by drilling. Surface geochemistry and geology, combined with the gravity and CSAMT data, have identified several compelling, untested target opportunities toward the south within the Bullion Fault Corridor target zone."
Please see table below for detailed Intercepts for North Bullion Fault Zone. (Please see drill hole location map at http://goldstandardv.com/5xp141/nbdrilling-09-13.jpg.)
Drill Hole RR13-08 |
Intercept (m) | Thickness (m) | Au Grade (g/t) | |||
175.9-179.9 | 4.0 | 0.34 | ||||
192.1-200.0 | 7.9 | 3.77 | ||||
Including | 195.1-200 | 4.9 | 5.62 | |||
205.3-230.8 | 25.5 | 1.89 | ||||
303.6-377.1 | 73.5 | 3.67 | ||||
Including | 336.9-344.5 | 7.6 | 12.07 | |||
Including | 352.1-364.3 | 12.2 | 6.93 | |||
384.1-416.1 | 32.0 | 0.99 | ||||
Including | 389.0-396.9 | 7.9 | 3.12 | |||
451.5-453.0 | 1.5 | 0.75 | ||||
486.6-489.3 | 2.7 | 1.58 | ||||
RR13-09 | Precollar Set | |||||
RR13-10 | Intercept (m) | Thickness (m) | Grade (g/t) | |||
163.7-166.8 | 3.1 | 0.93 | ||||
171.6-174.3 | 2.7 | 0.51 | ||||
197.9-198.8 | 0.9 | 0.86 | ||||
209.1-244.2 | 35.1 | 1.82 | ||||
Including | 224.7-230.8 | 6.1 | 6.34 | |||
299.7-370.4 | 70.7 | 0.55 | ||||
434.5-435.7 | 1.2 | 0.45 | ||||
438.0-439.5 | 1.5 | 0.55 | ||||
RR13-11 | Intercept (m) | Thickness (m) | Grade (g/t) | |||
295.7-297.2 | 1.5 | 0.58 | ||||
301.8-304.9 | 3.1 | 0.41 | ||||
313.4-411.6 | 98.2 | 3.26 | ||||
Including | 322.2-327.4 | 5.2 | 5.04 | |||
Including | 354.2-371.3 | 17.1 | 9.98 | |||
RR13-12 | In Progress | |||||
RR13-13 | Precollar Set |
*note: the gold intervals reported in the above table are based on a 0.250 g Au/t (0.007 oz Au/st) cutoff. Weighted averaging has been used to calculate all reported intervals. The reported gold intervals may, or may not represent true thicknesses and, or widths. In general, the gold distribution within these large, complex breccia bodies tends to be irregular and will require additional drilling to establish true widths.
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 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. 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 Ventures is focused on the acquisition and exploration of gold projects in North Central Nevada. Gold Standard currently holds a portfolio of projects totaling approximately 40,000 acres of prospective ground within North Central Nevada and the Walker Lane of which 18,130 acres comprise the flagship Railroad Gold Project on the productive Carlin Gold Trend.
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.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
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 current drill plans 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. Such factors include, among others, the following risks: operational risks associated with mineral exploration; unanticipated geological formations, 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). Furthermore, the existence of gold deposits on nearby properties is not necessarily indicative of the mineralization on our properties. 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.
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