Press Release: Gold Standard Discovers Significant Oxide Gold at New Bald Mountain Target at Railroad Project, Carlin Trend, Nevada
(Dow Jones 10.02 13:00:09)
Gold Standard Discovers Significant Oxide Gold at New Bald Mountain Target
at Railroad Project, Carlin Trend, Nevada
First core hole intersects 56.1m of 1.47 g Au/T gold including 7.3m of 5.66
g Au/T
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 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
from its first core hole drilled into the Bald Mountain Au-Cu target which
could have important economic consequences for the Company's 100%-owned
Railroad Project in the Carlin Trend.
Vertical core hole RRB13-1 intersected 56.1 meters of 1.47 g Au/T, including
an internal interval of 7.3 meters of 5.66 g Au/T. Importantly, the gold
intercept is hosted entirely in oxidized hornfels breccia and represents the
most significant oxidized gold mineralization found to date in the northern
Railroad project area. Gold in oxidized mineralization can typically be
recovered using less expensive methods than non-oxidized (sulphide)
material.
Immediately below the gold intercept, RRB13-1 intersected a separate copper
zone returning 23.3 meters of 0.4% copper as well as narrower but high-grade
intercepts of other base metals and silver.
Highlights:
-- RRB13-1 (located about 1500 meters southwest from the North Bullion gold
discovery), the first hole drilled by Gold Standard into the Bald
Mountain Au-Cu target, was designed to provide an early-stage core test
of a porphyry Cu-Au-type target opportunity indicated by historical
shallow reverse circulation holes. This high priority target opportunity
became available for drilling when the exploration Plan of Operations
(POO) was approved and finalized in December, 2012. (Please see drill
hole location map below.)
-- Significant intercepts in RRB13-1 include 56.1 meters of 1.47 g Au/T,
including an internal interval of 7.3 meters of 5.66 g Au/T .
Immediately
below the gold intercept, the hole intersected a separate zone of 23.3
meters grading 0.4% copper. The gold and copper mineralization is open
in
all directions.
-- The gold and copper mineralization appears to be entirely within
non-calcareous, oxidized material which could ultimately be amenable to
simple cyanidization and/or acid leaching extraction.
-- In addition to the gold and copper mineralization, four intercepts of
silver with base metals were encountered in RRB13-1 including a 1.5
meter
intercept of 763.8g g Ag/t, 1.6%Cu, 11.8% Pb and 2.43% Zn. The
implications of these intercepts are being evaluated.
Key observations:
-- Prior, shallow historical drilling in the area used RC rigs; therefore,
the character and qualities of the host rock type, and the style and
distribution of mineralization, remained largely unknown.
-- Known primarily as a base metal and silver camp, the historical Central
Bullion area, in which Bald Mountain is located, now appears to be
emerging also as an important gold opportunity.
-- Further core drilling is required to determine the orientation and
expand
the extent of the newly-discovered Bald Mountain oxide gold
mineralization.
-- 1200 meters to the southwest, RRB13-2, a 65 meter, vertical, deeper
offset follow-up to RRB12-3, was recently completed and assays are
pending.
-- A third hole, RRB13-03, in the Central Bullion area will commence
shortly,
at a target called Steve's Camp, approximately 600 meters south of
RRB13-01.. This hole is designed to test an area between the Cu-Ag Skarn
drilled at the end of last year (see news release of January 22, 2103)
and the newly discovered Bald Mountain Au-Cu intercept.
Please go to http://goldstandardv.com/5xp141/drilllocationv2.jpg to see
Central Bullion Target Area Map.
Dave Mathewson, Gold Standard`s Vice President of Exploration, stated: "We
are excited by this discovery of gold in oxide material at Bald Mountain as
well as the multi-element potential of the broader Central Bullion area. We
have recently expanded our surface sample coverage and are now looking at a
target area for copper, gold and silver with a diameter of four kilometers."
Please see table below for detailed Intercepts for RRB 13-1.
Drill Hole Other Ag, Cu, Pb,
RRB13-01 Intercept (m) Thickness (m) Au Grade (g/t) Zn, ETC.
----------- -------------- ------------- -------------- ------------------
206.4-262.5 56.1 1.47 6.5 g Ag/t
-------------------------- ------------- -------------- ------------------
Including 212.6-219.9 7.3 5.66
----------- -------------- ------------- -------------- ------------------
260.9-296.0 35.1 0.17 6.8 g Ag/t
-------------------------- ------------- -------------- ------------------
0.31% Cu
----------- -------------- ------------- -------------- ------------------
0.15% Zn
----------- -------------- ------------- -------------- ------------------
Including 269.8-293.1 23.3 0.40% Cu
----------- -------------- ------------- -------------- ------------------
451.5-452.4 0.9 0.11 95 g Ag/t
-------------------------- ------------- -------------- ------------------
0.03% Cu
----------- -------------- ------------- -------------- ------------------
1.72% Pb
----------- -------------- ------------- -------------- ------------------
0.21% Zn
----------- -------------- ------------- -------------- ------------------
472.1-473.6 1.5 0.62 763.8 Ag/t
-------------------------- ------------- -------------- ------------------
1.60% Cu
----------- -------------- ------------- -------------- ------------------
11.75% Pb
----------- -------------- ------------- -------------- ------------------
2.43% Zn
----------- -------------- ------------- -------------- ------------------
523.6-524.2 0.6 0.26 281 g Ag/t
-------------------------- ------------- -------------- ------------------
0.29% Cu
----------- -------------- ------------- -------------- ------------------
5.37% Pb
----------- -------------- ------------- -------------- ------------------
1.08% Zn
----------- -------------- ------------- -------------- ------------------
533.5-536.1 2.6 0.29 45.3 g Ag/t
-------------------------- ------------- -------------- ------------------
0.029% Cu
-------------------------- ------------- -------------- ------------------
0.70% Pb
-------------------------- ------------- -------------- ------------------
0.46% Zn
-------------------------- ------------- -------------- ------------------
*note: the gold intervals reported in the above table are based on a 0.200 g
Au/t 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.
(MORE TO FOLLOW) Dow Jones Newswires
October 02, 2013 07:00 ET (11:00 GMT)
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