Gold Standard Ventures Corp. is pleased to announce assay results from two core holes at the North Bullion deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend. Both holes returned significant intercepts that expand the gold mineralization to the northwest and north. Results from RR16-01 are highlighted by 65.6m of 3.17 grams gold per tonne (g Au/t), which includes a higher grade interval of 8.5m of 11.16 g Au/t (Please click the following link to view a North Bullion plan map http://goldstandardv.com/lp/north-bullion-results-2016/).
Jonathan Awde, CEO and Director of Gold Standard commented: "North Bullion was our first discovery on our Railroad-Pinion project and it remains potentially the most significant in the long term. We are very excited to see the results from the rest of this year's program at North Bullion. We think we may be in the early stages of exploring one of the prolific high-grade, collapse breccia-hosted deposits on the Carlin Trend."
North Bullion is a classic Carlin-style, high-grade deposit exhibiting all the characteristics of large, high-grade collapse breccia hosted deposits on the Carlin Trend. Unlike GSV's Pinion and Dark Star deposits which are highly oxidized, gold-bearing rock at North Bullion is refractory in nature but the additional cost of processing this material is often offset elsewhere on the Carlin Trend by increased grade.
Exploration drilling at North Bullion ended in 2013 with very encouraging intercepts in the Lower Breccia Zone of 98.2m of 3.26 g Au/t (including 17.1m of 9.98 g Au/t) in RR13-11 and 73.5m of 3.67 g Au/t (including 12.2m of 6.93 g Au/t) in RR13-08 (see news releases dated September 19 and May 21, 2013). Subsequently, a new interpretation identified a west-northwest trend to the lower zone, higher-grade gold mineralization. Multiple data sets supported, and now confirm, this conclusion including grade x thickness contours, structure contours, gravity and CSAMT. West-northwest structural zones are an important control for gold mineralization throughout the Carlin Trend. Newmont's Saddle (780,000 oz @ 19.6 g Au/t) and Tess (1.5 Moz @ 12.7 g Au/t) deposits occur along the west-northwest Rain fault, located just 7 km to the north of the North Bullion deposit (Longo, et al., NBMG Bulletin 111, 2002).
The primary objective of the 2016 North Bullion drill program is to test for an extension of the Lower Breccia Zone to the west-northwest and north. A more cost-effective approach to drilling North Bullion was developed using reverse-circulation (RC) drills to complete and case holes (so-called precollars) to depths immediately above the target before switching to a core rig to complete the hole through the mineralized zone. This approach has proved effective in the 2016 drill program.
Key North Bullion highlights include:
- RR16-01 intersected 8.5m of 11.16 g Au/t within a thicker zone of 65.6m of 3.17 g Au/t. This intercept is approximately 120 meters west-northwest of the intercept in RR13-11 of 17.1m of 9.98 g Au/t.
- RR16-02 is one of the most northerly holes completed thus far at North Bullion, located 400m north of RR13-11. RR16-02 intersected strong alteration and relatively modest gold values (9.5m of 1.18 g Au/t), with the gold mineralization hosted in silty micrite and calcarenite dominated multilithic collapse breccia sandwiched between Tripon Pass silty micrite and a dacite sill, clearly still within the flat-tabular Lower Breccia Zone. This is the same productive host horizon present at Gold Standard's Pinion Deposit to the south and the deposits within Newmont's Rain District just 7 km to the north.
- RR16-01 and RR16-02 have successfully extended the total known strike length of the Lower Breccia Zone and confirmed the expansion potential of the North Bullion gold system to the west-northwest and to the north. Mineralization in both holes remains open in multiple directions. Two precollars were recently completed to continue to test this target.
North Bullion drill results are as follows:
(i) Gold intervals reported in the above table are based on a 0.30 g Au/t cutoff. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 80-100% of drilled thicknesses. In general, the gold distribution within these large, complex breccia will require additional drilling to confirm true widths.
Mac Jackson, Gold Standard's Vice President of Exploration stated: "We have made great progress at North Bullion this year. The intercept in RR16-01 is a big step-out and establishes our predicted west-northwest trend to high-grade gold. We have also figured out how to drill efficiently, completing 100% of our precollars and decreasing our coring costs. With these high-grade results and our increased drill efficiency, we are looking forward to drilling more holes at North Bullion and adding to this large gold system."
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 project 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 or certified reference material was inserted approximately every tenth sample. The North Bullion core samples were delivered to ALS Minerals preparation facility in Elko, NV where they were crushed and pulverized. Resulting sample pulps were shipped to ALS Minerals certified laboratory in Sparks, NV or Vancouver, BC. Pulps were digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30 gram split. Over limit gold assays were determined using a fire assay fusion with a gravimetric finish on a 30 gram split. All other elements were determined by ICP analysis. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to insure accurate and verifiable results. Drill hole deviation was measured by gyroscopic down hole surveys that were completed on all holes by International Directional Services of Elko, NV.
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.