Gold Standard Ventures Corp. (TSX VENTURE:GSV)(NYSE MKT:GSV) ("Gold Standard" or "GSV" or the "Company") has added approximately 20,941.81 gross acres (19,777.21 net acres) to its holdings at the south end of the Carlin Trend, an increase of 66%. GSV now controls a total of 52,731 gross acres (208 sq. km. or 80 sq. miles) in the area. This is the first time these important holdings have been consolidated under the control of a single holder.
(Please click the following link to view an updated land map: https://goldstandardv.com/lp/railroad-pinion-land-acquistion/).
With these acquisitions, GSV has gained control over additional key gold exploration targets contiguous with, and to the south of, the growing Dark Star and Pinion deposits. A number of the areas acquired have had previous exploration, with historical results that suggest they are highly prospective.
The acquisitions include cost-effective lease agreements with private mineral interest owners and newly staked claims. The total cost of these acquisitions was approximately US$501,121. Annual holding costs for the new acquisitions are approximately US$289,000. Approximately 3,880 gross acres (2,540 net acres) of these acquisitions were previously disclosed by the Company in its Management Discussion and Analysis filed with SEDAR on November 14, 2016.
Key features of the land consolidation include:
- Access to prime Dark Star-like gold exploration targets within favorable Pennsylvanian-Permian carbonate rocks as well as Devils Gate dissolution collapse breccia targets similar to Pinion and North Bullion. These targets have been identified by the Company from its re-interpretation of work by previous operators including limited drilling. To evaluate these new exploration opportunities, Gold Standard will implement the systematic, geologically-focused exploration methodology that has successfully resulted in the discovery and expansion of the Dark Star, Pinion and North Bullion gold deposits. Geologic mapping, gravity, CSAMT, soil geochemistry and systematic drill hole re-logging are planned for the new ground in 2017.
- Access to southern strike extensions of the 6.7km long Dark Star Corridor (DSC). Within this structural corridor, the gold mineralization at the North Dark Star discovery, the Dark Star maiden resource and the Dixie prospect occur within a horst (uplifted block) of permissive Pennsylvanian-Permian host rocks in the footwall of a large-displacement normal fault on the east side of the horst. This configuration is a well-documented control for gold mineralization on the Carlin Trend and is amenable to further definition by geologic mapping, gravity and CSAMT.
Jonathan Awde, CEO and Director of Gold Standard commented: "We have been working patiently for almost 18 months on this package of additional claims. Since our initial acquisition in the Railroad District, our aim has been to consolidate the southern part of the Carlin Trend which historically has been divided among many small owners, preventing systematic district scale exploration using modern technologies. As we have developed our knowledge of the district, we have learned a great deal about where the best opportunities can be found and our ongoing land acquisition program has reflected this. We are confident that the gold system continues to the south onto the newly acquired ground."
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.