Gold Standard Ventures Corp. reports the start of a drill program at its 100%-owned Lewis Project in the Battle Mountain Mining District, Lander County, Nevada. The program comprises of approximately 1,555 m of drilling in four drill holes to test novel, high-value targets in the Buena Vista-Meagher Corridor and the Virgin deposit footwall; and work will commence on an early resource estimate in compliance with NI 43-101 for the Virgin deposit.
The Lewis Project was purchased by Gold Standard as part of its acquisition of Battle Mountain Gold. The massive 5,340-acre mineral property has a number of known mineralized zones and potential for new silver and gold findings, while sharing a mutual boundary with Newmont Mining Corporation’s Phoenix open pit mine, one of the most productive gold-copper-silver producers on the Battle Mountain-Eureka Trend. The Phoenix Mine is expected to be added in the recently formed Barrick-Newmont Nevada Joint Venture.
In our view, Lewis has strategic value to the neighboring Phoenix Mine by contributing additional gold resources, and based upon permitted pit boundaries provides Phoenix the room it needs to increase its pit size and access more of its own ore. Our aim in this program is to enhance this strategic value.
Jonathan Awde, CEO and Director, Gold Standard.
Key Highlights from Lewis:
- Two drill holes will target promising Antler Sequence host rocks beside the north-northwest striking Buena Vista-Meagher corridor, a robust gravity gradient emerging out of Newmont’s Phoenix open pit mine. This is a new target not formerly tested by other operators.
- Two holes will test for eastern, shallow oxide extensions to the Virgin deposit about 700 m north of the Phoenix open pit mine. The holes are engineered to test Antler Sequence host rocks where northwest-striking faults intersect the Virgin fault corridor, directly north of historic intercepts of 24 m of 1.20 g Au/t in drill hole MAD-45 and 44.2 m of 0.88 g Au/t and 17.3 g Ag/t in drill hole MAD-74*.
- A preliminary NI 43-101 compliant resource estimate will be finished for the Virgin deposit. The Virgin gold-silver deposit comprises of higher-grade, gold-silver bearing structures enclosed by disseminated mineralization inside a zone measuring approximately 600 m long, 120 m wide, and 180 m deep. The Virgin fault is a control for mineralization within the Phoenix mine, and structural control as well as mineralization continues northward beside it onto Gold Standard’s project. Drilling by a former operator within the Virgin deposit (Madison Minerals 2002—2008) produced the following results including: 21 m of 7.93 g Au/t and 64.3 g Ag/t in drill hole MAD-83; and 79.2 m of 3.06 g Au/t and 13.30 g Ag/t in drill hole MAD-20*.
These holes are the first test of the highly prospective Buena-Vista Meagher Corridor immediately north of Newmont’s Phoenix Mine. The strong gravity gradient and historic shallow intercepts in upper plate Havallah Sequence rocks (including 27.4m of 2.2 g Au/t in drill hole BVD-9A*) indicate that structure and system should be present in the favorable Antler host rocks at depth. These two wide-spaced scout holes are just a start at exploring this large structural zone coming north out of the Phoenix Mine.
Mac Jackson, Chief Geologist, Gold Standard.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
The technical and scientific content contained in this press release has been reviewed, corroborated, 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.
*The reader is cautioned that these gold and silver intercepts are of unknown true thickness, and the results have not been fully verified by Gold Standard’s geologists. These data are presented to provide an indication of potential mineralization at the Lewis Project and as a guide to future exploration.