Canadian Mining Journal

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GOLD: Gold Standard Ventures hits thick intervals of oxide gold at Dark Star



NEVADA – Reverse circulation drilling to the north of the Dark Star deposit at Gold Standard Ventures’ Railroad Pinion project in Nevada’s Carlin Trend has intersected thick zones of oxide gold.

Drill hole DR19-15 returned 22.9 metres of 1.92 g/t gold, including 13.7 metres of 3.04 g/t gold and drill hole DR19-26 intersected 16.8 metres of 2.58 g/t gold. The two step-out holes were drilled about 50 metres to the north of DR18-110, which cut 109.7 metres of 1.00 g/t gold, including 24.4 metres of 2.05 g/t gold.

Mineralization remains open to the north and northwest for resource expansion, the company reports.

Thick oxides were also intersected in the southeastern portion of the deposit, where mineralization remains open to the east and south for resource expansion.

Highlights from this area of the deposit included 88.4 metres of 0.61 g/t gold in DR19-57; 54.9 metres of 0.85 g/t gold, including 13.7 metres of 2.06 g/t gold in drill hole DR19-58; and 39.6 metres of 1.25 g/t gold, including 15.2 metres of 2.02 g/t gold in drill hole 19-65.

Gold Standard has completed all 70 RC holes (10,503 metres) in its 2019 Phase I drill program. The holes were designed to test new targets at depth below the current resource model and lateral resource expansion opportunities adjacent to Dark Star’s current resource.

Dark Star has an indicated resource of 15.38 million tonnes grading 0.54 g/t gold for 265,100 oz. of gold and an inferred resource of 17.05 million tonnes grading 1.31 g/t gold for 715,800 oz. of gold. The resource estimate will be updated later this year to include 2018 drill results.

Dark Star is 2.1 km to the east of the company’s Pinion deposit, which contains an indicated resource of 31.61 million tonnes grading 0.62 g/t gold for 630,300 oz. of gold and an inferred resource of 61.08 million tonnes grading 0.55 g/t gold for 1.08 million oz. of gold. This resource will also be updated before the end of the year with 2018 drill results.

The company’s North Bullion deposit, 7 km to the north of Pinion, has indicated resources of 2.92 million tonnes grading 0.96 g/t gold for 90,100 oz. of gold and inferred resources of 10.97 million tonnes grading 2.28 g/t gold for 805,500 oz. of gold.

Gold Standard is working on a prefeasibility study on the project.

At press time in Toronto the company’s shares were trading at $1.42 within a 52-week range of $1.30 and $2.40 per share.

Gold Standard has about 260 million common shares outstanding for a market cap of $369 million.

This story first appeared on www.NorthernMiner.com.


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