Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced expanded exploration and development plans for the remainder of 2018 on its 100%-owned and controlled Railroad-Pinion Project in Nevada's Carlin Trend.
"Work this autumn will focus on 1) drill testing three new exploration targets; 2) further step out drilling at the Dark Star deposit; 3) further step out drilling at Jasperoid Wash; 4) completing the Dark Star and Pinion resource updates in support of a PEA currently in progress; and 5) expansion of development activities at the Dark Star and Pinion deposits," stated the company. "In the revised program, Gold Standard is allocating an additional US$2.0 million from the recently closed financing (see September 5, 2018 news release) for exploration and development drilling. This new capital allocation is in addition to the US$25.8 million development and exploration program outlined in the February 26, 2018 news release."
Jonathan Awde, Gold Standard's CEO, noted, "This year's program has developed a highly efficiency rhythm with excellent co-ordination among the various elements from drill crews to core sampling, assaying and geological oversight. It makes good sense to maintain this level of effort as long as weather conditions allow. The size and intensity of this year's program, together with our rapidly accumulating knowledge of the terrain, have resulted in an explosion of promising new targets with the identifying characteristics that have proved productive to date. Our budget and onsite technical leadership have allowed us to make new discoveries and immediately follow up with targeted drilling to begin establishing their potential rather than waiting for the next field season. We are excited by what we think we can accomplish in the remainder of this year to add value and continue the rapid evolution of Railroad District."
Three drill rigs will be added to the program for a total of five rigs on-site.
"At Dark Star, complete approximately 3,400m of RC and core drilling in 18 holes to expand areas of known oxide mineralization to the west and south, and complete approximately 5,4 00m of RC drilling in 17 holes to test targets at depth below the current model," stated the company. "Specifically, drilling will target 1) mineralization in the footwall of the Ridgeline fault where DR18-99 intersected 56.4m of 2.94 g Au/t, including 16.8m of 8.67 g Au/t and 2) a 300m long (north-south) by 150m wide (east-west) area at North Dark Star where 24 holes ended in mineralization 30 to 90m below the current resource model."
According to the company, it will complete resource updates for Dark Star and Pinion, and a maiden resource for Jasperoid Wash in Q4/18, in support of a PEA currently in progress, and continue metallurgical, geotechnical, slope stability, hydrology and material characterization studies, in support of permitting and development activities.
Gold Standard noted that at Jasperoid Wash, it intends to "complete approximately 3,500m of reverse-circulation (RC) and core drilling in 17 holes to expand areas of known shallow oxide mineralization; test new targets north and south of the existing drill pattern; and provide additional material for metallurgical testing."
At the new West Dixie target approximately 4.5 km south of Dark Star, the company plans to complete about 950m of RC drilling in three holes. Drilling will test a folded and faulted section of altered Penn-Perm debris flow carbonate rocks. No historical drilling was ever completed in this area.
At North Bullion, the company intends to complete a 21.2 line-km of seismic survey, consisting of three east-west lines, to identify new targets beneath post-mineral volcanic cover to the north and west of the North Bullion resource. Results of this program may lead to mud rotary scout drilling in 2019.
"We are very excited that our efforts have continued to define targets with excellent potential. We look forward to building on the discoveries that we've made in the district and we are confident that as our understanding of the complex stratigraphic and structural history of the southern Carlin Trend evolves, more discoveries will be made," said David Ernst, Gold Standard's director of operations.
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