In multiple press releases over the four weeks, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced results from two deposits on its 100%-owned and controlled Railroad Project in Nevada's Carlin Trend.
A Dec. 7 announcement outlined results from four infill holes at Dark Star, the larger of the two deposits.
A few key highlights are listed below:
- Infill core hole DS17-28 intersected 68.4m of 3.35 g Au/t, including two higher-grade zones of 7.0m of 14.30 g Au/t and 6.0m of 10.30 g Au/t.
- DS17-30 is a RC hole completed approximately 35m south of DS16-08 and 30m east of DS17-28. The hole intersected a thick zone of 164.6m of 2.26 g Au/t, including three higher-grade zones of 16.8m of 4.12 g Au/t, 16.8m of 2.86 g Au/t, and 36.6m of 3.51 g Au/t.
- DS17-29 is a RC hole completed approximately 60m south of DS17-28 and 30m east of DS17-20 (136.0m of 2.67 g Au/t). The hole (DS17-29) intersected 118.9m of 1.27 g Au/t including three higher grade zones of 9.1m of 2.98 g Au/t, 4.6m of 4.36 g Au/t, and 33.5m of 1.70 g Au/t.
"Infill drilling at Dark Star continues to return grades and thicknesses above our expectations based on the current resource model. This deposit is taking shape as a potentially exceptional economic opportunity. Drilling is still proceeding with five rigs working on Dark Star and several exploration targets throughout the Railroad Project," Jonathan Awde, CEO and director of Gold Standard, stated regarding the release of the Dark Star results.
The second deposit with higher than expected results is the Pinion oxide deposit. According to a Nov. 21 announcement, the results at the Pinion North Zone "include 56.4m of 1.68 g Au/t in PIN17-02, 42.7m of 1.23 g Au/t in PIN17-10, 15.2m of 1.66 g Au/t in PIN17-04 and 32.0m of 0.89 g Au/t in PIN17-05." The Pinion Main Zone results include "PIN17-10 intersected 42.7m of 1.23 g Au/t including a higher-grade interval of 22.8m of 1.92 g Au/t; and PIN17-05 intersected 32.0m of 0.89 g Au/t including 12.2m of 1.66 g Au/t."
Jonathan Awde stated: "We are pleasantly surprised by our Pinion infill drilling success which appears to be adding resource ounces at better than expected grades. We think these new results could make a valuable contribution to the Preliminary Economic Assessment now in progress. Pinion is no longer the small deposit of uncertain grade and metallurgy that we acquired four years ago."
Joe Reagor, an analyst with ROTH Capital, noted in a Nov. 29 report that Gold Standard Ventures "has done additional metallurgical work on its Railroad project, which showed recovery rates above our prior expectations." Reagor believes Gold Standard Ventures "is significantly undervalued in the current gold price environment" and maintains a Buy rating.
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