In a news release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced it discovered a "new higher-grade oxide zone with potential to grow" at its Pinion deposit in Nevada's Carlin Trend.
"Railroad-Pinion has continued to provide upside surprises. The new Pinion zone has the best oxide gold grades we have ever drilled at Pinion and it has potential to expand. Finding gold in the Tripon Pass Formation opens up a possible new host unit," CEO and Director Jonathan Awde said in the release.
"Twelve holes ended in altered multilithic breccia with oxide gold values ranging from 0.31 g Au/t to 2.52 g Au/t as mineralized thicknesses exceeded expectations. All considered, this has been a very successful program, and we have more results to come."
Results from 15 core holes drilled at Pinion are pending.
Gold Standard identified the new area of mineralization via results of the final 36 reverse circulation holes drilled at Pinion this season.
One outcome is that the drill bit hit a "reduced gold zone of 10.7 meters (10.7m) of 2.14 grams per ton (2.14 g/t)" in the Tripon Pass Formation, immediately above the oxide intercept of 38.1m of 4.37 g Au/t. This reduced intercept represents a new gold host and style of mineralization at Pinion," the company stated.
"Pinion Phase 4 drilling has defined a new N60W striking zone of higher than average deposit gold grade, considerable breccia thickness and an increase in igneous sills and dikes," the company noted. Extension may be possible because mineralization remains open for another 600 meters to the southeast of the recent drilling and at depth.
PR20-26 returned 77.7m of 2.24 g/t gold (Au), including 22.9m of 4.21 g/t Au. PR20-34 showed 38.1m of 4.37 g/t Au, including 16.8m of 5.41 g/t Au.
PR20-60 demonstrated 25.9m of 3.66 g/t Au, including 12.2m of 6.45 g/t Au. PR20-37 returned 39.6m of 1.36 g/t Au, including 15.2m of 2.03 g/t Au.
"These results identify a number of new and potentially value-add opportunities at Pinion and the greater South Railroad project," the release noted.
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