In an April 15 research note, PI Financial Corp. Mining Research Analyst Chris Thompson advised that Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) recently announced infill drilling results from its metallurgical core holes drilled at its Pinion Project during 2020. The company also reported on two key upcoming management changes as well.
The analyst stated he found the latest data from drilling the Pinion property "incrementally positive."
PI Financial stated that it was encouraged after Gold Standard Ventures intercepted 61.1 meters (m) of 1.07 grams per tonne (g/t) in a location approximately 50 meters outside of the current resource envelope. The intercept included two segments that returned 14.2 m of 1.77 g/t Au and 19.0 m of 1.43 g/t Au.
Gold Standard is expected to make southward expansion of the Pinion deposit a high priority for its 2021 exploration program. The analyst's report indicated that "solid grades" were recorded in the SB Zone, which remains open to the south for at least 600 meters, offering plenty of opportunity for further high grade resource expansion.
"We see resource expansion providing direct value to the company based on the near surface, low cost nature of the oxide mineralization that can be brought into the mine plan with relative ease," wrote the analyst.
The report noted that the added resource conversion will most likely have a positive impact on the upcoming feasibility study (FS). This is due to the fact that the 2020 metallurgical program incorporated a reduction in drill hole spacing, which according to the analyst, "will allow a significant portion of the Inferred Resource to be converted to M&I, adding significant value to an expanded operating scenario in the upcoming FS (expected by year-end)."
PI Financial stated that the significant grade improvement and global resource conversion potential for areas lying outside the boundaries of the existing PFS pit is around 21 Mt grading 0.57 g/t for a total of 401 Koz Au.
The analyst indicated that the upcoming changes in management at the firm "provide full refresh." The report noted Gold Standard's General Manager Don Harris is retiring and will be replaced by incoming Geology Manager Richard Yancey. In addition, Chief Metallurgist Eric Hill has been selected to replace Manager of Projects Steven Koehler, who is also retiring. PI Financial stated that the leadership changes may be instrumental in advancing the project forward through the feasibility stage and ultimately toward a construction decision.
PI Financial Corp. presently has a "Buy" rating on Gold Standard Ventures Corp. with a target price of CA$1.30/share. The company's shares trade under the symbol GSV on the Toronto Stock Exchange and are currently trading at around CA$0.73/share.
[NLINSERT]Disclosure:
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Disclosures from PI Financial, Gold Standard Ventures Corp., April 15, 2021
We, Justin Stevens and Chris Thompson, hereby certify that all of the views expressed in this report accurately reflect our personal views about the subject securities or issuers. We also certify that no part of our compensation was, is, or will be, directly or indirectly related to the specific recommendations or views expressed in this report. We are the research analysts primarily responsible for preparing this report.
Research Disclosures for Gold Standard Ventures Corp.:
3) PI Financial Corp. and/or its affiliates have received compensation for investment banking services for the subject company over the preceding 12-month period. Yes
4) PI Financial Corp. and/or its affiliates expect to receive or intend to seek compensation for investment banking services from the subject company. Yes
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