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Gold Standard Ventures Update on LT Target in Railroad-Pinion Project in Nevada's Carlin Trend

Mining News - Published on Fri, 15 Nov 2019

Image Source: Gold standard ventured corp
Gold Standard Ventures Corp has reported the discovery of a new high-grade oxide zone at the LT target on its 100 owned & controlled Railroad-Pinion Project in Nevada's Carlin Trend. Reverse-circulation hole LT19-02 intersected 12.2m of 1.58 g Au/t, including 3.1m of 5.16 g Au/t. The drill hole sits within a sizeable area exhibiting high-grade surface gold in outcrop. LT is located approximately 3km north-northwest of Gold Standard's Pinion oxide gold reserve. Mr Jonathan Awde, CEO and Director of Gold Standard said "Our recent South Railroad PFS demonstrates a project with robust operating margins. We continue to focus on enhancing the project economics, extending the mine life through the conversion of inferred ounces to reserves, and reducing the up-front capital costs. With the PFS milestone behind us, we are excited to be back exploring for new discoveries that could complement our current resources and reserves. LT is one of a handful of new opportunities that will now get the attention they deserve.”

Key Highlights from LT

LT19-02 intersected 12.2m of 1.58 g Au/t, including 3.1m of 5.16 g Au/t. Mineralization is near surface - beginning at approximately 23m below the current topographic surface and is well-oxidized, with cyanide solubility assays averaging 89%. These results confirm the discovery of high-grade oxide gold in the LT area that is open in all directions for additional drill testing.

Gold mineralization is hosted in silicified, iron oxide bearing breccia in the hanging wall of a north-striking quartz feldspar porphyry dike. All of Gold Standard's previous discoveries (e.g. Dark Star, Pinion, North Bullion, Jasperoid Wash and Dixie) are localized in dike-filled fault corridors, which are ideal structural locations for the development of gold systems.

The LT19-02 intercept is located approximately 185m north of surface outcrops that returned assay values ranging from <0.005 to 12.90 g Au/t from over a 400m by 200m area. At this location, eight surface samples returned values exceeding 1.0 g Au/t, with four samples ranging from 4.50 g Au/t to 12.90 g Au/t. Gold mineralization is hosted in decalcified, silicified and oxidized multilithic breccia proximal to a north-striking igneous dike. Drilling has not yet tested the area of +1 g Au/t in surface outcrops.

LT is a high value target that will receive exploration focus in 2020.

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Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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