Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) reported Phase 1 results from the drilling it did on the Jasperoid Wash Deposit, one of its five early-stage, high-priority exploration targets this year. The Jasperoid Wash is on the company's Railroad-Pinion property in Nevada, about 7.5 kilometers west of its Dark Star Deposit.
Phase 1, Jasperoid Wash drilling encompassed 5,027 meters (5,027m) and 28 holes, one of was core and the other 27 were reverse circulation. The goals were to "reduce spacings to approximately 100m and provide the requisite data for a maiden resource estimate 2018E, provide core for metallurgical testing and test for possible lateral extensions to the target area," a news release indicated.
In general, drilling delineated a zone of near-surface, shallow, oxide gold mineralization that remains open in multiple directions. It is about 1,150m long, striking north to northeast, by 650m wide, striking east to west. "The 28 current holes continue to establish lateral continuity of the oxide mineralization," according to a news release.
Specific hole highlights are as follows.
1. JW18-26 intersected 22.9m of 0.76 grams per ton gold (g/ton Au), including 10.7m of 1.15 g/t Au. JW18-28 intersected 38.1m of 0.63 g/ton Au, including 15.2m of 1.23 g/ton Au. Mineralization in these northernmost drilled holes remains open to the north, west and east. Gold Standard will further explore this area in Phase 2 drilling.
2. JW18-01, the core hole, intersected 80.8m of 0.53 g/ton Au, which included two higher-grade areas of 6.1m of 1.15 g/ton Au and 4.6m of 1.56 g/ton Au. The hole mirrored and confirmed results of a hole drilled in 2017, JW17-10, which had intersected 7m of 0.48 g/ton Au. Column leach testing will be done on material from JW18-01.
3. About 200m north of JW17-10, the 2017 drill hole mentioned above, JW18-24, a 2018 hole, intersected 51.8m of 0.58 g/ton Au, including 9.1m of 1.01 g/ton Au.
"We continue to expand the near-surface, oxide gold zone at Jasperoid Wash and are encouraged that the geologic controls on the gold system are very similar to those at Dark Star," said Max Jackson, vice president of exploration.
Phase 2 drilling at the Jasperoid Wash is set to begin during August/September. "We'll be looking for structural settings that have the potential to host 1 to 4 g/ton gold oxide zones analogous to those we've intersected at North Dark Star," added Jackson.
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