Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) began a drilling program at its Lewis project in Nevada, it announced in a news release.
The company will drill four holes for 1,555 meters (1,555m) at this 5,340-acre asset in the Battle Mountain mining district, looking for high-value targets. The Lewis property contains "known mineralized zones and potential for new gold and silver discoveries," the released noted.
Two holes, the first ones ever in this area, will target Antler Sequence host rocks along the Buena Vista-Meagher corridor, which is due north of Newmont Mining's Phoenix mine.
The other two holes will test for eastern, shallow oxide extensions of the Virgin deposit about 700m north of the Phoenix open-pit mine. "The Virgin fault is a control for mineralization within the Phoenix mine, and both structural control and mineralization continue northward along it onto Gold Standard's project," according to the release. Gold Standard will start work to prepare a resource estimate for Virgin.
The company intends to capitalize on the strategic value of Lewis sharing a boundary with Phoenix. As such, Lewis could provide Phoenix with additional gold resources and room to expand the pit to reach more of its own ore.
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