Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced in a news release it discovered a new high-grade oxide zone at the LT target at its Railroad-Pinion project in Nevada. LT is about 3 kilometers north-northwest of the company's oxide gold reserve.
Specifically, hole LT19-02 hit 12.2 meters (12.2m) of 1.58 grams per ton (1.58 g/t) gold, including 3.1m of 5.16 g/t gold. The gold mineralization is near surface and open in all directions. It is "hosted in silicified, iron oxide bearing breccia in the hanging wall of a north-striking quartz feldspar porphyry dike," the release noted.
LT is now a high priority target that Gold Standard will explore further in 2020.
"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 prefeasibility study milestone behind us, we are excited to be back exploring for new discoveries that could complement our current resources and reserves," CEO and director Jonathan Awde said in the release. "LT is one of a handful of new opportunities that will now get the attention they deserve."
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