Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced in a news release the elements of its planned phase 1 development and exploration program at its South Railroad project in Nevada's Carlin Trend.
"Our prefeasibility studies have demonstrated that South Railroad is a robust project at gold prices well below current levels," CEO and Director Jonathan Awde said in the release. "What we want—and what we expect—is a longer mine life to drive prospective returns to another level as we move the project through Feasibility. To achieve this objective, we have designed this year’s programs to upgrade known inferred resources to indicated and also better define the potential in recently discovered new targets. That’s our expectation for 2020."
To achieve that, Vancouver-based Gold Standard aims to upgrade known Inferred resources to Indicated resources and to better delineate the potential of recently discovered targets, both through a drill campaign comprising 136 reverse circulation and core holes over 20,410 meters. Three primary target areas will be drill tested: LT and the Pinion and Dark Star deposits.
At the Pinion deposit, up to 75 reverse circulation and core holes will be drilled. The goals there are to decrease drill spacing on the Inferred oxide resource to potentially convert those ounces to the Measured and Indicated category, to collect material for further metallurgical testing and to carry out additional geotechnical and hydrology studies.
At the Dark Star deposit, up to 20 holes will be drilled to test additional targets, including Saddle, the Sirius and West faults and East Dark Star.
At LT, a new near-surface oxide target, six stepout holes will be drilled to test structural and stratigraphic targets to the north and south of LT19-02, which was a 2019 reverse circulation hole that encountered mineralization.
Currently, a feasibility study of South Railroad is being done by M3 Engineering & Technology. Completion is expected in Q2/21.
Also in progress is development of South Railroad's plan of operations. Gold Standard aims to submit it to the U.S. Bureau of Land Management in Q4/20. Once the BLM determines that the plan is complete, work on an environmental impact statement can and will begin, the company noted.
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