In a news release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced it discovered a "new higher-grade oxide zone with potential to grow" at its Pinion deposit in Nevada's Carlin Trend.
"Railroad-Pinion has continued to provide upside surprises. The new Pinion zone has the best oxide gold grades we have ever drilled at Pinion and it has potential to expand. Finding gold in the Tripon Pass Formation opens up a possible new host unit," CEO and Director Jonathan Awde said in the release.
"Twelve holes ended in altered multilithic breccia with oxide gold values ranging from 0.31 g Au/t to 2.52 g Au/t as mineralized thicknesses exceeded expectations. All considered, this has been a very successful program, and we have more results to come."
Results from 15 core holes drilled at Pinion are pending.
Gold Standard identified the new area of mineralization via results of the final 36 reverse circulation holes drilled at Pinion this season.
One outcome is that the drill bit hit a "reduced gold zone of 10.7 meters (10.7m) of 2.14 grams per ton (2.14 g/t)" in the Tripon Pass Formation, immediately above the oxide intercept of 38.1m of 4.37 g Au/t. This reduced intercept represents a new gold host and style of mineralization at Pinion," the company stated.
"Pinion Phase 4 drilling has defined a new N60W striking zone of higher than average deposit gold grade, considerable breccia thickness and an increase in igneous sills and dikes," the company noted. Extension may be possible because mineralization remains open for another 600 meters to the southeast of the recent drilling and at depth.
PR20-26 returned 77.7m of 2.24 g/t gold (Au), including 22.9m of 4.21 g/t Au. PR20-34 showed 38.1m of 4.37 g/t Au, including 16.8m of 5.41 g/t Au.
PR20-60 demonstrated 25.9m of 3.66 g/t Au, including 12.2m of 6.45 g/t Au. PR20-37 returned 39.6m of 1.36 g/t Au, including 15.2m of 2.03 g/t Au.
"These results identify a number of new and potentially value-add opportunities at Pinion and the greater South Railroad project," the release noted.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Gold Standard Ventures. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.