Gold Standard Ventures Corp. (TSXV:GSV) (NYSE
AMERICAN:GSV) (“Gold Standard” or the “Company) today
announced positive metallurgical results from continuing work
designed to determine the processing characteristics of the Dark
Star oxide gold deposit, on its 100%-owned/controlled Railroad
Project in Nevada’s Carlin Trend. Bottle roll recoveries from
-10 mesh size material averaged 88% for Dark Star oxide and
transition materials. Results indicate this material is
likely to support heap leach processing.
Bottle roll testing for cyanide solubility of
Dark Star core samples was completed by Kappes Cassiday and
Associates of Reno, Nevada, under the direction of Gary Simmons,
consulting metallurgical engineer. Bottle rolls were
completed on drill core samples at both -10 mesh and -200 mesh size
fractions. The results will be combined with column leach
testing currently in progress to predict gold recoveries in a
cyanide heap leach operation.
At Dark Star, a total of 62 samples
representative of the gold deposit were tested using bottle rolls
at the two different size fractions. Oxide and transitional
material thought to be suitable for heap leaching was subjected to
testing to determine ranges of gold recovery. At Dark Star,
gold recoveries for oxide and transitional in the coarse -10 mesh
bottle rolls of material ranged from 60-98%, with an average
gold recovery of 88%. In the finer -200 mesh bottle rolls
gold recovery ranged from 75-98%, with an average gold recovery of
91%.
According to Mr. Simmons, “Data from metallurgical bottle roll
testing to date at Dark Star point to high gold leach extraction
from oxidized materials and suggest that simple heap leaching
of crushed and/or run of mine material may be the preferred
process option at Dark Star.”
Jonathan Awde, CEO and Director of Gold Standard
commented: “This is an important further step in determining the
economic potential of the high grade near surface Dark Star gold
deposit. Not only are the initial recoveries very encouraging but
also the amount of preparatory grinding and reagent consumption
required appear to be very manageable. Our ongoing aim is to
complete a PEA this year that confirms our belief that the Dark
Star deposit can become a low cost gold producer.”
Key Highlights
- Oxide and Transitional Material at Dark Star is amenable to
cyanide leaching, as confirmed by bottle roll testing summarized
below.
Mineralized Area/Rock Type |
Material Type |
Number of Bottle Rolls |
Average Gold Head Grade -10 Mesh (g/t) |
-10 Mesh Gold Recovery Range |
-10 Mesh Average Gold Recovery |
Average Gold Head Grade -200 Mesh (g/t) |
-200 mesh Gold Recovery Range |
-200 Mesh Average Gold Recovery |
Main Dark Star |
Oxide |
11 |
0.67 |
70-98% |
87 |
% |
0.69 |
82-95% |
90 |
% |
Main Dark Star |
Transitional |
3 |
1.43 |
68-87% |
82 |
% |
1.44 |
75-91% |
87 |
% |
North Dark Star |
Oxide |
48 |
1.63 |
60-97% |
88 |
% |
1.60 |
76-98% |
92 |
% |
|
|
|
|
|
|
|
|
|
All Dark Star |
Oxide and Transitional |
62 |
1.45 |
60-98% |
88 |
% |
1.43 |
75-98% |
91 |
% |
- Cyanide soluble gold assays confirm the consistently oxidized
nature of gold mineralization within the Main Dark Star and North
Dark Star gold zones, and suggest that the deposit will be amenable
to heap leach processing.
- Column leach tests for Dark Star are currently nearing
completion and the Company expects to receive final column leach
results in late November. These results will be combined with
the bottle roll results to predict gold recovery from a run of mine
and/or crushed rock heap leach flowsheet and be incorporated into
the Preliminary Economic Assessment currently in progress on the
project.
- Reagent use in the bottle rolls for Lime and Cyanide
consumption on oxide/transitional material is shown in the table
below. Lime consumption is low, while cyanide consumption is
within a normal range for long leach time (72-144 hours) bottle
tests of these material types.
Mineralized Area/Rock Type |
Material Type |
Number of Bottle Rolls |
Average Sulfide (%) |
Average Organic Carbon (%) |
-10 MeshNaCN (kg/mt) |
-10 Mesh Ca(OH)2(kg/mt) |
-200 mesh NaCN(kg/mt) |
-200 Mesh Average Ca(OH)2 (kg/mt) |
Main Dark Star |
Oxide |
11 |
0.07 |
<0.01 |
0.26 |
1.18 |
2.22 |
0.61 |
Main Dark Star |
Transitional |
3 |
0.35 |
<0.01 |
0.88 |
2.08 |
2.88 |
1.33 |
North Dark Star |
Oxide |
48 |
0.11 |
0.11 |
0.22 |
0.89 |
1.52 |
0.65 |
|
|
|
|
|
|
|
|
|
All Dark Star |
Oxide and Transitional |
62 |
0.12 |
0.11 |
0.27 |
1.00 |
1.72 |
0.68 |
Bottle Roll Testwork
Methodology
Core intervals from 68 composites from 13 Dark
Star drill holes were selected based on gold grade (both AuFA and
AuCN), oxidation state, sulfide content, lithology, and alteration
types. Bottle roll leach testing was conducted on portions of
material from each sample. Sixty two of the composites were
either oxide or transitional in nature and were tested for cyanide
leaching amenability. A 1,000 gram portion of crushed
material (target 80% passing 1.70 millimeters/10 mesh) was utilized
for leach test work. Additionally, a 1,000 gram portion of
head material was milled in a laboratory rod mill to a target size
of 80% passing 0.075 millimeters (200 mesh). The milled
slurry was then utilized for leach testing. For the coarse
bottle rolls, the split material was placed into a 3.5 liter bottle
and slurried with 1,500 ml of tap water. The mixed slurry was
pH checked and adjusted to 10.5-11.0 as needed with hydrated
lime. Sodium cyanide (NaCN) was added to the slurry, with a
target of 1.0 g/l. Bottle was then placed on a set of
laboratory rolls and checked at 2, 4, 8, 24, 48, 72, 96, 120, and
144 hours for pH, dissolved oxygen, NaCN, Au, Ag, and Cu.
Additional hydrated lime and sodium cyanide were added after each
sample period to adjust the slurry to target levels. After
completion, the slurry was then filtered, washed, dried, and
assayed. The finer 200 mesh bottle rolls were conducted using
the same methods, although the samples were wet screened to ensure
the finer size fraction was achieved, and testing was stopped at 72
hours.
The metallurgical content and interpretations
contained in this news release have been reviewed, verified and
approved by Gary Simmons, BSc, Metallurgical Engineering, of G L
Simmons Consulting, LLC, MMSA-01013QP, a Qualified Person as
defined by NI 43-101, Standards of Disclosure for Mineral
Projects.
Sampling Methodology, Chain of Custody,
Quality Control and Quality Assurance
All sampling was conducted under the supervision
of the Company’s senior geologists and the Company’s metallurgical
consultant Gary Simmons. The chain of custody from the GSV’s Elko
office to the sample preparation facility was continuously
monitored. Sample pulps were delivered to ALS Minerals preparation
facility in Elko, NV and shipped to ALS Minerals certified
laboratory in Vancouver, BC. Cyanide soluble assays were
determined by the Au-AA13s method. Quality control and
assurance and data verification of the analytical results includes
a statistical analysis of the standards and blanks that must pass
certain parameters for acceptance to insure accurate and verifiable
results.
Data obtained from this sampling was utilized to
select core intervals for bottle roll and column leach testing at
Kappes Cassiday and Associates in Reno, Nevada. All
metallurgical sampling was conducted under the supervision of the
Company’s project geologists and the chain of custody from the
Company’s Elko office to the KCA sample preparation and testing
facility in Reno, Nevada was continuously monitored. Upon
receipt, KCA weighed, photographed, and assigned unique sample
numbers for testing to material received. During test work,
all samples remained under the supervision of KCA and results were
assayed and check assayed during testing procedures. Lab
assays were conducted by KCA, with three analysis completed on each
sample. Original head assays were performed at ALS (Reno,
NV). During all stages of analysis appropriate standards and
blanks were inserted by both GSV geologists and laboratory
staff. As part of the quality control and assurance all final
results were verified and checked by both KCA and Gary Simmons.
The scientific and technical content contained
in this news release have been reviewed, verified and approved by
Steven R. Koehler, Gold Standard’s Manager of Projects, BSc.
Geology and CPG-10216, a Qualified Person as defined by NI 43-101,
Standards of Disclosure for Mineral Projects.
ABOUT GOLD STANDARD VENTURES –
Gold Standard is an advanced stage gold exploration company focused
on district scale discoveries on its Railroad-Pinion Gold Project,
located within the prolific Carlin Trend. The 2014 Pinion and Dark
Star gold deposit acquisitions offer Gold Standard a potential
near-term development option and further consolidates the Company’s
premier land package on the Carlin Trend. The Pinion deposit now
has an NI43-101 compliant resource estimate consisting of an
Indicated Mineral Resource of 31.61 million tonnes grading 0.62 g/t
Au, totaling 630,300 ounces of gold and an Inferred Resource of
61.08 million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces
of gold, using a cut-off grade of 0.14 g/t Au. The Dark Star
deposit, 2.1 km to the east of Pinion, has a NI43-101 compliant
resource estimate consisting of an Indicated Mineral Resource of
15.38 million tonnes grading 0.54 g/t Au, totaling 265,100 ounces
of gold and an Inferred Resource of 17.05 million tonnes grading
1.31 g/t Au, totaling 723,500 ounces of gold, using a cut-off grade
of 0.2 g Au/t. The North Bullion deposit, 7 km to the north of
Pinion, has a NI43-101 compliant resource estimate consisting of an
Indicated Mineral Resource of 2.92 million tonnes grading 0.96 g/t
Au, totaling 90,100 ounces of gold and an Inferred Resource of
10.97 million tonnes grading 2.28 g/t Au, totaling 805,800 ounces
of gold, using a cut-off grade of 0.14 g Au/t for near surface
oxide and 1.25 to 2.25 g Au/t for near surface sulfide and
underground sulfide respectively.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the NYSE AMERICAN accepts responsibility for
the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements, which relate to future events or future performance and
reflect management’s current expectations and assumptions. Such
forward-looking statements reflect management’s current beliefs and
are based on assumptions made by and information currently
available to the Company. All statements, other than statements of
historical fact, included herein including, without limitation,
statements about our proposed exploration programs are forward
looking statements. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Risk factors affecting the
Company include, among others: the results from our exploration
programs, global financial conditions and volatility of capital
markets, uncertainty regarding the availability of additional
capital, fluctuations in commodity prices; title matters; and the
additional risks identified in our filings with Canadian securities
regulators on SEDAR in Canada (available at www.sedar.com) and with
the SEC on EDGAR (available at www.sec.gov/edgar.shtml). These
forward-looking statements are made as of the date hereof and,
except as required under applicable securities legislation, the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances.
CAUTIONARY NOTE FOR U.S. INVESTORS
REGARDING RESERVE AND RESOURCE ESTIMATES
All resource estimates reported by the Company
were calculated in accordance with the Canadian National Instrument
43-101 and the Canadian Institute of Mining and Metallurgy
Classification system. These standards differ significantly from
the requirements of the U.S. Securities and Exchange Commission for
descriptions of mineral properties in SEC Industry Guide 7 under
Regulation S-K of the U. S. Securities Act of 1933. In particular,
under U. S. standards, mineral resources may not be classified as a
“reserve” unless the determination has been made that
mineralization could be economically and legally produced or
extracted at the time the reserve determination is
made. Accordingly, information in this press release
containing descriptions of the Company’s mineral properties may not
be comparable to similar information made public by US public
reporting companies.
On behalf of the Board of Directors of Gold
Standard,
“Jonathan Awde”
Jonathan Awde, President and Director
FOR FURTHER INFORMATION PLEASE CONTACT: Jonathan
Awde President Tel: 604-669-5702 Email: info@goldstandardv.com
Website: www.goldstandardv.com
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