VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2012) - Gold Standard Ventures Corp. (GSV.V)(GSV.V)(GSV) ("Gold Standard" or the "Company") (www.goldstandardv.com) reported today that a CSAMT geophysical survey recently conducted over a portion of the North Bullion Fault Zone (NBFZ) on its flagship Railroad Gold Project in Nevada's Carlin Trend appears to have successfully outlined the primary target area. The NBFZ is where Gold Standard has discovered high-grade gold mineralization in recent drilling.
According to the survey results, the NBFZ target appears to be a quite well-defined large "sliver" of prospective clastic and carbonate rock units up to about 1200 feet wide and about 1 mile long between two major anastomosing fault boundaries. A portion of this target coincides with the best gold grades drilled to date.
Dave Mathewson, Gold Standard's Vice President of Exploration, explained that, "These results indicate to us that the survey was able to distinguish the primary target within the North Bullion Fault Zone. To date, we have essentially been drilling a blind target of unknown size found by slow and patient drilling and careful interpretation of the drill core's geology and geochemistry. Now, we have a more definable shape and location stretching well to the north and south into unexplored areas. What is most satisfying is that the significance of this large geophysical anomaly is confirmed by the fact that it is nicely coincident with the high grade gold drilled in holes such as RR 11-16 and RR12-1."
RR 12-1 intersected 537 feet (164 meters) of 0.099 oz Au/st (3.38 g/t Au) including 140 feet (42.7 meters) of 0.274 oz Au/st (9.40 g/t Au). This intersection included 12 intercepts (each about 5 feet in length) which assayed greater than 0.3 oz Au/st (10 g/t Au) to as high as 0.75 ozAu/st (25.6 g/t Au). See Gold Standard's news release of April 26, 2012.
The geophysical program, a Controlled-Source Audio-Frequency Magnetotelluric Survey (CSAMT), was conducted by Zonge International of Tucson, Arizona. The purpose of the CSAMT survey was to define structures and lithologies associated with gold mineralization along a 2.5 mile northern portion of the more than six mile long north-south-trending NBFZ structural corridor that Gold Standard Ventures controls. The CSAMT technology has been successfully used through-out Nevada to map unexposed geological features and outline gold exploration targets. The CSAMT data exhibit resistivity variability in the important rock units and also define structural breaks that correspond with the geology that has been developed from multiple holes on two cross-sections, including the high grade gold drilled in holes RR 11-16 and RR12-1. The survey was completed on 12 east-west sections, lines about 1 mile long spaced 500 to 1500 feet apart along the projected strike of the North Bullion Fault for a distance of 2.5 miles.
"The CSAMT survey results will allow us to be more aggressive and expeditious stepping out from our current, relatively small area of focus. We plan to use the results from the CSAMT survey to design and better focus approximately 30 core holes into the North Bullion Fault Zone target this year. Four core drills are currently drilling this target zone - a key use of proceeds for the financing we completed recently. We also plan to use CSAMT to define some of our other exploration targets," Mathewson said.
The scientific and technical content and interpretations 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 a Canadian-based company focused on the acquisition and exploration of district-scale and other gold-bearing mineral properties exclusively in the State of Nevada, United States. The Company's flagship property is the Railroad Project, located in Elko County, Nevada. The Railroad Project is a prospective gold exploration target comprising approximately 15,636 acres (24.4 square miles) within the Carlin Trend of north-central Nevada.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
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 the intended use of proceeds from the Offering 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. Such factors include, among others, the following risks: operational risks associated with mineral exploration; 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.
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- Gold Standard