Gold Standard moves to address uncertainty at Railroad-Pinion

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Claim map of Gold Standard’s Railroad-Pinion Project in Nevada. Source: Gold Standard Ventures Corp.

Gold Standard Ventures Corp. [GSV-TSX, NYSE American] has confirmed its ownership in certain properties situated in the southern portion of the company’s Railroad-Pinion Project on Nevada’s Carlin Trend.

Gold Standard is hoping to prove that Railroad-Pinion can be the next successful mine on the Carlin Trend. On Tuesday April 24, the company said recent disclosure by another corporation with mineral projects adjacent to the Railroad-Pinion project has led to confusion and uncertainty regarding the property boundary of the Railroad-Pinion Project. That prompted concerned shareholders and other market participants to contact the company seeking clarification.

“A detailed review of the relevant property boundaries for the Railroad-Pinion project confirms Gold Standard’s public disclosure regarding its ownership/control of its Railroad-Pinion Project is correct,” the company said in a press release Tuesday.

“Unfortunately, recently released exploration target maps and sample locations disclosed by the other corporation erroneously overlap lands which are subject to Gold Standard’s control,” the company said.

Gold Standard has large property positions on both the Carlin and Battle Mountain gold trends, the most productive gold producing areas in Nevada. The company’s flagship project, the Railroad Gold Project, is located on the Carlin Trend. It has another property, the Lewis Project, located on the Battle Mountain Trend.

Gold Standard has budgeted US$25.8 million in 2018 for exploration on the Railroad-Pinion Project, which covers 208 km2, and features the newly discovered Dark Star deposit, the near surface oxide-gold Pinion deposit and classic Carlin-style North Bullion deposit.

The program includes an estimated 74,800 metres of reverse circulation and core drilling in 381 holes. Infill and development work at Dark Star and Pinion is expected to account for approximately 40,800 metres of drilling in 296 holes, while exploration should add another 34,000 metres of drilling in 85 holes.

The Pinion deposit now has a NI 43-101 compliant resource estimate consisting of an indicated mineral resource of 630,300 ounces of gold and an inferred resource of 1,081,300 ounces.

The Dark Star deposit, 2.1 km east of Pinion, has a NI 43-101 compliant resource estimate consisting of an indicated resource of 265,100 ounces gold and an inferred resource of 715,800 ounces. The North Bullion is a high-grade sulphide deposit, located 7 km north of Pinion, and hosts 90,100 ounces gold in the indicated resource category and 805,800 ounces inferred using a cut-off grade of 0.14 grams.

Gold Standard CEO Jonathan Awde recently said drilling results at the Dark Star deposit continue to show that the deposit is taking shape as a potentially exceptional opportunity.

On Tuesday, Gold Standard shares were unchanged at $2.18 on the Toronto Stock Exchange were they trade in a 52-week range of $2.70 and $1.61.

The company said Tuesday’s announcement is not being made at the request of the British Columbia Securities Commission or any other regulatory authority.

Gold standard is a 9.9% owned affiliate of Goldcorp [G-TSX; GG-NYSE]. Another key shareholder is OceanaGold [OGC-TSX, ASX] which has 15.8%.


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Filed in: Gold, Resources

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