VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - Gold Standard Ventures Corp. ("Gold Standard") (TSX VENTURE:GV)(OTCQX:GDVXF) (www.goldstandardv.com) announced today that it has received positive assay results from the first two holes drilled at its 100%-owned East Camp Douglas project, in the Walker Lane District of Nevada.
ECD12-1, a -60 degrees hole completed to 786.5 feet (239.7m) on the Joe Vein target. ECD12-01 intersected 30 feet of 0.029 ozAu/st (9.1m of 1.0g/t) from 0 to 30 feet (0 to 9.1m), and 57 feet of 0.065 ozAu/st (17.4m of 2.31g/t) from 520 to 577 feet (158.5 to 175.9m), including an interval of 4 feet of 0.273 ozAu/st (1.2m of 9.4g/t). ECD12-03, a -60 degrees hole completed to 956.8 feet (291.6m) on the North Camp Douglas target intersected 135 feet of 0.015 ozAu/st (41.1m of 0.503g/t) from 375 to 510 feet (114.3 to 155.5m).
ECD12-01 and ECD12-03 are the first two holes of a ten hole, phase I drilling program now in progress. "These are encouraging results from the first of several targets to be tested within this geologically diverse, district-scale, prospective gold opportunity," states Dave Mathewson, Gold Standard Ventures' Vice President of Exploration.
The East Camp Douglas project is located approximately 7 miles west of Mina in Mineral County, on the Walker Lane Gold Belt, Nevada. The leased property position is comprised of 277 unpatented lode claims and 80 acres of fee land (approx. 5500 acres). A 30 hole drilling program has been designed, permitted and bonded. Phase I drilling, comprised of about 10 holes to be completed on, or about June 1 of this year, will provide an initial test of several targets. Holes ECD12-07 and 08 are now in progress. This is the first core drilling conducted on the property. The program is testing multiple target opportunities identified through detailed geological mapping, surface sampling, and district-wide dipole IP (induced polarization/resistivity) survey. The potential presence of both low-grade bulk mineable and high-grade, bonanza vein targets in both high sulfidation and low sulfidation geological settings is indicated.
Gold Standard also reports an interesting zone of silver mineralization at its Railroad project in hole RR12-01The gold values for this hole were announced previously on April 26, 2012.This silver intercept consists of 30 feet of 9.32 ounces of silver from 1225 to 1255 feet (9.1 meters of 319.5 gAg/t from 373.4 to 382.5 meters), including one 5 foot interval of 25.5 ozAg/st, and a 4.5 foot interval of 22.6 ozAg/st (876 and 775gAg/t, resp.)
RR12-01 contains the thick, high-grade gold results reported on April 26, 2012 ... 537 feet of 0.099 ozAu/st from 779 to 1316 feet (164m of 3.38g/t from 237.4 to 321.6m) This intercept also includes 140 feet of 0.274 ozAu/st from 915 to 1055 feet (42.7m of 9.40g/t from 278.9 to 321.6 meters). The silver results reported herein followed the earlier gold assay report.
"We have been encountering local but generally thin zones of silver mineralization within and, in some localities, separate from the gold mineralization, but this is the thickest and best grade of silver we have encountered in our drilling to date. This 30 foot thick 9.3 ozAg/st zone occurs below the high grade gold zone encountered in RR12-01 within a gold zone averaging about 1g/t. This intercept potentially represents economically significant thickness and grade of silver mineralization. The silver is not accompanied by elevated base metals and appears to be associated with the gold-related epithermal emplacement of metals. These silver results, in addition to the gold assay results, demonstrate the presence of an unusually strong, and diverse precious metal system in the North Bullion target zone," Mathewson said. Currently at the North Bullion target, two core rigs are drilling holes RR12-04 and RR12-05, resp. Hole RR12-03, angled at -65 degrees east and located on site RR11-03 was lost at 600 feet. Hole RR12-05, at -75 degrees east, is being drilled at the same site as RR12-03 and is now progressing satisfactorily. | | |