Drilling at seven holes in the Dixie site may point to a new geological interpretation.
Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) recently reported systematic drilling results at the Dixie Target on its 100%-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend. The results were from seven reverse-circulation ("RC") drill holes. Dixie is located within the highly prospective north-striking Dark Star Corridor.
"We are very excited by the potential for a significant deposit at Dixie. This target was known historically but the geology was misunderstood at the time. Our technical team recognizes that Dixie has many similarities to the high-grade deposit at North Dark Star, including the same host rock and structural setting that we have learned to value in our five years of intensive exploration at Railroad-Pinion. The key favorable features appear to exist along Dixie's 2000 meters of known strike length and potentially along the entire 12 km. length of the Dark Star corridor, which would be a major development. With just under $40 million in our treasury, we have lots of room to pursue this and other opportunities in the district," explained Jonathan Awde, the company's CEO and Director.
Some of the most important insights generated by the drilling were:
- DX18-06 intersected 1m of 1.05 g Au/t, including 13.7m of 1.63 g Au/t and 9.1m of 2.30 g Au/t.
- DX18-07, located 100m south of DX18-06, intersected 33.5m of 0.65 g Au/t, including 3.0m of 2.25 g Au/t and 3.0m of 1.08 g Au/t.
- DX18-05, located 230m west of DX18-07, intersected 24.4m of 0.18 g Au/t up dip from DX18-07.
One of the key points about DX18-06 and DX18-07 is that a new geologic interpretation was created which may indicate the presence of a target that can be found along the entire length of the 12-kilometer Dark Star Corridor.
"Continued success in the Penn-Perm rocks illustrates the elevated exploration potential across the southern property acquisition completed in 2017. The thick intercepts in DX18-06 and DX18-07 at Dixie illustrate that Dark Star-like intercepts are possible anywhere Penn-Perm rocks have been exposed to structural preparation and mineralizing fluids within the dike-filled corridor. The new geologic interpretation is being applied at Dixie to hone in on higher-grade mineralization and to expand this zone. Continued success at Dixie and the thick, plus 1-gram intercepts shows Dixie as a high priority target worth advancing toward a maiden resource," said Michael Harp, Gold Standard's project geologist at Dixie.
Gold Standard Ventures is an advanced-stage gold exploration company headquartered in Vancouver, Canada.