DGAP-News: Gold Standard to Spend $8 Million on Nevada Exploration in 2011 Drilling to Begin in May to Follow Up 2010 North Bullion Zone Gold Discovery
(firmenpresse) - DGAP-News: Gold Standard Ventures Corp. / Key word(s): Interim
Report/Interim Report
Gold Standard to Spend $8 Million on Nevada Exploration in 2011
Drilling to Begin in May to Follow Up 2010 North Bullion Zone Gold
Discovery
06.04.2011 / 16:10
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Gold Standard to Spend $8 Million on Nevada Exploration in 2011 Drilling to
Begin in May to Follow Up 2010 North Bullion Zone Gold Discovery
April 5, 2011
Vancouver, B.C., - Gold Standard Ventures Corp. ('Gold Standard') (TSXV:
GV; OTCQX: GDVXF) www.goldstandardv.com announced today it plans to spend
$8 million on exploration in 2011 using as many as four drills (three of
them core) to advance the Company's projects. The plan includes 20-25,000
meters of drilling in 40 to 45 holes with about 80% of the total directed
to targets on the Company's flagship Railroad project on the Carlin Gold
Trend.
Highlights include:
- Primary target: $6.5 million to be spent at Railroad. The main
objective is to follow up the North Bullion Fault zone discovery
announced January 20, 2011. This drill target has the potential to
blossom into a major, high-grade, Carlin-style deposit. Promising drill
targets have also been located in the Railroad Fault zone and the
historic Bullion Mining district. Exciting new targets have also
emerged in the data acquired from recent detailed gravity and soil
sample programs. Similar targets generated by the same methods have
resulted in major discoveries elsewhere in Nevada.
- Secondary targets: An initial 4 to 6 holes are planned for a bonanza
vein gold-silver target and a shallow, bulk disseminated gold zone at
East Camp Douglas located near Mina, Nevada; 2 to 4 holes are planned
for the early-stage Safford silver project, southwest of Carlin,
Nevada; and 2 to 3 holes are planned to provide a preliminary test of a
Rain district-like target south of Railroad.
In late 2010, three core holes completed on the North Bullion fault zone at
Railroad discovered broad intercepts of gold mineralization grading above
1.0 gram of gold per tonne (gpt) in a geological setting identical with
many Carlin-style high-grade gold deposits. These were the three northern
most holes completed in the program and their results clearly indicated a
north trend to mineralization. This discovery had three especially
favorable features: evidence of silicified collapse breccias in limestone
and capped by shale (a signature of many Carlin deposits); at reasonable
depths of 200 to 400 meters (many Nevada targets being explored today are
far deeper); and well within the Railroad property boundary (providing more
than enough room for a sizeable deposit). After this discovery, the drill
program was shut down for the winter.
Dave Mathewson, Gold Standard's Vice President of Exploration, said that
the immediate objective of this year's program is to establish the lateral
extent of the breccias and find their feeder structures which are generally
much higher grade. 'We have a strong, mineralizing fault in permissive
rocks with impermeable shale to pond the gold-bearing fluids. An example of
the kind of deposit we are looking for in this setting is Barrick's Meikle
deposit, located about 35 miles to the northwest, which reported 6.5million ounces of proven and probable reserves in 1995.' (8.5 million
tonnes grading 24.5 gpt) An initial 12 drill holes totaling about 7000
meters are planned for the North Bullion target which will be expanded with
success.
The Company is also pleased to announce that during the 1st Quarter of
2011, 2,198,184 warrants have been exercised, for a total of $2,096,502.30.
The funds received from this warrant exercise will enable the Company to
continue to aggressively proceed with its exploration drill program at
Railroad, while maintaining a solid balance sheet with minimal additional
share dilution. The Company currently has approximately $16,000,000 in
treasury.
The Company also announces that, pursuant to its stock option incentive
plan, it has granted certain employees, directors and advisors incentive
stock options to purchase 350,000 common shares of the company at an
exercise price of today's closing price for a period of 5 years.
The stock options are subject to the terms of the Company's stock option
plan and regulatory approval.
ABOUT GOLD STANDARD VENTURES - Gold Standard Ventures is focused on the
acquisition and exploration of gold projects in North Central Nevada. Gold
Standard currently holds a portfolio of projects totaling approximately
26,000 acres of prospective ground within North Central Nevada of which
15,349 acres comprise the flagship Railroad Gold Project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
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(at)goldstandardv.com
Website: www.goldstandardv.com
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. Investors are cautioned
that these forward looking statements are neither promises nor guarantees,
and are subject to risks and uncertainties that may cause future results to
differ materially from those expected. 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.
End of Corporate News
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118720 06.04.2011
Datum: 06.04.2011 - 16:10 Uhr
Sprache: Deutsch
News-ID 33722
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