DGAP-News: GOLD STANDARD ACQUIRES LEASES ADJACENT TO RAILROAD PROPERTY FROM NEWMONT
(firmenpresse) - DGAP-News: Gold Standard Ventures Corp. / Key word(s):
Alliance/Miscellaneous
GOLD STANDARD ACQUIRES LEASES ADJACENT TO RAILROAD PROPERTY FROM
NEWMONT
13.05.2011 / 05:30
---------------------------------------------------------------------
GOLD STANDARD ACQUIRES LEASES ADJACENT TO RAILROAD PROPERTY FROM NEWMONT
May 12, 2011
Vancouver, B.C., - Gold Standard Ventures Corp. ('Gold Standard') (TSXV:
GV; OTCQX: GDVXF) www.goldstandardv.com announced today it has entered
into a 'Minerals Lease and Agreement' to lease four sections totaling 2,560
acres (the 'Lease') from Newmont USA Limited, a subsidiary of Newmont
Mining Corporation[cc1] . Two of the four sections are staked public lands
which carry no underlying royalty. The other two sections are private
surface and minerals lands subject to an underlying 5 % net smelter royalty
(NSR). With this acquisition, Gold Standard owns or controls 22 square
miles, or more than 14,000 acres, of prospective target area on the
prolific Carlin Gold Trend.
The Lease lies between the Rain mining district to the north and the
Railroad district controlled by Gold Standard Ventures. Gold Standard's
North Bullion fault target is immediately south and east of the east flank
of the Lease. Holes drilled in 2010 by Gold Standard on the North Bullion
fault target encountered thick intercepts of 1+ gm/t gold. This acquisition
allows Gold Standard to expand its assessment of this target to the west
and potentially develop new targets.
'We don't know exactly where our exploration will lead us but it seems very
logical that the area between two adjacent mining camps covering two of the
four windows on the Carlin Gold Trend constitutes a real opportunity. The
Rain and Railroad windows consist of intrusive-centered, geologic domes
with locally gold-bearing, permissive rock units exposed at the surface.
Deposits of note in the Rain district include Rain, Northwest Rain, Tess,
Saddle and Emigrant. Very little exploration has been conducted to date
between these two centers of mineralization,' states Dave Mathewson, Gold
Standard Venture's Vice President of Exploration. 'We look forward to
applying the most advanced exploration methods available to evaluate the
potential of this area in the process of developing our current
discoveries.'
Under the terms of the agreement, the Company will be subject to escalating
yearly work commitments in the aggregate amount of US$2.5 million over a
period of six years. The first year is free of spending commitments and
Gold Standard will incorporate this area in a planned detailed structural
mapping program of the district.
Newmont has a first back-in right on or before delivery of a positive
feasibility study, enabling Newmont to earn a 51% interest in the Lease by
incurring expenditures totaling 150 per cent of the expenditures made by
Gold Standard. Should Newmont not back in, Newmont will deed the claims
and assign the leases on the fee lands to GSV in exchange for GSV executing
a royalty deed conveying a 3% Net Smelter Return Royalty on the claims and
a 1% Net Smelter Return royalty on the fee lands to Newmont.. The royalty
paid to Newmont would be less any underlying royalties, subject to a
1-per-cent minimum. Should Newmont exercise it first back-in, it has a
second back-in right to earn an additional 19% interest in the Lease by
expending an additional 100 per cent of the expenditures made by Gold
Standard. The project would then revert to a Newmont/Gold Standard
(70-per-cent/30-per-cent) joint venture.
Gold Standard President and CEO John Awde noted that Gold Standard has not
agreed to back-in rights on any of its other properties 'but this
opportunity is exceptional because the land is contiguous with one of our
best targets and gives us plenty of room to pursue that target. If we are
successful at North Bullion, we have already tied up the neighboring
ground.'
The lease agreement is subject to regulatory approval.
ABOUT GOLD STANDARD VENTURES - Gold Standard Ventures is focused on the
acquisition and exploration of gold projects in North Central Nevada.
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
---------------------------------------------------------------------
13.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
124517 13.05.2011
Datum: 13.05.2011 - 05:30 Uhr
Sprache: Deutsch
News-ID 34083
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 240 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: GOLD STANDARD ACQUIRES LEASES ADJACENT TO RAILROAD PROPERTY FROM NEWMONT"
steht unter der journalistisch-redaktionellen Verantwortung von
Gold Standard Ventures Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
