Gold Standard Provides an Update on Pinion Drilling and Other
Corporate Matters
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 5, 2014) - Gold
Standard Ventures Corp. (TSX-VENTURE:GSV)(NYSEMKT:GSV)(NYSE
Amex:GSV) ("Gold Standard" or the "Company") announces that one
core and four reverse circulation holes have been completed in the
Phase I drilling program at the Pinion Project. Drilling at sites
Core D, RC-1, RC-7, RC-8 and RC-9 is complete and represents
approximately 35% of the Phase 1 Pinion drilling (click the
following for Pinion drill hole map:
http://goldstandardv.com/proposed-pinion-holes/). The targeted
multi-lithic collapse breccia host has been intersected in all five
holes. Samples from the five completed holes are being assayed by
ALS Chemex and all results are pending.
The Phase 1 program consists of thirteen vertical drill holes
designed to confirm and verify historic drill results in the Pinion
North and Main Zones, test the predictability of the new geological
model, expand the limits of known mineralization, and collect
material for density and metallurgical testing in advance of an
initial NI-43-101 resource estimation.
The Phase 1 drilling is a limited program but will allow for a
systematic build-up of the geologic model and resource, with a more
substantial Phase 2 planned for the second half of 2014. At Pinion,
gold is hosted in an oxidized, flat to gently dipping, dissolution
collapse breccia. Lateral extent and continuity of gold
mineralization is excellent due to the channeling of the gold
system within highly permeable collapse breccia sandwiched between
relatively impermeable, silty micrite of the overlying
Mississippian Tripon Pass Formation and thick bedded, calcarenite
of the underlying Devonian Devil's Gate Formation. Previously
unrecognized, intrusive rocks occur within the deposit and indicate
the presence of important deep-seated, through-going conduits.
The Company also announces that it has re-scheduled its 2014
annual general meeting (the "2014 AGM"), including fixing a new
record date, from June 26, 2014 to September 9, 2014.
The Company's audited consolidated financial statements for the
fiscal year ended December 31, 2013 (the "2013 Financial
Statements") to be presented to shareholders at the 2014 AGM are
included in the Company's Form 20-F dated April 28, 2014 filed with
the Securities and Exchange Commission and applicable securities
regulators in Canada. These financial statements are available on
EDGAR at www.sec.gov and on SEDAR at www.sedar.com, and also our
website at www.goldstandardv.com.
The audit report of our independent registered public
accountants to the 2013 Financial Statements contains a going
concern explanatory note resulting from the need for external
financing to fund operations and exploration activities after 2014.
This press release and public confirmation of the going concern
note is required by Section 610(b) of the NYSEMKT Company Guide,
which requires a listed company that receives an audit report that
contains a going concern qualification to make a separate public
announcement in the United States.
Further to our news release of May 30, 2014 in connection with
the proposed sale of the Company's non-core early exploration
assets to Tanqueray Exploration Ltd. ("Tanqueray") and the
changeover of David Mathewson from Gold Standard to Chief
Exploration Officer and interim President and CEO of Tanqueray, the
Company has agreed to pay Mr. Mathewson a transition payment equal
to one year's salary, being US$220,000, of which US$55,000 is
payable in 3 monthly cash installments of US$18,333.33 and, subject
to acceptance of the TSX Venture Exchange and NYSE-MKT, the balance
of US$165,000 through the issuance of approximately 248,338 common
shares of the Company at a deemed price of C$0.72 per share.
Sampling Methodology, Chain of Custody, Quality Control and
Quality Assurance:
All sampling was conducted under the supervision of the
Company's project geologists and the chain of custody from the
drill to the sample preparation facility was continuously
monitored. Core was cut at the company's facility in Elko and one
half was sent to the lab for analysis and the other half retained
in the original core box. A blank, quarter core duplicate or
certified reference material was inserted approximately every tenth
sample. The samples are delivered to ALS Minerals preparation
facility in Elko. The samples are crushed and pulverized and sample
pulps are shipped to ALS Minerals certified laboratory in
Vancouver. Pulps are digested and analyzed for gold using fire
assay fusion and an atomic absorption spectroscopy (AAS) finish on
a 30 gram split. All other elements are determined by ICP analysis.
Data verification of the analytical results includes a statistical
analysis of the duplicates, standards and blanks that must pass
certain parameters for acceptance to insure accurate and verifiable
results.
The scientific and technical content and interpretations
contained in this news release have been reviewed, verified and
approved by Steven R. Koehler, Gold Standard's Manager of Projects,
BSc. Geology and CPG-10216, a Qualified Person as defined by NI
43-101, Standards of Disclosure for Mineral Projects.
ABOUT GOLD STANDARD VENTURES - Gold Standard is an advanced
stage gold exploration focused on district scale discoveries in
Nevada. The Company's flagship project, the Railroad-Pinion Gold
Project, is located within the prolific Carlin Trend. The recent
Pinion gold deposit acquisition offers GSV a potential near-term
development option and further consolidates the Company's premier
land package in the Carlin Trend. Gold Standard is moving towards
building NI 43-101 compliant gold resources at both the near
surface, oxide-gold Pinion deposit and the classic Carlin style,
North Bullion gold deposit in 2014.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) nor
the NYSEMKT accepts responsibility for the adequacy or accuracy of
this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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. All statements, other than statements of
historical fact, included herein including, without limitation,
statements about our proposed financing are forward looking
statements. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Risk factors affecting the Company
include, among others: the results from our exploration programs,
global financial conditions and volatility of capital markets,
uncertainty regarding the availability of additional capital,
fluctuations in commodity prices; title matters; and the additional
risks identified in our filings with Canadian securities regulators
on SEDAR in Canada (available at www.sedar.com) and with the SEC on
EDGAR (available at www.sec.gov/edgar.shtml). 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.
On behalf of the Board of Directors of Gold Standard,
Jonathan Awde, President and Director
Gold Standard Ventures Corp.Jonathan
AwdePresident604-669-5702info@goldstandardv.comwww.goldstandardv.com
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