The Gold Report - Tue, Jul 11, 2017

Updated Resource Estimate for Nevada Gold Project Increases Overall Ounces by 162%

An NI-43-101-compliant resource estimate for the Dark Star gold deposit, part of this company's 100%-owned Railroad-Pinion Project, beat one analyst's expectations and was called a "good start" by another.


In a June 29 press release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) reported "an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 grams per tonne (g/t) gold (Au), totaling 265,100 ounces of gold, and an Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.20 g Au/t."

Brian Szeto, an analyst with PI Financial, provided this assessment of the company's news in a June 29 research report. "Total resources at Dark Star [have] increased from 375Koz (at 0.51 g/t gold) to 981Koz (at 0.94 g/t gold) which represents an 85% increase in grades and 162% increase in overall ounces. . .we highlight that this resource update includes an initial resource from the high grade North Dark Star zone which hosts a resource of 716Koz (at 1.31 g/t gold) which came in better than our expectations of 500Koz (at ~1.5 g/t gold)."

Macquarie Securities Group's Michael Gray summed it up this way in a June 29 Morning Notes brief: "Good start/initial resource for the New Dark Star oxide complex. . .the resource does not include any sulphides, was estimated at a $1250 gold price with a 0.20g/t cut off. We have modelled 1.35moz at 1g/t and expect infill/expansion drilling to grow the resource. GSV plans +12km drilling in 2017 and has just received drill permits."

Szeto also noted that "mineralization still remains open in a number of directions." The Railroad-Pinion project lies on Nevada's productive Carlin Trend.

"Overall, we view this resource update positively given the substantial increase in resources where the initial resource from North Dark Star also came in substantially better than expected," Szeto stated. "In addition, since North Dark Star will likely be the high grade starter pit, this will also have positive implications to the overall economics of the project. . .Looking forward, with the gold inventory of the project now achieving 500 critical mass, we believe Gold Standard will now begin the process of completing a PEA in Q317."

"Our discovery of North Dark Star in 2015 has made an important tonnage contribution to this resource estimate at a very desirable grade," Jonathan Awde, CEO and director of Gold Standard, stated in the company's press release. "We are very confident that this estimate will grow with this year's aggressive drill program."

1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
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