QualityStocks would like to highlight Gold Standard (NYSE Amex: GSV), a Canadian-based company focused on the acquisition and exploration of district-scale and other gold-bearing mineral properties exclusively in the State of Nevada. The company's flagship property is the Railroad Project, located in Elko County, Nevada. The Railroad Project is a prospective gold exploration target comprising approximately 15,636 acres (24.4 square miles) within the Carlin Trend of north-central Nevada.
In the company’s news yesterday,
Gold Standard Ventures reported good news on the North Bullion Fault Zone at their flagship Railroad Gold Project in Elko County, as the CSAMT (controlled-source audio-frequency magnetotelluric) geophysical survey has outlined the primary target area of high-grade gold mineralization discovered in recent drilling.
The CSAMT was done by Zonge International out of Tucson and has delivered encouraging data that looked at some 42% of the over six mile-long North Bullion Fault Zone structural corridor (in 12 lateral sections of about a mile each, every 500-1,500 feet along strike). The resistivity-based sensor technology has become very popular for mapping out unexposed structures and lithologies associated with gold mineralization throughout Nevada as one of the most rapid and accurate means of identifying rock units and structural breaks.
That CSAMT rock unit/break data correlates really well with the geological model developed thus far from cross-sectional drilling by the company, with the high-grade gold discovered in RR 11-16 and RR12-1 being a choice example of this correlation. The data gives us a very clear picture of the healthy slice of mineralization (mostly comprised of clastic and carbonate rock), with a key main target area of around 1,200 feet by one mile falling between two major anastomosing faults (reconnection of two branching out elements, as in a leaf’s veins).
VP of Exploration for GSV, Dave Mathewson, was relieved to see the results, expressing the diligence and considerable amount of time invested carefully interpreting geochemistry and geology from core drilling in order to develop a model of the North Bullion Fault Zone mineralization. The data gives GSV a much clearer, defined shape and location which also stretches into unexplored areas. Mathewson underscored tight correlation between the drilling and the CSAMT data model, pointing to the RR 11-16 and RR12-1 intercept (537 feet at 0.099 oz Au/st) correlations as fundamental to an improved outlook for the resource. In fact, the RR12-1 intersection included 140 feet at 0.274 oz Au/st including twelve, approximately five foot intercepts ranging from 0.3-0.75 oz Au/st (reported April 26, 2012).
Mathewson boldly stated that the data model now allows for a more vigorous step-out process from their relatively confined focus, indicating that a program of some 30 core holes was in planning for the North Bullion Fault Zone. Four holes are currently drilling the zone, something Mathewson noted as being a perfect example of usage for the recently completed financing. The developed data model thus far will help GSV to define some additional targets they have been looking at.
With a very clear portrait of the primary mineralization structure in hand, GSV is confidently proceeding at Railroad Gold’s superb North Bullion Fault Zone and the company is very optimistic about the project’s evolution. NI 43-101 Qualified Person for the report was GSV Manager of Projects, Steven R. Koehler, BSc. Geology.
Metal hounds will be leashed in moving forward this week in anticipation of the Wednesday afternoon release of FOMC meeting minutes, and if leading indications offer any projection, the FRS might be talking QE3, with at least more twisting (mortgage purchases) in store according to Goldman Sachs.
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