VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/13 -- Gold Standard Ventures Corp. (TSX VENTURE: GSV)(NYSE MKT: GSV)(NYSE Amex: GSV) ("Gold Standard" or the "Company") (www.goldstandardv.com) today released new results from Phase 1 drilling of the North Bullion Fault Zone (NBFZ) deposit at its 100% controlled Railroad Project in Nevada's Carlin Trend. The results extend the 1 to 3 gram envelope of gold mineralization at NBFZ to the north and to the south by more than 1500ft (approx. 500m), with holes RR12-27 (approx. 55ft of 0.057 oz Au/st (16.8m of 1.95 g/t Au)) and RR12-24 (132 feet of 0.039 oz Au/st (40.2m of 1.34 g/t Au)) confirming continuation of mineralization to the south. The envelope now appears to stretch from hole RR11-9 in the north to hole RR12-24 in the south, a total of more than 3000ft (approx. 1000m), and it remains open in multiple directions. The high grade zone that lies within this envelope ranges from 5 to 15 grams per tonne gold and has been traced to date for about 900ft (300m) in contiguous drill holes RR11-16, RR12-1, and RR12-10. (Please see drill hole location map at http://goldstandardv.com/images/nbzf-drill-holes.jpg )
In Phase 1, the drilling was carried out at approximate 300ft (100m) spacings in a west-to-east orientation, which was determined to be the most effective direction for successfully exploring the size and continuity of the NBFZ deposit. Analysis and interpretation of the Phase 1 drill results has led to the conclusion that a west-to-east orientation has likely drilled sub-parallel to high grade feeder zones, the known source of the mineralization in the larger lower-grade envelope. Phase 2 definition drilling has now begun which will be oriented from east to west, to cut across the anticipated feeder zones at higher angles. The spacing of Phase 2 will be tighter, at approximately 160ft (approx. 50m), and will focus primarily on the high grade centre as indicated by Phase 1 drill holes, with step-outs and offsets to follow the high grade zones as warranted. Initially, this definition drilling program will consist of approximately 10 to 12 holes, with potential for additional holes based on results.
Dave Mathewson, Gold Standard's Vice President of Exploration, states that: "Phase 1 drilling has affirmatively answered the question as to whether or not the NBFZ deposit has the size and continuity to support a large, Carlin-style deposit. At this point, we understand enough about the deposit's controls to begin the process of definition drilling, initially in the central portion of the deposit. We expect the change in drill orientation to cut additional high grade feeder zones," he said.
"Carlin-type gold deposits tend to occur within structural corridors. We expect to see periodic recurrences of the NBFZ deposit along the Bullion Fault Corridor, in a predictive fault-generated pattern typical of Carlin systems. Surface geochemistry, gravity and CSAMT geophysical data indicate that the Bullion Fault Corridor is highly prospective for at least 5 miles (8 kilometers) to the south. We will continue to pursue extensions of the NBFZ deposit and we will also explore for additional NBFZ-style deposits along the Bullion Fault Corridor to the north and south. Previously, we had not been able to get to the southern extension of the corridor because of a combination of unsecured mineral rights and permitting limitations but these issues have now been resolved," Mathewson said.
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