- Gold Standard (GSV) has announced its 2020 exploration program, for its Railroad-Pinion project in Nevada
- The company will sink 136 drill holes into the property as part of a 2,000-metre program
- Gold Standard hopes to upgrade the resources category for the site’s Pinion deposit, while also developing a feasibility study for the Southern Railroad project
- The work is being funded by Orion Mine Financing, which secured roughly 21 million shares in Gold Standard in exchange for just under C$21 million
- Gold Standard (GSV) is in a trading halt and last traded at $1.08 per share
Gold Standard (GSV) has revealed its 2020 exploration plans for the Railroad-Pinion project in Nevada.
The Railroad-Pinion project is wholly-owned by Gold Standard and lies in the Carlin Trend, which sparked the American gold rush in the 1800’s.
The exploration program on Railroad-Pinion will involve 136 holes and 20,410 metres of work into the site.
The robust program aims to convert the Pinion deposit from an inferred resource to a measured and indicated resource.
The company will also test surface level targets on the Dark Star deposit, alongside building out the feasibility study at the South Railroad project through mineral expansion.
Finally, the company also hopes to begin exploration drilling at the LT Oxide discovery, which has not yet been drill tested.
To fund the drilling, the company secured an investment from Orion Mine Finance in April of this year. Orion acquired approximately 21 million shares in the company in exchange for approximately C$20.93 million in cash.
CEO and Director of Gold Standard, Jonathan Awde said the pre-feasibility study had demonstrated that South Railroad was a robust project at gold prices well below current level.
“What we want – and what we expect – is a longer mine life to drive prospective returns to another level as we move the project through feasibility.
“To achieve this objective, we have designed this year’s programs to upgrade known inferred resources to indicated and also better define the potential in recently discovered new targets.
“We are also very pleased to have Orion as a new strategic shareholder in the company and look forward to potential financings from them in the future,” he said.
Gold Standard (GSV) is currently in a trading halt and last traded at C$1.08 per share.