Gold Standard Ventures – Nevada Leases

Campaign poster showing William McKinley holding U.S. flag and standing on gold coin “sound money”, held up by group of men, in front of ships “commerce” and factories “civilization”. (Photo credit: Wikipedia)

Gold Standard Ventures* (GSV : TSX-V : $1.64)

Gold Standard Ventures bucked the trend, rallying after releasing additional information on leases it entered into (originally announced on March 28, 2012) with various land holders encompassing approximately 4,128 net mineral acres of land adjacent to the company’s flagship Railroad gold project in Elko County, Nevada.

The leases grant Gold Standard the exclusive right to explore, mine and develop varying percentage holdings in portions of what the company calls the “South Railroad Project,” which includes the Pinon district. Specifically, these leases give them control of approximately 32% of strategic sections in the Pinon district, which includes the historic South Bullion and Trout Creek deposit (together known as the Pinon deposit).

Gold Standard highlights that the geologic and exploration data exist for them in recognized peer-reviewed publications. For the Trout Creek Deposit, a paper entitled “Geology of the Trout Creek Disseminated Gold Deposit, Elko Co. Nevada” authored by Phillip Jackson and Joseph Ruetz states that “preliminary geologic reserves are estimated at 150,000 contained ounces of gold and mineralization is open-ended. Gold and silver ratio is about 1:8.”

Another paper entitled “Geology and Mineralization at the South Bullion Deposit, Pinion Range, Elko Co., Nevada: Implications for Western United States Cenozoic Tectonics” authored by Borden Putnam and Edmund Henriques states that “Newmont Exploration Ltd (NEM) has identified a drill inferred geologic resource exceeding 20 million tons at an average grade of 0.026 oz/st Au, based on 0.01oz/st cutoff, 20 foot minimum bench, and a density of 13 cubic feet per short ton, for a total of 520,000 contained ounces.”

Gold Standard cautions that these historic resource and reserve estimates were derived from data assembled prior to the introduction of National Instrument 43-101. Note, the remaining interests in these lands are held by others including Manhattan Mining Company on behalf of Royal Standard Minerals.

Gold Standard President and CEO Jonathan Awde stated, “As matters now stand, development of Pinon will have to be undertaken jointly by its owners. We look forward to achieving a mutually beneficial arrangement for all parties to advance the Pinon deposit.”