By The Gold Report
Exploration company Gold Standard Ventures has reported multiple results from its Dark Star prospect at its 100%-owned Railroad-Pinon project over the past week and a half.
Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) has had a busy week with the agreement to acquire Battle Mountain Gold and the release of multiple results from its Railroad-Pinon project.
In an April 10 press release, Gold Standard Ventures reported the Dark Star prospect oxide zone had +88% cyanide soluble recoveries. The results “confirm the consistently oxidized nature of gold mineralization within the Main Dark Star and North Dark Star gold zones.” Gold Standard Venture’s metallurgical consultant Gary Simmons will now “proceed with the definition of composites for bottle roll and column leach tests.”
ROTH Capital Partners, PI Financial and Gold Speculator released positive reviews of the Dark Star results.
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ROTH Capital analyst Joe Reagor explained in an April 12 note that a combined PEA on Pinon and Dark Star deposits is probably next after the “well above our modeling assumption of an average recovery rate of 82% cyanide soluble” was reported. “We believe our estimates could prove conservative when GSV provides initial project economics. As a result of the strong recovery data for Dark Star, we are increasing our price target from $3.10 to $3.25. . .reiterating our buy rating,” Reagor concluded.
Brian Szeto with PI Financial, in an April 12 Corporate Update, reviewed the Dark Star results as a positive, pointing out that “the project can be mined via an open-pit heap-leach scenario which is a very low capital intensive and proven mining flow sheet.” Szeto maintains a buy rating and a target price of $3.70.
Gold Speculator’s Byron King highlighted on April 11 that Gold Standard Ventures is “cashed up, with a solid drilling program set to kick off when the weather breaks. Plus, there’s upside here as gold prices recover and move back onto an ascending pathway. Maintain buy on GSV, up to $3.25 per share.”
One week later, in an April 18 press release, Gold Standard Ventures announced positive results from a check assay program for the North and Main Dark Start deposits. “The ALS results increase the gold grades of several significant, previously released North and Main Dark Star drill hole intercepts by 2 to 5%.”
Jonathan Awde, CEO of Gold Standard, stated, “This thorough check assay program is an important step towards preparing a new resource estimate for the Dark Star area which will include the most recent drilling at Main Dark Star and North Dark Star. Our drilling last year established that these two deposits connect and we therefore expect the new resource estimate will report a total for greater Dark Star. At the same time, we are proceeding with more advanced metallurgical testing following last week’s positive announcement on the cyanide solubility of Dark Star oxide gold mineralization.”
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1) Melissa Farley compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares 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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