Exploring For Gold In Nevada
Nevada has long been known as a pro mining state. Going back into the 1800's Nevada was the place to be. Known today as the silver state, Nevada had is share of booms and busts. Although it was silver that was mined mostly back then during it's wild west days, there was gold being mined also. Nevada is home to the Carlin Trend, North America's most prolific gold-producing area and the second-largest known gold resource in the world. Numerous sources estimate the amount of gold contained in the trend may contain up to 180 million ounces of gold. It's in this resource that we are going to take a look at a junior miner that is actively working today to get it's share of theat 180 million ounces.
Gold Standard Ventures GSV is an advanced stage gold exploration company focused on a district scale discovery on it's Railroad-Pinion gold project in Nevada's Carlin Trend. The Project is located at the southeast end of the Carlin Trend, a northwest alignment of sedimentary rock hosted gold deposits that hosts some of the world's largest gold mines. More than 40 separate gold deposits have been delineated along the Carlin Trend since the 1960's and those estimates of reserves are around 100 million ounces.
The company's main property of interest is called the Railroad-Pinion Gold Project. The 100% owned and controlled project, covers approximately 115 km2 (45 miles2) including the recent Pinion deposit acquisition which is located in North Central Nevada. The project property is located right close to Newmont's Rain and Emigrant mines, and is 47 kilometers southwest of Elko. Resources at Pinion are 423k ounces indicated + 1,022k ounces inferred while at Dark Star there is 375k ounces inferred.
Also there is another grouping of claims called North Bullion. This deposit was the first significant gold discovery made by the company and there is also the Bald Mountain target which is an additional new oxide-gold discovery situated near the Bullion Intrusion which is in Central Railroad.
In the companies last news release in November they published drill results that confirm a discovery of a substantial new, higher grade oxide gold zone north of the Dark Star Deposit which is also part of the Railroad - Pinion project. Results from a a reverse-circulation (RC) hole drilled 515m north of the Dark Star maiden resource, returned an oxidized zone of 157.0 meters of 1.51 grams gold per tonne (g Au/t) among multiple, significant intercepts containing gold values above the cut-off grade of 0.14 g Au/t established by APEX Geoscience Ltd.
As far as stock performance goes, Gold Standard is by far out performing most mining stocks at this time. While most stocks remain mired in all time lows, the stock price here has done quite well. There is 187 million shares out there with 50% being held by institutions. Insiders hold another 13%.
In other news, we hope to be hearing some news very shortly from New Carolin Gold Corp. LAD in regards to further developments with the Ladner Gold Project which has been discussed about lately right here.
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