LONDON, ENGLAND / ACCESSWWIRE / June26, 2014 / Yesterday (June 25), Gold Standard Ventures Corp. ("GSV") released the assay results from the first 5 holes at the historic Pinion Gold Oxide Deposit on the Carlin Trend (Nevada, USA). The outstanding 8 drill holes of the phase-1 drill program are expected shortly as the publication of a maiden NI43-101 resource estimate is scheduled for July.
While analyzing the drill results and statements from GSV management, we came to the conclusion that Pinion is now on the way of becoming a mineable gold oxide deposit right at surface. Thanks to yesterday‘s new discovery of probably an entire gold system in the lower breccia zone, the potential for a +50% higher total resource has opened up.
In our Initiating Coverage and Update #1 we calculated a potential resource size of around 2 million ounces gold that could be discovered with the phase-2 drill program (starting July/August). After reviewing the latest drill results, we now anticipate a total resource of 3-4 million ounces on Pinion until the end of the year. Herewith, we are raising our price target by 50% (from C$2.80 to C$4.20/share). Our 50% increase in price target is based on the following interpretations:
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SOURCE: ROCKSTONE RESEARCH LTD.