Gold Standard Ventures (GSV:TSXV) a former TSX Venture 50 Company and junior gold stock, appears to have hit the mother lode in Nevada. While the company has been putting out high-grade results for years, nothing compares to the hole it reported Tuesday morning.
Gold Standard reported:
“DS16-08 intersected a thick, vertically-extensive, oxidized intercept of 126.2m of 3.95 g Au/t approximately 100m south of discovery hole DS15-13.”
These are company making results. Plain and simple. Its why companies raise money and explore.
While already well established in the region, Gold Standard Ventures soared 27% Tuesday on more than 1.1 million shares traded (by 11:30 AM EST) to a high of $2.59 per share.
Gold Standard’s market cap has now crested above $510 million.
Gold bull market heating up
In a gold bull market, positive news or a discovery can ignite an whole region and draw an entire demographic of investors into one specific play.
We saw this following Noront’s discovery of the Ring of Fire region in the James Bay Lowlands of Northern Ontario. More recently, the Clayton Valley lithium region in Nevada has been a prolific area play resulting in tens of millions raised for exploration.
While Nevada needs no introduction to the mining community, expect plays surrounding Gold Standard’s Railroad-Pinion Project in Nevada’s Carlin Trend to catch a serious bid in the days and weeks following this news.
Gold Standard CEO trumps “outstanding economic potential”
Gold Standard’s CEO, Jonathan Awde, made a few short and sweet comments in regard to the discovery:
“North Dark Star is continuing to exceed our expectations and is becoming a major Nevada (Carlin) gold discovery. With these first few holes, we have successfully found the orientation of the thick, high grade mineralized zone discovered last year. We will now be focusing more of our current drill program on the North Dark Star area while also enhancing access so we can extend the drill season as late as possible. Near surface, oxide deposits with these grades clearly have outstanding economic potential.”
Click here to read the entire press release, titled Gold Standard Intersects 126.2m of 3.95 g Au/t at North Dark Star Oxide Gold Deposit, Carlin Trend Nevada.
Gold Standard’s share price is now back within striking distance of its 52-week high. The company has had an unforgettable year to date and is representative of the exchange it calls home. The TSX Venture charged higher to yet another 52-week high Tuesday – 821.50. Click here to read TSX Venture continues epic rally into August, which I published yesterday.
Gold Standard Ventures – 1 Year Chart
As Gold Standard Ventures‘ recently discovered North Dark Star oxide gold deposit expands, expect lesser-known Nevada gold stocks to be popping up on your screen.
In preparation for the current gold bull market on the TSX Venture, we published a mining specific EBook where we reveal 50 leaders who took small-cap stocks to stunning multimillion and, in some cases, billion dollar buyouts. The companies these leaders run today are described in this one of a kind rolodex of some of the top entrepreneurs and business minds in the small-cap mining, technology and energy sectors.
This article represents solely the opinions of Alexander Smith. Alexander Smith is not an investment advisor and any reference to specific securities in the list referred to in the article does not constitute a recommendation thereof. Readers are encouraged to consult their investment advisors prior to making any investment decisions. The information in this article is of an impersonal nature and should not be construed as individualized advice or investment recommendations.
