Source: The Gold Report 04/20/2017
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.
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 …read more