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Gold Standard C$30M bought deal for South Railroad

Gold Standard Ventures has announced a C$30 million bought deal financing led by BMO Capital Markets to obtain funds for development, permitting and exploration activities at its South Railroad gold project on the Carlin trend in Nevada, USA.
Gold Standard C$30M bought deal for South Railroad Gold Standard C$30M bought deal for South Railroad Gold Standard C$30M bought deal for South Railroad Gold Standard C$30M bought deal for South Railroad Gold Standard C$30M bought deal for South Railroad

Gold Standard Venture's South Railroad project in Nevada, USA

Staff reporter

A February 2020 pre-feasibility study on the Dark Star and Pinion deposits of the project featured an initial capex of US$132.9 million for annual production of 115,250 ounces over an eight-year mine life from an open pit oxide heap leach operation with an average grade of 0.82 grams per tonne gold. A feasibility study is underway.

Pinion hosts 364,000 ounces of proven and probable reserves while the adjacent Dark Star hosts 883,000oz. Pinion has measured and indicated resources of 544,000oz while Dark Star hosts 921,000oz.

Shares in Gold Standard Ventures are trading at C94c, valuing the company at $296 million.