Four key highlights from ongoing step-out and infill drilling at Dark Star were 161.5m at 3.33g/t gold, 136.6m at 3.36g/t, 112.8m at 1.42g/t and 92.9m at 1.22g/t.

"[This] drilling is taking us well beyond the current resource limits at Dark Star and also beyond our expectations for the district as a whole," CEO and director Jonathan Awde said.

"We are now revising the current programme to further test the depth potential in those areas where the structural plumbing system appears to support it.

"The results could have important implications for the future development of the district."

The results will feed into a preliminary economic assessment for Railroad-Pinion later this year and Gold Standard said it would give the opportunity to convert inferred resources to measured and indicated, which was important at Dark Star where 73% of the existing resource was inferred.

The OceanaGold (15.5%) and Goldcorp-backed company has a 2018 budget of US$25.8 million for exploration and development.

Goldcorp increased its stake last month from 9.86% to 12.73%.

Gold Standard had C$38 million (US$29 million) in cash at the start of June.

It shares have ranged between $1.50-$2.46 over the past year in Toronto and closed up 4c yesterday to $2.15.