The stock of Gold Standard Ventures Corp (NYSEMKT:GSV), a Canada-based gold explorer, has jumped 602.63% higher from its 52-week low of $0.38, touched in October last year.
On Monday, Gold Standard closed at $2.67, up 4.71%, after trading 651.86K shares.
Investors have chased up the stock in sympathy with rising gold prices, and more recently, for the string of positive mining news released by the company.
Gold Standard Ventures Corp (NYSEMKT:GSV) on its 100% owned Pinion gold deposit in Nevada
In July Gold Standard said its bottle roll cyanide leach program on its Pinion oxide gold deposit returned weighted-average gold recoveries of 69.2% for 10 mesh material and 80.3% recovery for 200 mesh material.
Based on the results, Gary Simmons, Gold Standard’s consulting metallurgist, said “a significant percentage of the gold within the oxidized collapse breccia host at Pinion is recoverable using cyanide leach processing.”
There was more good news on August 9.
Gold Standard Ventures Corp (NYSEMKT:GSV) cheered on results at the North Dark Star oxide gold deposit at Pinion
On August 9, the company said it intersected 126.2m of 3.95 g Au/t at the North Star oxide gold deposit in its Railroad-Pinion Project in Nevada’s Carlin Trend. Jonathan Awde, CEO and Director of Gold Standard commented: “North Dark Star is continuing to exceed our expectations and is becoming a major Nevada (Carlin) gold discovery… Near surface, oxide deposits with these grades clearly have outstanding economic potential.”
On August 18, the company reported 101.2m of 1.50g Au/t at North Dark Star oxide gold deposit. “Continuing success at Dark Star is confirming a major Carlin gold discovery,” said Awde.
On September 14, the company said that the expansion of its North Dark Star High Grade Oxide Deposit continued with intercept of 56.2m of 1.83g Au/t. The results have increased the width of the deposit, the company clarified, and that higher-grade oxide mineralization projects up-dip to more shallow depths to the east of DS16-08 (drill hole).
On October 13, 2016, the company said it intersected 97.3m of 3.16g Au/t at the North Dark Star gold deposit. “Drilling at North Dark Star continues to find unusually high grades in oxide material,” said Awde. “I think we can now safely say that this deposit represents an important new discovery in the Carlin Trend and we have yet to establish its limits.”
Gold Standard Ventures Corp (NYSEMKT:GSV) cheered on assay results from its North Bullion Deposit at Railroad-Pinion
The company announced on August 30 that it intersected 8.5m of 11.16 g Au/t within 65.6m of 3.17 g Au/t at the North Bullion Deposit, Railroad District, Carlin Trend, Nevada.
“With these high-grade results and our increased drill efficiency, we are looking forward to drilling more holes at North Bullion and adding to this large gold system,” said Mac Jackson, Gold Standard’s Vice President of Exploration.
Technically, on the daily chart, the stock is on the cusp of breaking out from a falling flag formation, and could head much higher.