Vista Gold Corp. Reports Progress at Paredones Amarillos Project
18 Oktober 2007 - 1:48AM
PR Newswire (US)
DENVER, Oct. 17 /PRNewswire-FirstCall/ -- Vista Gold Corp. (Amex:
VGZ; TSX) announced today that it has selected the following
consulting firms to assist in preparation of a definitive
feasibility study for its Paredones Amarillos Project in Baja
California, Mexico. Research Development Inc. of Lakewood,
Colorado, is to complete the confirmatory metallurgical testing
program and define the process flow sheet. Mine Development
Associates of Reno, Nevada, is to update the mineral resource
estimate, determine proven and probable reserves, prepare the mine
plan and estimate the mine capital and operating costs. KD
Engineering of Tucson, Arizona, will be responsible for processing
engineering/design, infrastructure engineering/design and
estimating the processing capital and operating costs. Golder
Associates, Inc. of Tucson, Arizona, is to manage geotechnical
investigations and test work, provide guidance for the design of
structural foundations, determine the most suitable method for
disposal of the barren mill flotation tailings with the mine waste
rock and design the tailings storage facility including preparing
the associated capital and operating cost estimates. SRK Consulting
(US), Inc. ("SRK") will be responsible for the pit slope stability
determinations and has been retained to determine the optimum
source of water for the project including the use of municipal
waste water and desalinized or partially desalinized sea water. As
previously announced (see press release of August 13, 2007), SRK
was engaged to manage the preparation of the definitive feasibility
study as well as undertake an economic analysis of the project and
compile the final report. As also mentioned in the August 13 press
release, Corporacion Ambiental de Mexico, S.A. de C.V. ("CAM") has
been retained to manage the environmental permitting activities for
the project. CAM is a full-service environmental firm headquartered
in Mexico City with experience in mining project permitting in Baja
California. CAM recently reported to Vista that the environmental
and change of land use permits issued to Echo Bay Mines when it
held the project are still valid. The Corporation has presented all
of the studies and permitting documents for its proposed
metallurgical core drilling program and anticipates that it will
receive the required permits. When the permits are received, Vista
plans to expedite the start of drilling and the related
confirmatory metallurgical test program, which is expected to be
completed in the first quarter of 2008. Fred Earnest, President and
COO commented, "Vista is pleased to have this team of consultants
selected for the preparation of the Paredones Amarillos Definitive
Feasibility Study. Each company selected to participate in this
study has demonstrated strength in their area of expertise. We
believe that the combined experience of this team of consultants
will result in a quality feasibility study." About Vista Gold Corp.
Since 2001, Vista has acquired a number of gold projects with the
expectation that higher gold prices would significantly increase
their value. As gold prices have risen, Vista has completed various
preliminary evaluations that have demonstrated that some of the
projects would be potentially viable operations at current gold
prices. Vista is undertaking technical programs to bring the most
advanced projects to the point where decisions can be made to put
these projects into production, either by Vista, or through sale or
joint venture to other mining companies. Vista's holdings include
the Paredones Amarillos and Guadalupe de los Reyes Projects in
Mexico, Mt. Todd Project in Australia, Yellow Pine Project in
Idaho, Awak Mas Project in Indonesia, Long Valley Project in
California, and the Amayapampa Project in Bolivia. This press
release contains forward-looking statements within the meaning of
the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of
1934. All statements, other than statements of historical facts,
included in this press release that address activities, events or
developments that Vista expects or anticipates will or may occur in
the future, including such things as the performance of and results
of the planned bankable feasibility study for the Paredones
Amarillos Project, receipt of required environmental and other
permits for the project, timing for starting and completion of
drilling and testing programs, Vista's future business strategy,
competitive strengths, goals, operations, plans, potential project
development, future share price and valuation, future gold prices,
Vista's potential status as a producer, and other such matters are
forward-looking statements. When used in this press release, the
words "estimate", "plan", "anticipate", "expect", "intend",
"believe" and similar expressions are intended to identify
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Vista to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, risks that Vista's
acquisition, exploration and property advancement efforts will not
be successful; risks relating to fluctuations in the price of gold;
the inherently hazardous nature of mining-related activities;
uncertainties concerning reserve and resource estimates; potential
effects on Vista's operations of environmental regulations in the
countries in which it operates; risks due to legal proceedings;
risks relating to political and economic instability in certain
countries in which it operates; and uncertainty of being able to
raise capital on favorable terms or at all; as well as those
factors discussed in Vista's latest Annual Report on Form 10-K and
Quarterly Report on Form 10-Q and other documents filed with the
U.S. Securities and Exchange Commission and the securities
commissions in Canada. Although Vista has attempted to identify
important factors that could cause actual results to differ
materially from those described in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. Vista assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. For further information, please contact
Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp.
website at http://www.vistagold.com/ DATASOURCE: Vista Gold Corp.
CONTACT: Connie Martinez of Vista Gold Corp., +1-720-981-1185 Web
site: http://www.vistagold.com/
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