DENVER, May 16, 2012 /PRNewswire/ -- Vista Gold Corp.
(TSX & NYSE MKT: VGZ) ("Vista" or the "Company") is
pleased to announce the initial results of a sampling and
metallurgical testing program on the existing heap leach pad at its
Mt. Todd gold project in Northern Territory, Australia. To
date, the existing heap leach pad has been considered an
environmental liability; however, as part of the ongoing
feasibility study, Vista completed a review of the historic blast
hole and production data associated with the heap leach pad and
concluded that there may be potential to recover additional gold
from the existing heap leach pad.
(Photo:
http://photos.prnewswire.com/prnh/20120516/LA08127-INFO)
In order to evaluate this potential, Vista initiated an
evaluation of the existing heap leach pad in December 2011 by completing 12 drill holes and
collecting 165 one-meter samples (two were damaged in
transit). The one-meter assays were submitted to Northern
Australia Laboratories ("NAL") in Pine Creek, Australia, for analysis. In April 2012, Vista completed an additional 12
drill holes and collected 160 one-meter samples which were also
submitted to NAL for analysis. The results are presented in the
following tables.
December 2011 Heap Leach Pad Drill Hole
Results
|
|
|
|
Hole
No.
|
Grid
Co-ordinates
|
Drill
Hole Composite Assay
|
GDA94
Grid
Easting
|
GDA94
Grid
Northing
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Grade
(g/t
Au)
|
Grade
(ppm Cu)
|
DLC-001
|
188686.0
|
8434989.0
|
0.0
|
10.0
|
10.0
|
0.51
|
346
|
DLC-002
|
188716.0
|
8434918.0
|
0.0
|
10.0
|
10.0
|
0.58
|
263
|
DLC-003
|
188768.0
|
8434833.0
|
0.0
|
10.0
|
10.0
|
0.50
|
212
|
DLC-004
|
188904.0
|
8434895.0
|
0.0
|
15.0
|
15.0
|
0.62
|
371
|
DLC-005
|
188839.0
|
8435040.0
|
0.0
|
15.0
|
15.0
|
0.95
|
370
|
DLC-006
|
188795.0
|
8435130.0
|
0.0
|
15.0
|
15.0
|
0.47
|
379
|
DLC-007
|
189014.0
|
8434934.0
|
0.0
|
15.0
|
15.0
|
0.71
|
297
|
DLC-008
|
188937.0
|
8435088.0
|
0.0
|
15.0
|
15.0
|
0.72
|
285
|
DLC-009
|
188892.0
|
8435178.0
|
0.0
|
15.0
|
15.0
|
0.41
|
271
|
DLC-010
|
189095.0
|
8434967.0
|
0.0
|
15.0
|
15.0
|
0.65
|
300
|
DLC-011
|
189015.0
|
8435133.0
|
0.0
|
15.0
|
15.0
|
0.44
|
454
|
DLC-012
|
188975.0
|
8435216.0
|
0.0
|
15.0
|
15.0
|
0.38
|
300
|
All
Holes
|
|
|
0.0
|
165.0
|
165.0
|
0.58
|
325
|
Based on the assay results of the initial 12 drill holes, Vista
selected 38 samples for bottle roll testing at ALS/Ammtec in
Perth, Australia. The bottle
roll tests (a test used to determine the amount of cyanide soluble
gold in samples) were run on 1 kg samples for 240 hours with 0.05%
cyanide. The results of the bottle roll tests are shown in
the included graph and the 38 bottle roll tests resulted in an
average recovery of 32.9% of the gold present in the samples.
These test results led Vista to initiate column leach testing at
ALS/Ammtec. Currently, 7 (50 kg) column tests are in
progress, the results of which are not expected to be available
until late August 2012.
April
2012 Heap Leach Pad Drill Hole Results
|
|
|
|
Hole
No.
|
Grid
Co-ordinates
|
Drill
Hole Composite Assay
|
GDA94
Grid
Easting
|
GDA94
Grid
Northing
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Grade
(g/t
Au)
|
Grade
(ppm Cu)
|
DLC-013
|
188608.0
|
8435067.0
|
0.0
|
10.0
|
10.0
|
0.65
|
194
|
DLC-014
|
188675.0
|
8435046.0
|
0.0
|
10.0
|
10.0
|
0.36
|
243
|
DCL-015
|
188675.0
|
8435045.0
|
0.0
|
10.0
|
10.0
|
0.58
|
546
|
DCL-016
|
188701.0
|
8434856.0
|
0.0
|
10.0
|
10.0
|
0.64
|
241
|
DCL-017
|
188880.0
|
8434952.0
|
0.0
|
15.0
|
15.0
|
0.55
|
490
|
DCL-018
|
188831.0
|
8435172.0
|
0.0
|
15.0
|
15.0
|
0.51
|
300
|
DLC-019
|
188945.0
|
8435197.0
|
0.0
|
15.0
|
15.0
|
0.51
|
244
|
DLC-020
|
189028.0
|
8435058.0
|
0.0
|
15.0
|
15.0
|
0.41
|
258
|
DLC-021
|
189099.0
|
8435009.0
|
0.0
|
15.0
|
15.0
|
0.57
|
278
|
DLC-022
|
189140.0
|
8435047.0
|
0.0
|
15.0
|
15.0
|
0.57
|
295
|
DLC-023
|
189094.0
|
8435146.0
|
0.0
|
15.0
|
15.0
|
0.43
|
352
|
DLC-024
|
189024.0
|
8435209.0
|
0.0
|
15.0
|
15.0
|
0.58
|
460
|
All
Holes
|
|
|
0.0
|
160.0
|
160.0
|
0.53
|
328
|
Historic records indicate that the existing heap leach pad has
between 13.2 and 18 million tonnes of crushed, agglomerated
material on it. A figure showing the locations of the 24
drill holes on the existing heap leach pad can be found on the
Internet at
http://vistagold.com/mt_todd.php?subpage=heap_leach_pad.
Fred Earnest, Vista's President
& CEO, stated "The drilling and subsequent bottle roll test
results from the existing Mt. Todd heap leach pad are causing us to
consider some new aspects of the Mt. Todd gold project. The
potential to convert what we had previously considered to be a
brownfield site liability to a potential revenue generating
component of the project could represent a potentially significant
source of additional value. We are in the process of
evaluating the potentially favorable implications and timing of
gold production from the existing heap leach pad and believe that
the heap leach pad should be incorporated into the definitive Mt.
Todd feasibility study. We are currently evaluating the
impact this may have on our current feasibility study."
The samples were obtained using a rotary aircore drill and were
collected by employees or contractors of the Company or its
subsidiaries under the direction of Vista's Vice President of
Exploration, Mr. Frank Fenne P.G.,
who is a "qualified person" within the meaning of Canadian National
Instrument 43-101―Standards of Disclosure for Mineral Projects. The
reported assays are from an initial split that were prepared and
assayed by NAL. These assays were used to select composites that
were subsequently assayed by ALS/Ammtec.
Mr. Frank Fenne has approved the
scientific and technical information disclosed in this press
release.
About Vista Gold Corp.
Vista is focused on the development of the Mt. Todd gold project
in Northern Territory, Australia,
to achieve its goal of becoming a gold producer. Vista is advancing
exploration on its Guadalupe de los
Reyes gold/silver project in Mexico and has granted Invecture Group, S.A.
de C.V. a right to earn a 62.5% interest in the Concordia gold project in Mexico. Vista's other holdings include the
Awak Mas gold project in Indonesia
and the Long Valley gold project in California. For more information about our
projects, including technical studies and resource estimates,
please visit our website at www.vistagold.com.
This press release contains forward-looking statements within
the meaning of the U.S. Securities Act of 1933, as amended, and
U.S. Securities Exchange Act of 1934, as amended, and
forward-looking information within the meaning of Canadian
securities laws. 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, expected exploration results, expected timing for results of
the column leach testing, potential to convert brownfield site
liability to a revenue generating component of the Mt. Todd gold
project resulting in a potentially significant source of additional
value, potential for favorable implications and timing of gold
production from the existing heap leach pad at the Mt. Todd gold
project, the inclusion of the heap leach pad into the definitive
Mt. Todd feasibility study, the completion of a feasibility study
for the Mt. Todd gold project, and other such matters are
forward-looking statements and forward-looking information.
The material factors and assumptions used to develop the
forward-looking information and the forward-looking information
contained in this press release include the following: results of
feasibility studies, mineral resource and reserve estimates,
exploration and assay results, terms and conditions of our
agreements with contractors and our approved business plan.
When used in this press release, the words "optimistic,"
"potential," "indicate," "expect," "intend," "hopes," "believe,"
"may," "will," "if," "anticipate," and similar expressions are
intended to identify forward-looking statements and forward-looking
information. 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 statements. Such factors
include, among others, uncertainty of resource estimates, estimates
of results based on such resource estimates; risks relating to
completing column leach testing; risks relating to cost increases
for capital and operating costs; risks relating to delays in the
completion of anticipated drilling activities at the Mt. Todd
gold project, risks related to the timing and the ability to obtain
the necessary permits, risks of shortages and fluctuating costs of
equipment or supplies; risks relating to fluctuations in the price
of gold; the inherently hazardous nature of mining-related
activities; 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; as
well as those factors discussed under the headings "Note Regarding
Forward-Looking Statements" and "Risk Factors" in Vista's Amendment
No. 1 to its Annual Report on Form 10-K as filed on April 5, 2012 and other documents filed with the
U.S. Securities and Exchange Commission and Canadian securities
regulatory authorities. Although Vista has attempted to
identify important factors that could cause actual results to
differ materially from those described in forward-looking
statements and forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Except as required by law, Vista assumes no
obligation to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
For further information, please contact Connie Martinez at (720) 981-1185.
SOURCE Vista Gold Corp.