DENVER, Aug. 9, 2012 /PRNewswire/ -- Vista Gold Corp.
(TSX & NYSE MKT: VGZ) ("Vista" or the "Company")
today reported further assay results from the final 25 holes of its
48 hole drilling program at the Guadalupe de los Reyes gold/silver
project in Sinaloa, Mexico.
Highlights of the drilling program include:
- 2.8 grams/ton (g/t) gold and 32.8 g/t silver over 8.1 meters,
including 6.6 g/t gold and 50.1 g/t silver over 2 meters in 12NB-01
(Nocha Buena );
- 38.7 g/t gold and 201 g/t silver over 2.0 meters in 12SM-02
(San Miguel);
- 3.5 g/t gold and 132 g/t silver over 23.7 meters, including
12.7 g/t gold and 348 g/t silver over 4 meters in 12SM-08
(San Miguel);
- 2.3 g/t gold and 232 g/t silver over 19.4 meters in 12SM-06
(San Miguel); and
- 8.2 g/t gold and 109 g/t silver over 11 meters in 12GL-04
(Guadalupe)
True widths of the intercepts reported above range between
60-100% and are discussed in more detail in the table below that
lists comprehensive results from the 25 drill holes announced in
this release.
Frederick H. Earnest, President
and CEO, said, "The results from these final 25 holes, and
particularly the intercepts at depth in San Miguel, continue to indicate the potential
for a significant epithermal gold-silver vein system at the
Guadalupe de los Reyes gold/silver project. The results
confirm the presence of both lower grade stockwork veining and high
grade potential occurring in larger quartz veins. We are now
working to incorporate the results from this drill program into a
new mineral resource estimate and Preliminary Economic Assessment,
which we anticipate to be completed early in the fourth
quarter."
About the Guadalupe de los Reyes Drilling Program
Vista completed an initial phase of drilling at the Guadalupe de
los Reyes gold/silver project in April 2012. Forty-eight
diamond drill holes totaling 7,215 meters were completed at the
project with the objectives of confirming and updating the existing
estimated mineral resource, obtaining core for metallurgical test
work, and providing additional information to support a Preliminary
Economic Assessment on the project.
Assays have been received from the final 25 holes including
three from Guadalupe, seven from El
Zapote, eleven from San
Miguel, and four from Noche
Buena. A drill hole location map, together with
selected cross sections showing the drill hole results and the
relationship between the stockwork and Low Sulfidation Epithermal
("LSE") veins can be found on our website at
http://vistagold.com/guadalupe_test.php?subpage=dr_20120808.
Composites from each of the veins have been selected and shipped
to Resource Development Inc. for preliminary metallurgical
testwork.
Results from the 25 drill holes are summarized on the following
table. The equivalent gold grade (Au equiv) was calculated
using a metal price ratio of 60:1 (60 g Ag equals 1 g EqAu).
|
|
|
|
|
|
|
|
|
Drill
Hole
|
Target
Area
|
Interval
From
To
|
Composite
Cutoff
(g/t)
|
Interval
Length
(m)
|
Approx.
True Thickness
(m)
|
Au
g/t
|
Ag
g/t
|
EqAu
g/t
|
12GL-02
|
Guadalupe
|
10.1
|
14.1
|
0.4
|
3.0
|
2.4
|
2.03
|
227
|
5.8
|
|
|
28.3
|
35.0
|
0.4
|
6.7
|
5.0
|
1.41
|
20.6
|
1.8
|
|
|
39.0
|
42.3
|
0.4
|
3.3
|
2.5
|
4.69
|
22.3
|
5.1
|
|
|
44.2
|
45.5
|
1.0
|
1.3
|
1.0
|
3.57
|
74
|
4.8
|
|
|
57.2
|
59.2
|
1.0
|
2.0
|
1.5
|
2.29
|
62
|
3.3
|
|
|
65.6
|
68.6
|
1.0
|
3.0
|
2.3
|
7.62
|
73
|
8.8
|
12GL-03
|
Guadalupe
|
8.7
|
14.3
|
0.4
|
5.6
|
5.6
|
2.62
|
51
|
3.5
|
|
|
35.5
|
40.6
|
0.4
|
5.1
|
5.1
|
0.33
|
93
|
1.9
|
|
|
62.9
|
65.1
|
1.0
|
2.2
|
2.2
|
3.75
|
78
|
5.1
|
|
|
71.0
|
76.0
|
0.4
|
5.0
|
5.0
|
1.43
|
24.7
|
1.8
|
|
|
80.8
|
83.4
|
0.4
|
2.6
|
2.6
|
2.86
|
55
|
3.8
|
|
|
85.4
|
87.4
|
0.4
|
2.0
|
2.0
|
0.843
|
21.1
|
1.2
|
|
|
91.5
|
97.6
|
4.0
|
6.1
|
6.1
|
7.255
|
132
|
9.5
|
12GL-04
|
Guadalupe
|
3.1
|
13.2
|
0.4
|
10.1
|
10.1
|
2.775
|
46.2
|
3.6
|
|
Including
|
10.2
|
12.2
|
4.0
|
2.0
|
2.0
|
11.97
|
189
|
15.1
|
|
|
27.2
|
31.0
|
0.4
|
3.8
|
3.8
|
2.61
|
148
|
5.1
|
|
|
51.7
|
53.7
|
0.4
|
2.0
|
2.0
|
4.69
|
60
|
5.7
|
|
|
60.0
|
62.0
|
0.4
|
2.0
|
2.0
|
4.77
|
145
|
7.2
|
|
|
67.0
|
78.0
|
0.4
|
11.0
|
11.0
|
8.19
|
109
|
10.0
|
|
Including
|
73.0
|
78.0
|
4.0
|
5.0
|
5.0
|
14.44
|
156
|
17.0
|
12ZAP-09
|
El
Zapote
|
48.7
|
50.7
|
0.4
|
2.0
|
2.0
|
0.84
|
15.3
|
1.1
|
|
|
52.7
|
55.5
|
0.4
|
2.8
|
2.8
|
0.72
|
13.3
|
0.9
|
12ZAP-10
|
El
Zapote
|
44.1
|
46.1
|
0.4
|
2.0
|
1.9
|
1.76
|
18.4
|
2.1
|
|
|
57.1
|
65.0
|
0.4
|
7.9
|
7.4
|
2.78
|
16.8
|
3.1
|
|
including
|
58.0
|
59.5
|
4.0
|
1.5
|
1.5
|
9.73
|
25.8
|
10.2
|
|
|
67.0
|
72.0
|
0.4
|
5.0
|
4.7
|
0.70
|
21.9
|
1.1
|
|
|
76.0
|
84.0
|
0.4
|
8.0
|
7.5
|
2.16
|
28.3
|
2.6
|
12ZAP-11
|
El
Zapote
|
108.3
|
110.3
|
0.4
|
2.0
|
2.0
|
1.18
|
23.7
|
1.6
|
|
|
114.3
|
118.3
|
0.4
|
4.0
|
4.0
|
0.73
|
17.5
|
1.0
|
|
|
122.0
|
130.0
|
0.4
|
8.0
|
8.0
|
0.58
|
13.5
|
0.8
|
12ZAP-12
|
El
Zapote
|
No
Significant Mineralization
|
-
|
|
|
|
12ZAP-13
|
El
Zapote
|
No
Significant Mineralization
|
-
|
|
|
|
12ZAP-14
|
El
Zapote
|
53.4
|
59.8
|
0.4
|
6.4
|
6.4
|
1.38
|
31.6
|
1.9
|
12ZAP-15
|
El
Zapote
|
52.9
|
62.5
|
0.4
|
9.6
|
9.6
|
0.93
|
33.7
|
1.5
|
|
including
|
52.9
|
55.9
|
0.4
|
3.0
|
3.0
|
1.53
|
29.7
|
2.0
|
12SM-01
|
San
Miguel
|
70.7
|
73.3
|
0.4
|
3.6
|
2.8
|
6.54
|
77.5
|
7.8
|
|
including
|
72.3
|
73.3
|
4.0
|
1.0
|
0.8
|
15.6
|
172
|
18.5
|
12SM-02
|
San
Miguel
|
50.8
|
56.5
|
0.4
|
5.7
|
5.7
|
14.4
|
127
|
16.5
|
|
including
|
51.8
|
53.8
|
4.0
|
2.0
|
2.0
|
38.7
|
201
|
42.1
|
12SM-03
|
San
Miguel
|
73.8
|
75.5
|
0.4
|
1.7
|
1.2
|
1.23
|
19.3
|
1.6
|
12SM-04
|
San
Miguel
|
No
Significant Mineralization
|
|
|
|
|
12SM-05
|
San
Miguel
|
33.5
|
38.6
|
0.4
|
5.1
|
4.8
|
1.41
|
24.6
|
1.8
|
|
including
|
34.7
|
36.0
|
4.0
|
1.3
|
1.2
|
4.69
|
42.3
|
5.4
|
|
|
148.1
|
153.1
|
0.4
|
5.0
|
4.7
|
0.94
|
17.7
|
1.3
|
12SM-06
|
San
Miguel
|
39.7
|
42.7
|
0.4
|
3.0
|
2.7
|
6.64
|
37.3
|
7.3
|
|
including
|
41.7
|
42.7
|
4.0
|
1.0
|
0.9
|
15.45
|
67
|
16.6
|
|
|
58.0
|
77.4
|
0.4
|
19.4
|
17.6
|
2.34
|
232
|
6.2
|
|
|
98.0
|
102.0
|
0.4
|
4.0
|
3.8
|
0.11
|
176
|
3.0
|
|
|
116.3
|
118.3
|
0.4
|
2.0
|
1.9
|
1.53
|
104
|
3.3
|
12SM-07
|
San
Miguel
|
89.4
|
90.9
|
0.4
|
1.5
|
1.0
|
0.96
|
3.8
|
1.0
|
|
|
101.4
|
103.4
|
0.4
|
2.0
|
1.5
|
0.58
|
22.8
|
1.0
|
12SM-08
|
San
Miguel
|
74.7
|
98.4
|
0.4
|
23.7
|
18.0
|
3.52
|
132
|
5.7
|
|
including
|
87.4
|
91.4
|
4.0
|
4.0
|
3.0
|
12.69
|
348
|
18.5
|
12SM-09
|
San
Miguel
|
25.5
|
31.4
|
0.4
|
5.9
|
5.5
|
1.17
|
65
|
2.3
|
12SM-10
|
San
Miguel
|
47.7
|
48.8
|
0.4
|
1.1
|
1.0
|
9.28
|
19.33
|
9.6
|
12SM-11
|
San
Miguel
|
5.2
|
15.0
|
0.4
|
9.8
|
6.8
|
0.22
|
274
|
4.8
|
|
|
61.0
|
65.8
|
1.0
|
4.8
|
3.3
|
2.61
|
114
|
4.5
|
|
|
68.8
|
73.8
|
0.4
|
5.0
|
3.5
|
0.27
|
144
|
2.7
|
12NB-01
|
Noche
Buena
|
146.4
|
149.5
|
0.4
|
3.1
|
2.0
|
1.45
|
33.5
|
2.0
|
|
|
168.8
|
176.9
|
0.4
|
8.1
|
5.0
|
2.82
|
32.8
|
3.4
|
|
including
|
168.8
|
170.8
|
4.0
|
2.0
|
1.2
|
6.62
|
50.1
|
7.5
|
12NB-02
|
Noche
Buena
|
109.8
|
112.8
|
4.0
|
3.0
|
3.0
|
6.71
|
94.6
|
8.3
|
|
|
121.2
|
128.9
|
0.4
|
7.7
|
7.7
|
0.79
|
21.1
|
1.1
|
|
including
|
122.0
|
126.4
|
1.0
|
4.4
|
4.4
|
1.11
|
24.5
|
1.5
|
12NB-03
|
Noche
Buena
|
142.0
|
148.3
|
0.4
|
6.3
|
5.0
|
0.85
|
46
|
1.6
|
|
Including
|
146.0
|
148.3
|
1.0
|
2.3
|
1.8
|
1.64
|
86
|
3.1
|
12NB-04
|
Noche
Buena
|
107.2
|
109.3
|
0.4
|
2.1
|
1.5
|
1.09
|
28.3
|
1.6
|
All results are from diamond core drill holes. The sample
intervals are constrained by geology and range from a minimum of
0.4 meters to a maximum of 1.5 meters, generally averaging 1 meter
in length. Mean grades are calculated at the stated cutoff
with no upper cap applied. Several high silver/low gold
intercepts in San Miguel were calculated using a 0.4 g/t gold
equivalent cutoff. The maximum length of internal waste is
1.0 meter. Approximate true thickness is estimated from cross
sectional interpretation.
Core was logged, photographed, and sampled by contractors of
Vista under the supervision 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 ("NI 43-101"). Samples were shipped to
the ALSChemex sample prep lab in Hermosillo, Mexico. Prepared sample
pulps were shipped by ALSChemex to its assay lab in
Vancouver. Commercial standards and blanks were submitted
routinely with each batch of samples. Gold was analyzed using
a 50 gram fire assay with an atomic absorption spectroscopy finish.
Gold assays greater than 10 g/t were re-assayed using a 50 gram
fire assay with a gravimetric finish. Silver was
initially analyzed using a 41 element ICP analysis using a four
acid digestion. Silver assays greater than 100 g/t were
re-assayed using a 50 gram fire assay with a gravimetric
finish. An quality control/quality assurance protocol was
employed in the program that includes standards and blanks in every
batch of assays. Check assays were conducted on every
20th sample by a second independent laboratory.
Sample custody, preparation and assaying were reviewed by Mr.
Fenne and Mr. Fenne is of the view that they are sufficient.
Mr. Fenne has verified and approved the data and 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 recently 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, the potential for significant epithermal gold-silver vein
system at the Guadalupe de los Reyes gold/silver project, the
presence of lower grade stockwork veining and high grade potential
occurring in larger quartz veins, completion of a new mineral
resource estimate on the Guadalupe de los Reyes gold/silver
project, the timing and completion of a Preliminary Economic
Assessment on the Guadalupe de los Reyes gold/silver project, and
other such matters are forward-looking statements and
forward-looking information. 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 metallurgical testing;
risks relating to cost increases for capital and operating costs;
risks relating to delays in the completion of anticipated
drilling activities at the Guadalupe de los Reyes gold/silver
project and the completion of the preliminary economic assessment,
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 latest Annual Report on Form 10-K as filed on March 14, 2012 and Vista's Amendment 1 to its
Annual Report 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.
Without limiting the foregoing, this press release uses terms
that comply with reporting standards in Canada and certain estimates are made in
accordance with NI 43-101. NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes standards for
all public disclosures an issuer makes of scientific and technical
information concerning mineral projects. This press release
uses the term "mineral resource." We advise U.S. investors
that while the term is recognized by Canadian regulations, the term
is not a defined term under the United States Securities and
Exchange Commission's (the "SEC") Industry Guide 7 and is
normally not permitted to be used in reports and registration
statements filed with the SEC. Mineral resources have a great
amount of uncertainty as to their existence, and great uncertainty
as to their economic and legal feasibility. It cannot be assumed
that all or any part of these mineral resources will ever be
upgraded to a higher category. The SEC normally only permits
issuers to report mineralization that does not constitute SEC
Industry Guide 7 compliant "reserves" as in-place tonnage and grade
without reference to unit measures. Under SEC Industry Guide
7 standards, a "final" or "bankable" feasibility study is
required to report reserves, the three-year historical average
price is used in any reserve or cash flow analysis to designate
reserves and all necessary permits and government approvals must be
filed with the appropriate governmental authority. U.S.
Investors are cautioned not to assume that any part or all of
mineral deposits in these categories will ever be converted into
SEC Industry Guide 7 reserves.
For further information, please contact Connie Martinez at (720) 981-1185, or visit the
Vista Gold Corp. website at www.vistagold.com.
SOURCE Vista Gold Corp.