Vista Gold Corp. Reports 3.52 g/t Gold and 132.0 g/t Silver over 23.7m at its Guadalupe de los Reyes Gold/Silver Project
08 August 2012 - 7:13AM
PR Newswire (Canada)
DENVER, Aug. 9, 2012 /CNW/ - Vista Gold Corp. ("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). Interval
Composite Interval Approx. Au Ag EqAu Drill Target Cutoff Length
True Hole Area From To (g/t) (m) Thickness g/t g/t g/t (m) 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 70.7 73.3 0.4 3.6 2.8 6.54 77.5 7.8 Miguel
including 72.3 73.3 4.0 1.0 0.8 15.6 172 18.5 12SM-02 San 50.8 56.5
0.4 5.7 5.7 14.4 127 16.5 Miguel including 51.8 53.8 4.0 2.0 2.0
38.7 201 42.1 12SM-03 San 73.8 75.5 0.4 1.7 1.2 1.23 19.3 1.6
Miguel 12SM-04 San No Significant Mineralization Miguel 12SM-05 San
33.5 38.6 0.4 5.1 4.8 1.41 24.6 1.8 Miguel 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 39.7 42.7 0.4 3.0 2.7 6.64 37.3 7.3 Miguel 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 89.4 90.9 0.4 1.5 1.0 0.96 3.8 1.0 Miguel 101.4 103.4
0.4 2.0 1.5 0.58 22.8 1.0 12SM-08 San 74.7 98.4 0.4 23.7 18.0 3.52
132 5.7 Miguel including 87.4 91.4 4.0 4.0 3.0 12.69 348 18.5
12SM-09 San 25.5 31.4 0.4 5.9 5.5 1.17 65 2.3 Miguel 12SM-10 San
47.7 48.8 0.4 1.1 1.0 9.28 19.33 9.6 Miguel 12SM-11 San 5.2 15.0
0.4 9.8 6.8 0.22 274 4.8 Miguel 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 146.4 149.5 0.4
3.1 2.0 1.45 33.5 2.0 Buena 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 109.8
112.8 4.0 3.0 3.0 6.71 94.6 8.3 Buena 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 142.0 148.3 0.4 6.3 5.0 0.85 46 1.6 Buena Including 146.0
148.3 1.0 2.3 1.8 1.64 86 3.1 12NB-04 Noche 107.2 109.3 0.4 2.1 1.5
1.09 28.3 1.6 Buena 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 20(th) 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. Vista Gold
Corp. CONTACT: http://www.vistagold.com
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