Vista Gold Corp. Reports Additional Mt. Todd Drilling Results, including 1.03 g/t Gold over 206 meters
27 August 2012 - 9:04PM
PR Newswire (Canada)
DENVER, Aug. 29, 2012 /CNW/ - Vista Gold Corp. ("Vista" or the
"Company") today reported further drilling results from its ongoing
resource conversion drilling program at the Mt. Todd gold project
in Northern Territory, Australia. Highlights of the most recent
five drill hole results include: -- 1.03 grams per ton (g/t) gold
over 206 meters in VB12-013 -- 0.99 g/t over 24.9 meters in
VB12-011 starting at 169 meters in depth -- 2.46 g/t over 33.3
meters including 4.29 g/t over 14.1 meters in VB12-012 True widths
of the intercepts reported above range between 77-96% and are
discussed in more detail in the table below that lists
comprehensive results from the five drill holes announced in this
release. Frederick H. Earnest, President and CEO of Vista, stated,
"Our resource conversion drilling program continues to successfully
intersect mineralization in the inferred mineral resource category.
Of the 24 holes drilled to date, we have received assays results on
18 holes and are incorporating the results into an updated resource
estimate which is expected to be completed next week. Results from
the remainder of the ongoing drilling program will subsequently be
incorporated into the resource estimate that will form the basis of
the definitive feasibility study that we expect to complete early
next year." Assay results of the first 13 holes were announced
previously (please refer to our press releases dated March 12,
April 25, June 5, and July 12). The following table summarizes
results from the subsequent five holes.
______________________________________________________________ | |
| |Approx. | | | |Assay | | | | | | |Thickness|True |Gold Grade |
|Hole ID |Interval | | | | | | |(meters) |Thickness|(gram/tonne)| |
|(From-To) | | | | | | | |(meters) | |
|_________|___________________|_________|_________|____________|
|VB12-010 |300.0 – 310.2|10.2 |8.3 |0.65 |
|_________|___________________|_________|_________|____________| |
|441.0 – 469.1|28.1 |22.8 |0.54 |
|_________|___________________|_________|_________|____________|
|VB12-011 |169.1 – 194.0|24.9 |22.0 |0.99 |
|_________|___________________|_________|_________|____________| |
|200.1 – 213.0|12.9 |11.4 |0.50 |
|_________|___________________|_________|_________|____________| |
|218.0 -252.0 |34.0 |29.9 |0.67 |
|_________|___________________|_________|_________|____________| |
|290.0 – 317.0|27.0 |23.8 |0.58 |
|_________|___________________|_________|_________|____________| |
|351.0 – 373.0|22.0 |19.4 |0.63 |
|_________|___________________|_________|_________|____________|
|VB12-012 |336.0 – 357.0|21.0 |16.3 |0.60 |
|_________|___________________|_________|_________|____________| |
|395.0 – 413.0|18.0 |14.0 |1.15 |
|_________|___________________|_________|_________|____________| |
|470.0 – 495.0|25.0 |19.4 |0.53 |
|_________|___________________|_________|_________|____________| |
|502.0 - 519 |17.0 |13.2 |0.66 |
|_________|___________________|_________|_________|____________| |
|543.0 – 576.3|33.3 |25.8 |2.46 |
|_________|___________________|_________|_________|____________|
|including|559.9 – 574.0|14.1 |10.9 |4.29 |
|_________|___________________|_________|_________|____________| |
|588.8 – 598.5|10.0 |7.8 |1.88 |
|_________|___________________|_________|_________|____________|
|including|589.5 – 593.5|4.0 |3.1 |4.22 |
|_________|___________________|_________|_________|____________| |
|610.2 – 623.0|12.8 |9.9 |4.15 |
|_________|___________________|_________|_________|____________|
|including|611.3 – 615.9|4.6 |3.6 |9.06 |
|_________|___________________|_________|_________|____________|
|VB12-013 |117.0 -128.0 |11.0 |10.5 |0.61 |
|_________|___________________|_________|_________|____________| |
|409.0 – 421.0|12.0 |11.5 |0.41 |
|_________|___________________|_________|_________|____________| |
|429.0 – 473.1|44.1 |42.3 |0.68 |
|_________|___________________|_________|_________|____________| |
|478.0 – 684.0|206.0 |197.6 |1.03 |
|_________|___________________|_________|_________|____________|
|VB12-014 |111.0 – 142.0|31.0 |27.8 |0.56 |
|_________|___________________|_________|_________|____________| |
|313.0 – 353.0|40.0 |35.9 |0.70 |
|_________|___________________|_________|_________|____________| |
|362.1 – 395.0|32.9 |29.5 |0.49 |
|_________|___________________|_________|_________|____________| |
|478.0 – 479.1|1.1 |1.0 |77.70 |
|_________|___________________|_________|_________|____________|
The orientation of these drill holes relative to the deposit is
shown in cross sections found on the Company's web site at
http://www.vistagold.com/mt_todd.php?subpage=dr_20120829. The
sample intervals are constrained by geology and range from a
minimum of 0.2 meters to a maximum of 1.2 meters in length,
generally averaging 1 meter in length. Mean grades are calculated
at a 0.4 g/t Au cutoff with no upper cap applied. The maximum
length of internal waste is 4.0 meters. The drilling has been
completed and the core has been logged, photographed and sampled by
employees or contractors of Vista Gold Australia 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 ("NI 43-101"). Samples were prepared and assayed by North
Australia Laboratories, Pine Creek, Australia. Second lab check
assays were completed by Northern Territory Environmental
Laboratories (Intertek Group) in Darwin, Australia. Gold grades are
based on a 50 gram fire assay method. Core logging and sample
custody, preparation and assaying were reviewed by Mr. Frank Fenne
and Mr. Fenne is of the view that they are sufficient. Mr. Frank
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 timing and completion of updated
mineral resource estimates on the Mt. Todd gold project, the timing
and completion of a feasibility study on 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 statements and forward-looking
information contained in this press release include the following:
our approved business plans, exploration and assay results, mineral
resource and reserve estimates and results of preliminary economic
assessments, pre-feasibility studies and feasibility studies on our
projects, if any. 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 terms
"mineral resource" And "inferred mineral resource." We advise U.S.
investors that while these terms are 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. Inferred 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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