DENVER, Feb. 15, 2013 /PRNewswire/ -- Vista
Gold Corp. (TSX & NYSE MKT: VGZ) ("Vista" or the "Company")
announced that it has completed the initial phase of water
treatment at the Mt. Todd mine site in Northern Territory,
Australia, and initiated the
second phase of the program.
Additionally, on February 5, 2013,
through its wholly-owned Australian subsidiary, Vista Gold
Australia Pty. Ltd., Vista has received authorization from the
Northern Territory ("NT") Government to release treated
water from the mine site into the Edith River, subject to stringent
water quality and environmental standards.
Since its initial involvement in the Mt. Todd gold project,
Vista has worked closely with the NT Government to effectively
manage acidic water accumulated on site. As part of the water
management plan to protect the nearby Edith River system,
approximately 10.3 gigaliters of water affected by acid rock
drainage is currently stored in the Batman pit. Vista has
undertaken laboratory, bench-scale and pilot-scale testing programs
to evaluate the effectiveness of the water treatment methods to be
used at the Mt. Todd gold project.
Commencing in October 2012, Vista
has added over 10,000 tonnes of finely ground limestone to the
water in the Batman pit. The water quality has rapidly
improved with the pH rising from 3.3 to 6.4 with significant
decreases in the concentrations of aluminum, copper, chromium,
ferrous iron and lead due to precipitation. Vista is now
adding approximately 2,000 tonnes of hydrated lime and believes
water quality will continue to improve as the water approaches the
pH target of 7.
Vista remains committed to the protection of the Edith River
system and has been authorized to release treated water only when
flow rates are sufficient to ensure that Australian drinking water
standards for health are achieved downstream of the mixing
zone. In addition to daily water quality testing during
periods of discharge, Vista will continue to conduct annual
macro-invertebrate and sediment testing programs in the Edith River
to ensure that there is no long-term impact to the
environment.
Based on historic flows in the Edith River, Vista estimates that
two wet seasons will be required to complete the discharge of water
from the pit. To date, Vista has invested AUD $9 million in the water treatment program and the
construction of the automated management system.
Detailed information and ongoing monitoring results can be found
on the Mt. Todd gold project website, via a link on the Vista
website (www.vistagold.com).
Frederick H. Earnest, President
and CEO of Vista, commented, "I am pleased with the results of the
water treatment program and the recently granted authorization to
discharge treated water from the Mt. Todd site. This
authorization has been granted, taking into consideration the
experience gained in the management of previous authorizations
which date back to 2006. Vista is committed to operating the
Mt. Todd gold project in an environmentally responsible manner and
minimizing the existing and ongoing environmental impacts of the
site. The in situ treatment with micronized limestone and
hydrated lime is producing tremendous improvement in the quality of
water in the Batman pit. We are hopeful that the treatment of
water in the Batman pit will serve as an important example which
motivates other operations to implement similarly efficient
treatment programs. I am pleased that we have been able to
work with the various agencies of the NT Government to effectively
achieve a win for the NT and the project. Treating and
dewatering the Batman pit is an important step toward the
development of the Mt. Todd gold project."
Mr. Earnest went on to comment, "I understand that the release
of any water is of concern to every stakeholder in the
NT. Therefore, we will be hosting a community meeting on
Saturday, February 16, 2013 in
Katherine where Vista's Mt. Todd team will be on hand to discuss
the water treatment and water management programs and to answer any
questions. We want to continue to build our relationship and
dialogue with the community on this issue and others related to the
Mt. Todd gold project redevelopment."
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 Los Cardones 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 anticipated completion of the second phase of the Mt. Todd
water program and related testing, projected improvements in the
water quality as water approaches pH of 7 and estimated time to
complete the discharge of water from the Batman pit, future testing
programs at the Edith River, potential future impact of water
discharges into the Edith River, number of wet seasons to complete
discharge into the Edith River, continued advancement of the Mt.
Todd gold project, Vista's goal of becoming a gold producer 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 the future effectiveness of the water treatment program
and risks related to the discharge of water into the Edith River,
completing metallurgical testing; risks relating to cost increases
for capital and operating costs; risks relating to delays in the
completion of anticipated feasibility study, updated resource
estimates, and feasibility study, risks related to the changes
in mine design, 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, or visit the
Company's website at www.vistagold.com.
SOURCE Vista Gold Corp.