DENVER, Feb. 15, 2013 /CNW/ - 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 # 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.