DENVER, April 8, 2019 /CNW/ -- Vista Gold Corp. (TSX
& NYSE American: VGZ) ("Vista" or the "Company") today
announced that the fine grinding tests on 470 kilograms of samples
from its Mt Todd gold project are complete and that the final
products are being returned to Denver for leach recovery testing. Due
to backlogs at the labs of Core Metallurgy and FLSmidth, the
testing program was delayed four to five weeks and final leach
recovery results are now expected in May. The preliminary
grinding test results confirm the results of previous tests, which
indicated that the power required to achieve a target grind size of
38-45 microns is less than was estimated in the 2018 updated
preliminary feasibility study. (Please refer to Vista's
January 24, 2018 press release.)
Vista's President and CEO, Mr. Frederick
H. Earnest commented, "The completion of the grinding tests
on samples with average grades ranging from 0.8 to 1.7 grams gold
per tonne (g Au/t) now allows us to complete leach recovery testing
as the last phase of this comprehensive testing program. With the
results of these grinding tests, we have a significant amount of
data for ongoing and future evaluations of both the IsaMill and VXP
stirred-media mills. The tests at both laboratories confirm
lower anticipated power requirements and provide the basis for a
favorable adjustment in our project evaluation. With the
anticipated completion of the leach recovery tests in the next
month, we expect to generate grind-size leach recovery curves
covering a wide range of potential ore feed grades. The
relationship between the grind-size and gold recovery on Mt Todd
samples is well established. We expect the leach recovery
tests to confirm the results of the testing work announced in
August 2018. (Please refer to Vista's August 2, 2018 press release.) We have
commenced an update of the Mt Todd technical report and plan to
incorporate these test results into a new report presently
scheduled for completion prior to the end of the second quarter
2019."
Technical Report on Mt Todd Gold Project
For further information on the Mt Todd gold project, see the
Technical Report entitled "NI 43-101 Technical Report Mt Todd Gold
Project 50,000 tpd Preliminary Feasibility Study Northern
Territory, Australia," dated
March 2, 2018 with an effective date
of January 24, 2018, which is
available on SEDAR, EDGAR and Vista's website under the Technical
Reports section.
Deepak Malhotra, Vista's
principal metallurgical consultant and President of Prosolv
Consulting, LLC, a Qualified Person as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects, has approved the information in this press
release.
About Vista Gold Corp.
The Company is a well-funded gold project developer. The
Company's principal asset is its flagship Mt Todd gold project in
Northern Territory, Australia. Mt Todd is the largest
undeveloped gold project in Australia.
For further information, please contact Pamela Solly, Vice President, Investor Relations
at (720) 981-1185.
Forward Looking Statements
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 we expect or
anticipate will or may occur in the future, including such things
as our belief that the power required to achieve the target grind
size is less than previously estimated; our expectation that the
further data can be used for ongoing and future evaluations
of the mills; our belief that the test results confirm lower
anticipated power requirements and provide for a basis for a
favorable adjustment in our project evaluation; our belief that the
anticipated leach recovery tests will generate grind-size leach
recovery curves covering a wide range of potential ore feeds; our
belief that the relationship between grind-size and gold recovery
on Mt Todd samples is well-established; our belief that the leach
recovery tests will confirm the results of the testing working
announced in August 2018; and the
timing of and our intention to update the Mt Todd technical report
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: no change to
laws or regulations impacting mine development or mining
activities, our approved business plans, mineral resource and
reserve estimates and results of preliminary economic assessments,
preliminary feasibility studies and feasibility studies on our
projects, if any, the results of the test work on our projects, if
any, our experience with regulators, our experience and knowledge
of the Australian mining industry and changes to current economic
conditions and the price of gold. 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 the Company 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 and reserve estimates, uncertainty as to
the Company' s future operating costs and ability to raise capital;
risks relating to cost increases for capital and operating costs;
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
our 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; uncertainty as to the results of bulk metallurgical
test work; and uncertainty as to completion of critical milestones
for Mt Todd; as well as those factors discussed under the headings
"Note Regarding Forward-Looking Statements" and "Risk Factors" in
the Company's latest Annual Report on Form 10-K as filed in
February 2019 and other documents
filed with the U.S. Securities and Exchange Commission and Canadian
securities regulatory authorities. Although we have 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, we assume no obligation
to publicly update any forward-looking statements or
forward-looking information; whether as a result of new
information, future events or otherwise.
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SOURCE Vista Gold Corp.