Vista Gold Corp. reports assay results for ongoing resource conversion drilling program at the Mt. Todd Gold Project
Friday, Jul 13, 2012
DENVER, July 12, 2012 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE MKT: VGZ) ("Vista" or the "Company") today announced assay results of drill holes from the ongoing resource conversion drilling program at the Mt. Todd gold project in Northern Territory, Australia.
Vista has now completed 19holes totaling 13,047 meters. The assay results of the first ten holes (approximately 50% of total drilled to-date) were announced previously (please refer to our press releases dated March 12, April 25, and June 5, 2012). The following table summarizes results from the subsequent threeholes.
The orientation of these drill holes relative to the deposit is shown in cross sections found on the Company's web site at http://vistagold.com/mt_todd_test.php?subpage=dr_20120712. 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 grams/tonne 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.
Vista's President and Chief Executive Officer, Fred Earnest, commented, "The latest assay results, from holes drilled on both the north and south sides of the Batman deposit, continue to confirm our understanding of the deposit. Consistent with previous results from this drilling program, the mineralized intercepts are being encountered where predicted and are returning assay results generally better than the estimated grade of corresponding blocks in the current resource model. A review of the drilling program results as shown on the cross sections on our web site further supports both our expectation that we will increase the estimated measured and indicated resources at the Mt. Todd project, as well as our decision to incorporate a larger processing facility into the project's feasibility study."
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 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.
SOURCE Vista Gold Corp.