Vista Gold Corp. reports additional Mt. Todd drilling results, including 1.03 g/t gold over 206 meters
Thursday, Aug 30, 2012
DENVER, Aug. 29, 2012 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE MKT: VGZ) ("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.
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.
For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com .
SOURCE Vista Gold Corp.