Vista Gold Corp. announces final Mt. Todd 2012 drilling program results and provides update on Mt. Todd development
Tuesday, Feb 12, 2013
DENVER, Feb. 11, 2013 /PRNewswire/ -- Vista Gold Corp. (TSX & NYSE MKT: VGZ) ("Vista" or the "Company") today announced assay results from the final ten holes drilled at the Batman deposit in 2012 as well as the results of the initial exploration hole at the Snowdrop exploration target on the Company's Exploration Licenses at the Mt. Todd gold project in Northern Territory, Australia.
The assay results reported below are from the final ten holes of a 31 core hole drilling program completed in 2011-12. The first 18 holes of the program were incorporated into Vista's updated mineral resource estimate announced September 4, 2012. The last 13 holes, including the ten holes announced today, are anticipated to be incorporated into an updated resource estimate targeted for completion in early March 2013, and used for the planned definitive feasibility study targeted for completion later this year. The Company also continues to advance the Mt. Todd gold project preliminary feasibility study targeted for completion in the first quarter of 2013.
Frederick H. Earnest, President and CEO of Vista said, "We continue to be pleased by the results of our recent resource conversion drilling program. The drill holes we announced in 2012 focused on resource conversion at the bottom of the economic pit in areas of projected higher grade mineralization. The latter part of the drilling program, including the ten holes announced today, focused on targets on the north and south ends of the economic pit. Based on the results from these holes, we expect there to be a modest increase in measured and indicated resources resulting from the conversion of inferred resources. Furthermore, we believe this will result in positive changes to the project, including improved mine scheduling and better overall economics, without significant changes to the preliminary feasibility study pit designs. We are working with a broad group of independent consultants to finalize the preliminary feasibility study, which we anticipate will be followed by the updated resource estimate and final feasibility study."
SOURCE Vista Gold Corp.