Vista Gold Corp. (NYSE American:VGZ) (TSX: VGZ) announced assay results for drilling at the Company’s Mt Todd gold project. Two additional holes have been completed on an east-west section approximately 500 meters north of the limits of the Batman deposit resource model. Both holes drilled through mineralized structures as projected, with some intercepts in both holes showing significantly higher grades than historic drilling in the Batman deposit.
Frederick Earnest, President and CEO commented, “In these drill results, we see vertical and horizontal continuity of mineralization just as we did in our very successful development and expansion of the Batman deposit. The results of this program confirm our strong belief in the potential to increase the gold resources of the Mt Todd Project with additional drilling. The significantly higher-grade intercepts encountered in both VB21-004 and VB21-005 suggest the potential importance of these parallel structures as part of the feeder system that helped create the Batman deposit. Presently, two drills are drilling in the general vicinity of VB21-002 and VB21-005 to further define this structure, which is an extension of the Batman Core Zone. Following this, we plan to drill the parallel structure intersected in VB21-004 300 meters to the east, which aligns with the Golf-Tollis target. We are focused on understanding the geology and structural conditions that helped form these narrower, but apparently higher-grade, mineralized structures and their relationship to the Batman deposit approximately 500 meters to the south. We believe this will allow us to refine our exploration model prior to stepping out further to the north. We are very pleased with these results and look forward to the results of future drilling.” Vista Gold CEO Video
Holes VB21-004 and VB21-005 were drilled on Section 8436400N targeting differing, yet parallel mineralized structures. Hole VB21-005 was drilled to test the vertical continuity of mineralization discovered in hole VB21-002 (results announced March 24, 2021). This hole intersected 10 meters averaging 6.50 g Au/t, including 0.31 meters with 161.80 g Au/t. Hole VB21-004 was drilled approximately 300 meters to the east targeting a mineralized structure in line with the Golf-Tollis target and intersected 6 meters averaging 2.48 g Au/t, including 1.0 meter with 11.10 g Au/t. Please refer to the following table for a detailed summary of the assay results for these two holes and to Figure 1 on the following page for a map showing the locations of these drill holes.
Table 1 – Summary of Assay Results
|Hole No.||Grid Co-ordinates||Survey Data||Intersections|
|True Thickness (m)||Grade
|VB21-004||187942.0||8436407.0||148.0||90.0||-49.0||410.8||89.7||132.0||42.3||29.6||0.78||HQ ½ Core|
|including||97.0||126.0||29.0||20.3||0.94||HQ ½ Core|
|including||120.0||132.0||12.0||8.4||1.46||HQ ½ Core|
|including||120.0||126.0||6.0||4.2||2.48||HQ ½ Core|
|including||120.0||121.0||1.0||0.7||11.10||HQ ½ Core|
|and||204.0||225.8||21.8||15.3||0.62||HQ ½ Core|
|including||209.0||216.0||7.0||4.9||1.33||HQ ½ Core|
|VB21-005||187586.0||8436404.0||160.0||270.0||-50.0||445.7||67.0||74.0||7.0||4.9||1.13||HQ ½ Core|
|and||100.6||130.0||29.4||20.6||2.65||HQ ½ Core|
|including||109.0||119.0||10.0||7.0||6.50||HQ ½ Core|
|including||113.7||119.0||5.3||3.7||11.44||HQ ½ Core|
|including||115.9||116.3||0.3||0.2||161.80||HQ ½ Core|
|and||204.9||208.8||3.9||2.7||2.71||HQ ½ Core|
|and||226.3||231.4||5.2||3.6||1.51||HQ ½ Core|
|(i)||Results are based on ore grade 50g fire assay for Au.|
|(ii)||Intersections are from diamond core drilling with half-core samples with 1 metre representative samples.|
|(iii)||Core sample intervals were constrained by geology, alteration or structural boundaries, intervals varied between a minimum of 0.2 metres to a maximum of 1.2 metres.|
|(iv)||Mean grades have been calculated on a 0.4g/t Au lower cut-off grade with no upper cut-off grade applied, and maximum internal waste of 4.0 metres.|
|(v)||All intersections are downhole intervals, and reflect approximate true widths.|
|(vi)||All downhole deviations have been verified by downhole camera and or downhole gyro.|
|(vii)||Collar coordinates surveyed by Earl James & Assoc., an independent surveyor, using Trimble R8 GNSS.|
|(viii)||The Company maintains a QA/QC program, as further described below.|
|(ix)||The assay laboratories responsible for the assays were Northern Analytical Laboratories Pty. Ltd. (“NAL”), an independent ISO 9000 certified lab, Pine Creek, NT and Genalysis Laboratory Services Pty Ltd, Perth, WA, which is also independent from Vista.|
The plan view in Figure 1 shows the locations of drill holes VB21-004 and VB21-005 relative to previously announced drill holes. Holes VB21-004 and VB21-005 were drilled on Section 8436400N (labeled as ‘Section A-A’). VB21-004 was targeting mineralization in line with the Golf-Tollis target, which is believed to be the same structure as previously drilled in VB20-001. Figure 1 also shows the locations of all released holes from the 2020-2021 drilling.
Figure 2 shows the downhole assay results for the two drill holes detailed in this release, plus previously announced VB21-002 and the spatial relationship of the holes west to east when viewed looking north.
The drilling on section 8436400N has confirmed that some of these structures host higher grades with widths up to 30 meters. Currently, two northeast striking structures have been intersected and they extend over several kilometers. There are also indications of additional structures proximal to Batman.
The mineralization in VB21-002 and VB21-005 parallels the orientation of the Batman-Driffield corridor and is an extension of the mineralization within the Batman deposit.
Figure 1 – Plan View of Drill Holes and Cross Section Locations
Figure 2 – Section 8436400N View of VB21-004 and VB21-005 with VB21-002 Assay Results
Figure 3 shows the assay results for VB21-005 and its relationship to VB21-002 and the historic drilling completed by others.
Figure 3 – Section 8436400N Enlarged View of VB21-005 and VB21-002 Drilling Assay Results
Figure 4 shows the relationship of VB 21-004 to the historic, more shallow drilling. The mineralized zones in VB21-004 align vertically with mineralization in the historic drill holes.
Figure 4 – Section 8436400N Enlarged View of VB21-004 and Historic Drilling
Figure 5 is a plan view interpretation of the results of Vista soil and grab samples that have been collected. This demonstrates over 400 meters of strike length on the surface with anomalous gold values that align well with projected mineralized intercepts in VB21-002 and VB21-005.
Figure 5 – Plan view of Surface Geochemistry, including Soil and Rock Chip Samples
in the Vicinity of VB002 and VB21-005.
The sampling method and approach for the surface geochemistry and grab samples is as follows:
Rock chip and soil geochemical samples are routinely collected to determine if the potential exists for anomalous gold values below the surface. The presence of anomalous gold grades is not a guarantee of subsurface mineralization. While both rock chip and soil samples have sampling procedures, it is not considered rigorous enough to be relied upon for use in the estimation of resources. Surface soil and rock chip samples are merely considered to be potential indicators of subsurface mineralization. Since the rock chip and soil assays are not used in resource estimation, it is rare that any additional QA/QC or check assaying would be completed. The data are used on an as received basis.
It is the QP’s opinion (as defined below) that the sample preparation methods and quality control measures employed before dispatch of samples to an analytical or testing laboratory ensured the validity and integrity of samples taken.
John Rozelle, Vista’s Sr. Vice President, a Qualified Person (“QP”) as defined by Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has verified the data underlying the information contained in and has approved this press release. The information contained in this press release does not change any of the mineral resources or reserves estimates contained in Vista’s October 7, 2019 NI 43-101 Technical Report, Mt Todd Gold Project, 50,000 tpd Preliminary Feasibility Study, Northern Territory, Australia. The information contained in this press release is provided to inform the reader of the growth of our geologic understanding of the Project. There has been insufficient exploration to define a mineral resource with respect to the exploration target areas and it is uncertain if further exploration will result in the exploration target areas being delineated as a mineral resource.
Data Verification and QA/QC
The sampling method and approach for the drillholes are as follows:
Processing of the core included photographing, geotechnical and geologic logging, and marking the core for sampling. The nominal sample interval was one meter. When this process was completed, the core was moved into the core cutting/storage area where it was laid out for sampling. The core was laid out using the following procedures:
The core was then cut using diamond saws with each interval placed in sample bags. At this time, the standards and blanks were also placed in plastic bags for inclusion in the shipment. A reference standard or a blank was inserted at a minimum ratio of 1 in 10 and at suspected high grade intervals additional blanks sample were added. Standard reference material was sourced from Ore Research & Exploration Pty Ltd and provided in 60 g sealed packets. When a sequence of five samples was completed, they were placed in a shipping bag and closed with a zip tie. All of these samples were kept in the secure area until crated for shipping.
Samples were placed in crates for shipping with 100 samples per crate (20 shipping bags). The crates were stacked outside the core shed until picked up for transport and shipped to NAL in Pine Creek, Northern Territory, for standard fire assays. At the lab, the samples are pulverized and split down to 50-gram assay samples prior to assaying. The industry-standard 3 assay-ton fire assay is followed by an atomic absorption (AA) finish, except where results report a result of greater than 3 g Au/tonne, and then a gravimetric finish is used to report final results.
The QP is satisfied that sample security measures meet industry standards. Statistical analysis of the various drilling populations and quality assurance/quality control samples has not identified or highlighted any reasons to not accept the data as representative of the tenor and grade of the mineralization estimated at the Batman deposit.
About Vista Gold Corp.
The Company is a gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia.
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