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Vista Gold Drilling Confirms Adjacent Mineralized Zone at the Mt Todd Gold Project

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Vista Gold Drilling Confirms Adjacent Mineralized Zone at the Mt Todd Gold Project

 

 

 

 

 

Vista Gold Corp. (NYSE American) (TSX: VGZ) is pleased to provide initial drill results from the ongoing drilling program at the Company’s 100% owned Mt Todd gold project located in Northern Territory, Australia.

 

In late October, the Company commenced an eight-hole proof of concepts drilling program to test targets known as the Batman Hanging Wall Lode and the Batman North Extension. The goal of the program is to confirm the existence of higher-grade mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit. The first hole (VB20-001) targeted the Batman Hanging Wall Lode to the east of the main Batman structure. The remaining holes will target the Batman North Extension, where drilling is progressing.

 

Hole VB20-001 Highlights

 

  • Confirmed the existence of a mineralized zone that is believed to be a connection between the main Batman structure and the Golf-Tollis structure;
  • Intersected the mineralized zone as projected and found the zone to be thicker than previously expected aggregating to 60 meters of 0.72 grams of Au/ton that contained three higher grade intervals; and
  • Demonstrated the presence of potentially higher grade material within the mineralized zone with a single one-meter assay of 7.79 grams of Au/tonne.

 

Frederick Earnest, President and CEO of Vista commented, “We are encouraged by the results received so far. Over the last year, our geologists have been evaluating the potential continuity and connectivity of the mineralized structures extending from the Batman deposit northeast ~5.4 Km to the Quigleys deposit. The results of this first hole confirm our initial interpretation and suggest that additional drilling could result in the basis for an increase in the mineral resource estimates both within and outside the currently designed Batman pit. We are now drilling the third of three holes on a fence across the Batman North Extension. Should the results from these next three holes confirm an extension of the structure and mineralization that forms the Batman deposit, additional drilling could ultimately lead to future changes to the mine design.” Vista Gold CEO Video

 

 

The assay results are summarized below.

 

Hole No. Grid Co-ordinates Survey Data Intersections
MGA94 Grid
Easting
MGA94 Grid
Northing
RL
(m)
Azimuth
(°)
Dip
(°)
Depth
(m)
  From
(m)
To
(m)
Interval
(m)
True
Thickness
(m)
Grade
(g/t Au)
Grade
(ppm Cu)
Sample Type
VB20-001 187603.0 8435654.0 148.0 270.0 -58.0 326.8   84 144 60 30 0.72 120 HQ ½ Core
              Including 84 104 20 10 0.94 352 HQ ½ Core
              Including 122 144 22 11 1.01 322 HQ ½ Core
              Including 134 139 5 3 2.39 2660 HQ ½ Core
                             

 

 

Notes to Assay Results Table:

(i) Results are based on ore grade 50g fire assay for Au and four acid ICP-OES for Cu.
(ii) Intersections are from diamond core drilling with half-core samples.
(iii) Core sample intervals were constrained by geology, alteration or structural boundaries, intervals varied between a minimum of 0.2 meters to a maximum of 1.2 meters.
(iv) Mean grades have been calculated on a 0.4g/t Au lower cut-off grade with no upper cut-off grade applied.
(v) All intersections are downhole intervals.
(vi) All downhole deviations have been verified by downhole camera and or downhole gyro.
(vii) Collar coordinates surveyed by GPS.
(viii) The Company maintains a QA/QC program, as described below.
(ix) The assay laboratories responsible for the assays were NAL Pty Ltd, Pine Creek, NT and Genalysis Laboratory Services Pty Ltd, Perth, WA.
   

 

Figure 1 – Batman Hanging Wall Lode 

https://www.globenewswire.com/NewsRoom/AttachmentNg/6fd4fdb0-e973-4edc-b290-6e1ac1baefa8

 

The plan view above shows the interpreted location of the Batman Hanging Wall Lode. VB20-001 intersected the lode at the predicted location and encountered a thicker mineralized zone than anticipated. As shown, the Batman Hanging Wall Lode splays off from the known Hanging Wall Lodes adjacent to the Core Zone and trends to the northeast where it connects to a thickening zone of mineralization that is in alignment with the mineralized structure that hosts the Golf-Tollis known mineralization.

 

Figure 2 – Section A-A’ (8435650N) 
VB20-001 (see below)

 

In the cross section below the location and assay results of VB20-001 are shown relative to the core and hanging wall zones of the Batman deposit. The subsequent cross section provides a closer view of hole VB20-001 and the drill results within the confines of the Batman Hanging Wall Lode.

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/30a3ca00-02d0-48d8-855d-1d034abb9949

 

Figure 3 – Enlargement of VB20-001 

https://www.globenewswire.com/NewsRoom/AttachmentNg/14e5d752-1bb6-4ec5-872b-569bda68b900

 

Qualified Person

 

John Rozelle, Vista’s Sr. Vice President, a Qualified Person as defined by 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.

 

Data Verification and QA/QC

 

The sampling method and approach for the drillholes are as follows:

 

  • The drill core, upon removal from the core barrel, is placed into plastic core boxes;
  • The poly core boxes are transported to the sample preparation building;
  • The core is marked, geologically logged, geotechnically logged, photographed, and sawn into halves. One-half is placed into sample bags as one-meter sample lengths, and the other half retained for future reference. The only exception to this is when a portion of the remaining core has been flagged for use in the ongoing metallurgical testwork;
  • The bagged samples have sample tags placed both inside and on the outside of the sample bags. The individual samples are grouped into “lots” for submission to Northern Analytical Laboratories for preparation and analytical testing; and
  • All of this work was done under the supervision of a Vista geologist.

 

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:

 

  • One meter depth intervals were marked out on the core by a member of the geologic staff;
  • Core orientation (bottom of core) was marked with a solid line when at least three orientation marks aligned and used for structural measurements. When orientation marks were insufficient an estimated orientation was indicated by a dashed line;
  • Geologic logging was then done by a member of the geologic staff. Assay intervals were selected at that time and a cut line marked on the core. The standard sample interval was one-m, with a minimum of 0.2 m and a maximum of 1.2 m;
  • Blind sample numbers were then assigned based on pre-labeled sample bags. Sample intervals were then indicated in the core tray at the appropriate locations; and
  • Each core tray was photographed and restacked on pallets pending sample cutting and stored on site indefinitely.

 

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.

 

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 either 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. NAL Pty. Ltd and Genalysis Laboratory Services Pty Ltd. are both independent of the Company.

 

About Vista Gold Corp.

 

The Company is a gold project developer. The Company’s flagship asset is the Mt Todd gold project in the Tier-1 mining jurisdiction of Northern Territory, Australia. Mt Todd is the largest undeveloped gold project in Australia and if developed as presently designed, would potentially be Australia’s 6th largest gold producer on an annual basis.

 

Posted December 15, 2020

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