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
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|
|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
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.
Figure 3 – Enlargement of VB20-001
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:
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.
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.
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