Vista Gold Corp. (NYSE American:VGZ) (TSX: VGZ) is pleased to provide results from the ongoing drilling program at the Company’s 100% owned Mt Todd gold project located in Northern Territory, Australia.
North Extension Drilling Highlights
Frederick Earnest, President and CEO of Vista, stated, “We continue to be encouraged by the results of our ongoing drilling program, which demonstrate that the Batman Core Zone extends to the north, as expected, and further validate our belief that mineralization with vertical and lateral continuity exists within and immediately adjacent to the planned Batman pit. Drilling continues on the remaining holes in our 2,400-meter program, with completion and results expected this quarter. We are presently evaluating targets for a follow-up drill program with the objective to confirm continuity and connectivity of the mineralized structures extending northeast to the Quigleys deposit.” See Vista Gold CEO Video.
In the fourth quarter 2020, the Company commenced an eight-hole proof of concept 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 mineralization with vertical and lateral continuity within and immediately adjacent to the planned Batman pit.
Results from Hole VB20-001 were announced in December 2020 (see News Release) and confirmed the existence of a mineralized zone that is believed to be a connection between the main Batman structure and the Golf-Tollis structure. Holes VB20-002, -003, and -004 targeted the Batman North Extension to the north of the main Batman structure.
Assay results for holes VB20-002, VB20-003 and VB20-004 are summarized below.
|Hole No.||Grid Co-ordinates||Survey Data||Intersections|
|VB20-002||187287.0||8435936.0||143.0||270.0||-58.0||280.0||8.0||164.0||156.0||113.0||0.55||HQ ½ Core|
|including||8.0||19.0||11.0||8.0||0.88||HQ ½ Core|
|including||101.0||130.0||29.0||20.0||1.00||HQ ½ Core|
|and||203.0||220.0||17.0||12.0||0.72||HQ ½ Core|
|including||219.0||220.0||1.0||0.7||3.72||HQ ½ Core|
|VB20-003||187272.0||8435933.0||140.0||266.0||-54.0||299.8||15.0||160.0||145.0||92.0||0.44||HQ ½ Core|
|including||81.0||160.0||79.0||50.0||0.51||HQ ½ Core|
|including||155.0||160.0||5.0||3.0||1.47||HQ ½ Core|
|VB20-004||187251.0||8435933.0||144.0||270.0||-48.0||146.0||15.0||21.0||6.0||4.5||0.57||HQ ½ Core|
|and||33.0||40.0||7.0||5.0||0.60||HQ ½ Core|
|and||52.0||59.0||7.0||5.0||0.47||HQ ½ Core|
|and||84.0||88.0||4.0||3.0||1.26||HQ ½ Core|
|(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 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.|
|(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 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 North Extension
The plan view above shows the interpreted location of the Batman North Extension. VB20-002, -003, and -004 intersected the Batman North Extension at the predicted location and encountered a thicker mineralized zone than anticipated.
Figure 2 – Section A-A’ (VB20-002, 003, and 004)
In the cross section below the location and assay results of VB20-002, -003, and -004 are shown relative to the core zones of the Batman deposit. The lighter shading denotes the higher-grade center portion within the extension of the Core Zone.
John Rozelle, Vista’s Sr. Vice President, a Qualified Person (QP) 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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We acknowledge the [financial] support of the Government of Canada.