Vista Gold talks Mount Todd evaluations, potential
2020-06-02 08:08 ET – News Release
Mr. Frederick Earnest reports
VISTA GOLD CORP. ANNOUNCES RECENT GEOLOGICAL EVALUATION RESULTS HIGHLIGHTING THE POTENTIAL OF THE MT TODD GOLD PROJECT
Vista Gold Corp. has released positive results of continuing geological evaluations at its Mount Todd gold project in the Northern Territory, Australia. This initial phase of the company’s evaluations focused on the Batman deposit and the area north to the Quigleys deposit. Results demonstrate greater potential for continuity of gold mineralization along a 5.4-kilometre strike length. These results are preliminary in nature.
The company recently consolidated its geologic information, which includes both Vista and historic drilling at the Batman deposit, historic drilling northeast of the Batman deposit to the Quigleys deposit, and all of the surface geochemistry, geophysics, structural geology and lithologic data into a comprehensive GIS database as part of its continuing evaluation work to identify and prioritize upside potential at Mount Todd. This consolidated GIS format has identified several trends and potential areas where the gold mineralization may be more extensive than previously thought.
Frederick H. Earnest, president and chief executive officer of Vista, stated: “We believe Mount Todd hosts a district and not just a deposit. The recent work by our geologic team on understanding the connectivity of the Batman deposit to the Golf-Tollis and Quigleys deposits indicates potential for district continuity. As we evaluate this potential combined with continued improved gold prices, it is possible to envision a 20-plus-year mine.”
Mount Todd encompasses a large land package that has both explored and unexplored areas. There are two principal mineralized structural trends: the Batman-Driffield trend and the Cullen-Australis trend. The Batman-Driffield trend has the greatest number of known mineralized prospects and has been the subject of the most detailed work. An image on the company’s website provides detail on the southwestern portion of the Batman-Driffield trend, which contains the Batman deposit and several other prospects with historic drilling. Long section A-B on the company’s website covers a linear length of about 5.4 km. This area lies within Vista’s mining licences and represents the initial phase of recent evaluations by Vista’s exploration team.
Another image on the company’s website illustrates the extent of historic drilling completed north of the Batman deposit. For the most part, the historic drilling was shallow (generally less than 100 m) and either rapid air blast, reverse circulation or churn drilling, which returned no drill core, only rock chips. When Vista initiated its work on the Batman deposit, the historic drilling looked much the same as that shown for the Golf-Tollis and Quigleys deposits. All of Vista’s drilling has been diamond core holes. The Batman deposit now is known to extend to a considerable depth below the other mineralization shown in an image on the company’s website. The connectivity within this about 5.4 km structurally controlled, mineralized area is encouraging because it supports the potential that there is a mineral district at Mount Todd and not just the Batman deposit. In addition, it highlights the opportunity for more diamond drilling at deeper depths in order to begin to unlock the full potential at Mount Todd.
John Rozelle, Vista’s senior vice-president, a qualified person as defined by National Instrument 43-101 — Standards of Disclosure for Mineral Projects, has verified the data disclosed in this news release and approved the information in this press release. The drill hole information displayed in an image on the company’s website associated with the Batman and Quigleys deposits has been previously disclosed in Vista’s Oct. 7, 2019, National Instrument 43-101 technical report entitled “NI 43-101 Technical Report, Mount Todd Gold Project, 50,000 tpd Preliminary Feasibility Study, Northern Territory, Australia,” and meets all of the NI 43-101 requirements for disclosure of mineral resources or reserves. The drill holes shown for the Golf-Tollis/Penguin and the Quigleys extension are historic drill holes. Only the lithologic and geologic structural data have been used and there are no historic or current resource or reserves for these identified areas. The information contained in this press release does not change any of the mineral resources or reserves estimates contained in Vista’s Oct. 7, 2019, technical report. The information contained in this press release is provided to inform the reader of the growth of the company’s geologic understanding of the project as new software tools have been implemented.
About Vista Gold Corp.
The company is a gold project developer. The company’s principal asset is its flagship Mount Todd gold project in Northern Territory, Australia. Mount Todd is the largest undeveloped gold project in Australia and, as presently designed, is expected to be Australia’s fifth-largest gold producer on an annual basis.
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