Vista Gold drills 60 m of 0.72 g/t Au at Mt. Todd

Dec 14, 2020

2020-12-14 17:26 ET – News Release

Mr. Frederick Earnest reports

VISTA GOLD DRILLING CONFIRMS ADJACENT MINERALIZED ZONE AT THE MT TODD GOLD PROJECT

Vista Gold Corp. has provided initial drill results from the continuing drilling program at the company’s 100-per-cent-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 metres of 0.72 gram of gold/ton that contained three higher-grade intervals; and
Demonstrated the presence of potentially higher grade material within the mineralized zone with a single one-metre assay of 7.79 grams of Au/tonne.

Frederick Earnest, president and chief executive officer 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 roughly 5.4 kilometres 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.”

The assay results are summarized herein.

VB20-001 intersected the lode at the predicted location and encountered a thicker mineralized zone than anticipated. The Batman Hanging Wall Lode splays off from the known hangingwall 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.

Qualified person

John Rozelle, Vista’s senior 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 quality assurance/quality control (QA/QC)

The sampling method and approach for the drill holes 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-metre 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 continuing 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 metre. 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-metre-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 metre, with a minimum of 0.2 m and a maximum of 1.2 m;
Blind sample numbers were then assigned based on prelabelled sample bags. Sample intervals were then indicated in the core tray at the appropriate locations;
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 one 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-gram 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 (QA/QC) 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 sixth-largest gold producer on an annual basis.

We seek Safe Harbor.

https://vistagold.com/