Vista Gold reports successful drilling results from Todd project in Australia

15 July 2012 (Last Updated July 15th, 2012 18:30)

Vista Gold has completed the drilling of 19 holes totaling 13,047m as part of the ongoing resource conversion drilling programme at the Mt. Todd gold project in Northern Territory, Australia.

Vista Gold has completed the drilling of 19 holes totalling 13,047m as part of the ongoing resource conversion drilling programme at the Mt Todd gold project in Northern Territory, Australia.

Results from the drilling indicate that the sample intervals are constrained by geology and range from a minimum of 0.2m to a maximum of 1.2m in length.

“Consistent with previous results from this drilling programme, the mineralised intercepts are being encountered where predicted and are returning assay results generally better than the estimated grade of corresponding blocks in the current resource model.”

Under the drilling programme, mean grades are calculated at a 0.4g/t Au cut off, with no upper cap applied.

Samples from the drilling programme were prepared and assayed by North Australia Laboratories, Pine Creek, with second lab check assays completed by Northern Territory Environmental Laboratories in Darwin, Australia.

Vista president and chief executive officer Fred Earnest said that the latest assay results, from holes drilled on both the north and south sides of the Batman deposit, continued to confirm the company’s understanding of the deposit.

"Consistent with previous results from this drilling programme, the mineralised intercepts are being encountered where predicted and are returning assay results generally better than the estimated grade of corresponding blocks in the current resource model," he said.

Based on the assay results, the company is expected to increase the estimated measured and indicated resources at the Mt Todd project and incorporate a larger processing facility into the feasibility study for the project.