Vista Gold Corp. (AMEX: VGZ) Toronto has completed a 7,020-foot drill program on its Maverick Springs project, approximately 50 miles southeast of Elko, Nevada, on the southeast extension of the Carlin trend. The program consisted of seven vertical reverse circulation holes, 500 feet to 2,200 feet from previously identified mineralization. All seven holes encountered flat-lying mineralization, predominantly oxidized to depths of up to 900 feet.
Drill Hole Results-Maverick Springs, December 2002 Drill Hole From To Thickness Gold Silver (feet) (feet) (feet) (oz./ton) (oz./ton) MR129 695 940 245 0.008 1.521 MR130 650 850 200 0.008 3.852 Includes 670 710 40 0.008 14.129 MR131 565 940 375 0.012 0.571 MR132 600 925 325 0.011 0.519 MR133 300 400 100 0.008 0.157 MR133 515 825 310 0.008 1.016 MR134 590 790 200 0.009 0.783 MR135 690 800 110 0.026 3.068 Includes 760 775 15 0.105 0.777
The thicknesses are considered true widths. Gold assays were full assay-ton fire assays; silver assays were atomic absorption measurements from an aqua-regia leach solution. All assays were completed by American Assay Labs in Reno, Nevada, with industry-standard QA/QC procedures. All intervals are weighted averages of five-foot samples.
The program was successful in outlining continuous mineralization in a 2,200-foot by 1,200-foot area, immediately adjacent to known gold-silver resources. With additional in-fill drilling, this newly outlined mineralization has the potential to significantly increase the resources reported in our press release of November 5, 2002.
The Maverick Springs mineralization occupies an area 6,000 feet by 2,500 feet, indicating a very large mineralized system. Higher grades in gold have been intersected in the northern-most hole, MR135; and higher silver grades were encountered in MR130, the western-most drill hole. Maverick Springs is considered a silver-rich Carlin-type system and the mineralization is from 100 to 400 feet thick. As previously announced, subject to completion of a formal agreement, Vista will grant to Silver Standard Resources Inc. (Nasdaq: SSRI; TSX Venture: SSO) an option to acquire Vista's interest in the silver resources hosted in the project.
The exploration program was designed and supervised by qualified person Warren Bates, B.Sc., P.Geo., a graduate of the University of Manitoba with a B.Sc. (Honours.) majoring in Geology (1985). He is a member of the Association of Professional Geologists of Ontario.
Vista Gold Corp. is an international gold mining, development and exploration company based in Littleton, Colorado. Its holdings include the Paredones Amarillos project in Mexico; the Hycroft mine, Maverick Springs and Mountain View projects in Nevada; and the Amayapampa project in Bolivia.
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-KSB, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor or Jack Engele at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor, or Jack Engele, of Vista Gold Corp.,
Web site: http://www.vistagold.com/