Vista Gold Corp. (Amex: VGZ; TSX) is pleased to report final drill results from a recently completed drilling program at the Mountain View Gold Project in Nevada.
The Mountain View Gold Project is located in northwest Nevada, approximately 40 miles west of the Corporation's Hycroft mine near Winnemucca. It is part of the Deephole Mining District which saw gold production between 1938 and 1951, with renewed exploration activity beginning in 1984. Vista acquired the project in October 2002 from Newmont Capital Limited, a subsidiary of Newmont Mining Corporation.
The five-hole reverse circulation program totaled 4,070 feet. Two drill holes (MV04-192 and MV04-193) were abandoned before reaching bedrock due to water inflows in the gravels above the bedrock. The remaining three holes encountered gold mineralization. Significant intercepts include MV04-194 which intersected 110 feet of mineralization grading 0.039 ounces of gold per ton between 245 and 355 feet, and 160 feet grading 0.024 ounces of gold per ton between 530 and 690 feet. MV04-195 intersected 340 feet of mineralization grading 0.045 ounces of gold per ton, including a higher grade interval of 15 feet assaying 0.421 ounces of gold per ton from 845 to 860 feet. MV04-196 intersected 65 feet of mineralization grading 0.031 ounces of gold per ton from 665 to 730 feet.
The results of MV04-194, 195 and 196 indicate the potential for bulk-mineable gold mineralization. MV04-195 was drilled 60 feet below a hole drilled earlier, MV94-95, and the results indicate the down-dip extension of mineralization, including higher grade intercepts that correlate between these two holes.
The drilling program was performed between October 13 and November 20, 2004, under the overall supervision of Warren Bates, P.Geo., Vista's Chief Geologist. Mr. Bates is a qualified person for the purposes of Canadian National Instrument 43-101. All samples taken were five feet in length and were assayed by American Assay Labs of Reno, Nevada. Drill hole MV04-194 was a vertical hole, MV04-195 and 196 were angle holes drilled from west to east. Sampling and assaying methods were conducted in accordance with Canadian National Instrument 43-101 best practices. Selected weighted-average assay results are shown in the following table:
Selected Drill Hole Assay Results Hole From To Interval Gold From To Interval Gold (feet) (feet) (feet) Ounces (feet) (feet) (feet) Ounces Per Per Ton Ton MV04- 194 245 355 110 0.039 and 530 690 160 0.024 MV04- 195 685 1025 340 0.045 Including 845 860 15 0.421 MV04- 196 665 730 65 0.031
"The work at Mountain View demonstrates Vista's ability to enhance our projects through strategic drilling," stated Mike Richings, President and CEO. "The results of this drilling program demonstrate the potential to add value to this project."
Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Wildcat projects and Hycroft mine, all in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe de los Reyes projects in Mexico, the Amayapampa project in Bolivia, and an option to purchase the Awak Mas project in Sulawesi in Indonesia.
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-K 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 Greg Marlier at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com
SOURCE: Vista Gold Corp.
CONTACT: Greg Marlier of Vista Gold Corp., +1-720-981-1185
Web site: http://www.vistagold.com/