Highvista Gold Inc. Reports on Its Phase Two Drill Program at the Republicana Target at Its Canasta Dorada Gold Project
August 22 2012 - 11:00AM
Marketwired Canada
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Highvista Gold Inc. ("Highvista" or the "Company") (TSX VENTURE:HVV) is pleased
to report on the results of its Phase Two drill program at the Republicana
Target at its 100% owned Canasta Dorada Gold Project, located within the Sonoran
Gold Belt, in Sonora State, Mexico.
"We are very pleased with the results from this drill program at the Republicana
Target." said Rick Adams, President and CEO of Highvista. "We continue to expand
the area of gold mineralization at Republicana and have drilled our thickest
intersections to date. Moreover, the mineralized structure is located
near-surface and the grades of gold mineralization intersected are typical of
the active gold heap-leach operations in the Sonoran Gold Belt."
La Republicana Target
The La Republicana target was initially identified through a surface mapping and
sampling program conducted during 2011. Anomalous gold and silver was identified
over a surface area measuring approximately 2,000 metres by 1,000 metres.
This second phase of drilling included six reverse circulation drill holes
totaling 490 meters. The deepest hole, CD-12-81, was drilled to a depth of 105
metres. To date, Highvista has drilled twelve reverse circulation drill holes
totaling 1,256 metres at Republicana. Significant assay results from the Phase
Two program are presented in Table 1.
Table 1: Significant Drill Intercepts for the La Republicana Target
----------------------------------------------------------------------------
Gold
Gold Silver Equivalent
Hole From To Interval Grade Grade Grade
Number (metres) (metres) (metres) (g/t) (g/t) (g/t) Comments
----------------------------------------------------------------------------
CD-12-79 22.6 45.5 22.9 0.363 2.1 0.404
----------------------------------------------------------------------------
63.8 76.0 12.2 0.272 3.2 0.335
----------------------------------------------------------------------------
CD-12-80 0.0 71.4 71.4 0.249 3.1 0.311
----------------------------------------------------------------------------
including 8.9 62.3 53.4 0.313 4.0 0.393
----------------------------------------------------------------------------
Hole ended in
CD-12-81 2.8 104.9 102.1 0.216 2.3 0.261 mineralization
----------------------------------------------------------------------------
including 57.7 104.9 47.2 0.380 3.8 0.457
----------------------------------------------------------------------------
less
than Hole ended in
CD-12-82 48.5 50.1 1.6 0.428 0.2 0.428 mineralization
----------------------------------------------------------------------------
Note: Intervals shown are hole length (true width of mineralization is
unknown at present). Silver/Gold ratio of 50:1 used for gold equivalent
grade (metallurgical recoveries are assumed to be 100%).
Mineralization at Republicana consists of a quartz stockwork zone within a
rhyolite/metarhyolite. Drilling and rock chip sampling to date indicates that
the mineralized structure is approximately 1,000 metres long (southeast to
northwest), 300 to 400 metres wide (northeast to southwest), with thickness
ranging from 20 metres to 100 metres. The mineralized structure dips gently to
southwest (30 to 40 degrees), outcrops to the northeast and remains open to the
northwest, southeast and down-dip.
"We are excited with the latest drill results at Republicana." said Rick Adams,
President and CEO of Highvista. "We have discovered a second zone of gold
mineralization at Canasta Dorada. Republicana represents an attractively sized
target for a low-grade, bulk-tonnage gold deposit. The gold grades we are
encountering at Republicana are similar to the gold grades we had at our
Castillo heap-leach mine in Durango, Mexico. I note that the Measured and
Indicated Gold Resources as currently reported by Argonaut Gold for the Castillo
Mine are 165.7 Mt grading 0.32 g/t gold." Mr. Adams was previously a founder of
Castle Gold, which constructed and operated the Castillo heap-leach mine in
Durango, Mexico. Castle Gold was later sold to Argonaut Gold in early 2010.
Subject to available funding, Highvista intends to complete a twenty hole (3,000
metre) Phase 3 drill program at Republicana in the fourth quarter of 2012 and,
based upon the results of this drill program, prepare a maiden resource
estimate.
Qualified Person
This press release was reviewed and prepared by Rick Adams, P. Eng., the
President, CEO and a Director of the Company, who is recognized as a Qualified
Person under the guidelines of National Instrument 43-101.
Quality Control - Sample Preparation, Analysis and Security
All samples were recorded and delivered to the ALS Chemex sample preparation lab
in Hermosillo, Sonora, Mexico by trusted Company personnel or ALS Chemex
employees. Pulps of each sample were prepared in Hermosillo and sent to ALS
Chemex, Vancouver, Canada, an ISO 9001-2000 certified full service laboratory.
Each pulp was analyzed using 30g fire assay for gold with AAS finish (ALS method
Au-AA23), and a nitric aqua regia digestion using conventional ICP-AES analysis
for an additional 35 elements, including silver (ALS method ME-ICP41). Over
limit samples for gold were subject to 30g fire assay with gravimetric finish
(ALS code Au-GRA21) and over limit samples for silver were subjected to an aqua
regia (HNO3-HCl) digestion using conventional ICP-AES analysis (ALS code
Ag-OG46). Highvista implements an Analytical Quality Assurance Program to
control the analytical quality of assays in its exploration work. This program
includes the systematic addition of blank samples and certified standards to
each batch of samples sent for analysis at commercial laboratories. Blank
samples are used to check for possible contamination in laboratories while
certified standards determine the analytical accuracy and precision.
Details of quality assurance/quality control procedures for sample preparation,
analysis and security are reported in detail in the Canadian National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant
Technical Report filed on SEDAR (www.sedar.com) on September 27, 2011 for the
Canasta Dorada Property.
About Highvista
Highvista owns 100% of a Mexican subsidiary that controls the 24,215 hectare
Canasta Dorada Gold Project. This project is located in the Sonoran Gold Belt
immediately adjacent to AuRico Gold's El Chanate Mine.
Details of Highvista's Canasta Dorada Project can be viewed at the Company's
website at www.highvistagold.com.
READER ADVISORY
Statements in this press release may contain forward-looking information
including, but not limited to, statements with respect to the Company's proposed
drill program. Information concerning mineral resource estimates and the
interpretation of exploration results may also be considered forward-looking
statements as such information constitutes a prediction of what mineralization
might be found to be present if and when a project is actually developed. Any
statements that are contained in this press release that are not statements of
historical fact may be deemed to be forward looking statements. The reader is
cautioned that assumptions used in the preparation of any forward-looking
information may prove to be incorrect, including but not limited to, the ability
of the Corporation to raise sufficient capital to pay the exploration and
development costs on the properties, the availability of skilled labour,
availability of equipment, and future capital and operating costs. Events or
circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. Factors that
could cause actual results to differ materially from any forward-looking
information include, but are not limited to, the unavailability of sufficient
capital to pay for proposed exploration and development, the risks of capital
and operating costs varying significantly from estimates, delays in obtaining or
failures to obtain required governmental, environmental or other project
approvals, inflation, commodity price and exchange rate fluctuations, the
uncertainty of estimates and projections relating to production, health, safety
and environmental risks, delays in the development of projects, uncertainties
relating to the interpretation of the geology, unanticipated operational or
technical difficulties and other factors. The reader is cautioned not to place
undue reliance on any forward-looking information. Such information, although
considered reasonable by management at the time of preparation, may prove to be
incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.
Highvista Gold (TSXV:HVV)
Historical Stock Chart
From Oct 2024 to Nov 2024
Highvista Gold (TSXV:HVV)
Historical Stock Chart
From Nov 2023 to Nov 2024
