Vista Gold Corp. Announces Extension of Mineralization at Mountain View Gold Project, Nevada
March 02 2005 - 7:28PM
PR Newswire (US)
Vista Gold Corp. Announces Extension of Mineralization at Mountain
View Gold Project, Nevada DENVER, March 2 /PRNewswire-FirstCall/ --
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 http://www.vistagold.com/
DATASOURCE: Vista Gold Corp. CONTACT: Greg Marlier of Vista Gold
Corp., +1-720-981-1185 Web site: http://www.vistagold.com/
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