- Vista Gold (VGZ) has announced positive results for the two remaining holes of its phase two drilling program at Mt Todd
- In phase two, Vista Gold drilled 3,725 metres and encountered promising gold grades in each hole
- The next steps for the company’s ongoing drill program will include infill and step-out drilling
- Vista Gold is a gold mining company engaged in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects
- Vista Gold Corp. (TSX:VGZ) is up 1.02 per cent, trading at $0.99 per share
Vista Gold (VGZ) has announced positive results for the two remaining holes of its phase two drilling program at Mt Todd.
The Mt Todd gold project, located in Northern Territory, Australia, is the largest undeveloped gold project in Australia, according to the company.
In phase two, Vista Gold drilled 3,725 metres and encountered promising gold grades in each hole.
“Phase 2 of our drilling program successfully achieved our primary objective of identifying multiple areas north of the Batman deposit where additional resources might be added most efficiently in the future,” said Vista president and CEO Frederick Earnest.
“From our drilling at Batman,” added Mr. Earnest, “we expected the intrusive to be present at a depth of approximately 800 meters.”
Drilling did not intercept an intrusive in that area, but instead intersected three zones that contained over one gram of gold per tonne “within a broad zone of mineralization.”
“I’m pleased with the thoroughness of our exploration programs and our understanding of the geology and resource growth potential in the area north of the Batman deposit,” said Mr. Earnest.
In one hole, drilling intersected over 100 metres of mineralization, which included:
- 10.0 meters at 1.29 g/t gold from 469 meters down hole
- 22.7 meters at 1.10 g/t gold from 503 meters down hole
- 13.2 meters at 1.03 g/t gold from 566 meters down hole
The next steps for the company’s ongoing drill program will include infill and step-out drilling with the goal of expanding the mineral resource.
“In addition to the ongoing exploration, completing a definitive feasibility study (DFS) for Mt Todd will be an important milestone and catalyst,” said Mr. Earnest.
Vista Gold is a gold mining company engaged in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects.
Vista Gold Corp. (TSX:VGZ) is up 1.02 per cent, trading at $0.99 per share as of 9:30 am ET.