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Vista Gold Corp. Announces Results From a Preliminary Assessment of Its Yellow Pine Gold Project, Idaho
Vista Gold Corp. Announces Results From a Preliminary Assessment of Its Yellow Pine Gold Project, Idaho.
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\n\nDENVER, Nov. 13 /CNW/ -- Vista Gold Corp. (TSX: VGZ; Amex) is pleased to\nannounce results from a preliminary assessment at its Yellow Pine project in\nValley County, Idaho, that is expected to be completed in November 2006, by\nPincock Allen & Holt (\"PAH\") of Lakewood, Colorado, in accordance with\nCanadian National Instrument 43-101 standards under the direction of Richard\nLambert, P.E. and Barton Stone, P.G., both independent qualified persons. \nThis preliminary assessment will be filed on SEDAR by the Corporation.\nThe Yellow Pine project is located in the Salmon River Mountains of\ncentral Idaho in an area of historical gold, antimony and tungsten mining know\nas the Stibnite or Yellow Pine Mining District. The district is located about\n60 miles east of McCall, Idaho, and 10 miles southeast of the small settlement\nof Yellow Pine, Idaho. Historically, the mine has produced about 700,000\nounces of gold from a combination of byproduct gold from tungsten and antimony\nmining and more recent heap-leach production from oxide ore. The remaining\nmineral resource consists of sulfide mineralization lying below and along\nstrike from the existing open pit.\n\nPAH reviewed the mineral resources it had estimated in a report completed\non November 17, 2003, in compliance with NI 43-101 standards, the results of\nwhich were previously reported by Vista in a press release dated November 19,\n2003, and confirmed the estimates are still valid. At a cutoff grade of 0.025\nounces of gold per ton, the mineral resources are:\n\n\n\n>\n\nIn undertaking the preliminary assessment, PAH considered the economic\nand technical parameters associated with development of the mineral resources\nby open-pit mining. The study, based on PAH's review of previous technical\nstudies and their own work, determined the best treatment approach would be an\non-site plant to produce a flotation concentrate that would be refined\noff-site. The potential development would produce an estimated 1.9 million\nounces of gold over a 10-year life.\nThe total capital cost over the project life was estimated by PAH to be\nUS$170 million and preproduction capital was estimated by PAH to be US$150\nmillion. According to the PAH study, at long-term gold prices over US$550 per\nounce, the project appears to be viable. PAH estimated that at a gold price\nof US...