Business
Vista Gold Corp., Mt. Todd Gold Project - Updated Resource Calculation Ounces of Gold
DENVER, Feb. 27 /CNW/ -- Vista Gold Corp. (Amex: VGZ; TSX: VGZ) is pleased to announce that an up...
About this update from Vista Gold Corp
[{"type":"text","content":"\n\n\n\nDENVER, Feb. 27 /CNW/ -- Vista Gold Corp. (Amex: VGZ; TSX: VGZ) is\npleased to announce that an updated gold resource estimate for the Batman\ndeposit at the Mt. Todd Gold Project in Northern Territory, Australia was\ncompleted on February 26, 2008, by Tetra Tech of Golden, Colorado, in\naccordance with Canadian National Instrument 43-101 standards. This updated\ngold resource estimate was completed under the direction of Mr. John Rozelle,\nP.G., an independent Qualified Person, utilizing standard industry software\nand resource estimation methodology. The previous resource estimate was\noriginally reported by Vista in a press release dated June 26, 2006. The\nupdated resource estimate incorporates the results of 9,460 assay intervals\nfrom 25 drill holes (all core holes) drilled by Vista in 2007 with assaying\ncompleted by Northern Australia Labs in Pine Creek and ALS-Chemex in Perth. \nThese results are in addition to the results of 91,225 assay intervals from\n730 drill holes (225 core, 435 reverse circulation and 70 rotary drill holes)\ndone by BHP Resources Pty Ltd., Zapopan NL and Pegasus Gold Australia Pty Ltd.\nused in the previous Mt. Todd resource estimate. Vista has also completed a\npreliminary evaluation of the development of the project, the results of which\nwere announced in January 2007. For more information on both studies please\nrefer to the Corporation's June 26, 2006 and January 4, 2007 press releases or\nthe Company's website (http://www.vistagold.com) for complete studies. A\ntechnical report for the updated resource estimate will be filed on SEDAR on\nor about March 14, 2008.\n\n\nThe new resource estimate as presented in the following table represents\nan increase in Measured Resources(1) of 769,633 ounces of gold and an increase\nin Indicated Resources(1) of 367,686 ounces of gold resulting in a combined\nincrease in Measured and Indicated Resources(1) of 1,137,319 ounces of gold at\na cutoff grade of 0.50 grams of gold per tonne (0.015 ounces of gold per ton).\nThe gold resource estimate for the Batman deposit as of February 26, 2008,\nreported at a cutoff grade of 0.015 ounces of gold per ton is set out below.\nThe estimate was prepared using GEMCOM software and used whole block kriging\nto estimate block values.\n\n\n Contained\n Metric Average Gold\nResource Tonnes Average Grade Short Tons ...