Denver, Colorado, September 4, 2012 - Vista Gold Corp. (TSX & NYSE MKT: VGZ) (“Vista” or the “Company”) today reported the results of an updated mineral resource estimate for the Batman deposit at the Company’s Mt. Todd gold project in Northern Territory, Australia.
The updated mineral resource estimate includes 18 drill holes (13,036 total meters) from the Company’s ongoing resource conversion drilling program at the Mt. Todd gold project.
The Batman deposit is now estimated to contain 7.01 million ounces of gold in the Measured and Indicated categories and 2.09 million ounces in the Inferred category. The drilling program is ongoing and new results are expected to be included in a further updated resource estimate that will be the basis for a feasibility study, which the Company expects to release in early 2013.
Frederick H. Earnest, President and CEO of Vista, stated, “I am very pleased with the continued growth in the estimated gold resource of the Batman deposit and we have not yet completed our drill program. This updated resource estimate represents an increase of over one million ounces in the Measured and Indicated categories since our last resource estimate in September 2011 and an increase of over 1.8 million ounces of Measured and Indicated categories since the completion of the January 2011 preliminary feasibility study.
These estimates support the decision to evaluate a project larger than the 30,000 tonnes per day operation contemplated in our January 2011 preliminary feasibility study (the "PFS"). The results of our past and ongoing drilling programs combined with technical evaluations currently in progress support my belief that Mt. Todd is becoming a world-class gold project in one of the world’s more favorable mining jurisdictions.”
Highlights of the updated mineral resource estimate include:
• 17% increase in contained gold ounces in the Measured and Indicated categories (+1,024,000 ozs) compared to the previous resource estimate (September 2011); and
• 37% increase in contained gold ounces in the Measured and Indicated categories (+1,882,000 ozs) compared to the PFS.
