Vista Gold Reports Promising Drill Results from Mt Todd Project
Vista Gold Corp. Shares Exciting Interim Drill Results
Vista Gold Corp. (NYSE American and TSX: VGZ) has recently unveiled interim results from Phase 2 of its 2024 drilling program at the Mt Todd gold project. Located in Northern Territory, Australia, this project is gaining significant attention due to its promising mineralization potential.
Overview of Recent Drilling Activity
The Phase 2 drilling campaign commenced earlier this year, focusing on the South Cross Lode zone (SXL), which is within the Batman deposit area. Initial drilling aimed to explore near-surface mineralization, covering an area that was previously classified as waste during a past feasibility study.
Drill Results and Findings
Recent drill results have brought excitement as they reveal high-grade intercepts. Key highlights from the drilling include:
- VB24-014: Recorded a significant intercept of 9.4 meters at 3.35 grams of gold per tonne, including an impressive 0.5 meters at 50.0 g Au/t.
- VB24-015: Showed three intervals exceeding 1 g Au/t, with one section measuring 8.0 meters at 1.82 g Au/t.
- VB24-016: Demonstrated three intervals over 1 g Au/t, including 22.0 meters at 1.74 g Au/t.
- VB24-022: Produced two intervals over 1 g Au/t, showcasing potential with a peak of 4 meters at 7.18 g Au/t.
These findings suggest that the SXL might host higher-grade mineralized zones compared to the Batman deposit itself, which typically features thinner and closely spaced veins.
Future Plans and Development Strategies
President and CEO Frederick H. Earnest expressed optimism regarding the ongoing drilling campaign. He emphasized the significance of the SXL zone, which distinctly shows potential for wider and richer high-grade veins. The company anticipates that this current phase of drilling will bolster their understanding of the structural and mineralization characteristics of the SXL.
Resource Assessment and Production Goals
Upon completion of the Phase 2 drilling, Vista intends to update the mineral resource estimates for the Mt Todd project. Plans for production target an annual output of 150,000 to 200,000 ounces of gold, with an increased cut-off grade of 0.45 to 0.50 g Au/t. The goal is to achieve a mineral reserve grade of approximately 1 g Au/t while keeping initial capital expenditures below $400 million.
Investment Considerations
With the gold market showing resilience, Vista Gold aims to position Mt Todd as a premier development opportunity. Their strategy focuses on advancing the project in a disciplined manner to enhance its value amidst a bullish gold forecast and decreasing global discoveries of major gold deposits.
About Vista Gold Corp.
Vista Gold Corp. is dedicated to propelling the Mt Todd gold project, promoting its potential as an advanced development-stage gold deposit. With strategic local infrastructure, community backing, and all necessary environmental and operational permits secured, Vista Gold is set to make significant strides within the gold sector.
Frequently Asked Questions
What are the recent drill results from Mt Todd?
The recent drill results show significant gold intercepts, with highlighted measurements exceeding 3 g Au/t in multiple holes.
How does the SXL zone compare to the Batman deposit?
The SXL zone appears to contain wider and richer high-grade veins than the more closely spaced veins found in the Batman deposit.
What are Vista Gold's plans for the future of Mt Todd?
Vista Gold plans to update mineral resource estimates and target annual gold production between 150,000 to 200,000 ounces.
What is Vista Gold's current strategy regarding the gold market?
The company's strategy emphasizes advancing Mt Todd in a disciplined way to maximize its value amidst a favorable gold market environment.
How can I learn more about Vista Gold Corp.?
Further information about Vista Gold can be found on their official website or by contacting their investor relations department.
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