Mineralized Intercept 500 Meters North off Batman Deposit
DENVER, CO - Vista Gold Corp. reported positive results of hole VB21-002 at its Mt Todd Gold Project in the Northern Territory, Australia. This 459-meter drill hole intersected mineralization on-trend with the Batman deposit, 500 meters north-northeast in an area with no deep drilling and encountered a 30-meter intercept grading 1.23 g/t Au. The results of this hole demonstrate the strong potential for continuity of gold mineralization along the 5.4 km strike length of the Batman-Driffield Structural Trend located on Vista’s mineral licenses (“MLs”). As a result, the Company announced that it is expanding its drilling program to include an additional 10 holes to focus deep drilling along the 1.0 km strike area from the Batman deposit north to the Golf–Tollis/Penguin targets.
Frederick H. Earnest, President and Chief Executive Officer, stated, “Hole VB21-002 validated our belief that mineralization along the structurally-controlled Batman-Driffield Trend is more continuous and widely occurring than previously thought. This hole also provided important initial geology and mineralization information in an area previously undrilled at depth. As we move to the north and east of the Batman deposit, the intrusive which mobilized the gold in this district is deeper. This, combined with the orientation and intersection of structural zones, leads us to believe there is a compelling opportunity to add to the resource base of the Mt Todd project by focusing on targets below the shallow historic drilling in this area. Following on our recently completed drill program, we have added a second drill and are now moving forward with an initial 10-hole drilling program to test and better define the host structures underlying known gold occurrences and to evaluate the potential to significantly increase the known mineral resources in the area extending from the Batman deposit 1 km north to the Golf–Tollis/Penguin targets. Successful achievement of these objectives is expected to lay the groundwork for project growth and improved shareholder value.”
Vista has contracted a second drill rig to accelerate the drilling of the next phase of the Batman-Driffield exploration program. Ten holes totaling 3,000 meters are planned in the area north of the Batman deposit and extending to the area of the Golf-Tollis/Penguin targets, a strike length of 1.0 km. The first holes will be drilled in the general vicinity of recently completed hole VB21-002 – both up and down plunge. The holes in this program are planned to test structural zones and intersections of structures that are believed to be similar to zones and intersections that are known to host significant gold resources in the Batman deposit. The lateral extent of the historic drilling results suggests that deeper drilling around these targets could significantly increase the total gold resources at Mt Todd.
On the large land package that encompasses Mt Todd, there are two-principle mineralized structural trends; the Batman-Driffield Trend and the Cullen-Australis Trend. The Batman-Driffield Trend, which has the greatest number of known mineralized prospects and has been the subject of the most detailed work, is predominantly located within the boundaries of the Mt Todd MLs. Figure 1 provides detail of the portion of the Batman-Driffield Trend within the MLs which hosts the Batman deposit and a number of known mineral occurrences. As shown in this plan view, Long-Section A-B covers a linear length of ~5.4 Km and extends from the Batman deposit north to the Quigleys Extension.