Vista Gold Corp. (Amex: VGZ; TSX) is pleased to report final drill results from a recently completed 14-hole reverse circulation program totaling 12,920 feet at the Maverick Springs gold-silver project. The property is located approximately 50 miles southeast of Elko, Nevada, on the southeast extension of the Carlin Trend.
Maverick Springs is a large, flat-lying, Carlin-type system with gold-silver mineralization occurring in a zone 100 to 400 feet in thickness. The objective of all but one of the holes was infill drilling of previously outlined mineralization. All holes intersected mineralization, confirming gold-silver mineralization within a zone measuring approximately 2,500 feet north-south by 2,000 feet east-west. All holes were vertical and the intervals cited in the table below are thought to represent true thicknesses. One step-out hole (MR-139) was drilled 1,400 feet north of the infill area and intercepted anomalous gold mineralization, significantly expanding the potential for the project.
Intercepts indicating the potential for bulk-mineable gold mineralization include MR-141 which intersected 375 feet of mineralization at 0.011 ounces of gold per ton, MR-142 which intersected 280 feet of mineralization at 0.014 ounces of gold per ton, MR-144 which intersected 260 feet of mineralization at 0.014 ounces of gold per ton, MR-147 which intersected 245 feet of mineralization at 0.017 ounces of gold per ton, MR-143 which intersected 220 feet of mineralization at 0.011 ounces of gold per ton, and MR-138 which intersected 165 feet of mineralization at 0.011 ounces of gold per ton.
Higher grade gold intercepts included 10 feet of gold mineralization in drill hole MR-147 assaying 0.134 ounces of gold per ton.
The drilling program was performed between July 22 and October 21, 2003 under the overall supervision of Qualified Person Warren Bates, P.Geo. All samples taken were 5 feet in length and were assayed by American Assay Labs of Reno, Nevada. Sampling and assaying methods were conducted in accordance with Canadian National Instrument 43-101 best practices. A resource analysis will be done by an independent consulting firm in accordance with National Instrument 43-101 guidelines.
Silver Standard Resources, Inc. (TSX-V: SSO; Nasdaq: SSRI) funded the drilling program through a unique option/joint venture earn-in agreement with Vista, as previously disclosed, in which Silver Standard will acquire all silver mineralization hosted at Maverick Springs while Vista will retain all gold mineralization. In order to earn its interest, Silver Standard has paid cash and will contribute a total of US$1.2 million toward exploration programs, land holding costs and option payments.
Vista Gold Corp., based in Littleton, Colorado, evaluates and acquires gold projects with defined gold resources. Additional exploration and technical studies are undertaken to maximize the value of the projects for eventual development. The Corporation's holdings include the Maverick Springs, Mountain View, Hasbrouck, Three Hills, Hycroft and Wildcat projects in Nevada, the Long Valley project in California, the Yellow Pine project in Idaho, the Paredones Amarillos and Guadalupe De Los Reyes projects in Mexico, and the Amayapampa project in Bolivia.
Selected Drill Results, Maverick Springs, Nevada
Gold Silver
Grade Grade
Weighted Weighted
Hole From To Interval Average Average
No. Coordinates (feet) (feet) (feet) (oz./ton)(oz./ton)
MR-136 644769E 210 230 20 0.027 0.5
4444079N
335 345 10 0.009 0.1
585 740 155 0.009 1.2
incl. 585 650 65 0.012 2.5
MR-137-A 644848E 395 575 180 0.007 0.2
4444031N
incl. 535 560 25 0.014 0.8
MR-138 644634E 815 980 165 0.011 1.8
4443479N
MR-139 644780E 990 1005 15 0.011 0.1
4445084N
MR-140-A 644652E 510 605 95 0.014 0.3
4444654N
770 885 115 0.013 0.4
MR-141 644769E 530 905 375 0.011 1.7
4444079N
MR-142 (1) 644587E 660 940 280 0.014 0.8
4444298N
incl. 750 765 15 0.090 2.0
MR-143 (1) 644510E 650 870 220 0.011 1.8
4444208N
MR-144 644896E 175 220 45 0.010 0.1
4444277N
270 295 25 0.006 0.0
530 790 260 0.014 0.8
incl. 710 765 55 0.037 1.2
MR-145 644800E 320 345 25 0.006 0.0
4444205N
460 615 155 0.011 0.9
MR-146 (1) 644980E 325 345 20 0.005 0.0
4444365N
410 465 55 0.009 0.0
595 690 95 0.015 2.0
MR-147 (1) 644840E 555 800 245 0.017 1.2
4444510N
incl. 650 660 10 0.134 0.4
MR-148 644950E 730 835 105 0.010 1.0
4444480N
incl. 735 760 25 0.034 0.7
MR-149 (1) 644745E 515 625 110 0.007 0.2
4444490N
(1) Hole ending in mineralization
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Corporation's periodic reports, including the annual report on Form 10-K, as amended, filed with the U.S. Securities and Exchange Commission. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact Jock McGregor at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.
SOURCE: Vista Gold Corp.
CONTACT: Jock McGregor of Vista Gold Corp., +1-720-981-1185
Web site: http://www.vistagold.com/
