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Vista Gold Corp. (TSX:VGZ) announced an update to the mineral resource estimate for the Batman deposit at Mt. Todd gold project in Australia. The results from 18 new drill holes at Mt. Todd are included in the updated mineral resource estimate of 7.01 million ounces of Measured and Indicated gold, and 2.09 million ounces in the Inferred gold category.
Vista Gold Corp. (TSX:VGZ) announced an update to the mineral resource estimate for the Batman deposit at Mt. Todd gold project in Australia. The results from 18 new drill holes at Mt. Todd are included in the updated mineral resource estimate of 7.01 million ounces of Measured and Indicated gold, and 2.09 million ounces in the Inferred gold category.
As quoted in the press release:
Highlights of the updated mineral resource estimate include:
- A 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
- A 37% increase in contained gold ounces in the Measured and Indicated categories (+1,882,000 ozs) compared to the PFS.
Frederick H. Earnest, President and CEO of Vista, commented:
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.
Click here to read the full press release.
PR Newswire (https://s.tt/1mqsO)