Vista Gold Corp. OUTLINES MT TODD PRIORITIES
http://www.vistagold.com/news/news-2021/716-istaoldorputlinestoddriorities20210901035002
"Denver, Colorado, September 1, 2021 – Vista Gold Corp. (NYSE American and TSX: VGZ) (“Vista” or the “Company”) is pleased to provide an update on its priorities for advancing the Company’s 100% owned Mt Todd gold project (“Mt Todd” or the “Project”) located in Northern Territory, Australia.
Frederick H. Earnest, Vista’s President and Chief Executive Officer, commented, “Mt Todd is a world-class gold project in a well-established and mining-friendly jurisdiction. We have advanced and de-risked the Project and with the approval of the Mining Management Plan in June (the last of the major permits for the project), Mt Todd is partner ready. We have aligned our current activities to support an accretive strategy for the development of Mt Todd and are focused on three priorities to increase shareholder value.”
Definitive Feasibility Study
In July 2021, Vista commenced the engineering work to complete a definitive feasibility study (“DFS”) for Mt Todd. Management expects the DFS to support the Company’s partnering process by providing greater confidence with regards to project designs and cost estimates, increasing gold reserves, and improving overall economics reflective of current market conditions. The work being completed complements and builds on the extensive amount of engineering previously completed. With confidence that the process flowsheet is now well defined, we are finalizing the engineering in the process plant and completing work for the minor areas not previously completed to feasibility-level standards, which include piping, electrical, and instrumentation. The mine plan is being updated using a gold price more reflective of the current gold price. This change is expected to increase gold reserves and extend the mine life. Engineering studies to evaluate autonomous truck haulage and trade-off studies to assess the potential benefits of contract mining and a third-party owner/operator of the power plant are also being completed. The DFS is on schedule and expected to be completed in the first quarter of 2022 .
[Blockierte Grafik: https://www.vistagold.com/images/Screen_Shot_2021-09-01_at_8.47.44_AM.png]
Figure 1 – 3D Rendering of Processing Plant
Exploration Drilling Program
The second phase of drilling, which included 18 holes and approximately 6,000 meters, was completed in August. Holes announced to date have successfully identified several gold-bearing structures that connect the Batman pit and the Golf-Tollis deposit. Assays for the final two holes of this phase, VB21-012 and VB21-013, are expected to be reported later this month. The third phase of drilling, totaling an additional 3,000 meters, has commenced and is expected to continue through year end. The purpose of the current drill program is to identify areas where future infill drilling will have the greatest potential to add resource ounces close to the Batman deposit.
[Blockierte Grafik: https://www.vistagold.com/images/Screen_Shot_2021-09-01_at_8.48.21_AM.png]
Figure 2 – Exploration Drilling Program
Accretive Development Strategy
Management continues to engage with several companies in technical assessments and early-stage discussions for the development of Mt Todd, but the process has been slowed by COVID-related travel restrictions. Vista is monitoring Australia’s progress as the country advances toward reopening its international borders. This delay has provided the Company with a window of opportunity in which to complete the DFS. The expected outcome is a project with a larger reserve, longer life, and improved economics reflective of the current market conditions. We are pursuing a strategic development transaction that reflects the inherent value of Mt Todd to Vista’s shareholders, and we are focused on improving the economic potential of the Project and increasing shareholder value in a cost-effective manner .
Conference Attendance
The Company also announced that management will participate in several industry-focused investor conferences later this month. Mr. Earnest will present at the Precious Metals Summit on Friday, September 10 at 9:15 a.m., the Denver Gold Forum on Monday, September 13 at 2:00 p.m., and the H.C. Wainwright 23rd Annual Global Investment Conference on Monday, September 13 at 7:00 a.m. (all times are MDT). The webcasts may be accessed through the Company’s website under the Investors/Events and Webcasts page.
About Vista Gold Corp.
Vista is a gold project developer. The Company’s flagship asset is the Mt Todd gold project located in the Tier 1, mining friendly jurisdiction of Northern Territory, Australia. Situated approximately 250 km southeast of Darwin, Mt Todd is the largest undeveloped gold project in Australia and, if developed as presently designed, would potentially be Australia’s fourth largest gold producer on an annual basis, with lowest tertile in-country and global all-in sustaining costs. All major operating and environmental permits have now been approved.
For further information, please contact Pamela Solly, Vice President of Investor Relations, at (720) 981-1185................................"
