Vista Gold Corp has returned excellent anomalous gold assays from surface sampling as part of its most recent surface exploration program on two specific areas within the exploration licences of its Mt Todd Gold Project in the Northern Territory.
Both targets returned significant anomalous gold assays, including up to 4 grams of gold per tonne at the Irwins target.
Vista Gold President and CEO Frederick Earnest said: “The exploration licences at Mt Todd encompass 1,650 square kilometres and are largely underexplored.
“As part of our annual exploration program for the exploration licences, we collected more than 600 rock chips and soil samples from an area of interest covering approximately 1.6 square kilometres on the Cullen-Australis Structural Corridor.
“The results demonstrate strong geologic similarities to the area in the mining licenses where we previously delineated four highly prospective exploration targets through our 2021-22 drilling program.
“We are encouraged by the tenor of these results, which reinforce our belief that the Mt Todd land package has tremendous discovery potential.”
The Mt Todd mine site is about 50 kilometres north of Katherine and 250 kilometres south of Darwin.
The site covers a mine tenement of more than 153,700 hectares, which includes both the Batman and Quigley’s gold deposits.
The site was acquired by Vista Gold and its wholly owned subsidiary Vista Gold Australia in 2006.
Currently not in production, Vista Gold is working with the authorities to obtain the necessary permits for the mine prior to making a final investment decision on the project.
A favorable investment decision could lead to a two-year construction phase employing about 450 people with an ongoing workforce of 350 during operations.
