Vista Gold announces S. Sulawesi project resources estimate
Thursday, June 7 2007 - 01:36 AM WIB
According to the company, the project now has 1.6656 million ounces of gold with measured resources stood at 296,000 ounces, based on a cutoff grade of 0.5 g Au per tonne.
|
Tonnes(000s) |
Grade (grams per tonne) | Contained Gold Ounces | |
| Measured resources | 7,084 | 1.30 | 296,000 |
| Indicated resources | 34,609 | 1.22 | 1,360,000 |
| Measured and indicated resources | 41,693 | 1.24 | 1,656,000 |
Vista has retained Gustavson to undertake a preliminary assessment of a potential development of the deposit using the results of the resource analysis contained in the current report and other technical information.
"Our recent drilling program and reinterpretation of the ore zones has resulted in an improved understanding of the deposit and a significantly higher deposit grade compared to our earlier estimate, as previously reported. The measured and indicated resources are currently estimated to be 15% higher grade than the earlier estimate at the same cut-off grade. This means that capital and operating costs will be proportionately lower and the overall project economics will be improved. We are embarking on a preliminary assessment to gain an understanding of the overall project economics at current gold prices and to provide direction for a bankable feasibility study,” Mike Richings, Vista's President and CEO said. (alex/denny)