Vista Gold 2024 Drilling Demonstrated Potential to Increase Mt Todd Mineral Reserves
__________________ NEWS _________________
Vista Gold 2024 Drilling Demonstrated Potential to Increase Mt Todd Mineral Reserves
Denver, Colorado, February 4, 2025 – Vista Gold Corp. ( NYSE American and TSX: VGZ) announced that the
results of its 2024 Mt Todd drilling program indicate the potential to increase gold mineral reserves in the Batman
deposit and have successfully delineated the South Cross Lode (“SXL”) over a 400 meter strike length. These drill
results, and those from the 2020-2022 drilling program, will be included in the block model for the updated Mt Todd
mineral resources estimate and new feasibility study.
Phase 1 drilling, in conjunction with the 2020-2022 drilling program, provided information to extend the boundaries
of the mineralization in the northern section of the Batman deposit . As shown in Figures 2, 3, and 4, drilling
intercepted gold grades higher than estimated in the current block model and mineralization outside the limits of the
current resource envelope. These results provide a basis to increase gold mineral resources in the area of the Batman
deposit and convert a portion of the current mineral resources in this area into proven and probable mineral reserves.
Phase 2 drilling defined the mineralized boundaries of the SXL over the strike length drilled and intersected high-
grade sub-structures in the lower portion of thirteen holes, as shown in Figure 5. Additionally, the drill hole spacings
are acceptable for the definition of measured and indicated mineral resources. Given the location of the SXL, these
drilling results are expected to support the expansion of the mineral resource shell, with the potential to increase gold
mineral reserves.
Frederick H. Earnest, President and CEO of Vista, stated, “ The results of our 2024 Mt Todd drill program are
encouraging. We drilled 34 diamond core holes totaling 6,776 meters and every hole intercepted mineralization ,
with many holes in Phase 1 encountering higher grades than estimated in the current block model. The results
indicate potential to upgrade previously defined mineral resources to mineral reserves and add new mineral resources
from an extension to the Batman core zone. We believe we successfully accomplished the objectives of Phase 1 of
the drill program.
“The Phase 2 drilling results provide us with a much better understanding of the mineralization in the South Cross
Lode. We encountered sheeted-vein mineralization consistent with the Batman deposit in the upper portions of the
holes and regularly intersected more distinct, wider, and in many instances, higher grade veins deeper in the drill
holes. The discovery of higher -grade and wider veins in the South Cross Lode is exciting and something that we
believe merits more analysis.”
Mr. Earnest concluded, “The results from the 2024 and 2020-2022 drilling programs are expected to be included in
the mineral resource block model that is currently being completed as part of the recently announced Mt Todd
feasibility study. Our analysis of the results of these drilling programs indicates potential to convert mineral resources
to mineral reserves at the Mt Todd gold project. The new mineral resource estimate is anticipated to be announced
as part of the Mt Todd feasibility study, scheduled for completion mid-2025.”
8310 S. Valley Highway
Suite 300
Englewood, CO 80112
Phone: 720-981-1185
Trading Symbol: VGZ
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Overview
Phase 1
The Phase 1 drilling was designed to augment historical data from reverse circulation (“RC”) drilling and to generally
improve the quality of geologic data in the northern part of the Batman deposit. The augmentation was completed
through core drilling in the area just south of where drilling was completed in 2020-2022. Figure 1 shows the location
of the Phase 1 and relevant 2020-2022 drill holes. The combined results of these drilling programs provide better
definition of the mineralized boundaries, continuity, and limits in the north portion of the Batman deposit.
During Phase 1, a total of 11 holes were drilled in the northern end of the Batman deposit including several holes
drilled outside the limits of blocks defined in the current mineral resource model. All of the holes were collared
within the limits of the pit design for the 2024 Feasibility Study (as defined below) . Some holes exceeded our
expectations in terms of the length of mineralized intercepts and gold grade , with many intercepts having returned
gold grades that exceeded block model values in the current mineral resource model. This has occurred in the past
as we have replaced RC drill ing data with core drilling data and further demonstrates potential to increase gold
mineral reserves in the Batman deposit. See Figures 2, 3, and 4.
Phase 1 drilling is expected to result in an increase in mineral resources in the north end of the Batman deposit.
Additionally, w e expect this drilling to result in the conversion of inferred mineral resources to measured and
indicated mineral resources within the 2024 Feasibility Study pit design. This provides further confidence that
mineral reserves will be increased.
The geological characteristics observed in these holes are consistent with the rest of the Batman deposit. While we
believe that the metallurgical characteristics of material in the north extension will be very similar to the rest of the
Batman deposit, metallurgical testing on samples from this phase of drilling is in progress.
Phase 2
Phase 2 drilling focused on the SXL, a narrower mineralized structure adjacent to the Batman deposit, with a defined
strike length of over 400 meters. The 23 holes in Phase 2 delineated the SXL mineralization identified in the data
from historical RC drilling holes. The data collected from this drilling define the mineralized boundaries of the SXL
structure and demonstrate the potential to increase Mt Todd mineral resources. Phase 2 drilling was conducted with
adequate density and spacing to define a portion of the expected increase as measured and indicated mineral
resources. Hence, w e anticipate that some shallower areas may be included in mineral reserves for the 2025
feasibility study.
The drilling results revealed that the SXL is host to more discreet and, in certain zones, wider high-grade veins with
thicknesses that exceed one meter, compared to the thinner, more closely spaced sheeted veins typically observed in
the Batman deposit . While we anticipate that the SXL material will be amenable to processing using the same
flowsheet as the ore from the Batman deposit, metallurgical testing on samples from the SXL is currently in progress.
The results from the Phase 2 drilling intersected mineralized intervals both near the surface and at depth, with
exceptionally higher grades observed at depths greater than 100 meters downhole. Please refer to Figure 5 for a long
section illustrating the results of the SXL drilling. These findings indicate potential for expansion in the northeastern
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section of the current mineral resource shell, including areas of the block model that were previously unclassified
due to low data density. The SXL structure offers opportunity to increase mineral reserves, as we believe it remains
open at depth and along strike to the northeast, potentially connecting with other exploration targets identified in our
2020-2022 drilling program.
Figure 1. Phase 1 drill holes located within the current mineral resource shell and nearby holes from the 2020-2022
drilling program, showing the extension of the mineralized boundaries of the Batman core zone and relative position
to the SXL zone.
1 Resource Shell defining the mineral resource inventory as described in the 2024 Feasibility Study.
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Figure 2. Cross section (8435 850N), illustrating drill holes VB24 -006 and VB24 -001 compared to the current
mineral resource shell and pit design featuring blocks with a cut-off grade above 0.40 g Au/t. Intercepted gold grades
higher than current estimation and areas to be included in the upcoming mineral resource estimation are circled.
1 Mineral Resource Shell defining the mineral resource estimate as described in the 2024 Feasibility Study.
2 Pit design defining the mineral reserves as described in the 2024 Feasibility Study.
3 Resource block model as described in the 2024 Feasibility Study.
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Figure 3. Cross section (8435800N), illustrating drill holes VB24-007 compared to the current mineral resource
shell and pit design featuring blocks with a cut-off grade above 0.40 g Au/t. Intercepted gold grades and areas to
be included in the upcoming mineral resource estimation are circled.
1 Mineral Resource Shell defining the mineral resource estimate as described in the 2024 Feasibility Study.
2 Pit design defining the mineral reserves as described in the 2024 Feasibility Study.
3 Resource block model as described in the 2024 Feasibility Study.
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Figure 4. Cross section (8435750N), illustrating drill hole VB24-005 compared to the current mineral resource shell
and pit design featuring blocks with a cut-off grade above 0.40 g Au/t. Intercepted gold grades higher than current
estimation and areas to be included in the upcoming mineral resource estimation are circled.
1 Mineral Resource Shell defining the mineral resource estimate as described in the 2024 Feasibility Study.
2 Pit design defining the mineral reserves as described in the 2024 Feasibility Study.
3 Resource block model as described in the 2024 Feasibility Study.
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Figure 5. Long section of the SXL mineralized structure, displaying Phase 2 drill holes with intercepts over 5.0 g
Au/t. Intervals with over 20 meters and grades greater than 1.0 g Au/t are called out.
Table 1. Summary of Phase 1 drill holes.
Hole No. Grid Coordinates Survey Data Intersections*
MGA94
Grid
Easting
MGA94
Grid
Northing
RL
(m)
Azimuth
(°)
Dip
(°)
Depth
(m) From
(m)
To
(m)
Interval
(m)
True
Thickness
(m)
Grade
(g Au/t )
VB24-001 187320 8435851 162 267.6 -55.5 362.2 41.0 51.0 10.0 7.8 0.62
and 142.0 199.5 57.5 46.0 1.17
and 214.0 238.0 24.0 19.4 0.54
VB24-002 187251 8435649 171 267.3 -53.8 341.3 49.0 67.0 18.0 14.2 0.49
and 72.0 85.0 13.0 10.3 0.60
and 90.0 98.0 8.0 6.4 0.45
and 103.0 117.0 14.0 11.5 0.49
and 123.0 152.0 29.0 23.5 0.47
and 158.0 180.0 22.0 17.6 0.77
and 209.1 217.0 7.9 6.4 0.73
VB24-003 187271 8435598 171 268.0 -54.6 368.3 53.0 60.0 7.0 5.4 0.54
and 87.0 107.9 20.9 16.1 1.00
and 166.0 175.0 9.0 7.0 0.59
and 183.0 219.0 36.0 28.0 0.62
and 249.0 267.0 18.0 14.1 0.87
and 272.0 280.0 8.0 6.3 0.50
VB24-004 187236 8435699 171 267.6 -54.6 233.4 69.0 102.0 33.0 25.5 0.50
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VB24-005 187267 8435748 167 267.4 -57.8 290.5 13.0 22.0 9.0 6.8 0.46
and 44.0 49.0 5.0 3.8 0.78
and 83.0 88.0 5.0 3.8 0.49
and 110.0 144.0 34.0 26.1 0.54
and 170.0 209.0 39.0 30.3 0.90
and 264.0 276.0 12.0 9.5 0.93
VB24-006 187259 8435848 152 275.8 -55.3 212.0 51.0 88.0 37.0 29.6 0.44
and 93.0 102.0 9.0 7.2 0.44
and 110.0 113.0 3.0 2.4 0.72
and 118.0 127.0 9.0 7.2 0.86
and 132.0 145.0 13.0 10.4 0.53
and 192.0 195.0 3.0 2.5 0.78
VB24-007 187264 8435797 154 267.1 -54.9 220.7 76.0 101.0 25.0 20.1 0.49
and 106.0 121.0 15.0 12.2 0.47
and 136.0 145.0 9.0 7.4 0.55
and 153.0 162.0 9.0 7.4 0.48
VB24-008 187346 8435658 158 261.7 -55.0 422.4 141.0 145.0 4.0 3.1 0.92
and 217.0 221.2 4.2 3.4 0.87
and 255.0 277.0 22.0 17.8 0.44
and 282.0 294.0 12.0 9.9 1.13
and 299.0 305.0 6.0 5.0 0.72
and 311.0 381.0 70.0 58.8 0.76
including 363.6 381.0 17.4 14.6 1.51
and 391.0 394.0 3.0 0.8 0.81
and 400.0 410.0 10.0 0.5 0.45
VB24-009 187191 8435657 171 268.8 -57.2 210.3 7.0 25.0 18.0 13.6 0.86
and 30.0 42.0 12.0 8.9 0.41
and 47.0 115.0 68.0 50.5 0.63
and 126.0 131.6 5.6 4.2 0.84
and 136.0 150.0 14.0 10.5 0.41
and 164.0 168.1 4.1 3.1 0.78
VB24-010 187139 8435544 162 274.1 -55.1 144.8 0.5 9.0 8.5 6.8 0.64
and 55.0 67.0 12.0 9.6 0.83
and 92.1 124.0 31.9 25.7 0.41
and 129.0 134.0 5.0 4.0 0.66
VB24-011 187190 8435750 178 269.0 -53.0 105.4 2.0 9.0 7.0 5.6 0.61
and 14.0 21.0 7.0 5.7 0.81
and 27.0 42.0 15.0 12.2 0.43
and 68.0 72.0 4.0 3.2 0.69
and 76.0 79.0 3.0 2.4 0.74
and 81.0 85.0 4.0 3.3 0.73
*Sample Type - HQ 1/2 Core