Highvista Gold Inc. Reports on 2011 Drill Program at Its Canasta Dorada Gold Project
January 12 2012 - 7:00AM
Marketwired Canada
Highvista Gold Inc. ("Highvista" or the "Company") (TSX VENTURE:HVV) is pleased
to report on the results of its 2011 drill program at its 100% owned Canasta
Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State,
Mexico.
This phase of drilling included fourteen reverse circulation drill holes
totaling 2,055 meters. Drilling was focused on three priority targets; Big Pit,
La Republicana, and Las Quintas. Drilling commenced in early October and was
completed in late November.
"We are excited with the results from our 2011 drill program at Canasta Dorada."
said Rick Adams, President and CEO of Highvista. "We drilled three targets along
a 12 kilometre strike of the major, low-angle Carnero Fault and intersected gold
mineralization in all three targets. The grades of gold mineralization
intersected are typical of the active gold heap-leach operations in the Sonoran
Gold Belt. The information gained in this phase of drilling clearly shows that a
major mineralizing system was active in the area, which is typical of systems
elsewhere in the Sonoran Gold Belt that have generated large discoveries."
Big Pit Area
The Big Pit Area has been the subject of much of the prior exploration work
conducted by High Desert Gold Corp. ("High Desert"), the previous owner of the
Canasta Dorada Project. Prior to this current round of drilling, Highvista and
High Desert had drilled 52 drill holes, at approximately 50 metre centres, that
intersected the mineralized structure in the Big Pit Area. This drilling
indicated that the mineralized structure was approximately 1,000 metres long
(southwest to northeast), 250 metres wide (northwest to southeast), with
thickness ranging from 2 metres to 40 metres and averaging approximately 10.5
metres (the true width of the intersections has not yet been estimated). Average
drilled grade for the fifty two holes was approximately 0.52 g/t Au. The
mineralized structure dips to the southwest and outcrops to the northeast.
Two reverse circulation holes totaling 90 metres were completed during this
phase of drilling at the Big Pit Area. The drill holes were sited to test the
western and southern extensions of the mineralized structure. The first hole,
CD-11-76, was drilled approximately 40 metres west of the most westerly hole
previously drilled by Highvista. The second hole, CD-11-77, was drilled to test
the potential for a down-dip extension of the mineralized structure to the
south. Assay results for the two holes are presented in Table 1.
Table 1: Significant Drill Intercepts for the Big Pit Area
----------------------------------------------------------------------------
Interval Gold Grade Silver Grade
Hole Number From (metres) (metres) (grams/tonne) (grams/tonne)
----------------------------------------------------------------------------
CD-11-76 22.0 19.0 0.58 1.7
----------------------------------------------------------------------------
including 24.0 6.0 1.55 2.4
----------------------------------------------------------------------------
CD-11-77 1.0 10.0 0.68 1.2
----------------------------------------------------------------------------
including 3.0 7.0 0.96 1.5
----------------------------------------------------------------------------
Note: Intervals shown are hole length (true width of mineralization is
unknown at present).
Gold and silver mineralization at the Big Pit Area is hosted by a low-angle
structural zone that underlies the area and occurs at the contact between
siltstone/phyllites and overlying sandstone and intrusive rocks. "We are
delighted with the results from this round of drilling at the Big Pit Area."
notes Rick Adams, President and CEO of Highvista. "The mineralized structure
appears to remain open to the west, and gold and silver grades drilled to date
are typical of the active gold heap-leach operations in the Sonoran Gold Belt."
Highvista intends to complete a ground-based geophysical survey during the first
quarter of 2012 to test the potential for a southeastern extension of the Big
Pit mineralization. This will be followed by a step-out drill program during the
second quarter of 2012 to test further extensions of the mineralized structure
to the west and south.
La Republicana Target
The La Republicana target, located approximately 4 kilometres north-west of the
Big Pit, was identified through a surface mapping and sampling program conducted
during 2011. To date, anomalous gold and silver has been identified over a
surface area measuring approximately 2,000 metres by 1,000 metres.
Six reverse circulation holes totaling 766 metres were completed during this
first phase of drilling at La Republicana. The holes were drilled over a surface
area measuring approximately 700 metres by 700 metres. The deepest hole,
CD-11-71, was drilled to a depth of 157 metres. Significant assay results are
presented in Table 2.
Table 2: Significant Drill Intercepts for the La Republicana Target
----------------------------------------------------------------------------
Interval Gold Grade Silver Grade
Hole Number From (metres) (metres) (grams/tonne) (grams/tonne)
----------------------------------------------------------------------------
CD-11-71 0.0 1.0 0.56 1.9
----------------------------------------------------------------------------
28.0 36.0 0.21 2.1
----------------------------------------------------------------------------
including 42.0 11.0 0.54 5.6
----------------------------------------------------------------------------
CD-11-74 19.0 21.0 0.39 1.2
----------------------------------------------------------------------------
including 30.0 10.0 0.78 2.5
----------------------------------------------------------------------------
Note: Intervals shown are hole length (true width of mineralization is
unknown at present).
Gold and silver mineralization at La Republicana is associated with quartz
veinlets within a diorite/granodiorite intrusion. "We are pleased with the
initial drill results at La Republicana." said Rick Adams, President and CEO of
Highvista. "It appears as though we have discovered a second zone of gold
mineralization at Canasta Dorada. The host for the gold and silver
mineralization at La Republicana is a diorite intrusion, and we have identified
this intrusion in drill holes CD-11-71 and CD-11-74, which are spaced
approximately 650 metres apart. This represents an attractively sized target for
a low-grade, bulk-tonnage gold deposit." Highvista intends to continue surface
mapping and sampling the La Republicana target during the first quarter of 2012,
and to complete a Phase 2 drill program in the second quarter of 2012.
Las Quintas Target
The Las Quintas target, located approximately 6 kilometres south-east of the Big
Pit, lies atop a strong magnetic high zone measuring approximately 7 kilometres
in length by 3 kilometres in width, trending to the north-east. Surface mapping
and sampling to date has identified anomalous gold and silver over a 2,000 metre
by 1,500 metre area.
Six reverse circulation holes totaling 1,199 metres were completed during this
first phase of drilling at Las Quintas. The holes were drilled over a surface
area of approximately 1,000 metres by 1,000 metres. The deepest hole, CD-11-64,
was drilled to a depth of 230 metres. Assay results for the six holes are
presented in Table 3.
Table 3: Significant Drill Intercepts for the Las Quintas Target
----------------------------------------------------------------------------
Interval Gold Grade Silver Grade
Hole Number From (metres) (metres) (grams/tonne) (grams/tonne)
----------------------------------------------------------------------------
CD-11-64 43.0 1.0 0.18 3.2
----------------------------------------------------------------------------
CD-11-65 5.0 1.0 0.41 less than 0.2
----------------------------------------------------------------------------
25.0 1.0 0.10 0.3
----------------------------------------------------------------------------
79.0 1.0 0.11 0.2
----------------------------------------------------------------------------
92.0 2.0 0.20 0.3
----------------------------------------------------------------------------
CD-11-66 6.0 1.0 0.11 0.9
----------------------------------------------------------------------------
47.0 1.0 0.16 1.1
----------------------------------------------------------------------------
49.0 2.0 0.13 0.5
----------------------------------------------------------------------------
63.0 1.0 0.16 0.7
----------------------------------------------------------------------------
207.0 4.0 0.31 0.3
----------------------------------------------------------------------------
216.0 1.0 0.21 0.3
----------------------------------------------------------------------------
CD-11-67 62.0 5.0 0.96 0.3
----------------------------------------------------------------------------
82.0 1.0 0.13 4.9
----------------------------------------------------------------------------
123.0 1.0 0.11 less than 0.2
----------------------------------------------------------------------------
175.0 1.0 0.10 2.0
----------------------------------------------------------------------------
CD-11-68 52.0 5.0 0.36 4.3
----------------------------------------------------------------------------
CD-11-69 62.0 1.0 0.39 5.1
----------------------------------------------------------------------------
167.0 1.0 0.12 0.3
----------------------------------------------------------------------------
Note: Intervals shown are hole length (true width of mineralization is
unknown at present).
Gold and silver mineralization is hosted within a sequence of conglomerate rocks
characterized by the presence of epidote and disseminated magnetite. Preliminary
mineralogical examination by SGS Minerals Services of a sample collected near
the collar of drill hole CD-11-64 indicates that gold grains are interstitial to
iron oxides/hydroxides. Highvista management believes the Las Quintas target
exhibits many of the characteristics of a gold-magnetite skarn deposit. "We are
encouraged with the results at Las Quintas to date" notes Rick Adams. "All drill
holes intersected gold mineralization, and we have only tested one square
kilometer of a twenty-one square kilometer target." Highvista intends to
continue mapping and sampling the Las Quintas target and to complete a Phase 2
drill program in the second quarter of 2012.
Qualified Person
This press release was reviewed and prepared by Rick Adams, P. Eng., the
President, CEO and a Director of the Company, who is recognized as a Qualified
Person under the guidelines of National Instrument 43-101.
Quality Control - Sample Preparation, Analysis and Security
Details of quality assurance/quality control procedures for sample preparation,
analysis and security are reported in detail in the Canadian National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant
Technical Report filed on SEDAR (www.sedar.com) on September 27, 2011 for the
Canasta Dorada Property.
About Highvista
Highvista owns 100% of a Mexican subsidiary that controls the 24,215 hectare
Canasta Dorada Gold Project. This project is located in the Sonoran Gold Belt
immediately adjacent to AuRico Gold's El Chanate Mine.
Details of Highvista's Canasta Dorada Project can be viewed at the Company's
website at www.highvistagold.com.
READER ADVISORY
Statements in this press release may contain forward-looking information
including, but not limited to, statements with respect to the Company's proposed
drill program. Any statements that are contained in this press release that are
not statements of historical fact may be deemed to be forward looking
statements. The reader is cautioned that assumptions used in the preparation of
any forward-looking information may prove to be incorrect, including but not
limited to, the ability of the Corporation to raise sufficient capital to pay
the exploration and development costs on the properties, the availability of
skilled labour, availability of equipment, and future capital and operating
costs. Events or circumstances may cause actual results to differ materially
from those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the
Company. Factors that could cause actual results to differ materially from any
forward-looking information include, but are not limited to, the risks of
capital and operating costs varying significantly from estimates, delays in
obtaining or failures to obtain required governmental, environmental or other
project approvals, inflation, commodity price and exchange rate fluctuations,
the uncertainty of estimates and projections relating to production, health,
safety and environmental risks, delays in the development of projects,
uncertainties relating to the interpretation of the geology, unanticipated
operational or technical difficulties and other factors. The reader is cautioned
not to place undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially
from those anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.
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