Vista Gold Corp VGZ:CA announced the results of a new preliminary feasability study for the Batman Deposit at its Mt Todd Gold Project in Northern Territory, Australia. Highlights include increased estimated reserves up 103% from the previous preliminary feasibility study with an estimated 4.1 million ounces gold, and an average annual production of 240,000 ounces gold per year for 14 years.
President/COO Fred Earnest said, “We believe that this is an important and positive step forward in our development of the Mt. Todd gold project. Four months ago we demonstrated the technical and economic viability of this project with a preliminary feasibility study that was constrained by the project’s existing tailings storage capacity of 60 million tonnes. By utilizing the remaining capacity in the project’s existing tailings storage facility and deferring the capital for additional tailings storage capacity until later in the project’s life, we have been able to increase the size of the proposed process facility to a more economic level of 30,000 tonnes per day and increase the projected annual production to 250,000 ounces per year over the first five years of the project. Based on these positive results, we have now commenced a feasibility study for the Mt. Todd gold project that we expect to complete in the latter part of the 2011.”
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Manager, Investor Relations
by Ted Niles