Highvista Gold Inc. Commences Phase 3 Drilling at Its Republicana Gold/Silver Discovery in Sonora State, Mexico
February 14 2013 - 8:30AM
Marketwired Canada
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Highvista Gold Inc. ("Highvista" or the "Company") (TSX VENTURE:HVV) is pleased
to report that it has commenced its third drill program ("Phase 3") at its
Republicana gold/silver discovery on the Company's 100% owned Canasta Dorada
Project located in the Sonoran Gold Belt, in Sonora State, Mexico.
Republicana Gold/Silver Discovery
The Republicana discovery, located approximately 40 km south east of Fresnillo's
Noche Buena Mine and 30 kilometres north west of Aurico Gold's El Chanate Mine,
was initially identified through a surface mapping and sampling program
conducted during 2011. Anomalous gold and silver was identified over a surface
area measuring approximately 2,000 metres by 1,000 metres.
In two previous campaigns, Highvista drilled twelve reverse circulation drill
holes totaling 1,256 metres at Republicana. Significant assay results from the
first two drill programs are presented in Table 1.
Table 1: Significant Drill Intercepts at the Republicana Discovery, as
previously released on February 15, 2012 and August 22, 2012
----------------------------------------------------------------------------
Gold Silver Gold
Hole From To Interval Grade Grade Equivalent
Number (metres) (metres) (metres) (g/t) (g/t) Grade (g/t) Comments
----------------------------------------------------------------------------
CD-11-71 0.0 1.0 1.0 0.56 1.9 0.598
----------------------------------------------------------------------------
28.0 64.0 36.0 0.21 2.1 0.252
----------------------------------------------------------------------------
Including 42.0 53.0 11.0 0.54 5.6 0.652
----------------------------------------------------------------------------
CD-11-74 19.0 40.0 21.0 0.39 1.2 0.414
----------------------------------------------------------------------------
Including 30.0 40.0 10.0 0.78 2.5 0.830
----------------------------------------------------------------------------
CD-12-79 22.6 45.5 22.9 0.363 2.1 0.404
----------------------------------------------------------------------------
63.8 76.0 12.2 0.272 3.2 0.335
----------------------------------------------------------------------------
CD-12-80 0.0 71.4 71.4 0.249 3.1 0.311
----------------------------------------------------------------------------
Including 8.9 62.3 53.4 0.313 4.0 0.393
----------------------------------------------------------------------------
CD-12-81 2.8 104.9 102.1 0.216 2.3 0.261 Hole ended in
mineralization
----------------------------------------------------------------------------
Including 57.7 104.9 47.2 0.380 3.8 0.457
----------------------------------------------------------------------------
CD-12-82 48.5 50.1 1.6 0.428 less 0.428 Hole ended in
than mineralization
0.2
----------------------------------------------------------------------------
Note: Intervals shown are hole length (true width of mineralization is
unknown at present). Silver/Gold ratio of 50:1 used for gold equivalent
grade (metallurgical recoveries are assumed to be 100%).
Mineralization at Republicana consists of a quartz stockwork zone within a
rhyolite/metarhyolite. Drilling and rock chip sampling to date indicates that
the mineralized structure is approximately 1,000 metres long (southeast to
northwest), 300 to 400 metres wide (northeast to southwest), with thickness
ranging from 20 metres to 100 metres. The mineralized structure dips gently to
the southwest (30 to 40 degrees), outcrops to the northeast and remains open to
the northwest, southeast and down-dip.
"The mineralization, footprint and gold grades at Republicana are very similar
to Fresnillo's producing Noche Buena Mine," said Rick Adams, President and CEO
of Highvista. "Republicana represents a shallow, attractively sized target for a
bulk-tonnage gold deposit. This Phase 3 drill program, if successful, should
enable us to establish a maiden gold resource at Republicana, with which we
could continue to expand."
Phase 3 drilling will consist of up to 20 reverse circulation drill holes
totaling approximately 2,000 meters. Results are expected to be released early
in the second quarter of 2013.
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.
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 programs. In addition, information concerning the interpretation of drill
results and rock chip sampling results may also be considered forward-looking
statements as such information constitutes a prediction of what mineralization
might be found to be present if and when a project is actually developed. 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 ability of the Corporation to
fund proposed drill programs and the uncertainties relating to the
interpretation of the exploration results, including drill results and rock chip
sampling results, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Highvista Gold Inc.
Richard Adams
President and CEO
(416) 682-2674
(416) 504-4129 (FAX)
www.highvistagold.com
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