Highvista Gold Inc. (“Highvista” or the “Company“) (TSX VENTURE:HVV) is pleased to report that it has commenced its 2012 drill program at its Canasta Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State, Mexico. This phase of drilling will include up to thirty-two reverse circulation drill holes totaling 4,500 meters.
To date, Highvista has identified five priority drill targets at the Canasta Dorada Gold Project; Big Pit, Republicana, Las Quintas, Chanate North and Caballo Pinto. This 2012 drill program will expand upon the drill program the Company completed in late 2011 on the Big Pit, Republicana and Las Quintas targets, and will drill test the two new priority targets located along the Chanate Fault extension – the Chanate North and Caballo Pinto targets. This drill program is expected to be completed early in the third quarter of 2012, with results released throughout the third quarter of 2012.
“We are excited to be drilling again at Canasta Dorada.” said Rick Adams, President and CEO of Highvista. “We are fully funded to complete this drill program and are looking forward to expanding upon the previously drilled areas and drill testing the Chanate North and Caballo Pinto target areas. These new targets are large and located along the same structural trend as the neighbouring El Chanate Mine. Moreover, the mineralization and host rock are similar to that found at Chanate.”
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.
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.
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. 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 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, availability of equipment and skilled labour, operation of equipment in accordance with expectations, 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.