Release date- 18092012 – TORONTO, ONTARIO – Highvista Gold Inc. (TSX VENTURE:HVV) is pleased to report on the results of its first drill program at the Alamo Muerto Target at its 100% owned Canasta Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State, Mexico.
‘We are very pleased with the results from our first drill program at the Alamo Muerto Target,’ said Rick Adams, President and CEO of Highvista. ‘This target is large and located along the same structural trend as the neighbouring El Chanate Mine, which is owned and operated by AuRico Gold Inc. Moreover, the mineralization and host rock are similar to that found at El Chanate. We have long believed that the El Chanate mineralization trended onto our concessions, and this new discovery appears to confirm this.’
Alamo Muerto Target
The Alamo Muerto target, located approximately 10 kilometres northwest of, and on trend with, AuRico Gold’s El Chanate Mine, was originally identified through a reconnaissance surface mapping and sampling program conducted during the third quarter of 2011. A comprehensive surface mapping and sampling program, conducted during the first quarter of 2012, confirmed and expanded upon the results from the initial program.
Anomalous gold, silver and copper has been identified over a surface area measuring approximately 1,600 metres by 1,100 metres. A total of 306 channel samples (1,167 kilograms) were collected from surface outcrops and from historic underground workings. Several high grade gold, silver and copper structures were identified within the target area.
This first phase of drilling at Alamo Muerto consisted of three reverse circulation drill holes totaling 376 meters. The holes were drilled over a surface area measuring approximately 100 metres by 100 metres. The deepest hole, CD-12-95, was drilled to a depth of 172 metres at a dip of minus 55 degrees (or 141 metres vertical depth).
All three holes intersected the same geological structure, considered by Management to be the extension of the Chanate Fault. The southernmost hole, CD-12-94, intersected anomalous gold/silver mineralization over a 60 metre interval (from 27 metres down the hole).
Mineralization at Alamo Muerto appears to be primarily hosted within a steeply-dipping, quartz-sericite altered sandstone containing fresh pyrite.
‘We are excited with the latest drill results at Alamo Muerto,’ said Rick Adams, President and CEO of Highvista. ‘We have drilled a 100 metre section of the Chanate Fault extension and have discovered gold/silver mineralization over relatively large intervals, where mineralization and host rock are similar to that found at the neighbouring El Chanate Mine. Our current land package encompasses more than 15 kilometres of this fault extension, most of which has never been drill tested.’
Subject to available funding, Highvista intends to complete a twenty hole (3,000 metre) Phase 2 drill program at Alamo Muerto in the fourth quarter of 2012.
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 program. Information concerning mineral resource estimates and the interpretation of exploration 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 unavailability of sufficient capital to pay for proposed exploration and development, 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.
President and CEO
Highvista Gold Inc.
Tel: (416) 504-3588
Fax: (416) 504-4129