Highvista Gold Inc. Identifies Large Gold/Silver/Copper Target on Chanate Fault
02 Aprile 2012 - 3:00PM
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 identified a new large gold, silver and copper target at
its 100% owned Canasta Dorada Gold Project, located within the Sonoran Gold
Belt, in Sonora State, Mexico.
"We are excited with the discovery of this new drill target at Canasta Dorada."
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.
Moreover, the mineralization and host rock are similar to that found at Chanate.
We have long believed that the Chanate mineralization trended onto our
concessions, and this new discovery appears to confirm this. This is the most
attractive target we have identified at Canasta Dorada, and we intend to drill
this, on a priority basis, in the second quarter of 2012."
The new target area ("Caballo Pinto"), 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 Caballo
Pinto target area (refer to Table 1).
Table 1: Significant Rock Chip Samples at the Caballo Pinto Target
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Gold Silver Copper
Sample Channel Grade Grade Grade
Number Width (m) (g/t) (g/t) (%) Location
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HV-4273 1.0 1.02 612.0 1.94 Surface
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HV-3254 1.0 0.67 527.0 2.05 Surface
----------------------------------------------------------------------------
HV-4433 1.0 0.54 245.0 1.39 Surface
----------------------------------------------------------------------------
HV-3255 1.0 0.75 163.0 0.86 Surface
----------------------------------------------------------------------------
HV-3212 0.8 0.02 173.0 3.73 Surface
----------------------------------------------------------------------------
HV-4250 2.0 0.40 122.0 0.78 Surface
----------------------------------------------------------------------------
HV-3239 1.0 2.01 1.9 0.00 Surface
----------------------------------------------------------------------------
HV-4344 1.0 0.11 93.7 0.85 Surface
----------------------------------------------------------------------------
HV-4432 0.5 0.29 79.8 0.80 Surface
----------------------------------------------------------------------------
HV-2870 1.0 1.85 1.2 0.00 Surface
----------------------------------------------------------------------------
HV-4404 0.4 0.01 76.7 4.21 Surface
----------------------------------------------------------------------------
HV-4448 1.0 1.18 6.6 0.02 Surface
----------------------------------------------------------------------------
HV-4343 1.0 0.38 39.0 0.17 Surface
----------------------------------------------------------------------------
HV-4421 0.5 0.04 53.0 1.80 Surface
----------------------------------------------------------------------------
HV-4422 1.0 0.03 50.2 1.06 Surface
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HV-4424 3.0 0.01 49.6 0.92 Underground
----------------------------------------------------------------------------
HV-3203 1.0 0.21 31.5 1.45 Surface
----------------------------------------------------------------------------
HV-2867 0.3 1.14 0.8 0.00 Surface
----------------------------------------------------------------------------
HV-4255 0.3 0.02 42.0 1.19 Surface
----------------------------------------------------------------------------
Mineralization at Caballo Pinto appears to be primarily hosted within a
steeply-dipping, quartz-sericite altered sandstone.
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. Highvista intends on completing a drill program in the second
quarter of 2012 to expand upon the drill program it completed in 2011 on the Big
Pit, Republicana and Las Quintas targets, and to drill test the new priority
targets located along the Chanate Fault extension.
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
All samples were recorded and delivered to the ALS Chemex sample preparation lab
in Hermosillo, Sonora, Mexico by trusted Company personnel or ALS Chemex
employees. Pulps of each sample were prepared in Hermosillo and sent to ALS
Chemex, Vancouver, Canada, an ISO 9001-2000 certified full service laboratory.
Each pulp was analyzed using 30g fire assay for gold with AAS finish (ALS method
Au-AA23), and a nitric aqua regia digestion using conventional ICP-AES analysis
for an additional 35 elements, including silver (ALS method ME-ICP41). Over
limit samples for gold were subject to 30g fire assay with gravimetric finish
(ALS code Au-GRA21) and over limit samples for silver were subjected to an aqua
regia (HNO3-HCl) digestion using conventional ICP-AES analysis (ALS code
Ag-OG46).
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 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.
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