Vista Gold Corp. (TSX: T.VGZ, Stock Forum) announces further drilling results from its ongoing resource conversion-drilling program at the Mt. Todd gold project in Australia.
The project, located in Northern Territory, has a current resource estimate of 7.01 million ounces of gold in the measured and indicated categories and 2.09 million ounces in the inferred category.
According to the Vista Gold press release, highlights of the most recent three drill hole results included over 149 metres grading1.32 grams per tonne gold, over 129 metres grading 1.49 grams per tonne gold and over 33 metres grading 1.54 grams per tonne gold.
The company plans to release an updated resource estimate at the end of the year that will incorporate the final results of the resource conversion-drilling program and serve as the basis for the feasibility study to be completed in early 2013.
Vista is focused on the development of the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer.
On Tuesday morning, Vista Gold was trading at $3.64 a share. The company has a market cap of $281 million, based on 77.2 million shares outstanding. The 52-week high and low was $4.24 and $2.32 respectively.