Vista Gold Corp. (TSX: T.VGZ, Stock Forum) said the Batman deposit, at the company's Mt. Todd gold project in Australia, is now estimated to contain 7.4 million ounces of gold in the measured and indicated categories and 1.73 million ounces in the inferred category.
The updated mineral resource estimate includes the final 14 drill holes from the company's resource conversion drilling program at the Mt. Todd gold project.
According to the Vista Gold press release, this resource estimate will be the basis for the company's planned feasibility study, to be completed later this year.
Highlights of the updated mineral resource estimate include a 5% increase in contained gold ounces in the measured and indicated categories compared to the previous resource estimate.
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 Monday, Vista Gold was up 0.88% and was trading at $2.29 a share. The company had a market cap of $186 million, based on 81.6 million shares outstanding. The 52-week high and low was $3.99 and $1.70 respectively.