Calvista Gold Corporation
TSX : CVZ
OTCQX : CAGOF

Calvista Gold Corporation

September 11, 2012 11:10 ET

Calvista Discovers New Mineralized Zones

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2012) -

Editors Note: There is a map associated with this press release.

Calvista Gold Corporation (TSX:CVZ)(OTCQX:CAGOF) ("Calvista" or the "Company") is pleased to announce that its recent soil sampling program has identified two new mineralized zones at the Company's Callejón Blanco prospect within its wholly-owned California Valley Project ("the Project").

The Company's Chief Executive Officer, Mr. Mark Haywood, stated that "the exciting discovery of two new mineralized zones parallel to our previously discovered zones on the La Mascota ore zone represent major exploration targets for Calvista. Further exploration under our upcoming Phase III diamond drilling program will have the potential to significantly increase our mineral resources at the Callejón Blanco prospect."

Under the Company's soil sampling campaign, all Calvista's licenses were sampled on a 100 x 50 metre GPS grid using the company's codified card system.

A total of 351 samples were taken from the upper part of the B Horizon and assayed using Enzyme leach technology by Activation laboratories in Canada.

Figure 1 highlights the two new interpreted mineralized zones at the Callejón Blanco prospect.

Table 1 in Appendix A also shows selected results from the Company's soil sampling campaign.

Additional magnetic susceptibility and temperature surveys were completed and integrated into the interpretation of the targets. Geochemical results were processed using Compositional Data Analysis and other statistical methods such as Factor Analysis and Correlation Studies.

As the result of these studies, new target zones were identified and drilling targets were selected for Calvista's Phase III drilling campaign.

To view "Figure 1. New Interpreted Mineralized Zones", please visit the following link: http://www.marketwire.com/library/20120911-CallejonBlanco800.jpg.

Quality Assurance

Calvista has developed and implemented Quality Assurance/Quality Control protocols that exceeds current industry best practices. Calvista's exploration protocol includes the insertion of blanks, duplicates, standards and external controls on all their samples. Samples with assay results greater than 10 g/t Au are re -assayed by metallic screen analysis. Sample preparation is conducted by the ALS Group ("ALS") in Bucaramanga, Colombia before being analyzed at the ALS certified assay laboratory in Lima, Peru.

Technical Information

Mr. Ricardo Valls, P. Geo., Calvista's VP Exploration, is the Company's designated Qualified Person for this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and validated that the technical information contained in the release is accurate.

About Calvista

Calvista is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. All our prospects in the California Valley are located below 3,200 metres and are not affected by the Paramo ecosystem law. With a head office in Toronto and Colombian headquarters in Bucaramanga, Calvista is led by a management team with over 50 years of exploration and mining experience, principally in South and Central America. For further details on Calvista, please refer to our web site (www.calvistagold.com) and Calvista's Canadian regulatory filings on SEDAR at www.sedar.com.

CAUTIONARY STATEMENT: This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Calvista's objectives, goals or future plans, statements regarding exploration results, exploration plans and the timing of a potential resource estimate. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent to preparing a resource estimate within expected timeline, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in a jurisdiction such as Colombia, and those risks set out in Calvista's public documents filed on SEDAR. Although Calvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Calvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

APPENDIX A - SOIL SAMPLING CAMPAIGN - SELECTED SOIL SAMPLE RESULTS

UTM E UTM N Elevation Au Ag Cu Sample
730945 815223 2460 13.3 0.1 328 M00552
731456 815306 2712 8.83 0.1 82 M00587
726729 810815 2455 7.02 20.8 756 M00475
729513 814717 2455 6.52 12.6 405 M00620
731347 815579 2650 6.43 2.8 869 M00576
731743 815233 2658 6.03 3.4 1210 M00625
731498 815574 2659 5.57 0.1 64 M00577
730950 815183 2494 5.47 8.5 283 M00553
727913 811922 2472 5.24 5.8 943 M00525
731695 815151 2756 4.98 7.1 31 M00624
726512 812061 2061 4.73 2.2 841 M00825
731567 815373 2121 2.67 0.1 1620 M00569
731577 815363 2730 2.47 1.4 565 M00570
731640 815240 2675 2.28 0.2 54 M00629
726995 812320 2026 2.19 0.09 160 M00848
731657 815271 2753 1.42 0.6 155 M00628
729406 814674 2418 1.4 0.1 32 M00707
729329 815120 2451 1.39 0.1 113 M00709
727304 812220 2218 1.31 0.5 253 M00541
731144 815581 2583 1.24 1.6 728 M00639
731743 815233 2817 1.19 5.3 179 M00626
729387 815131 2510 1.14 0.1 129 M00648
729790 814754 2389 1.14 0.1 279 M00714
731542 815531 2757 1.09 0.1 60 M00573
731358 815419 2662 1.07 0.6 87 M00598
727296 812269 2190 1.04 0.2 147 M00542
727296 812269 2190 1.02 0.3 165 M00543

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Calvista Gold Corporation
    Ruben Shiffman
    Executive Chairman
    +1 416 504 4199

    Calvista Gold Corporation
    Mark Haywood
    President & CEO
    +1 416 504 4199

    Calvista Gold Corporation
    Donald Christie
    CFO and Corporate Secretary
    +1 416 504 4199

    Calvista Gold Corporation
    Gary Anstey
    Investor Relations/Business Development
    +1 416 504 4199

    Calvista Gold Corporation
    Corporate office
    Suite 1500, 4 King West, Toronto, Ontario, Canada M5H 1B6
    +1 416 504 4199
    info@calvistagold.com
    www.calvistagold.com