Highvista Gold Inc.

TSX VENTURE : HVV


Highvista Gold Inc.

February 14, 2013 09:30 ET

Highvista Gold Inc. Commences Phase 3 Drilling at Its Republicana Gold/Silver Discovery in Sonora State, Mexico

TORONTO, ONTARIO--(Marketwire - Feb. 14, 2013) -

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Highvista Gold Inc. ("Highvista" or the "Company") (TSX VENTURE:HVV) is pleased to report that it has commenced its third drill program ("Phase 3") at its Republicana gold/silver discovery on the Company's 100% owned Canasta Dorada Project located in the Sonoran Gold Belt, in Sonora State, Mexico.

Republicana Gold/Silver Discovery

The Republicana discovery, located approximately 40 km south east of Fresnillo's Noche Buena Mine and 30 kilometres north west of Aurico Gold's El Chanate Mine, was initially identified through a surface mapping and sampling program conducted during 2011. Anomalous gold and silver was identified over a surface area measuring approximately 2,000 metres by 1,000 metres.

In two previous campaigns, Highvista drilled twelve reverse circulation drill holes totaling 1,256 metres at Republicana. Significant assay results from the first two drill programs are presented in Table 1.

Table 1: Significant Drill Intercepts at the Republicana Discovery, as previously released on February 15, 2012 and August 22, 2012
Hole
Number
From
(metres)
To
(metres)
Interval(metres) Gold
Grade
(g/t)
Silver
Grade
(g/t)
Gold
Equivalent
Grade (g/t)
Comments
CD-11-71 0.0 1.0 1.0 0.56 1.9 0.598
28.0 64.0 36.0 0.21 2.1 0.252
Including 42.0 53.0 11.0 0.54 5.6 0.652
CD-11-74 19.0 40.0 21.0 0.39 1.2 0.414
Including 30.0 40.0 10.0 0.78 2.5 0.830
CD-12-79 22.6 45.5 22.9 0.363 2.1 0.404
63.8 76.0 12.2 0.272 3.2 0.335
CD-12-80 0.0 71.4 71.4 0.249 3.1 0.311
Including 8.9 62.3 53.4 0.313 4.0 0.393
CD-12-81 2.8 104.9 102.1 0.216 2.3 0.261 Hole ended in
mineralization
Including 57.7 104.9 47.2 0.380 3.8 0.457
CD-12-82 48.5 50.1 1.6 0.428 <0.2 0.428 Hole ended in
mineralization
Note: Intervals shown are hole length (true width of mineralization is unknown at present). Silver/Gold ratio of 50:1 used for gold equivalent grade (metallurgical recoveries are assumed to be 100%).

Mineralization at Republicana consists of a quartz stockwork zone within a rhyolite/metarhyolite. Drilling and rock chip sampling to date indicates that the mineralized structure is approximately 1,000 metres long (southeast to northwest), 300 to 400 metres wide (northeast to southwest), with thickness ranging from 20 metres to 100 metres. The mineralized structure dips gently to the southwest (30 to 40 degrees), outcrops to the northeast and remains open to the northwest, southeast and down-dip.

"The mineralization, footprint and gold grades at Republicana are very similar to Fresnillo's producing Noche Buena Mine," said Rick Adams, President and CEO of Highvista. "Republicana represents a shallow, attractively sized target for a bulk-tonnage gold deposit. This Phase 3 drill program, if successful, should enable us to establish a maiden gold resource at Republicana, with which we could continue to expand."

Phase 3 drilling will consist of up to 20 reverse circulation drill holes totaling approximately 2,000 meters. Results are expected to be released early in the second quarter of 2013.

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.

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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Contact Information

  • Highvista Gold Inc.
    Richard Adams
    President and CEO
    (416) 682-2674
    (416) 504-4129 (FAX)
    www.highvistagold.com