Highvista Gold Inc.
TSX VENTURE : HVV

Highvista Gold Inc.

April 02, 2012 09:00 ET

Highvista Gold Inc. Identifies Large Gold/Silver/Copper Target on Chanate Fault

TORONTO, ONTARIO--(Marketwire - April 2, 2012) -

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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
Gold Silver Copper
Sample Channel Grade Grade Grade
Number Width (m) (g/t) (g/t) (%) Location
HV-4273 1.0 1.02 612.0 1.94 Surface
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
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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Contact Information

  • Highvista Gold Inc.
    Richard Adams
    President and CEO
    (416) 504-3588
    (416) 504-4129 (FAX)
    www.highvistagold.com