Highvista Gold Inc.
TSX VENTURE : HVV

Highvista Gold Inc.

February 15, 2012 09:00 ET

Highvista Gold Inc. Identifies Several High Grade Gold/Silver Zones at the La Republicana Target on Its Canasta Dorada Gold Project

TORONTO, ONTARIO--(Marketwire - Feb. 15, 2012) -

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Highvista Gold Inc. ("Highvista" or the "Company") (TSX VENTURE:HVV) is pleased to report that it has identified several zones of high grade gold and silver mineralization at the La Republicana target on its 100% owned Canasta Dorada Gold Project, located within the Sonoran Gold Belt, in Sonora State, Mexico.

The La Republicana target was identified through a surface mapping and sampling program conducted during 2011. Anomalous gold and silver has been identified over a surface area measuring approximately 2,000 metres by 1,000 metres. As reported in its January 12, 2012 press release, the mineralized structure at the La Republicana target was intersected in two reverse circulation drill holes located approximately 650 metres apart. As a follow-up to this drill program, Highvista completed an extensive rock chip sampling program within the La Republicana target area. A total of 106 samples (558 kilograms) were collected from surface outcrops and from historic underground workings. Several zones of high grade gold and silver were identified (refer to Table 1).

Table 1: Significant Rock Chip Samples at the La Republicana Target
Sample Number Mass
(kg)
Sample
Width
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Gold
Equivalent
Grade
(g/t)
Location
HV-3879 4.4 2.0 15.75 138.0 18.51 Underground
HV-3869 4.1 1.3 14.60 96.1 16.52 Surface
HV-3868 4.4 1.2 9.44 56.2 10.56 Surface
HV-3966 4.3 2.0 6.78 64.8 8.08 Surface
HV-3900 4.6 1.2 6.53 34.6 7.22 Underground
HV-3901 5.6 1.1 5.55 26.7 6.08 Underground
HV-3968 5.7 2.4 5.10 33.9 5.78 Surface
HV-3969 4.0 2.0 4.93 6.4 5.06 Surface
HV-3876 5.1 2.0 3.40 55.5 4.51 Underground
HV-3895 7.0 2.0 3.60 35.5 4.31 Underground
HV-3892 6.0 1.6 3.08 26.1 3.60 Underground
HV-3878 4.6 2.0 2.68 38.5 3.45 Underground
HV-3959 6.0 0.5 1.68 84.2 3.36 Underground
HV-3962 4.3 1.1 0.96 78.6 2.53 Underground
HV-3891 6.0 0.7 2.13 19.7 2.52 Underground
Note: Silver/Gold ratio of 50:1 used for gold equivalent grade (metallurgical recoveries are assumed to be 100%).

Mineralization at La Republicana consists of a quartz stockwork zone within a metarhyolite. The mineralized structure is believed to extend to the surface, both to the north and east, of drill hole CD-11-71. Drill hole CD-11-74, sited approximately 650 metres to the northwest of drill hole CD-11-71, intersected what is believed to be the same mineralized structure. Of significant note, rock chip sample HV-2680 (mass of 3.3 kg, sample width of 0.1 m), collected from an outcrop located approximately 40 metres to the north of drill hole CD-11-74, is the highest grade rock chip sample collected to date at the Canasta Dorada Project. This sample assayed 220 g/t gold and 525 g/t silver, and is believed to be the same mineralized structure as was intersected in drill hole CD-11-74.

Highvista intends to complete a Phase 2 drill program at La Republicana early in the second quarter of 2012 to drill test the high grade mineralized zones, to infill between existing drill holes, and to test for extensions of the mineralized structure.

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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Contact Information

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