<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the period of July 30, 1997 Commission File Number: 1-9025
VISTA GOLD CORP.
(Name of Registrant)
Suite 3000
370 Seventeenth Street
Denver, Colorado 80202
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
----- -----
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the SEC
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
----- -----
If "Yes" is marked, indicate the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not applicable.
<PAGE> 2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VISTA GOLD CORP.
Date: July 30, 1997 By: /s/ KARLA J. KIMREY
------------------------------
Karla J. Kimrey
Director of Investor Relations
<PAGE> 3
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description of Exhibit
- ------- ----------------------
<S> <C>
99.1 Press release dated July 30, 1997, stating that the Company
announced the results of the remaining 26 holes drilled as part of a
first phase 45-hole program on the Guariche project in Bolivar State,
Venezuela.
</TABLE>
<PAGE> 1
EXHIBIT 99.1
ADDITIONAL DRILL RESULTS ON VENEZUELAN PROJECT
CONTINUE TO EXCEED EXPECTATIONS
DENVER, COLORADO, JULY 30, 1997 -- Vista Gold is pleased to announce the
results of the remaining 26 holes drilled as part of a first phase 45-hole
program on the Guariche project in Bolivar State, Venezuela. The new results
continue to show strong grades and good widths of mineralization on the first
target zones to be evaluated on this prospect.
GUARICHE PROJECT - VENEZUELA
<TABLE>
<CAPTION>
Hole Number From (m) To (m) Width (m) Grade g/t
<S> <C> <C> <C> <C>
40 116 129 13 1.59
41 15 22 7 3.78
42 0 8 8 2.10
43 0 20 20 1.31
44 61 126 65 2.88
45 22 52 30 1.89
46 0 47 47 4.43
47 36 65 29 1.00
50 0 33 33 3.28
51 4.5 20 15.5 2.34
52 9 43 34 2.42
53 0 9 9 1.93
54 0 1.5 1.5 2.82
and 63 64 1 16.22
55 0 65 65 3.08
56 No Significant Assays
57 No Significant Assays
58 0 78 78 .84
inc. 3 19.5 16.5 1.10
inc. 58 78 20 1.63
59 0 33 33 2.09
60 0 21 21 4.72
61 No Significant Assays
62 No Significant Assays
63 12 28 16 1.35
64 0 16.5 16.5 2.67
65 0 16.5 16.5 2.53
</TABLE>
<PAGE> 2
Vista is currently evaluating this data, together with all previous information
gathered on the property, to locate drill holes for the second phase program.
The second phase of drilling will resume in September after the current
evaluation and the IP survey planned for August is completed. The next phase
of drilling will focus on extensions to the existing five zones plus two new
significant adjacent targets.
"The program, to date, is very encouraging and we are well on the way to
achieving our objective of confirming 500,000 ounces of proven and probable
mineable reserves. In addition, the continuity and strength of gold
mineralization give support to our goal of establishing at least a one million
ounce deposit," said Mike Richings, President and CEO of Vista Gold Corp.
Vista entered into an option agreement, in June 1996, to acquire the property
for cash and stock at a price equivalent to $30 per ounce on proven and
probable reserves from L.B. Mining Co. In April 1997, after L.B. Mining Co.
had received the necessary approvals from Venezuelan authorities, Vista
commenced drilling. Preliminary engineering analysis carried out by Vista
indicates the deposit could be developed for a $40 million capital investment
with anticipated production of 75,000 to 100,000 ounces of gold per year at an
estimated cash cost of approximately $180 per ounce.
The Company is pleased with the drill results from the Guariche project in
Venezuela. This project is an integral part of the Company's growth strategy
to become a mid-tier gold producer by the year 2000. In addition to the
favorable drill results from Guariche, the Company has recently announced the
positive results of a bankable feasibility study on the Amayapampa project in
Bolivia with the expectation of construction beginning early in 1998. Also,
the Hycroft mine in Nevada produced a record 60,539 ounces of gold for the
first six months of 1997 at a direct cash cost of $240 per ounce. "We are
successfully executing our business plan to significantly add production and
reduce production costs," said Richings.
Vista Gold Corp. is an international gold mining, development and exploration
company based in Denver, Colorado. Its holdings range from the Hycroft mine in
Nevada to development and exploration projects in North and South America.
---
The statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties that could cause actual
results to vary materially from the targeted results. Such risks and
uncertainties include those described in the Company's 20-F as amended.
For further information, please contact Karla J. Kimrey, Director of Investor
Relations, or Michael B. Richings, President and CEO at (303) 629-2450 or (888)
629-2450.
