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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 March 19, 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
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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
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If "Yes" is marked, indicate the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not applicable.
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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: March 20, 1997 By: /s/ KARLA J. KIMREY
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Karla J. Kimrey
Director of Investor Relations
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EXHIBIT INDEX
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Exhibit Description of Exhibit
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99.1 Press release dated March 19, 1997, stating that the Company
has received the necessary approvals to commence drilling at
the Guariche Project in Venezuela, as well as announcing that
a seven hole drill program is in process at the Iroco Project
in Bolivia.
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EXHIBIT 99.1
VISTA RECEIVES DRILLING APPROVAL
FOR GUARICHE PROJECT IN VENEZUELA
DENVER, COLORADO, MARCH 19, 1997 -- The Company is pleased to announce that it
has received the necessary approvals to commence drilling on the Triunfo Number
1 concession at the Guariche Project in Venezuela. Vista's geologists have
estimated a minimum geologic resource of 9.3 million tons (8.4 million tonnes)
at 0.06 ounces per ton (2.1 g/t) of gold. The drilling program which is
authorized as part of a baseline study, is designed to confirm a proven and
probable mineable reserve of a minimum of 570,000 ounces.
In 1996, the Company acquired an option to purchase the Guariche gold property
from L.B. Mining Company. At the time, the Company completed preliminary
studies which demonstrated a technically and economically feasible mining
operation with estimated production of 70,000 to 100,000 ounces of gold per
year at an estimated cash cost of $180 per ounce and an estimated total capital
cost of approximately $40 million.
Drilling equipment is currently being mobilized to the Guariche property and
drilling should commence in the next two weeks. Initial drill results are
expected within four to six weeks. Concurrently, the Company will be
generating the necessary environmental impact statement on the property for
submission to Venezuela's Minister of the Environment.
The Guariche Project plays an integral part in the growth of Vista to a
mid-tier gold producer. The Company projects a growth in mineable gold
reserves from 1.4 million ounces at year end 1996 to approximately 3.0 million
by the year 2000. Vista's long-term plan calls for production at Guariche to
commence in the second half of 1999.
On another of the Company's projects, a seven hole drill program is in process
at the Iroco project in Bolivia; a 50:50 joint venture with Altoro Resources.
The project is approximately 3 miles (5 km) from Oruro, one of Bolivia's larger
cities. The first assays were received on the project last week. Drill hole
DD97IR34 shows a wide intercept of mineralized sediments. The drill hole
assayed 0.03 ounces per ton (1.1 g/t) of gold over 186 feet (56.76 m) core
length, from 484 feet to 670 feet (147.39 m to 204.15 m). Included in this
same interval was a 56 foot (17.1 m) wide section grading 0.08 ounces per ton
(2.58 g/t) of gold. Mineralization on the Iroco property is an attractive
exploration target and is similar to that seen at Vista's Amayapampa project.
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Vista Gold Corp. is an international gold mining, development and exploration
company based in Denver, Colorado, with its registered office in Vancouver,
British Columbia. Its holdings range from the Hycroft Mine in Nevada to
development and exploration projects in North and South America including
Ecuador, Bolivia, Venezuela and Peru.
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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 Form 10K as amended.
For Further information, please contact Karla J. Kimrey, Director of Investor
Relations, or Michael B. Richings, President and CEO of Vista Gold Corp. at
(303) 629-2450.
