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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 January 23, 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: January 27, 1997 By: /s/ KARLA J. KIMREY
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Karla J. Kimrey
Director of Investor Relations
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EXHIBIT INDEX
Exhibit Description of Exhibit
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99.1 Press release dated January 23, 1997, stating that the
Company announced the assay results from the first phase
of core drilling at the Amayapampa mine in Bolivia, as
well as announcing the execution of an agreement with
Atlas Corporation to terminate the joint venture on the
Gold Bar claim near Eureka, Nevada.
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EXHIBIT 99.1
VISTA GOLD ANNOUNCES DRILLING RESULTS FROM BOLIVIA
DENVER, COLORADO, JANUARY 23, 1997 - Vista Gold Corp. is pleased to announce
the assay results from the first phase of core drilling at the Amayapampa mine
in Bolivia. In November 1996, Vista acquired the Amayapampa mine and a
neighboring mine, Capa Circa, as a result of the merger between Granges Inc.
and Da Capo Resources. Vista owns 100 percent of the properties located
approximately 185 miles (300 kilometers) southeast of La Paz.
Currently the Company has four drill rigs working at Amayapampa. The drilling
is designed to reclassify ore in the current pit design to the proven and
probable category; expand the known mineralization; provide geotechnical data
for pit design; and condemn land for waste dumps, tailings, and plant
facilities.
Initial drill results are confirming the expected mineralization and indicating
areas of possible extension of mineralization. Results from eight holes
completed have been received and are summarized below. A total of 1,175 meters
are completed of the 5,000 meter program.
<TABLE>
<CAPTION>
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DDH# FROM TO WIDTH GOLD GRADE TOTAL
(METERS) (METERS) (METERS) G/TONNE (METERS)
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<S> <C> <C> <C> <C> <C>
DD96AP76 Hole Abandoned 12.00
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DD96AP77 50.42 84.95 34.53 1.12 120.35
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incl. 50.42 60.55 10.13 2.34
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DD96AP78* 24.90 43.00 18.10 1.29 43.00
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incl. 29.40 43.00 13.60 1.48
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DD96AP79 No Significant Results 252.00
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incl.
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DD96AP80 No Significant Results 159.45
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incl.
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DD96AP81* 0 30.05 30.05 0.69 30.05
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incl. 25.12 30.05 4.93 2.72
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DD96AP83 94.50 260.50 166.00 0.42 308.25
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incl. 200.80 223.70 22.90 1.21
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DD96AP84 61.00 91.40 30.40 0.95 250.46
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incl. 62.75 76.90 14.15 1.61
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</TABLE>
*stopped in mineralization
The final feasibility study for the Amayapampa mine is underway, and
engineering contractors and consultants have been retained to conduct all major
elements of the study. At Capa Circa, the limited mine production has been
halted, as intended, and plans are being made to rehabilitate unsafe portions
of the underground workings prior to commencement of exploration activities.
Exploration will include mapping, drilling, sampling, and new underground
development.
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Additionally, the Company announced that it has signed an agreement with Atlas
Corporation to terminate the joint venture on the Gold Bar claim near Eureka,
Nevada. The initial joint venture agreement, signed October 5, 1995, entitled
Vista Gold to terminate the joint venture within a two-year period. Atlas
Corporation, at the time of the joint venture agreement, held approximately 27
percent of the Company's outstanding common shares. Currently, Atlas holds
approximately 9 percent of the common shares of Vista Gold.
An initial discovery was made by Vista on the property but subsequent
evaluation indicated that this mineralization would not meet our investment
criteria. "With the recent merger between Granges Inc. and Da Capo Resources,
we feel our energies are better directed at properties in which we own a 100
percent interest," said Michael B. Richings, President and CEO of Vista Gold
Corp. "Vista will focus its resources and efforts on our opportunities in
Venezuela and Bolivia, including the development of the Amayapampa and Capa
Circa mines."
Vista Gold 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 America and South America
including Ecuador, Bolivia, Venezuela, and Peru.
