Vista re-evaluating sulphides at Hycroft

With production at its Hycroft mine coming only from stockpiled ore on the leach pads, Vista Gold (VGZ-T) is examining sulphide mineralization on the property in the hope that new zones could prove economic if gold prices turn up.

Vista has completed metallurgical testing on low-grade sulphide mineralization underlying the Crofoot and Brimstone oxide gold deposits, neither of which is currently being mined. Preliminary work showed that a flotation concentrate could be produced, which grades of around 13 grams gold per tonne. Further drilling and sampling are planned, though funding has yet to be arranged.

Re-logging and re-interpretation of older drill data outlined some previously unevaluated gold and silver mineralization below the Albert and Brimstone deposits. Holes drilled from 1992 to 1996 showed mineralized lengths in the 30-to-200-metre range, with gold grades of around 1 gram per tonne and silver grades in the neighbourhood of 30-80 grams.

To maintain the leaching operation, Vista has sold much of its mining equipment, and it is looking for additional financing. It lost US$615,000 in the second quarter, when it took in revenue of US$272,000. For the year, the company is showing a US$1.1-million loss on revenue of US$623,000.