Vista Gold Corp. (NYSE American and TSX: VGZ) today announced the commencement of a feasibility study for its Mt Todd gold project. The study aims to increase the reserve grade to 1 gram gold per tonne and reduce the initial capex to $400 million while achieving average annual gold production ranging from 150,000 to 200,000 ounces from 5.2 million tonnes per annum (“Mtpa”) ore throughput. Completion of this feasibility study is expected in mid-2025.
Frederick H. Earnest, President and CEO of Vista, stated, “After carefully evaluating the potential benefits, we have decided to design a project with a 15,000 tonne per day throughput rate, nominally 5.2 Mtpa. We are targeting a reduction of approximately 60% in initial capital costs from the large-scale project feasibility study published earlier this year, and a significant increase in reserve grade to 1 gram gold per tonne with a higher ore cut-off grade. The project design will retain the optionality for future expansion.
“We have selected consultants with extensive Australian and international experience with projects of this scale who can deliver a fit-for-purpose design that achieves the targets we have established. This is a paradigm shift and we believe this will enable us to reach our objective of raising Mt Todd to the top tier of near-term gold development opportunities.”
GR Engineering Services (“GRES”) has been engaged to complete the process area designs, capital and operating cost estimates, project economic analysis, and to author this feasibility study. GRES is an Australia-based process engineering, design, and construction company with significant experience in the mining and mineral processing sector. Additionally, Mining Plus, an Australian-founded global mining advisor and technical consultancy, will provide mine plans, schedules, and reserve estimates; Tetra Tech and SLR Consulting will continue to provide water management, closure, permitting, environmental, and community studies; and Tierra Group International, Ltd. and WSP have been engaged to provide tailings management designs and geotechnical services, respectively. The Company is also in the process of obtaining a contract mining cost estimate from a top-tier Australian mining contractor.
Qualified Person
Maria Vallejo, Vista’s Director of Projects and Technical Services, a Qualified Person (“QP”) as defined by Item 1300 of Regulation S-K under the Securities Exchange Act of 1934, as amended, and Canadian ³Ô¹ÏÍøÕ¾ Instrument 43-101 – Standards of Disclosure for Mineral Projects, has verified the data underlying the information contained herein and has approved this press release.
Mt Todd Technical Report Filings
