0000912282-18-000107.txt : 20180806 0000912282-18-000107.hdr.sgml : 20180806 20180806172558 ACCESSION NUMBER: 0000912282-18-000107 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180802 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180806 DATE AS OF CHANGE: 20180806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VISTA GOLD CORP CENTRAL INDEX KEY: 0000783324 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09025 FILM NUMBER: 18995683 BUSINESS ADDRESS: STREET 1: 7961 SHAFFER PKWY, SUITE 5 CITY: LITTLETON STATE: CO ZIP: 80127 BUSINESS PHONE: 720-981-1185 MAIL ADDRESS: STREET 1: 7961 SHAFFER PKWY, SUITE 5 CITY: LITTLETON STATE: CO ZIP: 80127 FORMER COMPANY: FORMER CONFORMED NAME: GRANGES INC DATE OF NAME CHANGE: 19950602 FORMER COMPANY: FORMER CONFORMED NAME: GRANGES EXPLORATION LTD DATE OF NAME CHANGE: 19890619 8-K 1 vista8k_080618.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: August 2, 2018
(Date of earliest event reported)
 
VISTA GOLD CORP.
(Exact Name of Registrant as Specified in Charter)
British Columbia, Canada
(State or Other Jurisdiction of Incorporation)
1-9025
(Commission File Number)
Not Applicable
(IRS Employer Identification No.)


7961 SHAFFER PARKWAY, SUITE 5, LITTLETON, COLORADO 80127
(Address of Principal Executive Offices and Zip Code)
 
Registrant's telephone number, including area code:   (720) 981-1185
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □



Item 7.01  Regulation FD

On August 2, 2018, the Registrant issued a press release that announced results of its ongoing grinding and leaching tests that indicated that gold recoveries exceeding 90% may be achieved for the Mt Todd gold project, depending on final grind size. Based on these initial results, Vista now plans to undertake additional testing to: confirm results over a broad range of feed grades, justify design changes and support a possible update of the project economics.

A copy of the press release is attached to this report as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release is deemed to be "furnished" and shall not be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, as amended and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.  The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01  Exhibits

99.1 Press Release dated August 2, 2018*

*The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.



SIGNATURES

In accordance with the requirements of the Securities and 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.
(Registrant)
 
 
Dated: August 6, 2018
By: s/John F Engele                              
John F. Engele
Chief Financial Officer



EXHIBIT INDEX

Exhibit No.   Description
99.1      Press Release dated August 2, 2018*

*The Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.



EX-99.1 2 ex99_1.htm PRESS RELEASE DATED AUGUST 2, 2018
EXHIBIT 99.1
 


Vista Gold Corp. Announces Mt Todd Met Testing Results with Significantly Improved Gold
Recoveries

Denver, Colorado, August 2, 2018 – Vista Gold Corp. (TSX & NYSE American: VGZ) ("Vista" or the "Company") today announced results of its ongoing grinding and leaching tests indicating that gold recoveries exceeding 90% may be achieved for the Mt Todd gold project, depending on final grind size.  Recently completed tests of the second stage grinding circuit undertaken by Core Metallurgy and FLSmidth, under the direction of Resource Development Inc. ("RDi"), suggest that the Mt Todd ore can be ground to a finer final product size with lower power consumption than previously estimated.  Leaching the finer final product size material has again confirmed higher recoveries at finer grind sizes.  Based on these initial results, Vista now plans to undertake additional testing to: confirm results over a broad range of feed grades, justify design changes and support a possible update of the project economics.
 
Leach Test Results
Leach tests were completed on two low-grade composites of ore from Mt Todd.  Composite 1 had an average head grade of 0.66 g Au/t (individual head grades ranging from 0.64 to 0.69 g Au/t), while Composite 4 had an average head grade of 0.65 g Au/t (individual head grades ranging from 0.60 to 0.79 g Au/t).  Leach tests were completed in triplicate on the product from each grinding test.  The following table summarizes the leach test results at various final grind sizes for the two types of stirred media mills tested, compared to the results of previous tests where the samples were prepared in a ball mill.
Composite
2nd Stage Grinding Mill
80% Passing Product Size
Average Gold Recovery
1
VXPmill
57 µm
89.67%
1
IsaMill
38 µm
90.60%
1
IsaMill
25 µm
92.40%
4
IsaMill
57 µm
84.77%
4
VXPmill
38 µm
90.03%
4
IsaMill
25 µm
91.30%
Previous Test Results
1
Ball Mill
57 µm
87.35%
4
Ball Mill
57 µm
86.69%
 
Frederick H. Earnest, President and Chief Executive Officer, commented, "The implementation of stirred media grinding technology in the design of the 2nd stage grinding circuit has allowed us to achieve significant energy efficiency improvements.  We believe that we may be able to achieve another significant reduction in final particle size without any increase in power consumption.  These test results are based on low-grade composites and some indications point to even higher recoveries on average and higher-grade material.  We now plan to undertake additional tests of the second stage grinding circuit on a variety of ore types from Mt Todd followed by leaching tests to determine expected recoveries for a range of ore grades at various finer grind sizes.  This is a continuation of our strategy to add value at a relatively low cost."

2nd Stage Grinding Tests
Vista has completed grinding tests in lab-scale stirred media mills to more accurately estimate the power consumption and final product particle size distribution for the planned 2nd stage of the Mt Todd grinding circuit.  Previous power consumption estimates were determined from data obtained in 2-stage grinding tests using lab-scale ball mills.  As reported in our updated preliminary feasibility study (see our press release dated January 24, 2018), Vista plans to use IsaMills (a type of horizontal, stirred media mill) as the principal equipment in the 2nd stage grinding circuit.  Core Metallurgy Pty Ltd in Albion, Queensland (Core) is specifically licensed to complete IsaMill testing and simulations.  They were retained and directed by RDi to complete the grinding tests.  Similarly, FLSmidth manufactures VXPmills and undertakes testing and simulations in their proprietary lab.  Both the IsaMill and VXPmill are stirred media mills with demonstrated capabilities as fine grinding mills.  Core reported that the initial samples were initially ground to a finer product size because the samples required less time and energy than expected to reach the target particle size.  In addition to lower energy consumption, Core also reported lower grinding media consumption rates.
Next Steps
Vista is continuing this work with additional grinding and leaching studies.  The grinding studies will allow Vista to obtain further data regarding the power requirements and grinding media consumption for an IsaMill to produce finer final product from Mt Todd mineral composites of various different head grades.  The product generated in these tests will then be subjected to leach tests to develop leach recovery vs head grade curves.  These results, expected to be available later this year, will then be used to re-assess project economics and determine if the economics of the updated preliminary feasibility study should be re-stated.
Qualified Person
Deepak Malhotra, on behalf of Resource Development Inc., an independent Qualified Person as defined by Canadian National Instrument 43-101, supervised the preparation of the information that forms the basis for the scientific and technical information disclosed herein and has reviewed this press release and consented to its release.
For further information on the Mt Todd Gold Project, see the Technical Report entitled "NI 43-101 Technical Report Mt Todd Gold Project 50,000 tpd Preliminary Feasibility Study Northern Territory, Australia," dated March 2, 2018 with an effective date of January 24, 2018, which is available on SEDAR as well as on Vista's website under the Technical Reports section.
About Vista Gold Corp.
The Company is a well-funded gold project developer. Our principal asset is our flagship Mt Todd gold project in Northern Territory, Australia.  Mt Todd is the largest undeveloped gold project in Australia.

For further information, please contact Connie Martinez at (720) 981-1185.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such things as our belief that recoveries exceeding 90% may be achieved for the Mt Todd gold project, depending on final grind size; our belief that the testing results show higher recoveries at finer grind sizes, lower energy consumption and lower grinding media consumption rates at a relatively low cost; our plans to undertake additional testing over a broad range of feed grades, justify design changes and support a possible update of the project economics; our belief that we may be able to achieve significant energy improvements and another significant reduction in final particle size without any increase in power consumption; the potential for higher recoveries on deposit average and higher-grade material;  conditions; our plans to use IsaMills as the principal equipment in 2nd stage grinding circuit and our potential reassessment of project economics and restatement of the updated preliminary feasibility study are forward-looking

statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following: no change to laws or regulations impacting mine development or mining activities, our approved business plans, mineral resource and reserve estimates and results of preliminary economic assessments, preliminary feasibility studies and feasibility studies on our projects, if any, our experience with regulators, our experience and knowledge of the Australian mining industry and positive changes to current economic conditions and the price of gold.  When used in this press release, the words "optimistic," "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if," "anticipate," and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of resource and reserve estimates, uncertainty as to the Company's future operating costs and ability to raise capital; risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; uncertainty as to the results of bulk metallurgical test work; and uncertainty as to completion of critical milestones for Mt Todd; as well as those factors discussed under the headings "Note Regarding Forward-Looking Statements" and "Risk Factors" in the Company's latest Annual Report on Form 10-K as filed on March 6, 2018 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, we assume no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.


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