NI 43-101 Technical Report Vista Gold Corp.

50,000 tpd Preliminary Feasibility Study – Northern Territory, Australia Mt. Todd Gold Project

13.0 M I N E R A L P R O C E S S I N G A N D M E TA L L U R G I C A L
TESTING
This section reports on the work done to develop the understanding of the metallurgical characteristics of the
remaining ore in the Batman deposit. This understanding contributes to the design of a technically effective
and economically efficient gold recovery operation.

13.1 SUMMARY
Key conclusions drawn from the metallurgy studies to date are:
• Mt. Todd (and in particular the Batman deposit) ore is one of the hardest and most competent ore
types processed for mineral recovery. The most energy efficient comminution circuit has been
determined to be the sequence of primary crushing, closed circuit secondary crushing, and closed
circuit HPGR tertiary crushing followed by ball milling.
• The ore is free-milling, has no preg robbing problem, and is amenable to gold extraction by
conventional cyanidation processes.
• The ore has relatively high specific cyanide consumption, determined to be 0.77 kg of sodium
cyanide per tonne of ore. This is largely due to the presence of sulfides and cyanide consuming
copper.
• The ore requires a P80 grind of 90 µm and 24 hour leach residence time to achieve a nominal
82% gold recovery (81.7% net of solution loss) from a global head grade of 0.86 g Au/t of ore.

13.2 HISTORIC METALLURGICAL TEST PROGRAMS

The Mt. Todd deposit is a large low-grade gold deposit. The average grade of the gold mineralization is
approximately 1 g Au/t. The gold mineralization occurs in a hard, uniform greywacke host and is associated
with sulfide and silica mineralization which has resulted from deposition along planes of weakness that had
opened in the host rock. Gold is fine grained (<30 µm) and occurs with both silica and sulfides. The host
rock is very competent with a Bond Ball Mill Work Index (BWi) of 23 to 30 kWh/t.
A substantial body of knowledge has been accumulated for the metallurgy of Mt. Todd ore, some from the
historical operation of the mine, but more importantly, detailed information has been developed from recent
sampling of the remaining ore body. Observations are as follows:
• 1988 – 1997 metallurgical studies by previous owners (Pegasus) led to the design and construction of
a treatment plant comprised of crushing, milling to a P80 of 150 µm, sulfide flotation, concentrate
regrind and cyanidation, and, separate CIL cyanidation of flotation tailings. Operational efficiencies
were lower than planned due to high degree of ore hardness, presence of cyanide-soluble copper
minerals, and inefficient flotation performance resulting from the presence of free cyanide in the
process water (from recycled tailings decant water). These process difficulties together with the
collapse of the gold price led to the cessation of operations in the mid 1990s.
• In 2006, Vista acquired the Project with the belief that each of these challenges could be overcome
through the use of current technology, adequate metallurgical testing and higher gold prices.
Vista’s consultant, Resource Development Inc. (RDi), completed a study using historical
metallurgical data and test results from transition ore samples. RDi proposed a flowsheet consisting
of crushing and grinding followed by rougher flotation to produce a sulfide concentrate containing
85% of the gold. Rougher tailings, substantially barren of gold and sulfides, would be discarded to a

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benign tailings dam. Rougher concentrate would be reground to enable upgrading in a cleaner
flotation circuit to produce a saleable copper concentrate containing 50% of the gold. Cleaner tailings
would be cyanide leached in a CIL circuit for gold recovery. The cleaner tailings would be subjected
to cyanide destruction and stored in a separate sulfide tailings dam.
• The design incorporated energy efficient HPGR technology in the comminution circuit to handle the
extremely hard ore. These processing advantages combined with a higher gold price significantly
improved the viability of the proposed operation. It then became necessary to confirm if the
remaining ore had the same metallurgical characteristics as the historically processed ore.
• In 2007/2008 two exploration drilling programs were completed focusing on the deeper ore beneath
the existing Batman pit. The new cores were more representative of the remaining resource and
samples were selected for confirmatory metallurgical test work. It was confirmed that the ore was
extremely hard but it was not possible to repeat the flotation results previously achieved. The tests
indicated that gold recovery into the rougher flotation concentrate was ± 80% at a grind P80 of 74µm
but copper could not be upgraded to saleable concentrate grade of ± 20% Cu. The best results were
± 6% Cu using the same test procedure as employed for earlier core testing (2006).
• Investigations revealed that the historical core tested in 2006 was transition zone material containing
copper minerals predominantly as secondary copper which is known to be a major consumer of
cyanide. The major sulfide mineral was pyrite. However, the 2007 and 2008 drill core had primary
copper as predominant copper species and pyrrhotite as the major sulfide mineral. Pyrrhotite is
known to float readily as compared to pyrite and is significantly more difficult to depress in the
flotation process. It was difficult to selectively float copper minerals and produce a copper
concentrate without the dilutive effect of pyrrhotite and other gangue minerals. Consequently
flotation was dropped from the flow sheet and replaced with whole ore leach.
• In 2010/2011 a confirmatory drilling campaign and metallurgical test program was conducted on the
remaining Batman resource. The objective was to validate the findings of the 2007/2008 programs
and to expand the level of understanding of variability of metallurgical performance within the
Batman ore body.
• The test program was designed by Vista, supervised by Ausenco Limited (Ausenco), and executed by
ALS Ammtec in Perth, Western Australia. The test results confirmed that gold recovery by whole ore
leach was the appropriate approach to process design.

13.3 SAMPLING
This section records key details of core sampling and sub-sampling in the preparation of representative
material for metallurgical test work.

13.3.1 DRILLING PROGRAM 2007-2008

The following composites were prepared for RDi’s testwork conducted on the samples of the deeper Batman
ore from the 2007/2008 drilling program:
• Composite 1 – 1,200 kg composite sample made up from 2007 drill core. The composite consisted of
samples from five drillholes selected to be representative of a cross section of the deposit. The head
assay was 1.3 g Au/t, 0.92% S and 447 ppm Cu. The sequential copper analysis indicated 80.4% of
the copper in the sample was primary copper. The dominant sulfide in the sample was pyrrhotite.
• Composite 2 – 140 kg composite sample made up from 2008 drill core. The head assay was
0.89 g Au/t and 450 ppm Cu. The sequential copper analysis indicated 80.3% of the copper in the
sample was primary copper. The dominant sulfide in the sample was pyrrhotite.
• Drillhole 41 sample was sourced from the oxide and transitional zones (depth of 0–65 m). The head
assay was 1.78 g Au/t, 1.42% S, 448 ppm Cu.

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13.3.2 DRILLING PROGRAM 2010-2011

Samples used for the 2011 metallurgical testwork program were sourced from eight drillholes drilled
2010/2011. The drillholes were orientated to intersect the main Batman ore body beneath the existing pit and
are representative of the ore within the PFS pit shell.
All samples from drillholes labeled VB11 were drilled in 2011, logged, packaged then shipped directly to the
laboratory for processing. Drillholes labeled MHT were drilled and logged during 2010 and were stored in
cold storage before being transported to the laboratory in 2011.

13.3.3 METALLURGICAL TEST PROGRAM SAMPLES 2011

ALS Ammtec was supplied with ninety-nine (99) composited gold ore drill core intervals originating from
the Project area. Each phase of the test program was allocated a suite of composite samples designated as
follows:
• Metallurgical Composites: Four main ore type composite samples were generated from drill core
from the 2010/2011 drill program. The samples were designated as follows:
 Master composite;
 MHT-001 drillhole composite, used for HPGR testwork;
 MHT-004 drillhole composite, used for HPGR testwork; and
 2010 HPGR composite, used for additional HPGR testwork.
• Comminution Samples: Twenty comminution samples were selected from drill core from the
2010/2011 drill program.
• Variability Samples: The variability samples were selected to be representative of the various ore
zones, weathering, spatial representation and variations in grade which make up the Batman deposit.
A total of 99 variability composites were constructed from the 2010/2011 drill cores.

13.4 METALLURGICAL TESTWORK PROGRAM

A leading Perth laboratory, ALS Ammtec, was commissioned in 2011 to conduct an extensive defined
program of metallurgical testwork on samples of gold ore drill core composites originating from the Project
as described above.
This work included the following:
• Head sample analysis – original samples and composites;
• Crushing testwork – HPGR and conventional crush;
• Comminution testwork;
• Bond impact crush work index (CWi) determination ;
• Uniaxial compressive strength (UCS) determination ;
• SAG mill comminution (SMC) testwork;
• Bond ball mill work index (BWi) determination ;
• Mineralogical analysis;
• Oxygen uptake rate determination;
• Extraction testwork;

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• CIL cyanidation leaching testwork;

• Direct cyanidation time leach testwork;
• Sequential triple contact CIP testwork;
• Magnetic separation – dry and wet LIMS;
• Cyanide detoxification testwork;
• Geochemical tests;
• Mixer design testwork;
• Rheology testwork; and
• Flocculation and thickener design settling testwork.
The testwork was controlled by Vista and their consultant Ausenco under the supervision of ALS Ammtec
metallurgist.

13.5 MINERALOGY
In support of the metallurgical test program, a mineralogical examination was conducted on six drill core
composite specimens to determine gold deportment and identify other minerals present in the ore. The quartz
vein hosting sulfides and gold was targeted. Gold deportment throughout the quartz vein was in the form of
fine disseminated nuggets less than 20µm in size. Metallic bismuth also interspersed with the gold.
Several sulfides were detected in the samples, including pyrite, pyrrhotite, chalcopyrite, sphalerite and galena.
In most of the samples the dominant sulfide was pyrite, with the only exception being Var-26 where a large
pyrrhotite grain was detected in the measurement area. The apparent scarcity of pyrrhotite was contrary to
the 2006 test conclusion that pyrrhotite replaces pyrite as the dominant sulfide at depth. The drillhole logs for
the variability samples also suggest that pyrite remains the dominant sulfide species irrespective of depth.
This anomaly is worth further investigation. The manual SEM EDS analysis of the detected gold grains
during the gold search found that the majority of the gold occurred as both pure gold and argentian gold.

13.6 METALLURGICAL TEST RESULTS

The results of the metallurgical testing are presented in the following subsections. The work was primarily
performed by ALS, but included contributions from Polysius and other vendors.

13.6.1 COMMINUTION TESTS

Twenty comminution samples were selected for SMC Tests® and Bond Ball Mill Work index (BWi) tests.
Variations of tests included the following:
• BWi determinations on the master composite sample at different closing screen sizes;
• BWi comparison between conventionally crushed material and HPGR product;
• BWi determinations on selected leach variability samples at various closing screen sizes; and
• Crusher work index test on eight of the comminution samples.

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The results indicated that the Batman ore is consistently very competent throughout the ore body. This is
indicated in the following data bullet points:
• Average specific gravity (SG) of 2.76;
• 75th percentile A x b value of 22.1;
• 75th percentile DWi value of 12.8 kWh/t; and
• 75th percentile value BWi of 26.3 kWh/t.
Bond work index decreased by approximately 8% to 24.2 kWh/t when HPGR crushed ore was tested
(ostensibly due to particle micro cracking).
Samples submitted for HPGR tests gave the following results:
• ATWAL Abrasion tests: two variability samples had very similar results, “low/medium” abrasiveness
at 1% moisture and a “medium” abrasiveness at 3% moisture.
• HPGR specific throughput had a reasonably close variance across eleven samples tested. The rate
varied between 259 and 284 ts/m3h (specific throughput (ts) per cubic meter hour is the capacity of a
machine with a roll diameter of 1 m, roll width of 1 m and a peripheral speed of 1 m/s).
• Moisture content did not impact on the specific throughput rate.
• HPGR specific energy consumption varied between 1.33 and 2.40 kWh/t depending on the applied
specific press force and moisture. At a standard press force of 3.5 N/mm2 the specific energy
consumption was between 1.8 and 1.9 kWh/t.
• HPGR product fineness of approximately 65% < 6.3 mm, 25% < 1 mm and 11% <200 μm was
achieved in a single pass through the MAGRO machine from a feed of <31.5 mm at a specific press
force of 3.5 N/mm2.
The circulation factor required to produce a 6 mm product (P80 = 3.25 mm) was 2.45. The required net
specific energy input was 1.9 kWh/t of HPGR feed including circulating load, which equates to 4.6kWh/t of
finished product at a P80 of 90 µm (for HPGR composite sample MHT004 Test 2.1).

13.6.2 COMMINUTION CIRCUIT OPTIONS

The 2006 conceptual flow sheet used closed circuit HPGR tertiary crushing to replace the problematic
vertical shaft impact crushers employed in the earlier as built plant. In 2011 a study was commissioned to
verify that the use of HPGR was technically and economically justified.
Vista appointed Ausenco to perform a technical evaluation of comminution circuit options using JKSimMet
and power-based models. Various SAG versus HPGR options were modeled with input from tests
undertaken by JKTech. The tonnage throughput used for the models was 1350 tonnes per hour (11 Mtpy)
and the target grind was a P80 of 150µm. The modeling was peer reviewed by independent consultant Dr.
Steve Morrell of SMCC Pty Ltd.
The most compelling result from the study was that the HPGR circuit requires 23% less energy for the same
duty as the SAG-based options. These results were similar for both the JKSimMet models and the power
based models. It was confirmed that the comminution circuit would be closed circuit secondary crushing
followed by closed circuit HPGR tertiary crushing and finally ball milling to finish the grind.

13.6.3 GRIND SIZE OPTIMIZATION TESTS

Grind optimization tests resulted in the following conclusions:

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• Gold recovery from all ore types is grind sensitive between P80 sizes of 53 μm and 212 μm.
• The optimum grind P80 for the Project mill design is 90 μm.
• Gold continues to leach up to 48 hours, however there is little benefit beyond 24 hours.
A grind P80 of 90 μm and a leach residence time of 24 hours were consequently selected for the Project.

13.6.4 LEACH OPTIMIZATION TESTS

Leach Cyanide Consumption

The leach cyanide consumption was derived from the 30 variability leach tests completed at 90 µm.
The average cyanide and lime consumptions were calculated for the oxide and sulfide samples for a
24 hour leach and adsorption residence time. The average consumption for oxide was 0.77 kg/t and
for sulfide 0.59 kg/t.
Laboratory optimized leach CIL tests demonstrated gold recovery of a nominal 82% (81.7% net of
solution loss) with a grind P80 of 90µm and leach and adsorption residence time of 24 hours.
To minimize the loading of copper onto carbon, a certain free cyanide concentration is maintained in
the system to keep the copper as Cu(CN)3 and Cu(CN)4. The required ratio is 4.2 to 1 free cyanide to
copper in solution to minimize dissolved copper loading onto carbon. The average Cu in solution was
calculated for the sulfide samples as well as for the oxide samples at 24 hours from the variability
testwork at 90 microns. The average Cu in solution for the sulfide samples was 62 g/m3 and for the
oxide samples was 220 g/m3.
According to the mine plan, over the life of the mine oxide makes up 0.66% of plant feed, with the
remaining 99.34% being either ‘mixed’ ore or sulfide ore. The average weighted cyanide
consumption is calculated as 0.66% x 0.77 + (1-0.66%) x 0.59 = 0.59 kg/t.
The additional free cyanide required is calculated to be 0.14 kg/t, thus the total leach cyanide
consumption is expected to average 0.77 kg/t.
The following optimal leach conditions were determined from a series of tests:
• Initial pH of 11 adjusted with 60% available CaO;
• Initial sodium cyanide concentration of 0.05% w/v maintained at > 0.025% w/v;
• Pulp density of 55% w/w;
• Air sparging to maintain dissolved oxygen (DO) level at or greater than 9 ppm, oxygen uptake after
6 hours was 0.23 mg/L/min;
• 100 g/t lead nitrate addition; and
• 24 hour leach residence time and grind P80 of 90µm.

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13.6.5 CYANIDE DETOX TESTS

Two leach residue samples from the master composite leach test program were used for cyanide detox tests.
The following analytical methods were applied to detox head and tail solutions:
• Copper, Iron, Nickel, Zinc in solution: Direct inductively coupled plasma optical emission (ICP-
OES);
• Cyanide – weak acid dissociable (WAD): Picric acid method; and
• Cyanide – free: Silver nitrate titration.
Cyanide speciation on the detoxification feed and products was performed by the Chemistry Centre of
Western Australia. Several small-scale cyanide detoxification tests using the SO2/air process were
conducted. The target was to achieve a final WAD cyanide level below 10 ppm. The slurry used in the
cyanide destruction testwork was taken from a bulk leach test performed under the optimized conditions at 90
μm grind.
The conclusions from the testwork are as follows:
• The air–SO2 method successfully reduces CNWAD to levels of <10 ppm.
• An SO2:CN ratio of 4.3 is required to reduce CNWAD levels to <10 ppm.
• There is sufficient dissolved copper in the leach solution for precipitation of copper iron cyanide
compounds, no need for additional copper.
• One hour detox residence is sufficient for the process.
• Lime dosage requirement was determined to be a ratio of 1.3 g of lime per g of SO2.

13.6.6 BULK FLOW CHARACTERIZATION TESTWORK

A materials handling study was undertaken by The University of Newcastle Research Associates (TUNRA)
to determine the flow properties of a sample of waste composite at the as-supplied moisture level of 0.3%.
The TUNRA tests provide relevant parameters for the design of efficient and reliable bulk storage and
handling facilities.
The results indicate a moderately easy handling material with low bulk strength which increases slightly after
3 days undisturbed storage. The material has a very low propensity to form stable ratholes. Tests indicated
moderately small critical arching dimensions with moderately steep half angles for typical wall materials.
Wall friction measurements at 0.3% moisture indicate reasonably low wall friction.

13.7 ADDITIONAL TESTWORK CONDUCTED IN 2012

13.7.1 GENERAL

Thickener and leach slurry tests performed during the 2011 campaign were based on grind P80 of 120 µm.
For design purposes, additional tests were performed in 2012 on slurry at a grind P80 of 90 µm. The tests
included the following:
• Thickener settling testwork, settling rate, thickener flux, final compaction achieved, and flocculant
consumption.
• Leach and CIP circuit viscosity testwork to determine the optimum leach circuit density.

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Leach residue samples were prepared by re-grinding previous leach test samples to a P80 of 90 µm, this was
used for rheology tests. A newly ground sample was prepared from the remaining master composite for the
thickening testwork.

13.7.2 LEACH / CIP RHEOLOGY TESTWORK

Sample Preparation
Thirty samples from the variability composite at P80 of 90 µm were dispatched from ALS laboratories to SPX
in Sydney for rheology testwork.

Rheology Testwork
The aim of the new testwork was to determine the maximum tolerable CIP slurry density. The previous
coarser grind material had a tolerable density of 60% solids.
The addition of lime has the potential to significantly affect the viscosity of the leach slurry, therefore the
tests were conducted at a pH of 10.5 by the addition of hydrated lime. The tests also provided information on
the following:
• Mixing efficiency and ability to achieve a uniform solids suspension.
• Ability to re-slurry following a power failure.
• Tank design requirements (diameter to height ratio, number of baffles etc.).
• Size and budget cost information for a CIP tank agitator.
Rheology Testwork Results
Based on the rheology test results and the results of physical solids re-suspension testwork, the SPX
recommendation for agitation design based on various tank sizes is shown in Table 13-1.

Table 13-1: SPX Agitator Size Recommendations

3 3 3 3
Item 6000 m Tank 5500 m Tank 5000 m Tank 4500 m Tank
50%wt solids S783 – 132 kW S783 – 132 kW S783 – 132 kW S783 – 132 kW
55%wt solids S784 – 150 kW S783 – 132 kW S783 – 132 kW S783 – 132 kW
60%wt solids Hansen – 185 kW Hansen – 185 kW 784 – 150 kW 784 – 150 kW

SPX commented as follows:

• Operating at 55%wt solids seem to be optimal in terms of power requirement;
• A dual down-pumping axial flow impeller combination is recommended;
• The optimal tank height-to-tank-diameter ratio is 1:1. Any changes to tank dimensions could have a
significant impact on agitator selection, thus cost; and
• The tank would require three baffles equi-spaced at 120°.

13.7.3 THICKENER TESTWORK

The testwork was undertaken by Outotec Oyj. (Outotec) to determine the thickener size, flux rate and
flocculant consumption. Approximately 20 kg of the Master Composite 3.35 mm crushed sample was
ground to 80% passing 90 µm for the thickening testwork. The outcome of the testwork results are as shown
in the Table 13-2.

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Table 13-2: Outotec Thickener Recommendations

Item Units Base Case Alternate Case
Solids Feedrate tph 2265 1495
2
Solids Loading t/m h 1.30 1.30
Feed Slurry Density % solids 12.5 12.5
Slurry pH pH 7.5 7.5
Flocculant Dosage g/t 15 15
Underflow Density % solids 61-63 61-63
Overflow Clarity ppm <250 <250
Thickener Diameter m 45 37

13.8 HISTORICAL REVIEW

The Mt. Todd project was an operating gold mine in the 1990’s. Previous operators successfully recovered
gold from the oxide portion of the deposit, but encountered difficulties in processing the ore as the mine
transitioned from the oxide heap leach operation to a sulfide milling operation. Some of the metallurgical
challenges encountered, but not adequately addressed at that time were: hard ore (23.5-Bond ball mill work
index), cyanide-soluble secondary copper minerals, and inefficient flotation sulfide mineral recovery
resulting from presence of free cyanide in the process make-up water. Vista acquired the Project with the
belief that each of these challenges could be overcome through the use of current technology, adequate
metallurgical testing and higher gold prices.
In 2006, Vista retained RDi to evaluate the metallurgical characteristics of the Mt. Todd Project and develop
a process flowsheet that would optimize the recovery of gold through the efficient use of proven processing
technologies. Testwork has also been undertaken at several other testing facilities including; Krupp Polysius
Research Center Germany, JK Tech Pty. Ltd. Australia, Pocock Industrial, Inc. Utah, and Kappas, Cassidy
and Associates Nevada. The extensive metallurgical testwork has resulted in an economically viable process
flowsheet which has overcome the metallurgical challenges encountered by earlier operators.
The process flowsheet discussed in this section has the following significant advantages over earlier
processing options:
• Better characterization of the resources at site has indicated that copper may not be as important an
issue as indicated by a reviewer of the historic processing challenges encountered by earlier operators.
This has resulted in the development of the ore-cyanidation leach process presented in the process
flowsheet;
• Incorporation of the HPGR technology in the comminution circuit to handle the extremely hard and
coarsening of the grind has resulted in a significant reduction in the energy requirement for the
proposed flowsheet; and
• Pre-aeration of the ground ore with lime has resulted in a reduction of the cyanide consumption in the
process.
These processing advantages combined with higher gold price significantly improve the viability of the
proposed operation.

13.8.1 HISTORICAL REVIEW OF CONCEPTUAL PROCESS FLOWSHEET

RDi reviewed historical metallurgical testwork for the project conducted in 2006 and proposed a conceptual
process flowsheet that could potentially overcome the technical problems encountered by previous operators.

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The proposed flowsheet consisted of crushing and grinding the ore followed by floating the sulfides and gold
in the rougher flotation. The objective of the rougher flotation step was to maximize recoveries of gold,
copper and other sulfides. Rougher tailings would have negligible amounts of sulfides and would be non-
acid generating thereby allowing the tailings to be sent to the existing tailings pond. Rougher concentrate
containing 85% or more of the gold content in the ore would be reground and selectively floated to recover
copper and gold in a cleaner concentrate which would assay over 20% Cu. The concentrate would contain
approximately 50% of the gold and would be sold to a smelter. Cleaner tailings would be cyanide leached in
the CIL circuit. Leach residue would be subjected to cyanide destruction and the sulfides would be sent to a
separate tailings pond. The tailings pond would be constantly monitored to ensure that acid is not generated.
To confirm this flowsheet, RDi undertook a testing program in late 2006 utilizing core samples provided by
Vista. The core samples consisted of approximately 3 kg each of ten drill-core reject samples stored for
several years. The composite sample prepared for the study assayed 1.78 g Au/t, 448 ppm Cu, and
1.43% STotal. Based on sequential copper analyses, the copper present in the composite consisted of three
percent oxide copper, 63%secondary copper and 34% primary copper. The major sulfide mineral in the
sample was pyrite. Froth flotation using a simple reagent suite consisting of potassium amyl xanthate,
Aeropromotor 3477 and methyl isobutyl alcohol recovered approximately 82% of gold and 90% of copper in
a rougher concentrate at a primary grind of P80 of 200 mesh. Following regrind, the rougher concentrate was
upgraded to ± 19% Cu in two cleaner flotation stages. Additional cleaner stages could not be tested due to
limited sample availability. Cyanide leaching of the cleaner tailings which contained ± 35% of the gold
extracted 84% of the gold in the tailing. The limited open-circuit testwork indicated that the proposed
conceptual process flowsheet should work for the deposit.

13.8.2 REVIEW OF METALLURGICAL TESTWORK

Vista conducted the exploration programs on the Mt. Todd Project in 2007. Part of the core from the 2007
drilling program was used for metallurgical testing to confirm the conceptual process flowsheet. The
composite sample was very hard (Bond ball mill work index of 23.9 Kwh/t) and averaged 1.37 g Au/t,
447 ppm Cu and 0.92% STotal. The metallurgical testwork indicated that gold recovery into the rougher
flotation concentrate was ± 80% at a primary grind of P80 of 200 mesh. Copper in the rougher concentrate
could not be upgraded to provide concentrate assaying ± 20% Cu. The best results were ± 6% Cu using the
same test procedure as employed for earlier core testing (2006).
Similar metallurgical results were obtained on a composite using 2008 core samples. This composite assayed
0.89 g Au/t and 450 ppm Cu. The poor metallurgical performance results obtained on the 2007/2008 core
sample composites prompted a study to determine the reasons for the differences in metallurgical response
compared to the historic core. The results indicated that historical core had copper predominantly as
secondary copper which is known to be a major consumer of cyanide (Table 13-3). The major sulfide
mineral was pyrite. However, 2007 and 2008 drill core had primary copper as predominant copper species
and pyrrhotite as major sulfide mineral. Pyrrhotite is known to float readily as compared to pyrite and is
significantly more difficult to depress in the flotation process. Thus, it was difficult to selectively float copper
minerals and produce a copper concentrate.
As a result of flowsheet changes and the incorporation of HPGR technology, power requirements have
dropped.
Historical drill core stored at site, i.e., sample material used in the earlier conceptual studies, was
predominantly from the transition zone. Subsequent studies have confirmed that ore with similar

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characteristics (i.e., transition zone sulfide minerals) accounted for less than five percent of the remaining
resources at the mine. Over 95% of the resources were typical of ore encountered in 2007 and 2008 drilling.
Hence, copper may not be as important an issue as indicated by a review of the historical processing
challenges encountered by earlier operators.

Table 13-3: Assays of Various Composite Samples

Parameter Historical Core 2007 Drilling 2008 Drilling
g Au/t 1.78 1.3 0.89
CuTotal, ppm 448 447 450
CuAcidSol, ppm 14 19 24
CuCNSol, ppm 295 68 65
STotal, % 1.42 0.92
Cu Distribution, %
Oxide 3.1 4.3 5.3
Secondary 65.8 15.3 14.4
Primary 31.1 80.4 80.3
Primary Sulfide Mineral Pyrite Pyrrhotite Pyrrhotite

While this ore characterization study was on-going, the issue of ore hardness was also evaluated by RDi. It is
widely recognized that the energy required to grind the material to a desired size in a conventional flowsheet
increases as the hardness of the ore increases. Taking advantage of the basic principle “that it is cheaper to
crush than to grind” since crushing requires less energy than grinding, testwork was undertaken to evaluate
HPGR in order to reduce energy requirements for the process flowsheet. Based on subsequent laboratory
studies, the energy requirements for the flowsheet shown in Figure 13-1 was determined. The results found
in Table 13-4 indicate a significant reduction in power requirements by incorporating HPGR in the grinding
circuit and changing the process to whole ore leach at a coarse grind size. As a result of flowsheet changes
and the incorporation of HPGR technology power requirements dropped from 33.70 kwh/t to 18.11 kwh/t.
The reduction in energy consumption was ± 25% when HPGRs were incorporated into the circuit. JK Tech
Pty Ltd. conducted comminution tests on five samples of drill core from Mt. Todd Mine for Vista.
This testing included SAG Mill Comminution, Bond Rod Mill Work Index, Bond Ball Mill Work Index,
Bond Abrasion Index and HPGR testing. These results confirmed earlier finding that the ore was “very
hard”, compared to a database of other ores, and this hardness did not exhibit a large variability across the
range of samples tested.
Ausenco undertook a technical evaluation of the various comminution circuits based on the testwork
undertaken by JK Tech Pty Ltd. They evaluated six different processing options and concluded that Vista
should adopt a comminution flowsheet based on a secondary crush, HPGR and ball mill circuit for treating
the Batman deposit. This circuit would have 23% reduction in energy requirements over the conventional
semiautogeneous mill, ball mill, and pebble crusher (SABC) circuit.

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NI 43-101 Technical Report Vista Gold Corp.
50,000 tpd Preliminary Feasibility Study – Northern Territory, Australia Mt. Todd Gold Project

Table 13-4: Energy Requirements for Different Process Flowsheets

Flotation Process Direct Leach
(P80=200 mesh) (P80=100 mesh)
Conventional Crush/Grind
Power, kwh/t 33.70 24.06
Steel, kg/t 0.72 0.66
HPGR/Grind
Power, kwh/t 24.22 18.11
Steel, kg/t 0.79 0.72

A decision was made not to recover copper as by-product as a result of better understanding the mineralogy
of the Batman deposit through the metallurgical testing completed on the drill core from the 2007 drill
program. RDi evaluated a whole ore leach option to determine the viability of this flowsheet at a coarser
grind. Based on past experience, pyrrhotite can be pacified with a pre-aeration of the pulp at pH 11.
The process flowsheet evaluated for whole ore leach is given in Figure 13-1.
Testwork was systematically undertaken to evaluate and optimize the various process parameters one-at-a-
time. The parameters evaluated included grind size, pre-aeration time, cyanide concentration (in both
maintained and decay modes), leach time and carbon-in-pulp gold recovery (CIP). The successful
completion of each subsequent test and the definition of the optimal range of the corresponding variables
resulted in an improvement in the process flowsheet. As this was a process that occurred over a period of
time, the CIP test was the last variable tested. Results from the CIP tests, shown in the Table 13-5,
incorporate the optimal ranges determined by previous tests. It is important to note that the results of the CIP
tests are best estimates of the expected gold recovery from the proposed process flowsheet. Carbon
adsorption of the gold and subsequent gold assay of the carbon reduces the inherent sampling and assaying
errors of direct measurement of low grade solutions.
The Mt. Todd Project can be expected to recover a nominal 82% of the contained gold (81.7% net of solution
loss) with the proposed process flowsheet.
RDi provided cyanide leach residue to Pocock Industrial, Inc. to develop data for design of thickening and
filtration equipment for the Project. The testwork undertaken included flocculant screening tests,
conventional and dynamic thickening tests, viscosity tests and vacuum filtration tests to size horizontal belt
filters. The highlights of the study indicated the following:
Results from particle size analyses showed the leach residue to have a P80 of 195 µm.
• The flocculant selected for the study was high molecular weight, low charge density anionic
polyacrylamide (Hychem AF303).
• The unit area for conventional thickening was determined to be 0.125 m2/tpd with 70% underflow
solids using 10-15 g/mt of flocculant.
• The design basis for a high rate thickener was determined to be 7.33 m3/m2hr of feed loading with
maximum 70% underflow solids.
• For paste thickening (74 to 75% solids), the recommended design basis net feed loading was
determined to be 7.3 to 8.3 m3/m2hr.
• The horizontal belt filtration rate ranged from 65.88 to 1076 dry kg/m2hr depending on the moisture
content of the filter cake (i.e., 15 to 18%).

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NI 43-101 Technical Report Vista Gold Corp.
50,000 tpd Preliminary Feasibility Study – Northern Territory, Australia Mt. Todd Gold Project

Kappes, Cassiday and Associates undertook limited tailing characterization testwork which included
detoxification of leached tailings followed by characterization and environmental testing of the detoxified
tailings. The SO2/air process produced less than 50 ppm CNWAD cyanide following the detoxification process
using 2.3 g of sodium metabisulfite (SMBS) per g of total cyanide.

Table 13-5: Leach Test Results (P80=100 mesh)

Cyanide Leach Extraction % Cal. NaCN

Test Residue
Maintain/ Time, Head Consumption
No. Au Cu g Au/t
Decay Hours g Au/t Kg/t
72 Decay 24 82.6 13.5 0.20 1.14 0.60
76 Decay 30 80.4 14.3 0.20 1.03 0.54
78 Maintain 30 82.2 14.5 0.17 0.93 0.60
80 Decay 36 82.2 15.0 0.14 0.79 0.54
82 Maintain 36 84.0 16.3 0.14 0.85 0.59
99 Decay CIP 24+6 82.3 14.1 0.19 1.05 0.52
100 Decay CIP 24+6 82.0 15.6 0.18 1.01 0.58
101 Decay CIP 24+6 85.4 14.4 0.15 1.04 0..40
102 Decay CIP 24+6 86.7 14.4 0.15 1.15 0.46
Leach tests at 40% solids, pH 11 with 1 g/L NaCN initial addition. CIP tests run with 20 g/L carbon added after 24 hrs. All tests
have 4 hours pre-aeration.

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