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Significant Exploration Upside Potential at Viva Gold’s Tonopah Project
VANCOUVER, British Columbia, June 03, 2019 (GLOBE NEWSWIRE) -- Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the “Company” or “Viva”) is pleased to present
About this update from Viva Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, June 03, 2019 (GLOBE NEWSWIRE) -- Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the “Company” or “Viva”) is pleased to present an updated exploration model for the Tonopah project, located near Tonopah, Nevada. As discussed in Viva’s press release of May 21, 2019, current resource modelling work, combined with new information received in regards to historic drilling in the Midway Hills (“MH”) area of the Tonopah project, has helped to refine the geologic model at Tonopah and define potentially significant exploration upside potential for the project. The MH area of the Tonopah project was the subject of exploration work by a number of reputable Companies including Coeur Mining, Rio Algom and Kennecott who dilled approximately 55 reconnaissance drillholes in the MH area between 1988 and 2002. The 2019 resource model for the Tonopah project was extended for the first time to incorporate the MH area. This work developed blocks of mineralized material containing approximately 30,000 gold ounces. No pit shell was developed in this area, so this material is not currently considered part of the mineral resource. Additional detail on the estimation methodology will be incorporated in the updated Technical Report on Mineral Resources for the Tonopah Project, which is expected to be filed during July, 2019. “Drilled mineralization in the MH area provides a demonstrable anchor point at one end of an almost one to 1.5 kilometer linear extension from the northwest trending primary resource area at the Tonopah project. Historic drilling exists along this trend, but at a broad spacing of approximately 200 to 250 meters, which is insufficient density to develop resource. Very similar to lithologic and structural controls in the Tonopah project area, gold intercepts grading above 0.25 grams per tonne (“g/t”) can be seen in this zone where drillholes penetrated the Palmetto Argillite (“Opa”)/Tertiary Volcanic (“Tv”) contact zone and higher grades can be seen where the trend has been cut by cross-faulting. We believe that this under-drilled trend represents significant upside potential for the project,” states James Hesketh, President & CEO. Deposition of gold mineralization at Tonopah is believed to be associated with a large break in the complex Rye Patch fault system, creating extens...