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Viva Gold Increases Measured and Indicated Gold Resource by 41% at its Tonopah Project
VANCOUVER, British Columbia, May 21, 2019 (GLOBE NEWSWIRE) -- Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the “Company” or “Viva”) is pleased to provide a
About this update from Viva Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 21, 2019 (GLOBE NEWSWIRE) -- Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the “Company” or “Viva”) is pleased to provide an updated mineral resource estimate for the Tonopah project, located near Tonopah, Nevada. The update resulted in a 41% percent increase in gold ounces contained in the measured and indicated resource categories, with a 17% increase in grade for the measured category. The new resource estimate includes 24 new reverse circulation and four diamond core drill holes completed in three programs in 2018 and early 2019. A large tonnage of Inferred mineralization was converted into measured and indicated material. The 2019 modelling work, combined with new information received in regards to historic drilling in the Midway Hills Area, located about 900 meters northwest and directly on trend from the Tonopah deposit, has helped to refine the geologic model at Tonopah. This work is pointing to extensive open potential along the principal northwest to southeast structural trend between the two locations. This trend had previously been considered to terminate before extending to the Midway Hills area. “We are very pleased by the substantial increase in measured and indicated resource which was completed at a low cost of approximately US$10.60 per ounce including all drilling, assay, and consulting costs. These results are a major step in de-risking this project. The work demonstrated continuity in the mineral zones and our ability to rapidly upgrade the resource with a limited number of new drillholes. We are also excited by the significant potential demonstrated in the sparsely drilled extension between the Tonopah project and the Midway Hills area. Our work in this area has pointed to open locations for a new step-out drilling program. We remain ever more positive in our ability to substantially increase the size of the Tonopah project,” states James Hesketh, President & CEO. The updated mineral resource estimate for the Tonopah project follows: Pit-Constrained Mineral Resource Classification Tonnes (x1000) Gold Gradegrams/tonnes Contained Ounces Measured 2,500 1.32 112,000 Indicated 6,300 0.62 141,000 Measured and Indicated 8,800 0.93 262,000 Inferred 6,000 0.54 123,000 Note: 0.25 g/t Cutoff Grade Thoma...