Business
Viva Gold Provides Update on Status of Work at its Tonopah Gold Project in Nevada
VANCOUVER, BC / ACCESSWIRE / January 5, 2021 / Viva Gold Corp. ( TSXV:VAU)(OTCQB:VAUCF ) (th...
About this update from Viva Gold Corp
[{"type":"text","content":"Viva Gold Provides Update on Status of Work at its Tonopah Gold Project in NevadaVANCOUVER, BC / ACCESSWIRE / January 5, 2021 / Viva Gold Corp. (TSXV:VAU)(OTCQB:VAUCF) (the \"Company\" or \"Viva\") is pleased to provide its investors with an update of its ongoing exploration and development activities and forward-looking plans for the Tonopah Gold Project, located near Tonopah Nevada.\"In 2021 Viva will focus on the execution of its strategic business plan, which includes advancing the Tonopah gold project to feasibility study and permitting, while simultaneously continuing to develop the significant exploration potential of this highly prospective land position\", stated James Hesketh, President and CEO. \"Our plan is to develop an open pit-heap leach gold mine at Tonopah around our currently identified gold resource base to produce at least 40,000 to 50,000 ounces of gold per year with a 6-9 year mine life, while continuing to increase the gold resource base. To put this in context: our goal is to develop a business that at current gold prices would produce annual revenues in the range of US$80 to $100 million\", he added.During the second half of 2020, significant progress was made at the Tonopah project with a number of tasks being undertaken to meet Viva's strategic plan. Results from these activities will be utilized to provide the information required to initiate feasibility study and permitting activities in 2021. Following are the status of the activities at the Tonopah project.Drilling & Technical Study An 11-hole Reverse Circulation (RC) drill program was completed in November 2020, totaling 2,016 meters, which clearly demonstrated that the primary northwest-southeast mineral trend on the property has not been closed off, but remains open for further extension with additional drilling.Additional RC drilling is being planned for 2021 to further define and potentially extend the open extension to the northwest-southeast mineral trend.The first two large diameter core holes (TM2001 and TM2003 - PQ 85mm size core) in the Discovery and the West Pit zones were completed before year-end 2020. These holes were drilled in the core of two known zones of mineralization to capture samples for environmental and metallurgical testwork. Assays are pending on these drillholes with results expected in late January-early February.A...