Viva Gold Corp. [TSXV: VAU; OTCQB: VAUCF] has staked an additional 36 unpatented mineral lode claims at its 100%-owned Tonopah Gold Project, located near the town of Tonopah, Nevada.
These claims cover approximately 720 acres (291 hectares) of land immediately northwest of Tonopah and were located to cover an area outside of the existing claim block identified, through third party review, as being highly prospective for gold exploration.
Viva has begun work on a field program to complete an additional 14,000 metres of CSAMT (controlled-source audio-frequency magnetotelluric) geophysical survey, a controlled-source electromagnetic method used to map subsurface resistivity associated at Tonopah with potential silica emplacement during gold deposition. CSAMT has been one of the major tools used in identifying gold potential at Tonopah.
Viva has also received approval from the U.S. Bureau of Land Management for 23 new drill sites in and around the PEA (preliminary economic assessment) design pit area of the Tonopah project and at the Midway Hills prospect area, located approximately 1.4 km northwest of the main pit area.
Drilling is expected to start later this month, with a focus on converting the remaining high-grade inferred mineral resource in the PEA pit area to the measured and indicated category in preparation for feasibility study work, while also performing stepout drilling on known mineral extension potential around the pit area, with additional holes to test targets at the Midway Hills prospect area of the project.
Jim Hesketh, President and CEO, stated: “With new claims staked, additional drill permits approved and fieldwork under way, we’re accelerating the Tonopah gold project toward permitting and development. Nevada is one of the world’s premier mining jurisdictions, and projects that advance through permitting often see meaningful market reratings. We believe Tonopah is well positioned to deliver that value for our shareholders.”
Viva Gold’s Tonopah gold project sits in the middle of gold mining country about a half-hour drive south of the Round Mountain mine, owned by Kinross Gold, and controls a major land position on the prolific Walker Lane trend in western Nevada.
Viva has developed a high-confidence-level gold mineral resource and can demonstrate the potential for an economically viable open-pit, heap-leach/mill gold project through a rigorous PEA study.
Viva Gold is led by CEO James Hesketh, a 40-year veteran in the mining space who has led the development and construction of eight other mines around the world throughout his career. Hesketh has surrounded himself with equally experienced mining professionals both on the management team and the board.
Viva Gold currently has approximately 172 million shares outstanding.
Source: Resource World Magazine – Read More
