Announcement Date: 2022-02-28
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Viva Gold Corp.
Project name: Tonopah
Location: United States
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: VANCOUVER, BC – January 25, 2022 – Viva Gold Corp. (TSX-Venture: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleased to provide an updated NI43-101 compliant mineral resource estimate for the Tonopah gold project (“Tonopah”), located near Tonopah, Nevada, on the prolific Walker Lane gold trend. The new resource estimate is based on the addition of 19 new drillholes completed in 2020 and 2021, updated geologic modelling and statistical analysis. “We are very pleased with these results. Total pit constrained measured and indicated gold resource increased 21% over prior estimates to 394,000 ounces with an additional inferred resource of 206,000 ounces, a 14% increase. Our 2020 and 2021 drill programs added 68,000 ounces of measured and indicated and 25,000 ounces of inferred resource at a cost of US$12.25/ounce. This demonstrates our ability to add ounces of new gold resource at Tonopah at a very low cost. More importantly, this recent drilling increased our understanding of the geometry of the currently defined Tonopah gold deposit and indicates that the mineralization remains strongly open, at relatively shallow depths, in at least two directions. Our near-term future focus will be to drill test these newly identified areas for further resource expansion,” states James Hesketh, President & CEO. The updated pit-constrained mineral resource estimate for the Tonopah Project follows:
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