Viva has developed a quality resource at the Tonopah project containing over 250,000 ounces of pit-constrained measured and indicated gold resource with substantial additional inferred resource. In addition, Viva has outlined exploration targets on major trends at the property, which, if successfully drilled, should achieve the goal of significantly increasing the size of the project.
Acquired by Viva in a 2017 court sale at minimal cost, the Tonopah project consist of a major land position on the prolific Walker Lane Trend in Western Nevada with a wealth of data and drill holes that demonstrate high-grade gold in the ground. The transaction allowed Viva to re-negotiate royalty structures which were reduced from an untenable sliding-scale 7% NSR to a 2% NSR with a 1% buyout option, allowing Viva to evaluate Tonopah with new economic criteria as an open pit project
Viva Gold Announces Repricing of Private Placement - May 23, 2019
Viva Gold Announces Private Placement - April 3, 2019