Viva’s immediate goal for Tonopah is to expand contained gold resources to over 1.0 million ounces through step-out drilling along structures, between existing zones and to depth.
Acquired by Viva in a 2017 court sale at the cost of assumption of bond liabilities and minimal cash, Viva gained a major land position on the prolific Walker Lane Trend in Western Nevada and a wealth of data and drill holes that demonstrate high-grade gold in the ground. Transaction allowed Viva to re-negotiate royalty structures, reduced from an untenable sliding-scale 7% NSR to a 2% NSR with a 1% buyout option, allowing Viva to evaluate Tonopah as a low strip ratio, open pit project.
Viva Gold Announces Private Placement - April 3, 2019
Viva Gold Announces Edward Mahoney as Director - March 20, 2019