Drill results demonstrate that the Tonopah gold system is large in size, but structurally complex. Over 500,000 ounces of in-place gold mineralization has been discovered and outlined and Viva believes that the Tonopah deposit has the potential to be significantly larger in size. Positive PEA results indicate that the project may be potentially feasible to develop with additional work and the results support continued investment. A two part work plan has been developed:
Part A, Development Focus: the next phase of work will include 3,000 to 4,000 feet of drilling targeted to infill gaps in the geologic model to reduce strip ratio in the pit designs by converting waste to mineralization; convert inferred resources to indicated; and to further expand inferred resource at the margins of the geologic model through step-out drilling. Work would also commence on long lead time studies including baseline water sampling, hydrology, rock characterization tests, and additional metallurgical testwork as a basis for commencing detailed feasibility study and development permitting.
Part B, Exploration Potential: This work would include detailed structural analysis of the project area to better define the locations of structural junctions and the potential for intercepting addition areas of high-grade mineralization. This phase would include follow-up field programs including close spaced geophysical studies and drilling when possible.
The proposed work plans, are expected to cost between US$2.5 and $3.5 million over the next 12 to 18 months.