Viva Gold Increases Land Position at its 100% Owned Tonopah Gold Project in Nevada
Viva Gold Corp. (TSX.V:VAU)(OTCQB:VAUCF) has expanded its Tonopah Gold Project in Nevada by staking an additional 69 unpatented lode mining claims, increasing its total land position to 513 claims or approximately 10,500 acres.
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Rhea-AI Summary
Viva Gold Corp. (TSX.V:VAU)(OTCQB:VAUCF) has expanded its Tonopah Gold Project in Nevada by staking an additional 69 unpatented lode mining claims, increasing its total land position to 513 claims or approximately 10,500 acres. No royalties are due on these claims. This expansion aims to enhance exploration potential along the northwest trend of gold mineralization and includes a mile of southern extension along the Rye Patch fault zone. A new drilling campaign is set to begin, supported by ongoing environmental and technical studies for a potential open-pit heap-leach mine feasibility study.
Positive
- Expansion of land position at Tonopah to 513 mining claims or 10,500 acres.
- No royalty interest is payable on the newly staked claims.
- A mile of southern extension added to the property, increasing gold mineralization potential.
- Commencement of a new drilling campaign this week.
Negative
- None.
Details
News Market Reaction – VAUCF
The recorded move for VAUCF in the trading session of this news was -2.68%.
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VANCOUVER, BC / ACCESSWIRE / July 19, 2021 / Viva Gold Corp. (TSX.V:VAU)(OTCQB:VAUCF) (the "Company" or "Viva") is pleased to announce that it has staked an additional 69 unpatented lode mining claims at its Tonopah Gold Project ("Tonopah"), located on the prolific Walker Lane mineral trend in Nevada. No royalty interest will be payable on these 69 claims under current mining law. These additional claims bring the total land position at Tonopah to 513 mining claims or approximately 10,500 acres (~4,250 hectares) of land and secures what is believed to be additional highly prospective ground along the principal northwest trend of gold mineralization at Tonopah, while also adding a mile of southern extension to the property along the Rye Patch fault zone where additional gold mineralization potential is believed to exist.
"These new claims add to the value of Tonopah by securing additional prospective ground for exploration, while also adding additional land to comfortably support feasibility study and permitting activities for a potential open-pit heap-leach mine. A new round of drilling operations at Tonopah will commence this week, while work is ongoing to advance environmental and technical studies required to support the planned feasibility study", states James Hesketh, President & CEO.
SOURCE: Viva Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/656023/Viva-Gold-Increases-Land-Position-at-its-100-Owned-Tonopah-Gold-Project-in-Nevada