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Viva Gold Corp.

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Summary

Project:

Tonopah

Deposit:Tonopah
Location:United States
Commodities:Gold
Date:6/12/2020
Report Code:NI43-101
Report Type:PEA
Project Stage:Pursuing Resource Increase/Upgrade
Report details:12-6-2020: Viva Gold Corp. announces a PEA report for its Tonopah deposit at the Tonopah project. PEA results incl. post-tax NPV (5%) of US$36.3M & IRR of 22%. The Tonopah Property as planned in this report has a project life of 8 years, consisting of 2 y
Resources:(Resources, M+I): 12.83Mt @ 0.79g/t Au (326koz Au)
CP/QP:[Resource] Thomas Matthews (Gustavson Associates LLC)
ABSTRACT:The Tonopah Property as planned in this report has a project life of 8 years, consisting of 2 years of preproduction, 5 years of mining and heap stacking, and one year of final gold recovery, pad rinsing and reclamation work. Mining will be done using traditional, open pit surface mining techniques. Lerchs-Grossmann Pit optimization analysis was performed on the resource model. Using initial estimates of the project and financial parameters an optimization was run and a pit shell was selected to guide the design of open pit. The $1,230/oz Au shell was selected as the basis for the mine design. This particular shell captures most of the value of the project while minimizing the mining of marginally economic material. A three phased pit was designed, Figure 1-2, and material movements scheduled. The mine schedule is then used to develop costs and the cost model used in the financial analysis. The mine schedule targets approximately 2.5 million tonnes of mineralization per year

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