SYS-CON MEDIA Authors: Yeshim Deniz, Pat Romanski, Carmen Gonzalez, Liz McMillan, Zakia Bouachraoui

News Feed Item

Vior Acquires the Tonya Gold Project in the Rye Patch Mineral Trend, Pershing County, Nevada

QUEBEC, CANADA -- (Marketwired) -- 03/02/18 -- SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE: VIO)(FRANKFURT: VL51) ("Vior" or the "Company"), is pleased to announce that it has acquired through its wholly owned subsidiary, Vior Gold (USA) LLC ("Vior USA"), the Tonya Gold Project ("Tonya" or the "Property") from Gold Range Company LLC ("Gold Range"). The agreement grants Vior the exclusive mineral rights to the Tonya Property, located 65 kilometers northeast of the town of Lovelock, in Pershing County, Nevada, USA. Vior has also just finalized an agreement to acquire all surface rights on the Property which will allow complete access for all future exploration, drilling and development work.

The Tonya Project is comprised of 71 claims for 501 hectares located in western Nevada at the north end of the Humboldt Range. The Humboldt mountain range forms the core of the Rye Patch Mineral Belt and is host to numerous gold deposits, mines and prospects, including the Florida Canyon Mine, 2.3 M oz. gold produced, the Coeur Rochester Mine, 1.65 M oz. gold and 148 M oz. silver produced, the Relief Canyon Mine and the recently discovered and developed Spring Valley Deposit.

The Tonya Project is in the early stages of exploration. Work completed to date includes some outcrop sampling, a local detailed soil survey and limited rotary drilling. The property has geological similarities to the nearby Florida Canyon and Standard mines, as it is also covered by the limestones of the Natchez Pass Formation and the argillites of the Grass Valley Formation, which host the mineralization in both deposits. The geochemical pathfinders in soils show clustered anomalies in gold, antimony and arsenic. Interpretation of the work to date indicates the Tonya Project represents the upper levels of an epithermal gold system similar to other gold deposits in the Belt. Some historical rotary drilling results suggest the potential for gold values to increase at depth.

Modern exploration work has been limited on the Tonya Project due to private ownership. Vior's plan is to evaluate previous data, conduct mapping, including rock chip sampling and soil analysis with the objective of identifying the best drill targets for its initial drilling program. The exploration program is planned to begin in early spring 2018.

Under the terms of the agreement, Vior USA will acquire from Gold Range the exclusive rights to exploration and development of the Tonya Project. Vior USA will pay an Advance Royalty in US dollars to Gold Range according to the following schedule:

--  US $10,000 has been paid on execution of the lease on August 9, 2017

On or before each of the following:

--  US $10,000 First Anniversary
--  US $10,000 Second Anniversary
--  US $15,000 Third Anniversary
--  US $15,000 Fourth Anniversary
--  US $25,000 Fifth Anniversary and on each Anniversary thereafter
    increasing by US $10,000 per year until commencement of commercial
    production, at which time the Advance Royalty will terminate.

Gold Range shall also retain a Production Royalty of 3% NSR. Vior USA will have the right to buy back up to 2% of the Production Royalty by paying Gold Range the sum of US $1,000,000 for each 1%.

Other news

A director of the Company participated in the private placement that closed on December 22, 2017 (see press release dated December 22, 2017) and subscribed for an amount of 100,000 Units representing an amount of $10,000. Participation of an insider of the Company in the private placement constitutes a "related party transaction" as defined under Regulation 61-101 - Respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101"). The private placement is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of securities being issued to the insider nor the consideration being paid by the insider exceeds 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of the insider of the Company had not been confirmed at that time.

About Vior

Vior is a junior exploration company whose corporate strategy is to generate, explore, and develop quality projects in the best proven and accessible mining regions. Through the years, Vior's management and technical team has demonstrated its ability to discover numerous gold deposits and other mineral prospects on its properties.

The technical content disclosed in this press release was prepared and approved by Mr. Marc L'Heureux, P.Geo., who is the Company's Qualified Person as per NI 43-101.

Website: www.vior.ca

SEDAR: Societe d'exploration miniere Vior inc.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Mark Fedosiewich
President and CEO
613-898-5052
[email protected]

Marc L'Heureux
Vice-president, Exploration
450-746-1771
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Most modern computer languages embed a lot of metadata in their application. We show how this goldmine of data from a runtime environment like production or staging can be used to increase profits. Adi conceptualized the Crosscode platform after spending over 25 years working for large enterprise companies like HP, Cisco, IBM, UHG and personally experiencing the challenges that prevent companies from quickly making changes to their technology, due to the complexity of their enterprise. An accomp...
Moving to Azure is the path to digital transformation, but not every journey is effective. Organizations that start with a cohesive, well-planned migration strategy can avoid common mistakes and stay a step ahead of the competition. Learn from Atmosera CEO, Jon Thomsen about the opportunities and challenges found in three pivotal phases of the journey to the cloud: Evaluation and Architecting, Migration and Management, and Optimization & Innovation. In each phase, there are distinct insights tha...
Public clouds dominate IT conversations but the next phase of cloud evolutions are "multi" hybrid cloud environments. The winners in the cloud services industry will be those organizations that understand how to leverage these technologies as complete service solutions for specific customer verticals. In turn, both business and IT actors throughout the enterprise will need to increase their engagement with multi-cloud deployments today while planning a technology strategy that will constitute a ...
Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software with the simplicity and reach of the open web. With staff in 10 timezones, Isomorphic provides a global network of services related to our technology, with offerings ranging from turnkey application development to SLA-backed enterprise support. Leadin...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...
Cloud is the motor for innovation and digital transformation. CIOs will run 25% of total application workloads in the cloud by the end of 2018, based on recent Morgan Stanley report. Having the right enterprise cloud strategy in place, often in a multi cloud environment, also helps companies become a more intelligent business. Companies that master this path have something in common: they create a culture of continuous innovation. In his presentation, Dilipkumar Khandelwal outlined the latest...