20:22:14 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Viva Gold Corp
Symbol VAU
Shares Issued 118,384,183
Close 2024-02-14 C$ 0.105
Market Cap C$ 12,430,339
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Viva Gold begins drilling at Tonopah

2024-02-15 11:14 ET - News Release

Mr. James Hesketh reports

VIVA GOLD STARTS DRILLING AT TONOPAH GOLD PROJECT, NEVADA

Viva Gold Corp. has commenced drilling at its Tonopah gold project. Tonopah is located on the prolific Walker Lane mineral trend in western Nevada, about 20 minutes' drive from the town of Tonopah.

The focus of this program will be to conduct both step out and infill drilling to support mineral resource development by offsetting the relatively shallow high grade gold zones discovered in our 2022/23 drill programs. Some of the prior drillhole intercepts that require additional drill hole support for resource definition include the following:

TG2211 intercepted a zone of 57.9 meters ("m') commencing at 40m depth averaging 5.0 grammes per tonnes gold ("gpt Au"), including 11m at 24.0 g/t Au

TG2209 intercepted a zone of 86.9m at 1.3 g/t Au starting at 87m depth, including 3.0m at 13.5 g/t Au, and 1.5m at 9.2 g/t Au

TG2219 intercepted 18.3m at 4.1 g/t Au starting at a depth of 73 m

TG2217 intercepted a zone averaging 5.0 g/t Au over 18.2 m, including 4.6 m at 14.7 g/t Au starting at 76 m depth.

TG2310 intercepted four zones of gold mineralization starting at 72m with a cumulative total of 48m at 1.9 g/t Au, including 23m at 3.5 gpt Au

TG2309 intercepted 46m at 1.2 gpt Au in three zones starting at 58m.

TG2318 intercepted 55m at 1.0 gpt Au starting at 38m, including 14m at 1.6 gpt Au and 4.6m at 4.2 gpt Au

These discoveries were typically related to splay fractures and lithology related controls. Other holes are designed to test undrilled gaps between known mineralized zones.

"We are excited to finally commence drilling at Tonopah after a series of weather-related delays. We expect to see initial assay returns from our drilling in approximately 4-5 weeks. These assays will be used in completing a new resource estimate for the project as a precursor to moving the project into feasibility study ", states James Hesketh, President & CEO.

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Qualified Person

James Hesketh, MMSA-QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.

About Viva Gold

The Tonopah project sits in the middle of gold mining country and controls a major land position on the prolific Walker Lane Trend in Western Nevada. Viva has consistently grown its resources since 2017 and has commenced a new, fully funded drill program to further define and grow the current resource base. The Company plans to update the resource model and initiate Pre-Feasibility Study in 2024, both of which are major catalysts and value creation events for shareholders.

Viva Gold is led by CEO Jim Hesketh, a 40-year veteran in the mining space who has led the development and construction of eight other mines around the world throughout his career. Jim has surrounded himself with equally experienced mining professionals both on the management team and the board.

The Tonopah Gold Project has all the hallmarks of a successful mining development project as key infrastructure is in place and is supported by compelling economic studies.

We seek Safe Harbor.

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