VANCOUVER, BC – TheNewswire – December 8, 2022 – Viva Gold Corp. (TSXV:VAU) (OTC:VAUCF) (the “Company” or “Viva”) is pleased to provide additional assay results from the recently completed Reverse Circulation (“RC”) drill program at its Tonopah gold project (“Tonopah”) located on the prolific Walker Lane mineral trend, western Nevada. A total of 16 drillholes have been completed in this program and submitted for assay. This release details results from eight drill holes in addition to results from six holes previously released on November 28, 2022 (click here to see previous news release).
Highlights
TG2218, which intercepted 1.5 m at 9.2 g/t Au at 30 m depth and was drilled from the same collar as TG2217. These two holes are likely to upgrade this zone to an indicated level, while also increasing grade.
“This has been our most successful drill program in the last four years. These drill results, in conjunction with those previously reported, are clearly demonstrating the near-surface, high-grade nature of this deposit, as well as the potential to increase the contained gold resource to both the north and south along the main east-west trend of the deposit. These strong assay results, combined with the very positive conclusions from our metallurgical testwork program, announced October 2022, supports both the need for additional drilling and for moving this project rapidly through an updated PEA study and into feasibility work.” stated James Hesketh, President & CEO.
Additional Drilling Notes
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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 Corp:
Viva Gold Corp’s (TSX-V: VAU; OTCQB: VAUCF; Frankfurt :7PB) principal asset is its 100% ownership in the Tonopah Gold Project (Tonopah), a large land position on the world class Walker Lane Mineral Trend in western Nevada, located about 30 minutes’ drive southeast of the Kinross Round Mountain gold mine. The project is well advanced with a positive Preliminary Economic Assessment (PEA) describing a potential open pit, heap leach gold recovery operation and a pit confined measured and indicated gold mineral resources containing 394,000 ounces at 0.78 grams/tonne and 206,000 ounces of Inferred resource at 0.87 grams/tonne. The PEA, amended April 22, 2022, can be viewed here. The principal mineral trends on the property remain open for extension and the company has a track record of steadily increasing gold resource over the last four years. Viva is building market awareness as it advances Tonopah towards feasibility study and permitting and has made a significant commitment to ESG and de-risking the project through open community disclosure and near completion of a number of baseline environmental and technical studies.
Viva has a solid capital structure with 91.6 million shares outstanding and a strong management team and board who can claim both gold exploration and production experience. For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
jhesketh@vivagoldcorp.com
Anne Hite, Director Investor Relations
(303) 519-5149
ahite@vivagoldcorp.com