Final Assay Results from Viva Gold’s 2023 RC Drill Program at Tonopah Gold Project, Nevada including 59 meters at 1.9 gpt Au starting at 24 meters.
NR 23-12
Final Assay Results from Viva Gold’s 2023 RC Drill Program at Tonopah Gold
Project, Nevada including 59 meters at 1.9 gpt Au starting at 24 meters.
VANCOUVER, BC – July 24, 2023 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF) (the
“Company” or “ Viva”) is pleased to provide the final as say results from the 18-hole, 2,167-meter 2023
reverse circulation (“RC”) drilling program at its 100%-owned Tonopah gold project (“Tonopah”) . Assay
results from the first seven holes of the program were announced on June 6, 2023. Tonopah is located on
the prolific Walker Lane mineral trend in western Nevada , about 20 minutes’ drive from the town of
Tonopah.
“Our 2022 and 2023 drilling programs have been very successful at extending, confirming and discovering
new, shallow, high -grade zones of gold mineralization at our Tonopah gold project. Most of the new
intercepts are within the limits of the resource pit shell as defined in our 2022 Preliminary Economic
Assessment1 (“PEA”). These results are very likely to increase the size of the previously identified high-
grade starter pit zone for early mining, increase overall contained ounces and reduce stripping ratio for
the project. These assay results will be incorporated into in our updated PEA and mineral resource
estimate for the project which is currently underway as announced on May 18, 2023. Viva is hosting
awebinar call to discuss these results on July 27, 2023 at 11:00am Eastern Time . See below for call
details,” stated James Hesketh, President & CEO.
2023 RC Program Highlights
• TG2318 intercepted 55 meters (“m”) at 1.0 grams per tonnes gold (“gpt Au”) starting at 38m,
including 14m at 1.6 gpt Au and 4.6m at 4.2 gpt Au. TG2318 was drilled perpendicular, in a near
westerly direction, from the collar of drillhole TG2211, which intercepted 57.9m at 5.0 g/t Au
from 40m (see January 2023 release), demonstrating the potential width of this shallow, high-
grade zone of gold mineralization. This zone remains largely open in the western dimension
where the next hole on the south side of the main deposit is over 180 meters to the west.
• TG2311 intercepted three zones of shallow, high-grade gold mineralization starting at 24m with
a cumulative total of 59m at 1.9 gpt Au. The zones included 9m at 2.4 gpt Au; 9m at 3.0 gpt Au;
and 41m at 1.5 gpt Au. TG2311 was dilled as an infill hole in a 50-to-100m waste gap in the
original Discovery Zone structure.
• 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. TG2310 tested the northern extent of the same
structural splay where TG2211 intercepted 57.9m at 5.0 g/t Au from 40m.
• TG2309 intercepted 46 meters at 1.2 gpt Au in three zones starting at 58m. TG2309 tested the
northern extent of a same structural splay where TG2209 intercepted 86.9 meters at 1.3 gpt Au
starting at 87m depth (see January 2023 release).
Better definition of deposit boundaries was gained in the following drill holes:
• TG2308 tested a poorly drilled zone to the west of the TG2209 structural splay resulting in
several low-grade intercepts and one vein of 1.5m at 4.2 gpt Au.
• TG2316 & TG2317 confirmed the southern limit of the TG2211 structural splay. Approximately
100 meters of strike length containing near-surface high-grade gold mineralization was added to
this zone as a result of the 2022 and 2023 drilling programs.
• TG2315 tested the southern limits of the TG2209 structural splay with one 4.6m intersection
grading 2.5 gpt Au starting at 85m, indicating the possible southern limit of that structural splay.
• TG2314 tested the southern extent of a north-south structural splay in the west end of the main
pit and intersected only a narrow low-grade interval, indicating the potential southern limit to
mineralization in that area.
The Tonopah gold project has two distinct populations of gold mineralization: a high -grade population
(>1.0 gpt Au) associated with structural splays and brecchias and a second population of lower -grade
disseminated gold mineralization associated with lithologic contact zones and favorable bedding horizons.
Our 2022 and 2023 RC drill programs at Tonopah focused on defining the limits of the series of
approximately north-south mineralized, structurally controlled, fault splays and brecchias that occur in
parallel along a primary east -west strike (azimuth ~110 degrees) of approximately 1.2 to 1.4 kilometers.
The north-south splays individually have strike lengths of up to 3 00 meters, with mineralization starting
as shallow as 10 meters depth under valley floo r gravels. These mineralized structural splay s create the
width dimension for a potential open pit at Tonopah. Increasing this wi dth dimension develops a more
minable open pit and is also likely to help reduce strip ratio, the ratio of mineralized material to waste
material.
The company will be hosting a live webinar to discuss the recent results details below.
When: Jul 27, 2023 11:00 AM Eastern Time (US and Canada)
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_RXO0xub_Q56t1ZDylySKHQ
After registering, you will receive a confirmation email containing information about joining the
webinar.
A replay will be posted to Viva Gold’s website.
Hole Azimuth Dip From To Length Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne Gram/Tonne
TG2318 250 -75 110
38 93 54.9 1.0 6.1 Tvl/Opa Drilled perpendicular
including 44 58 13.7 1.6 12.4 Tvl/Opa from TG2211 collar
including 58 62 4.6 4.2 8.1 Opa provide width of splay
TG2311 90 -75 122
24 34 9.1 2.4 7.2 Tvl/Opa Infill in Disovery Zone
including 26 27 1.5 9.5 1.5 Tvl/Opa 50-100M gap carried
49 58 9.1 3.0 4.2 Opa as waste in 2022 resource
including 49 50 1.5 15.7 12.4 Opa model
70 111 41.1 1.5 3.1 Opa
including 107 110 3.0 10.4 4.0 Opa
TG2310 210 -70 198
72 94 22.9 3.5 3.6 Tvl
including 73 75 1.5 6.9 3.9 Tvl Infill hole on north
including 78 84 6.1 6.8 6.4 Tvl central pit zone carried
98 113 15.2 0.5 0.6 Tvl as waste in 2022 resource
117 126 9.1 0.7 1.7 Tvl model
133 134 1.5 1.0 2.1 Tvl
TG2309 190 -70 198
58 62 4.6 0.7 8.1 Tvl Step-out on
94 122 27.4 1.6 3.1 Tvl North Extension
including 94 98 3.0 10.7 9.5 Tvl TG 2209 splay
146 160 13.7 0.7 1.5 Tvl
TG2308 0 -90 152
114 117 3.0 0.4 1.1 Tvl Infill West of
133 136 3.0 0.3 2.5 Opa TG 2209 splay in zone
146 148 1.5 4.2 3.3 Opa carried as waste in model
TG2312 350 -80 250
104 107 3.0 0.7 3.5 Tvl North Step-Out
146 155 9.1 0.3 2.4 Tvl West Main Pit
169 172 3.0 0.3 3.0 Tvl Waste Conversion
183 186 3.0 0.4 3.1 Tvl/Opa
TG2313 0 -90 171
116 117 1.5 0.4 1.4 North Step-Out
West Main Pit
TG2314 0 -90 201
149 152 3.0 0.3 3.5 Tvl/Opa Test South extension
west end main pit
TG2315 140 -75 91
47 49 1.5 0.3 6.5 Test SE extent of
85 90 4.6 2.6 3.9 TG2209 structurall splay
Drill Results 2023 Reverse Circulation Drilling Program
Hole Azimuth D ip From To Length Gold Grade Silver Grade Rock Type Comment
Meter M eter Meter Gram/Tonne Gram/Tonne
TG2316 210 -75 114
87 90 3.0 0.3 5.3 Opa Step-Out south west
end TG2211
structural splay
TG2317 170 -75 91
62 67 5 0.3 2.4 Opa Step-out south-east
end TG2211
structural splay
Announced June 6, 2023
TG2307 55 -60 152
79 90 10.7 0.5 2.7 Tvl & Opa
93 143 50.3 0.9 3.6 Tvl & Opa
including 116 119 3.0 2.8 5.1 Opa 47m Offset TG2209
including 125 130 4.6 3.2 3.8 Opa East Main Pit
including 140 143 3.0 3.1 3.6 Opa
149 151 1.5 1.1 2.0 Opa
TG2306 0 -90 117
35 38 3.0 0.5 16.4 Opa 47m Offset TG2209
59 70 10.7 0.5 6.8 Opa East Main Pit
TG2305 0 -90 122
35 37 1.5 0.4 1.5 Opa
47 52 4.6 0.3 2.5 Opa North Step-Out
88 90 1.5 0.4 1.4 Opa Infill
107 108 1.5 0.8 1.5 Opa East Main Pit
TG2304 340 -75 140
52 58 6.1 0.8 3.8 Opa Infill South-East
122 123 1.5 0.8 3.2 Opa East Main Pit
139 140 1.5 0.3 4.0 Opa
TG2303 120 -80 53.0
NSS NSS Hole lost @ 53m
40m offset TG2211
TG2302 340 -75 125
44 59 15.2 0.5 3.1 Tvl/Opa 40 meter step-out
72 105 33.5 1.4 4.0 Opa south from TG2211
including 85 94 9.1 3.9 5.9 Opa East Main Pit
TG2301 60 -60 165.0
110 116 6.1 0.8 2.2 Tvl/Opa North side TG2211
Contact Trend
East Main Pit
Tvu = Upper Tertiary Volcanic Cutoff Grade: 0.25 Au Eq g/t
Tvl = Lower Tertiary Volcanic
Opa = Ordovician Palmetto Argillite
NSS = No significant sample
Drill Results 2023 Reverse Circulation Drilling Program
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 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 1) describing a
potential open pit, heap leach gold recovery operation and a pit confined measured and indicated gold
mineral resource s containing 394,000 ounces at 0.78 grams/tonne and 206,000 ounces of Inferred
resource at 0.87 grams/tonne. Viva has announced that it has commenced a second PEA study to include
results from approximately 40 additional drillholes completed in 2022 and 2023, the results of a dditional
metallurgical gold recovery studies, and substantial information gained from its ESG focus of completing
and advancing environmental and technical baseline study for the project.
Viva has 106.7 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
Graham Farrell, Harbor Access
(416) 842-9003
1) 2022 PEA: NI43-101 Technical Report, Preliminary Economic Assessment of the Tonopah Project (amended April 12,
2022) authored by Gustavson Associates including Donald E. Hulse, P.E., SME-RM; Christopher Emanuel, SME-RM;
Deepak Malhotra, Ph.D., SME-RM; and Edward Bryant, AIPG, CPG
Forward-Looking Information:
This news release contains certain information that may constitute forward-looking information or
forward-looking statements under applicable Canadian securities legislation (collectively, “forward-
looking information”), including but not limited to drilling operations and estimates of gold mineral
resource at the Tonopah Gold Project. This forward-looking information entails various risks and
uncertainties that are based on current expectations, and actual results may differ materially from those
contained in such information. These uncertainties and risks include, but are not limited to, the strength
of the global economy, inflationary pressures, pandemics, and issues and delays related to permitting
activities; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted
drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the
degree to which factors which would make a mineral deposit commercially viable are present; the risks
and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital
requirements. Risks and uncertainties about the Company’s business are more fully discussed in the
Company’s disclosure materials filed with the securities regulatory authorities in Canada available at
www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any
forward-looking information or to update the reasons why actual results could differ from such
information unless required by law.
Cautionary Note to Investors --- Investors are cautioned not to assume that any "measured mineral
resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this
news release are or will be economically or legally mineable. United States investors are cautioned that
while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources", investors should not assume that any part or all of the mineral deposits in these
categories will ever be converted into a higher category of mineral resources or into mineral
reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under
Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-
feasibility studies, except in limited circumstances. Further, "inferred mineral resource s" have a great
amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be
assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category.
The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance
can be given that the anticipated tonnages and grades will be achieved or that the indicated level of
recovery will be realized.
Neither 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.