Initial Assay Results from Viva Gold’s Tonopah Gold Project, Nevada
NR 24-03
Initial Assay Results from Viva Gold’s Tonopah Gold Project, Nevada
VANCOUVER, BC – April 9, 202 4 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF ) (the
“Company” or “Viva”) is pleased to provide initial assay results for three holes from the recently
completed 10-hole, 1,515-meter reverse circulation (“RC”) drilling program at its 100%-owned Tonopah
gold project (“Tonopah”). Tonopah is located on the prolific Walker Lane mineral trend in western Nevada,
about 20 minutes’ drive from the town of Tonopah.
These first three RC holes were drilled to offset widely spaced gold intercepts from our 2022 and 2023
drill programs on the north side of the 2022 Preliminary Economic Assessment (“PEA”) main pit area, an
area that had previously been considered waste in the resource model. All gold (“Au”) and silver (“Ag”)
intercepts in these first three holes were in tertiary volcanics.
Highlights
• TG2401 intercepted 50.5-meters (“m") starting at 40m averaging 0.68 grams per tonne Au (“gpt
Au”) and 3.0 gpt Ag, including two higher grade zones of 10.7m at 1.54 gpt Au starting at 40-m
and 4.6 m at 1.47 gpt Au starting at 69m. TG2401 was drilled due west from the collar of
TG2212 (21.3m at 0.5 gpt Au, including 7.6m at 1.3 gpt Au) towards hole TG2210 (38m
averaging 0.8 g/t Au starting at 18m depth).
• TG2403 intercepted 18.3m at 0.6 gpt Au and 5.8 gpt Ag commencing at 64m including 3m at
1.37 gpt Au and 4.1 gpt Ag. TG2402 intercepted 4.6m at 0.5 gpt Au and 1.5 gpt Ag starting at
52m. TG2402 and TG2403 were each drilled in a western direction 40m to the north and south
respectively of TG2310 (four zones with a cumulative total of 48m at 1.9 gpt Au, including 23m
at 3.5 gpt Au starting at 72m).
“We are very pleased with these initial results. These first three holes, when combined with prior wide-
spaced drilling, potentially create strong grade continuity on the northeastern side of the resource pit
shell defined in our 2022 PEA. This area had only been sparsely drilled in the past and was previously
described as containing primarily waste material in the model. Additional infill and step-out drilling in
this area of the project is clearly justified,” stated James Hesketh, President & CEO.
Note : UTM NAD 83, zone 11
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:
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 James 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.
Hole Azimuth Dip From To L ength Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne G ram/Tonne
TG2401 270 -70 105
40 90 50.3 0.7 3.0 Tvl Offset TG2210 and TG2212
including 40 50 10.7 1.5 6.3
including 69 73 4.6 1.5 2.9
TG2402 270 -70 128
52 56 4.6 0.5 1.5 Tvl 40m Offset S of TG2310
TG2403 270 -70 128
64 82 18.3 0.6 5.8 Tvl 40m Offset N of TG2310
including 76 79 3.0 1.37 4.10
Tvu = Upper Tertiary Volcanic Cutoff Grade: 0.25 Au Eq g/t
Tvl = Lower Tertiary Volcanic
Opa = Ordovician Palmetto Argillite
NSS = No significant sample
Initial Drill Results 2024 Reverse Circulation Drilling Program
Drill Hole Actual t Actual Actual Actual Actual Actual
Number Depth m t E N Az Dip Elev. m
TG2401 105 # 493,827 4,234,556 270 -70 1774
TG2402 128 # 493,903 4,234,509 270 -70 1772
TG2403 128 # 493,908 4,234,548 270 -70 1772
Please reach out and get to know us as 2024 is shaping up to be a transformational year.
Viva Gold trades on the TSX Venture exchange “VAU”, on the OTCQB "VAUCF" and on the Frankfurt
exchange "7PB". Viva currently has ~118.4 million shares outstanding and boasts a best-in-class
management team and board with decades of both gold exploration and production experience. The
Company is advancing its high-grade Tonopah Gold Project in mining friendly Nevada with the support
of several institutional shareholders. More information can be found on https://www.Sedar.Com and
please visit our website: www.vivagoldcorp.com.
Viva is committed to developing the Tonopah Gold Project in an environmentally and socially
responsible fashion. These values are aligned with management’s core values and permeate throughout
our decision-making process.
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 resources" 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.