Viva Gold Announces Additional High-Grade Drill Results at its Tonopah Project Including 1.5 Meters at 19.2 grams/ton Gold
NR 18-9
Viva Gold Announces Additional High-Grade Drill Results at its Tonopah
Project Including 1.5 Meters at 19.2 grams/ton Gold
VANCOUVER, BC – July 23, 2018 – Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF)
(the “Company” or “Viva”) is pleased to announce additional assay results from the recently completed 11
hole Reverse Circulation (“RC”) drill program at its Tonopah Gold Project, located near Tonopah, Nevada.
Drill Result Highlights
TG 1810 - 1.5 meters at 5.68 grams/tonne (“g/t”) included in 15.3 meters averaging 1.21 g/t
TG 1812 – 1.5 meters at 19.2 g/t included in 10.7 meters averaging 3.07 g/t
TG 1815 – 1.5 meters at 8.79 g/t included in 13.7 meters averaging 1.64 g/t
TG 1810 was drilled from the west at -65 degrees into the Discovery zone and represented a 15 to 20 meter
step-out from the nearest drill holes. This hole successfully extended the western limits of that zone. TG
1812 was drilled at an angle of -75 degree as a 30 to 35 meter step-out to the north end of the potluck zone
into an area of limited drilling. This hole was a successful infill hole between known zones. TG 1815 was
drilled at an angle of -70 degrees as a 15 to 20 meter step-out on the north end of the 63-77 zone and was
successful in further extending that zone. The interaction between high angle and low angle mineralization
geometries is difficult to decode for individual drill holes. However, these holes are targeted to crosscut
the low-angle mineralized zones while remaining as perpendicular as possible to high-angle extensional
zones. Downhole lengths are believed to be representative of true thickness for the low-angle zones.
“These drill holes represent judicious step-outs from known zones and into areas that require further in-fill
drilling to either connect or extend various mineralized zones. In addition, these results further demonstrate
the inherently high-grade nature of the system and that zones of low grade mineralization surround the
higher-grade zones highlighted above. We have further clarity and confidence that our goal of increasing
the contained gold resource to over 1.0 million ounces is achievable”, states James Hesketh, President &
CEO.
Viva expects to receive assay results for drill holes TG 1809, TG 1811, TG 1813 and TG 1814 over the
next few weeks. As announced on April 26th, 2018 Viva Gold plans to drill 28 holes in total for the project,
with the remaining 17 holes in the program to be drilled later this year.
Tonopah Project
Drill Results for 2018 RC Drill Program
Depth Uncapped Capped*
Hole From To Length Gold Grade Gold Grade
Meter Meter Meter Gram/Tonne Gram/Tonne
TG 1815 68.6 82.3 13.7 1.64 1.64
including 77.7 79.2 1.52 8.79 8.79
TG 1812 89.9 100.6 10.7 3.07 3.07
including 89.9 91.4 1.5 19.2 19.20
and 112.8 120.4 7.6 0.37 0.37
TG 1810 91.4 106.7 15.3 1.21 1.21
including 96 97.5 1.5 5.68 5.68
and 121.9 125 3.1 0.35 0.35
and 129.5 132.6 3.1 0.57 0.57
Drill holes previously announced on July 9, 2018
TG 1808 54.9 57.9 3.0 0.5 0.5
and 64.0 73.2 9.1 25.4 5.8
including 65.5 67.1 1.5 138.0 20.0
including 70.1 71.6 1.5 8.9 8.9
and 83.8 89.9 6.1 0.4 0.4
and 97.5 102.1 4.6 5.5 5.5
Including 99.1 100.6 1.5 14.9 14.9
and 108.2 120.4 12.2 1.2 1.2
and
and TD 123.4 125.0 1.5 0.6 0.6
All zones 54.9 125.0 70.1 3.9 1.4
TG 1807 10.7 19.8 9.1 0.3 0.3
and 35.1 74.7 39.6 2.0 2.0
Including 59.4 68.6 9.1 4.5 4.5
and 80.8 83.8 3.0 0.4 0.4
and TD 93.0 94.5 1.5 0.4 0.4
All zones 10.7 94.5 83.8 1.0 1.0
TG 1806 21.3 29.0 7.6 0.3 0.3
and TD 71.6 74.7 3.0 0.7 0.7
TG 1805 38.1 39.6 1.5 0.5 0.5
* Capped at 20 grams/tonne
0.25 gram/tonne used throughout
The Tonopah property contains a near-surface low-sulfidation epithermal gold system which includes near
vertical quartz-adularia-gold veins hosted by the Palmetto Formation argillite and the overlying Tertiary
rhyolitic volcanics within a low-angle zone of mineralization which includes and often parallels an erosion
surface discontinuity at the top of the Palmetto. Mineralization has been identified in a series of north -
striking extensional structural zones within an overall mineralized trend along the north-northwest Walker
Lane trend, covering an area over 2,000 meters long and 300 meters wide.
All technical information which is included in this statement has been reviewed and approved by Thomas
C. Matthews of Gustavson Associates LLC. Mr. Matthews is independent of the Company and a qualified
person, pursuant to the meaning of such terms in National Instrument 43-101 Standards of Disclosure for
Mineral Projects. The basis for the 0.25 g/t cutoff grade utilized for this release are based on technical
analysis documented in the March 27, 2018 NI43-101 Technical Report on Mineral Resources, Tonopah
Project, Nye County, Nevada.
Viva Gold is a gold exploration and development company with a focus on Nevada. 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
Valerie Kimball, Director Investor Relations
(720) 933-1150
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 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; 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. Ri sks 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 U.S. Investors --- The United States Securities and Exchange Commission permits U.S. mining
companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and
legally extract or produce. We use certain terms in this report, such as "measured," "indicated," "inferred," and
"resources," that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with
the SEC.
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.