Viva Gold Announces Final Assay Results from 2022 RC Drill Program and Provides Update on Status of Tonopah Gold Project, Nevada
NR 23-02
Viva Gold Announces Final Assay Results from 2022 RC Drill Program and Provides
Update on Status of Tonopah Gold Project, Nevada
VANCOUVER, BC – January 17, 2022 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF ) (the
“Company” or “Viva”) is pleased to provide final assay results from its 2022 16-hole, 2,457-meter reverse
circulation (“RC”) drilling program at its 100%-owned Tonopah gold project (“Tonopah”) and to provide
an update on the status of work at the project. Fourteen of the 16 holes were previously released on
November 28 and December 8, 2022 (click here to see previous news releases). Tonopah is located on the
prolific Walker Lane mineral trend in western Nevada
2022 RC Program Highlights
• TG2221 intercepted 1.5 meters (“m”) at 3.0 grams per tonne gold (“g/t Au”) in a zone of lower
grade at a depth of 155 m as a step -out to the west of the south pits and south of the main pit
area, indicating the potential presence of a new high -grade zone and extension to the south pit
trend.
• TG2219 intercepted 18.3 m grading 4.1 g/t Au starting at a depth of 73 m
• TG2218, encountered 1.5 m at 9.2 g/t Au at 30 m depth
• TG2217; 5.0 g/t Au over 18.2 m, including 4.6 m at 14.7 g/t Au starting at 76 m depth
• TG2214 hit a zone of 4.6 m averaging 21.4 g/t Au starting at a depth of 111 m
• TG2212 intercepted 21.3 m at 0.5 g/t Au, including 7.6 m at 1.3 g/t Au
• TG2211 intercepted a zone of 57.9 m at 5.0 g/t Au from 40 meters depth, including 11m at 24.0
g/t Au which included 3 m at 53.6 g/t Au
• TG 2010 intercepted three zones totaling 38 m at 0.8 g/t Au starting at 18m depth
• TG2209; 86.9 m at 1.3 g/t Au starting at 87m depth, including 3.0 m at 13.5 g/t Au, and 1.5 m at
9.2 g/t Au
“In 2022, we were able to significantly advance Viva’s Tonopah Gold project towards feasibility . We
discovered new areas of high -grade (+1.0 g/t Au) gold mineralization at shallow depths within the
perimeter of the 2022 resource pit shell limits, and extended existing zones of high-grade mineralization
both inside and outside the 2022 resource pit limits . This work demonstrated that the main deposit
remains open in several north-south mineralized corridors along its 1.5 kilometers strike length . New
discoveries in our recent drill program increased the width of mineralization up to 200 meters in some
areas. Our work in 2022 substantially enhanced our understanding of the structural and lithologic controls
of the deposit, which has allowed us to significantly improve ou r drill targeting success rate. Significant
progress has also been made on optimizing gold recovery and we can now demonstrate a process route
to increase gold recovery from our high-grade gold mineralization. Our baseline environmental study work
is also well a dvanced and we believe that we have substantially de -risked the project for future
development. In these programs we have already completed a number of critical steps required to
complete feasibility study. Our plan for 2023 is to conduct additional drilling to follow-up on our successful
2022 drill programs, determine the limits of mineralization in the main pit area, and to rapidly move the
project into feasibility study,” stated James Hesketh, President & CEO.
Update On Resource Modelling
• The resource model for the Tonopah deposit is presently being updated to include results from
22 drill holes completed in 2022. This information includes six core holes totaling 1,307 meters
and 16 RC holes totaling 2,457 meters
• The resource model has been significantly improved by consolidating lithologic codes for the
entire drillhole database and the inclusion of structural information captured from over 35
oriented core holes. These enhancements to the model were instrumental in helping to improve
drill-hole targeting and resulted in a very successful RC drill program.
• Previous iterations of the Tonopah resource model only included gold assays. The database has
now been improved with the addition of total gold and silver assays, as well as cyanide soluble
gold and silver assays. The additional metal assays were extracted from assay sheets produced
by Rio Algom, Kennecott, Newmont, Midway Gold and Viva. This additional assay data will help
to quantify silver content in the deposit, as well as aid in quantifying potential recoverable gold
and silver values in the deposit.
• Tonopah was flown by drone in 2022 to produce detailed topographic mapping of the project for
use in resource modelling, feasibility study and permitting efforts.
Update on Metallurgy
• Initial pulp agglomeration testwork was completed, which demonstrated a gold recovery of 91%
from high-grade (+1.0 g/t Au) mineralization in the deposit. This increased gold recovery may be
applicable to approximately 50% of g old resource at Tonopah. This process incorporate s three-
stage crushing for all gold mineralization mined including low-grade (+0.15 g/t Au to 1.0 g/t Au)
mineralized material. High-grade goes through an extra grinding and tank leach step for initial
gold recovery. Dewatered pulp from the tank leach, where up to 70% of the gold is recovered, is
blended with low-grade crushed material and agglomerated with cement for final placement on
the leach pad to complete the gold recovery process. Gold recovery for low -grade mineralized
material is estimated from testwork to be approximately 70%.
• Additional crushing, tank leach, and column leach tests are underway to further confirm and
validate these results.
Update on Baseline Environmental Studies
• Wildlife and plant studies were completed and submitted to the BLM for review. We believe
that no material red-flag issues for the project were discovered in this work;
• Quarterly baseline water sampling and analysis have been consistently performed at the project
over the last two years;
• Four quarters of baseline study have now been completed on water samples from natural seeps
and springs within a 10-mile radius of the project;
• One water well and two upstream monitoring wells were drilled and completed and 5 wireline
piezometers were installed in abandoned exploration drillholes on the property for use in
aquifer sampling and modeling around the Tonopah deposit;
• In December 2022, a seven-day aquifer pump test was completed to test hydraulic flow rates in
the valley floor alluvial formation over the deposit. Pump down tests were previously completed
in the hard rock formations, below the alluvial cover. This information will be utilized in baseline
hydraulic aquifer modelling.
• Geochemical studies of potential ore and waste materials is 80% to 90% complete. A total of 10
Humidity Cell Tests were initiated to test for release of acid and other deleterious elements and
8 of the 10 tests have been declared complete and released by the BLM. The two remaining tests
are expected to be completed in early 2023. No unusual deleterious results have been seen.
Other Work Completed
• A total of six oriented core holes (TG2201 to TG2206) were completed and geotechnically logged
and o ver 65 core samples from that program were submitted for strength testing. This
information, combined with information from over 30 prior oriented core holes will allow the
completion of geotechnical slope study to define working pit slope angles in feasibility study.
• A 40-acre lot of private surface over existing federal mineral claims at Tonopah was acquired.
This lot has existing highway access, power and land-line phone service. It is currently being
used for storage and will be useful for lay-down yards and the possible siting of warehouse,
process, and office facilities.
Hole Azimuth Dip From To Length Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne Gram/Tonne
TG2222 335 -70 122
27 30 3.0 0.3 2.0 Tvl East Main Pit
62 66 3.0 0.4 1.4 Tvl North Side
TG2221 20 -60 183
155 157 1.5 3.0 1.7 Opa Step-out
163 165 1.5 0.5 1.7 Opa West of South
Pit
TG2219 -80 170 122
East Main Pit
73 91 18.3 4.1 6.5 Tvl/Opa South from
Opa TG2209 Collar
TG2218 -65 200 117
Center
30 32 1.5 9.2 8.6 Opa South Pit
South-west
TG2217 -90 0 122
47 52 4.6 0.5 2.1 Opa Center
76 94 18.2 5.0 4.4 Opa South Pit
including 79 84 4.6 14.7 8.4 Opa Vertical
TG2214 -60 335 152.0
41 49 7.6 0.4 1.5 Opa South Ext
111 116 4.6 21.4 13.1 Opa Central Main
Pit
TG2212 -80 180 152.0
43 64 21.3 0.5 2.3 Tvl North
including 49 56 7.6 1.3 2.7 Tvl Central Main
69 72 3.0 0.3 2.5 Tvl Pit
TG2220 -70 360 165
North Ext
NSS East Main Pit
Drill Results 2022 Reverse Circulation Drilling Program
Previously Announces 8 December
Hole Azimuth Dip From To Length Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne Gram/Tonne
TG2216 -60 360 140.0
Step-Out
NSS East of Main Pit
TG2215 -70 25 213.0
North Side
NSS West Main Pit
Test N-W Ext
TG2211 340 -65 152
40 98 57.9 5.0 13.1
including 40 50 10.7 0.8 7.2 Tvl
including 50 61 10.7 24.0 54.6 Tvl South Side
which includes 53 56 3.0 53.3 87.9 Tvl Center Main Pit
including 61 98 36.6 0.7 2.7 Opa
TG2210 335 -70 115
18 34 13.7 0.8 3.4 Tvl
38 46 7.6 0.8 11.8 Tvl North Side
61 78 16.8 0.8 3.2 Tvl Center Main Pit
TG 2209 25 -70 200
87 174 86.9 1.3 2.3 Tvl
including 105 108 3.0 13.5 6.7 Tvl South Side
including 126 128 1.5 9.2 1.9 Tvl East Main Pit
including 160 165 4.6 2.7 4.3 Tvl
TG2208 225 -60 200
200+ Meter
NSS Tvu Step-Out to
Tvl East of Main Pit
TG2207 0 -90 185
32 49 16.8 0.2 6.5 Tvl
81 87 6.1 0.3 1.1 Tvl East End
96 101 4.6 0.4 0.8 Tvl East Main Pit
TG2213 180 -65 152
61 66 4.6 0.3 2.7 Tvl North Step-out
West Main pit
Discovery Zone
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 2022 Reverse Circulation Drilling Program
Previously Announces 28 Nov
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. The Company has identified open extensions to mineralization and has
developed a track record of steadily increasing the 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
Anne Hite, Director Investor Relations
(303) 519-5149
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, fund ing 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 p resent; 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 file d 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 inf ormation 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 conve rted 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 a chieved 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.