Viva Gold Announces Further Drill Results with Step Out Holes Confirming Extension of Gold Mineralization at Its Tonopah Project, Nevada
NR 20-14
Viva Gold Announces Further Drill Results with Step Out Holes Confirming
Extension of Gold Mineralization at Its Tonopah Project, Nevada
VANCOUVER, BC – October 14, 2020 – Viva Gold Corp. (TSX-Venture: VAU; OTCQB: VAUCF) (the
“Company” or “Viva”) is pleased to announce assay results for four additional reverse circulation (“RC”)
drill holes from its previously announced 19-hole RC and core drilling program at the Tonopah Gold Project
located near Tonopah, Nevada.
Hole TG2004 was drilled as a ~50-meter step-out at the southeastern extent on the principal northwest-
southeast trend of mineralization. This hole intercepted two-mineralized zones including 4.9 meters at
1.0 gram per tonne and 29.5 meters at 0.7 grams per tonne, which included 4.9 meters at 1.22
grams/tonne and 3.3 meters at 2.0 grams per tonne marking a possible extension of known mineralization
and remains open along trend. Furthermore, TG2004 infills an area at the southeast end of the North Pit
zone that had previously been carried primarily as waste in the resource model.
Hole TG2007 intercepted 10.7 meters at 0.9 grams per tonne and was drilled as a shallow step-out hole
in the South Pit zone. This hole successfully confirmed and likely upgraded a large area of shallow gold
mineralization that had been carried as inferred in the resource model.
Hole TG2006 was drilled at the eastern extent of the South Pit zone and confirmed the limit of
mineralization to the east along that east-west trend.
“We are very pleased by the results of this drill program. Hole TG2004 in the southeast and previously
announced holes TG2001 and TG2002 in the northwest were drilled as step-outs at each end of the
principal northwest-southeast oriented mineral trend on the project. These holes are likely to have
extended the mineralized zone by as much as 50-meters in each direction and the trend remains open at
both ends for additional extension. Our drill results in the south resource area are confirming and likely
upgrading what was primarily a shallow inferred resource in that area. Overall, this program appears to
confirm and supports our thesis of a potentially larger gold resource at the Tonopah project”, stated Mr.
James Hesketh, President & CEO.
A total of 11-RC drill holes has now been completed in this program and the RC rig has been demobilized.
The originally announced drill program included 14-RC drill holes and 5-core holes. We anticipate
mobilizing a core rig to the site later this month when the remaining three undrilled RC holes will be drilled
utilizing HQ sized (65mm) core in order to capture additional geotechnical as well as assay data. The
remaining five-core holes will be drilled utilizing PQ (85mm) core to capture samples for assay,
metallurgical and environmental characterization testwork to use in feasibility study and permitting.
Assay results for seven-holes have now been announced and samples from the remaining four RC drill-
holes have been submitted for assay, the results of which should be available in November 2020. Assay
results have generally been backlogged due to the recent gold price and an uptick in drilling activity in the
western US, as well as the impact of COVID-19 related slowdowns.
Tonopah Project
Drill Results for 2020 RC Drill Program
Hole Azimuth Dip From To Length Gold Grade
Meter Meter Meter Gram/Tonne
TG 2004 170 -70 0 171
100 107 6.6 1.0
116 146 29.5 0.7
including 120 125 4.9 1.2
including 141 144 3.3 2.0
TG 2007 250 -80 0 61
40 50 10.7 0.9
including 40 43 3.0 2.2
TG 2005 90 -75 0 115 NSI
TG 2006 70 -80 0 180 NSI
First Announced September 9, 2020
TG 2001 225 -85 0 249
125 136 11.5 0.4
146 148 1.5 0.8
200 203 3.3 0.6
TG 2002 295 -80 0 262
143 146 3.3 0.3
197 198 1.6 0.8
202 203 1.6 0.3
213 216 3.3 2.4
233 241 8.2 2.7
including 233 235 1.6 7.1
including 235 236 1.6 4.0
TG 2003 115 -85 0 230 NSI
156 157 1.6 0.5
0.25 gram/tonne cutoff grade used throughout
NSI - no significant intercepts above cutoff grade
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 is a gold exploration and project development company with a focus on Nevada. Viva
holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 8,800 acres
with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific
Walker Lane gold trend in Nevada, about 30 kilometers south-east of the Round Mountain mine of Kinross
Gold and 20 kilometers north from the Town of Tonopah. Viva’s management team has extensive
experience in mining exploration, development and production and are supported by a Board of Directors
and advisors who are proven mine finders, deal makers and financiers. Viva trades on the TSX-V as “VAU”,
on the OTCQB in the US as “VAUCF” and on the Frankfurt exchang e under “7PB”. 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 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; 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 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.