Viva Gold Announces High-Grade Drill Results at its Tonopah Project Including 1.5 Meters at 138 grams/ton Gold Company Commences Trading in the U.S. on the OTC Market
NR 18-8
Viva Gold Announces High-Grade Drill Results at its Tonopah Project
Including 1.5 Meters at 138 grams/ton Gold
Company Commences Trading in the U.S. on the OTC Market
VANCOUVER, BC – July 9, 2018 – Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the
“Company” or “Viva”) is pleased to announce initial assay results from the recently completed 11hole
Reverse Circulation (“RC”) drill program at its Tonopah Gold Project.
In addition to trading on the TSX -Venture: VAU, Viva Gold Corp., common shares are also now
traded under the symbol “VAUCF” on the OTC Link® ATS operated by OTC Link LLC, a subsidiary of
OTC Markets Group Inc. For more information, please see www.otcmarkets.com/stock/VAUCF .
Drill Result Highlights
TG1808 - 1.5 meters at 138 grams per tonne (“g/t”) and 1.5 meters at 8.9 g/t within a zone of 9.1 meters
containing an average uncapped grade of 25.4 g/t or a capped grade of 5.8 g/t using a 20 g/t ton grade cap.
A second zone of 4.6 meters at 5.5 g/t was intercepted that included, 1.5 meters at 14.9 g/t. TG1808
terminated in a 0.6 g/t intercept indicating potential for further depth extent. Average grade for all intercepts
over a length of 70.1 meters using a 0.25 g/t cutoff grade totaled 3.9 g/t uncapped or 1.4 g/t capped.
TG1807 – 9.1 meters @ 4.5 g/t within a zone grading 2.0 g/t over 39.6 meters. Hole was terminated in a
0.4 g/t intercept. Average grade for all intercepts over 83.8 meters of 1.0 g/t using a 0.25 g/t cutoff grade.
TG 1808 was drilled in the south end of the Dauntless zone and produced grades and intercepts that
significantly exceed modelled expectations for this location. The hole was extended 20 meters below target
depth with good results ending in strong mineralization further demonstrating potential for additional
mineralization at depth. TG 1807 was drilled at the intersection of the Discovery and Dauntless zones and
confirmed modelled results for this area. TG 1806 was designed to target the southern extension of the
Discovery fault. This hole did not achieve target depth due to drilling difficulties, but the hole was
completed in strong grade also indicating the potential for additional mineralization at depth. TG 1805 was
targeted to intercept the southern extension to the Discovery zone, but intercepted limited mineralization
above cutoff grade.
“These initial results provide solid confirmation of the high grade nature of the Tonopah project and further
validation for the database of historical information acquired with the project. This work confirms our
geologic model which encompasses high-grade vein systems associated with a series of extensional fault
zones overprinting a lower-grade zone of blanket type mineralization. The long runs of grade and numerous
zones of mineralization intercepted at relatively shallow depths also supports the open pit potential of this
project. The holes all terminated in grade, further demonstrating additional depth potential for the system.
We believe that our project goal of over 1.0 million contained ounces of gold resource for this project is
achievable”, states James Hesketh, President & CEO.
Tonopah Project
Initial 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 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
An additional seven drill holes have been completed in this drilling program. These holes were targeted to
demonstrate extensions to known structures or were targeted to infill between known zones of
mineralization. The Company expects assay results for these additional holes in early August. As
announced on April 26th, 2018 Viva Gold plans to drill 28 holes in total for the project, the latter half and
second phase of 17 holes should commence later this year.
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 high-grade cap of 20 g/t and 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.