Viva Gold Announces Results from Core Drilling Program at Tonopah Gold Project, Nevada
NR 22-9
Viva Gold Announces Results from Core Drilling Program at Tonopah Gold Project,
Nevada
VANCOUVER, BC – August 22, 2022 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF ) (the
“Company” or “ Viva”) is pleased to provide an update on its recently completed 6 -hole 1,307 meter-
oriented core drilling program at the Tonopah gold project (“Tonopah”), located on the prolific Walker
Lane gold trend near Tonopah, Nevada.
“This drilling program, designed to capture geotechnical information, was very successful in significantly
expanding the width of the mineralized zone in the center of the west ern lobe of the resource pit.
Additionally, the results demonstrate the potential to convert waste to gold mineralization in poorly drilled
areas of the resource pit. A significant amount of structural and geotechnical data was captured that will
be utilized in mine design and in locating drillholes for a 3,000-meter reverse circulation drilling program
that is slated to commence next month. Tonopah is a covered gold deposit, laying under valley floor gravels
with no outcrop exposure, meaning that all geologic and structural information must be captured f rom
either drill holes or by geophysical methods. The data captured in this program provides the information
required to complete the geotechnical study needed to initiate pre-feasibility study/feasibility study on the
project. It also provides critical insight into the structural controls to mineralization necessary to facilitate
future discovery at both the eastern and western extents of the project,” states James Hesketh, President
& CEO.
Drill holes TG2204 and TG2201 were drilled to test the north and south extents of mineralization in the
center of the western lobe of the resource pit. TG2204 intercepted a total of 17 meters of gold
mineralization averaging 0.8 grams/tonne (“g/t”) gold (“Au”) in the north side of the pit wall, while TG2201
intercepted over 15 meters averaging 0.55 g/t Au mineralization inside the south wall of the pit . These
combined results expanded the width of the gold zone to over 200 meters through the center of the west
pit, a result that strongly demonstrates the potential to infill poorly drilled portions of the pit that are
currently carried as waste in the model.
TG2202 and TG2203, drilled at the west end of the resource pit, intercepted possible north-south trending
fault structures, which may have resulted in a potential structural offset of the main mineral trend to the
north in this area. TG2203 intercepted 1.5 meters at 19.9 g/t Au and 19.2 g/ t silver (“Ag”) in a vein
structure in the center of the main trend inside the west end of the resource pit.
Holes TG2205 and TG2206 were drilled to penetrate the mineralized horizon s to the north and south of
hole TG2101 (22.9 meters at 1.5 g/t Au) at the east end of the resource pit. The results potentially describe
the north-south limits of a trough of easterly trending gold mineralization.
The oriented core holes in this program were designed to penetrate potential future open pit highwalls
to capture data for mine design efforts and to determine structural controls to gold mineralization in those
areas. The pit slope locations were defined by the $1,650 resource pit shell used for resource estimation
in the NI43 -101 Technical Report, Preliminary Economic Asse ssment of the Tonopah Project (amended
April 12, 2022, click here to view) 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 .
Four holes were drilled on the western end of the principal resource pit and two on the eastern end. Each
hole was oriented using teleview techniques and geotechnically logged and assessed for rock quality data.
Core samples were taken to perform a total of 67 rock mass and strength tests on the various rock types
intercepted in the program. Half core was utilized for assay, while the remaining half core will be utilized
for metallurgical testwork.
Hole Azimuth Dip From To Length Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne Gram/Tonne
TG2201 200 -60
131 137 6.1 0.6 4.4 Tv West Pit
152 162 9.1 0.5 25.4 Tv/Opa South Wall
TG2203 65 -75
West Pit End
207 209 1.5 19.9 19.2 Opa Main Tend
TG2204 20 -80
163 178 15.2 0.8 2.6 Tv West Pit
including 172 174 1.5 4.2 7.5 Tv North Wall
192 194 1.5 0.5 4.5 Tv
TG2206 20 -80
East Pit
114 119 4.6 0.4 0.9 Tv North Wall
TG2202 20 -80
West Pit End
206 219 13.0 NSS 1.9 Opa West Wall
N-S Faulting
TG2205 20 -80
East Pit
180 183 3.0 NSS 1.7 Tv South Wall
Tv = Tertiary Volcanic Cutoff Grade: 0.25 g/t
Opa = Ordovician Palmetto Argillite
NSS = No significant sample
Drill Results 2022 Geotechnical Core Drilling Program
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 south-east of the Kinross Round Mountain gold mine.
The project is well advanced with a positive Preliminary Economic Assessment (PEA) describing a potential
open pit, heap leach gold recovery operation and a pit confined measured and indicated gold mineral
resources containing 394,000 ounces at 0.78 grams/tonne and 206,000 ounces of Inferred resource at
0.87 grams/tonne. The principal min eral trends on the property remain open for extension and the
company has a track record of steadily increasing gold resource over the last four years. Viva is building
market awareness as it advances Tonopah towards feasibility study and permitting and ha s 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 strong 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
Forward-Looking Information:
This news release contains certain information that may constitute forward -looking information or
forward-looking statements under applicable Canadian secu rities 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 ab out 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 s tudies, 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 resou rce 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.