Viva Gold Begins 2,000 Meter Core Drilling Program at the Tonopah Gold Project, Nevada
NR 22-8
Viva Gold Begins 2,000 Meter Core Drilling Program
at the Tonopah Gold Project, Nevada
VANCOUVER, BC – May 10, 2022 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF ) (the
“Company” or “Viva”) is pleased to announce that it has commenced core drilling operations at
its Tonopah Gold Project (“Tonopah”) located on the prolific Walker Lane gold trend in western
Nevada.
The program will include 1,500 to 2,000 meters of HQ (63 mm) size core drilled in 8 to 10 holes,
with drilling focused primarily in the western and eastern extents of the main deposit . The core
holes are designed to penetrate through th e pit wall of the $1,650 resource pit shell to capture
information and core sample to address the following:
1) Infill undrilled areas inside the resource pit shell to potentially add additional gold
mineralization and to target areas of inferred mineralization for upgrade to measured and
indicated categories;
2) Provide detailed structural and rock core information to allow completion of a
geotechnical study initiated by Viva in 2020 to support pit slope angle determination for
feasibility level mine design study; and
3) Provide additional core sample for metallurgical optimization and environmental
testwork.
“We are very excited to commence this work program. Viva was presented with the opportunity
to contract a core rig for immediate mobilization which has allowed us to rapidly start work at
Tonopah. We have authorization from the Bureau of Land Management for 12 new drillhole
locations and we will also re-occupy four previously approved locations. Tonopah already has a
well drilled core of measured and indicated gold resource and o ur goal is to add value for our
shareholders by increasing the gold resource, while simultaneously de-risking the project by
completing technical and environmental baseline studies. With that focus, we have commenced
a survey to document baseline biological conditions at Tonopah. Our ultimate goal is to rapidly
move Tonopah into feasibility study. These programs are a major step in that direction ,” states
James Hesketh, President & CEO.
A second reverse circulation (“RC”) drill has been contracted for work to commence in the late
summer period. The lower cost RC program will be targeted to further infill between existing
widely spaced holes on open extensions along the main ESE-WNW trend of the deposit.
Baseline Biologic Survey
Viva has commenced baseline biologic surveys at Tonopah in a measure to identify and document
baseline biological conditions, both animal and plant based. This is a critical and seasonally
sensitive step in further de-risking the project to create a solid underpinning for future feasibility
study and permitting efforts.
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 holds 100% of the Tonopah Gold Project, a large land position consisting of
approximately 10,500 acres located on the world class Walker Lane Trend in western Nevada, 30
minutes’ drive south-east of the Kinross Round Mountain mine and 20 minutes’ drive from the
Town of Tonopah. The project has a pit confined measured and indicated gold mineral resource
of 394,000 ounces at a gold grade of 0.78 grams/tonne and 206,000 ounces of Inferred resource
at 0.87 grams/tonne. Viva is advancing the project towards feasibility study and permitting.
Viva is committed to Environmental, Social and Responsible Governance (“ESG”) of its business
and strives to operate in a manner that supports environmental and social initiatives and
responsible corporate governance. Viva made significant progress in 2021 in working with its
regulators to advance the environmental and social baseline study efforts required t o support
future Mining Plan of Operations review under the National Environmental Policy Act for the
Project, and other Nevada State environmental permitting requirements. These efforts
demonstrate our focus and commitment to de -risk and add value to the Tonopah project as
detailed in our December 7, 2021 press release.
Viva Gold trades on the TSX Venture exchange “VAU”, on the OTCQB "VAUCF" and on the
Frankfurt exchange "7PB". Viva has 91.6 million shares outstanding and a strong management
team and board with both gold exploration and production experience. Viva is building market
awareness as the Company advances the high -grade Tonopah Gold Project. 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
Renmark Financial Communications Inc.
Steve Hosein
416-644-2020
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 drilli ng 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 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 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 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 achieved or that the indicated level of recovery will be
realized.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term i s defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.