Viva Gold Commences 2023 RC Drill Program at Tonopah Gold Project, Nevada
NR 23-07
Viva Gold Commences 2023 RC Drill Program at Tonopah Gold Project, Nevada
VANCOUVER, BC – April 6, 2023 – Viva Gold Corp (TSX-Venture: VAU; OTCQB: VAUCF) (the “Company”
or “ Viva”) is pleased to announce that a reverse circulation (“ RC”) drill rig has been mobilized to the
Tonopah Gold Project (“Tonopah”), located near Tonopah, Nevada, to commence work on a 3,000 meter,
21- hole work plan approved by the US Bureau of Land Management. The drilling program is expected to
be completed over approximately a two-month period, with assay results to follow.
“The focus of this program is to follow up on the exceptional drill results from our 2022 RC drilling program
(shown below) and to perform both infill and step-out drilling in our current resource area with the goal
of increasing the contained gold mineral resource at Tonopah. The program is also expected to upgrade
existing inferred mineral resource to measured and indicated category and to partially convert undrilled
waste material in the resource pit area into gold mineralization,” stated James Hesketh, President & CEO.
Highlights from our 2022 drill program (see January 16, 2023 release) follow:
TG2219 intercepted 18.3 meters (“m”) grading 4.1 grams per tonne gold (“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 penetrated 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
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 holds 100% of Tonopah, located on the world class Walker Lane mineral trend in
western Nevada, approximately 30 minutes’ drive southeast of the Kinross Round Mountain mine and
20 minutes’ drive from the Town of Tonopah. Prior to its 2022 drilling programs, Tonopah reported a
pit confined measured and indicated gold mineral resource of 394,000 ounces at a gold grade of 0.78
g/t and 206,000 ounces of Inferred resource at 0.87 g/t(1). The Company is updating its resource model
by adding information from twenty-two drill holes completed in 2022 and is planning to prepare a
new NI43-101 compliant resource estimate once the current drill program’s results are received. The
gold resource at Tonopah is well oxidized and is amenable to both heap leach and leach mill processing
for gold recovery. The project enjoys exceptional infrastructure with paved road access and nearby
commercially available water and grid electric power. Viva is working with its regulators and local
community to significantly advanced its environmental, social and technical baseline study work at
Tonopah to support future environmental and project development permitting requirements. These
efforts demonstrate Viva’s focus and commitment to de-risk and add value to the Tonopah project as
it is advanced to feasibility study and permitting.
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
Viva has 106.7 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
Graham Farrell, Harbor Access
(416) 842-9003
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, 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 is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.