Viva Gold Continues to Intersect Significant Shallow Gold Values, 18.3 Meters at 4.1 g/t and 18.2 Meters at 5.0 g/t Au, at Tonopah Gold Project, Nevada
NR 22-15
Viva Gold Continues to Intersect Significant Shallow Gold Values, 18.3 Meters at
4.1 g/t and 18.2 Meters at 5.0 g/t Au, at Tonopah Gold Project, Nevada
VANCOUVER, BC – December 8, 2022 – Viva Gold Corp. ( TSX-Venture: VAU; OTCQB: VAUCF ) (the
“Company” or “Viva”) is pleased to provide additional assay results from the recently completed Reverse
Circulation (“RC”) drill program at its Tonopah gold project (“Tonopah”) located on the prolific Walker
Lane mineral trend, western Nevada. A total of 16 drillholes have been completed in this program and
submitted for assay. This release details results from eight drill holes in addition to results from six holes
previously released on November 28, 2022 (click here to see previous news release).
Highlights
• Drillhole TG2219 intercepted 18.3 meters (“m”) grading 4.1 grams per tonne gold (“g/t Au”)
starting at a depth of 73 m. TG2219 was drilled from the same collar location as TG2209 (86.9 m
at 1.3 g/t Au). TG2219 was drilled to the south into a previously undrilled area. These two holes
have extended mineralization to the south by approximately 100 m and the mineralized zone
remains open in that direction.
• TG2217 intercepted a zone averag ing 5.0 g/t Au over 18.2 m, including 4.6 m at 14.7 g/t Au
starting at 76 m depth. This hole was drilled in the center of the south pits modeled as inferred
material. TG2217 extended mineralization to depth.
• TG2218, which intercepted 1.5 m at 9.2 g/t Au at 30 m depth and was drilled from the same collar
as TG2217 . These two holes are likely to upgrade this zone to an indicated level, while also
increasing grade.
• TG2214 was drilled as a step -out hole approximately 90 m south of the center of the main
resource pit in a previously undrilled area. This hole hit a structurally controlled zone of 4.6 m
averaging 21.4 g/t Au at a depth of 111 m and intercepted shallow zones of lower -grade
mineralization. This hole is likely to add inferred mineralization to the model. Additional follow -
up drilling is needed in this area.
• TG2212 was drilled from the north side of the main resource pit and intercepted 21.3 m at 0.5 g/t
Au, including 7.6m at 1.3 g/t Au. This hole is likely to extend resource blocks to the north.
“This has been our most successful drill program in the last four years. These drill results, in conjunction
with those previously reported , are clearly demonstrating the near-surface, high-grade nature of this
deposit, as well as the potential to increase the contained gold resource to both the north and south along
the main east -west trend of th e deposit. These strong assay results, combined with the very positive
conclusions from our metallurgical testwork program, announced October 2022, supports both the need
for additional drilling and for moving this project rapidly through an updated PEA study and into feasibility
work.” stated James Hesketh, President & CEO.
Additional Drilling Notes
• TG2216 was drilled as a step-out to the east of the main resource pit to test the potential eastern
extent of the main mineral trend. Results from both TG2216 and TG2208 indicate increased
structural complexity in this direction. A dditional work will be required to determine if
mineralization has been offset or locally terminated in this area. One historic drill hole with gold
intercepts exists further to the east on trend from these drillholes.
• TG2220 tested a previously undrilled area on the north side of the main resource pit at the eastern
end without any exceptional intercepts.
• TG2215 was drilled from the north side at the western end of the main resource pit into an area
of known structural complexity without any exceptional intercepts.
Hole Azimuth Dip From To Length Gold Grade Silver Grade Rock Type Comment
Meter Meter Meter Gram/Tonne Gram/Tonne
TG2219 -80 170 122
East Pit
73 91 18.3 4.1 6.5 Tvl/Opa South from
Opa TG2209 Collar
TG2218 -65 200 117
Center
30 32 1.5 9.2 8.6 Opa South Pit
South-west
TG2217 -90 0 122
47 52 4.6 0.5 2.1 Opa Center
76 94 18.2 5.0 4.4 Opa South Pit
including 79 84 4.6 14.7 8.4 Opa Vertical
TG2214 -60 335 152.0
41 49 7.6 0.4 1.5 Opa South Ext
111 116 4.6 21.4 13.1 Opa Central Main
Pit
TG2212 -80 180 152.0
43 64 21.3 0.5 2.3 Tvl North
including 49 56 7.6 1.3 2.7 Tvl Central Main
69 72 3.0 0.3 2.5 Tvl Pit
TG2220 -70 360 165
North Ext
NSS East Pit
TG2216 -60 360 140.0
Step-Out
NSS East of Main Pit
TG2215 -70 25 213.0
North Side
NSS West Pit
Test N-W Ext
TG2211 340 -65 152
40 98 57.9 5.0 13.1
including 40 50 10.7 0.8 7.2 Tvl
including 50 61 10.7 24.0 54.6 Tvl South Side
which includes 53 56 3.0 53.3 87.9 Tvl Center PEA Pit
including 61 98 36.6 0.7 2.7 Opa
TG2210 335 -70 115
18 34 13.7 0.8 3.4 Tvl
38 46 7.6 0.8 11.8 Tvl North Side
61 78 16.8 0.8 3.2 Tvl Center PEA Pit
TG 2209 25 -70 200
87 174 86.9 1.3 2.3 Tvl
including 105 108 3.0 13.5 6.7 Tvl South Side
including 126 128 1.5 9.2 1.9 Tvl East PEA Pit
including 160 165 4.6 2.7 4.3 Tvl
TG2208 225 -60 200
200+ Meter
NSS Tvu Step-Out to
Tvl East of PEA Pit
TG2207 0 -90 185
32 49 16.8 0.2 6.5 Tvl
81 87 6.1 0.3 1.1 Tvl East End
96 101 4.6 0.4 0.8 Tvl East PEA Pit
TG2213 180 -65 152
61 66 4.6 0.3 2.7 North Step-out
West PEA pit
Discovery Zone
Tvu = Upper Tertiary Volcanic Cutoff Grade: 0.25 Au Eq g/t
Tvl = Lower Tertiary Volcanic
Opa = Ordovician Palmetto Argillite
NSS = No significant sample
Drill Results 2022 Reverse Circulation Drilling Program
Previously Announces 28 Nov 2022
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’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 southeast of the Kinross Round Mountain gol d 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 0.7 8 grams/tonne and 206,000 ounces of Inferred resource at
0.87 grams/tonne. The PEA, amended April 22, 2022, can be viewed here. The principal mineral 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 has 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 solid 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 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 informati on 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 resource s" 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.