(TheNewswire)
VANCOUVER, BC – TheNewswire - February 15,2024 – Viva Gold Corp.( TSXV:VAU ) ; ( OTC:VAUCF ) (the“ Company ” or “ Viva ”) is pleased toannounce that it has commenced drilling at its Tonopah Gold Project(“Tonopah”). Tonopah is located on theprolific Walker Lane mineral trend in western Nevada, about 20minutes’ drive from the town of Tonopah.
The focus of this program will be to conduct both stepout and infill drilling to support mineral resource development byoffsetting the relatively shallow high grade gold zones discovered inour 2022/23 drill programs. Some of the prior drillhole interceptsthat require additional drill hole support for resource definitioninclude the following:
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TG2211 intercepted a zone of 57.9meters (“m’) commencing at 40m depthaveraging 5.0 grammes per tonnes gold (“gpt Au”), including 11m at 24.0 g/t Au
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TG2209 intercepted a zone of 86.9m at1.3 g/t Au starting at 87m depth, including 3.0m at 13.5 g/t Au, and 1.5mat 9.2 g/t Au
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TG2219 intercepted 18.3m at 4.1g/t Au starting at a depth of 73 m
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TG2217 intercepted a zone averaging 5.0 g/t Au over 18.2 m, including 4.6 m at14.7 g/t Au starting at 76 m depth.
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TG2310 intercepted four zones of gold mineralization startingat 72m with a cumulative total of 48m at 1.9 g/t Au, including 23m at 3.5gpt Au
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TG2309 intercepted 46m at 1.2gpt Au in three zones starting at 58m.
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TG2318 intercepted 55m at 1.0 gpt Au starting at 38m, including 14m at 1.6 gpt Au and 4.6m at 4.2 gptAu
These discoveries were typically related to splayfractures and lithology related controls. Other holes are designed totest undrilled gaps between known mineralized zones.
“We are excited to finally commence drilling atTonopah after a series of weather-related delays. We expect to seeinitial assay returns from our drilling in approximately 4-5weeks. These assays will be used in completing anew resource estimate for the project as a precursor to moving theproject into feasibility study ”, states James Hesketh, President &CEO.
Qualified Person
James Hesketh, MMSA-QP, has approved the scientific andtechnical disclosure contained in this press release. Mr. Hesketh isnot independent of the Company; he is an Officer and Director.
About Viva Gold
The Tonopah project sits in the middle of gold mining country andcontrols a major land position on the prolific Walker Lane Trend inWestern Nevada. Viva has consistently grown its resources since 2017and has commenced a new, fully funded drill program to further defineand grow the current resource base. The Company plans to update theresource model and initiate Pre-Feasibility Study in 2024, both ofwhich are major catalysts and value creation events for shareholders.
Viva Gold is led by CEO Jim Hesketh, a 40-year veteranin the mining space who has led the development and construction ofeight other mines around the world throughout his career. Jim hassurrounded himself with equally experienced mining professionals bothon the management team and the board.
The Tonopah Gold Project has all the hallmarks of asuccessful mining development project as key infrastructure is inplace and is supported by compelling economic studies.
Please reach out and get to know us as 2024 is shapingup to be a transformational year.
Viva Gold trades on the TSX Venture exchange “VAU”,on the OTCQB "VAUCF" and on the Frankfurt exchange"7PB". Viva currently has ~118.4 million shares outstandingand boasts a best-in-class management team and board with decades ofboth gold exploration and production experience. The Company isadvancing its high-grade Tonopah Gold Project in mining friendlyNevada with the support of several institutional shareholders. Moreinformation can be found on https://www.Sedar.Com.
Viva is committed to developing the Tonopah GoldProject in an environmentally and socially responsible fashion. Thesevalues are aligned with management’s core values and permeatethroughout our decision-making process.
For further information please contact:
James Hesketh, President &CEO
(720) 291-1775
Graham Farrell, Harbor Access
(416) 842-9003
graham.farrell@harbor-access.com
Forward-Looking Information:
This news release contains certaininformation that may constitute forward-looking information orforward-looking statements under applicable Canadian securitieslegislation (collectively, “forward-looking information”),including but not limited to drilling operations and estimates of goldmineral resource at the Tonopah Gold Project. This forward-lookinginformation entails various risks and uncertainties that are based oncurrent expectations, and actual results may differ materially fromthose contained in such information. These uncertainties and risksinclude, but are not limited to, the strength of the global economy,inflationary pressures, pandemics, and issues and delays related topermitting activities; the price of gold; operational, funding andliquidity risks; the potential for achieving targeted drill results,the degree to which mineral resource estimates are reflective ofactual mineral resources; the degree to which factors which would makea mineral deposit commercially viable are present; the risks and hazards associated with drillingand mining operations; and the ability of Viva to fund its capitalrequirements. Risks and uncertainties about the Company’s businessare more fully discussed in the Company’s disclosure materials filedwith the securities regulatory authorities in Canada available at www.sedar.com . Readers are urged to read thesematerials. Viva assumes no obligation to update any forward-lookinginformation or to update the reasons why actual results could differfrom such information unless required by law.
Cautionary Note toInvestors --- Investors are cautioned not to assume thatany "measured mineral resources", "indicated mineralresources", or "inferred mineral resources" that theCompany reports in this news release are or will be economically orlegally mineable. United States investors are cautioned that whilethe SEC now recognizes "measured mineral resources","indicated mineral resources" and "inferred mineralresources", investors should not assume that any part or all ofthe mineral deposits in these categories will ever be converted into ahigher category of mineral resources or into mineral reserves. Theseterms have a great amount of uncertainty as to their economic andlegal feasibility. Under Canadian regulations, estimates of inferredmineral resources may not form the basis of feasibility orpre-feasibility studies, except in limited circumstances. Further,"inferred mineral resources" have a great amount ofuncertainty as to their existence and as to their economic and legalfeasibility. It cannot be assumed that any part or all of aninferred mineral resource will ever be upgraded to a higher category.The mineral reserve and mineral resource data set out in this newsrelease are estimates, and no assurance can be given that theanticipated tonnages and grades will be achieved or that the indicatedlevel of recovery will be realized.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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