Viva Gold drills 5 g/t gold over 18.2 metres at Tonopah project, Nevada
Viva Gold Corp. [VAU-TSXV; VAUCF-OTCQB; 7PB-FSE] reported additional assay results from the recently completed reverse circulation (RC) drill program at its Tonopah gold project 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.
Highlights: Drillhole TG2219 intercepted 18.3 metres grading 4.1 g/t gold starting at a depth of 73 metres. 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 metres and the mineralized zone remains open in that direction.
TG2217 intercepted a zone averaging 5.0 g/t gold over 18.2 metres, including 4.6 metres at 14.7 g/t gold starting at 76 metres 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 metres at 9.2 g/t gold at 30 metres 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 metres south of the center of the main resource pit in a previously undrilled area. This hole hit a structurally controlled zone of 4.6 metres averaging 21.4 g/t gold at a depth of 111 metres 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 metres at 0.5 g/t gold, including 7.6 metres at 1.3 g/t gold. 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 the 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 and CEO.
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.
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.
Viva Gold’s principal asset is its 100% ownership in the Tonopah Gold Project, 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 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 g/t gold and 206,000 ounces of Inferred resource at 0.87 g/t.
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 has 91.6 million shares outstanding.