Viva Gold drills three m of 46.1 g/t Au at Tonopah

Jan 29, 2019

2019-01-29 08:49 ET – News Release

Mr. James Hesketh reports

VIVA GOLD ANNOUNCES DRILL RESULTS AT TONOPAH PROJECT INCLUDING 45 METERS AT 2.2 G/T AND 3.0 METERS AT 46.1 G/T

Viva Gold Corp. has released assay results for the first four drill holes in its 2018 to 2019 winter reverse circulation drill program at its Tonopah gold project located near Tonopah, Nev.

Drill Result Highlights

TG 1816: 4.6 meters from 108.2 to 112.2 meters depth at 6.05 grams/tonne (“g/t”) including 1.5 meters at 16.4 g/t. TG 1816 was drilled between the Discovery and 121 structural zones in an undrilled gap between the zones.
TG 1817: 45.7 meters from 143.3 to 189 meters depth at 2.2 g/t including 13.7 meters at 5.1 g/t. TG1817 was drilled as a western extension of the 121 structural zone.
TG 1818: 12.2 meters from 21.3 to 33.5 meters depth at 0.9 g/t and 3.0 meters from 71.6 to 74.7 meters depth at 46.1 g/t, including 1.5 meters at 84.9 g/t. TG1818 was drilled to the east across the south extension of the Discovery fault, further extending the known strike of that structure.
TG 1819: 18.6 meters intercepted mineralization between 53.3 meters and 100.6 meters depth in three zones at an average grade of 0.8 g/t including 3 meters at 1.9 g/t. TG1819 was drilled at the north end of a gap between the Dauntless zone and the 63-77 zone.
Viva has now completed 8 drill-holes in its current RC drill program. Samples for the remaining four holes have been submitted for assaying.

“We are extremely pleased with the results of these initial four drill holes. The goal of this program is to infill known gaps in the existing drilling at the Tonopah project and to confirm extensions to known mineralized structures. These four holes have been successful in meeting this goal. We believe that the successes we are seeing in this overall program will significantly improve confidence in the resource and should add a substantial number of contained ounces to our estimated resource base, ultimately increasing the Tonopah gold resource to our goal of 1.0 million contained ounces,” states James Hesketh, President & CEO.

    TONOPAH DRILL RESULTS FOR 2018-2019 WINTER RC DRILL PROGRAM 
             
Hole               From (m)        To (m)    Length (m)    Gold (g/t)

TG1816                88.4          96.0           7.6           0.3
                     108.2         112.8           4.6           6.1
Including            108.2         109.7           1.5          16.4
TG1817               112.8         118.9           6.1           1.0
                     143.3         189.0          45.7           2.2
Including            163.1         176.8          13.7           5.1
Including           172.21        173.74           1.5          13.4
TG1818                21.3          33.5          12.2           0.9
                     71.63         74.68           3.0          46.1
Including            73.15         74.68           1.5          84.9
TG 1819               53.3          57.9           4.6           0.4
                      62.5          65.5           3.0           1.9
                      89.9         100.6          10.7           0.6
                                                                                     
* Capped at 20 grams/tonne 0.25 gram/tonne used throughout

The Tonopah property contains a near-surface low-sulfidation epithermal gold system which includes near vertical structurally controlled quartz-adularia-gold veins and breccia’s in Tertiary volcanics within a low-angle zone of mineralization which includes and often parallels an erosion surface discontinuity at the top of the Palmetto argillite. Mineralization has been identified in a series of north-striking extensional structural zones within an overall mineralized trend along the regional north-northwest Walker Lane trend, covering an area over 2,000 meters long and 300 meters wide. The interaction between high angle and low angle mineralization geometries is difficult to decode for individual drillholes. However, the holes drilled in this program were targeted to crosscut the low-angle mineralized zones while remaining as perpendicular as possible to high-angle extensional zones. Downhole lengths are believed to be representative of true thickness for the low-angle zones.

All technical information which is included in this statement has been reviewed and approved by Thomas C. Matthews of Gustavson Associates LLC. Mr. Matthews is independent of the Company and a qualified person, pursuant to the meaning of such terms in National Instrument 43-101 Standards of Disclosure for Mineral Projects. The basis for the 0.25 g/t cutoff grade utilized for this release are based on technical analysis documented in the March 27, 2018 NI43-101 Technical Report on Mineral Resources, Tonopah Project, Nye County, Nevada.

We seek Safe Harbor.

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