Further Drill Results With Step Out Holes Confirming Extension Of Gold Mineralization At Tonopah Project

VANCOUVER - Viva Gold Corp. reported assay results for four additional reverse circulation (RC) drill holes from its previously announced 19-hole RC and core drilling program at the Tonopah Gold Project located near Tonopah, Nevada. Hole TG2004 was drilled as a ~50-meter step-out at the southeastern extent on the principal northwest-southeast trend of mineralization. This hole intercepted two-mineralized zones including 4.9 meters at 1.0 gram per tonne and 29.5 meters at 0.7 grams per tonne, which included 4.9 meters at 1.22 grams/tonne and 3.3 meters at 2.0 grams per tonne marking a possible extension of known mineralization and remains open along trend. Furthermore, TG2004 infills an area at the southeast end of the North Pit zone that had previously been carried primarily as waste in the resource model.

Hole TG2007 intercepted 10.7 meters at 0.9 grams per tonne and was drilled as a shallow step-out hole in the South Pit zone. This hole successfully confirmed and likely upgraded a large area of shallow gold mineralization that had been carried as inferred in the resource model.

Hole TG2006 was drilled at the eastern extent of the South Pit zone and confirmed the limit of mineralization to the east along that east-west trend.

James Hesketh, President & CEO, said, “We are very pleased by the results of this drill program. Hole TG2004 in the southeast and previously announced holes TG2001 and TG2002 in the northwest were drilled as step-outs at each end of the principal northwest-southeast oriented mineral trend on the project. These holes are likely to have extended the mineralized zone by as much as 50-meters in each direction and the trend remains open at both ends for additional extension. Our drill results in the south resource area are confirming and likely upgrading what was primarily a shallow inferred resource in that area. Overall, this program appears to confirm and supports our thesis of a potentially larger gold resource at the Tonopah project.”

A total of 11-RC drill holes has now been completed in this program and the RC rig has been demobilized. The originally announced drill program included 14-RC drill holes and 5-core holes. We anticipate mobilizing a core rig to the site later this month when the remaining three undrilled RC holes will be drilled utilizing HQ sized (65mm) core in order to capture additional geotechnical as well as assay data. The remaining five-core holes will be drilled utilizing PQ (85mm) core to capture samples for assay, metallurgical and environmental characterization testwork to use in feasibility study and permitting.

Assay results for seven-holes have now been announced and samples from the remaining four RC drill-holes have been submitted for assay, the results of which should be available in November 2020. Assay results have generally been backlogged due to the recent gold price and an uptick in drilling activity in the western US, as well as the impact of COVID-19 related slowdowns.