Viva Gold stakes 36 claims at Tonopah

Executive Summary

• Viva Gold Corp. has expanded its land position at the Tonopah Gold Project in Nevada by staking 36 new unpatented mineral lode claims, covering approximately 720 acres northwest of the existing claim block.
• The company has commenced a field program to conduct an additional 14,000 metres of CSAMT geophysical survey to map subsurface resistivity and identify gold potential.
• Viva has received approval from the U.S. Bureau of Land Management for 23 new drill sites, with drilling expected to commence later this month to convert inferred resources to measured/indicated categories and test extensions at the Midway Hills prospect.

Key Details

• Land Acquisition: Staked 36 unpatented mineral lode claims.
• Land Area: Approximately 720 acres (291 hectares).
• Location: Immediately northwest of the existing claim block at the Tonopah Gold Project, near Tonopah, Nevada.
• Strategic Rationale: The new claims cover an area identified via third-party review as highly prospective for gold exploration.
• Geophysical Survey: Commenced work on an additional 14,000 metres of CSAMT (controlled-source audio-frequency magnetotelluric) survey.
• Survey Purpose: To map subsurface resistivity associated with potential silica emplacement during gold deposition; CSAMT is a major tool for identifying gold potential at Tonopah.
• Drilling Permits: Received approval from the U.S. Bureau of Land Management for 23 new drill sites.
• Drill Site Locations:
  • In and around the Preliminary Economic Assessment (PEA) design pit area.
  • At the Midway Hills prospect area, located approximately 1.4 kilometres northwest of the main pit area.
• Drilling Objectives:
  • Convert remaining high-grade inferred mineral resource in the PEA pit area to measured and indicated categories.
  • Prepare for feasibility study work.
  • Perform stepout drilling on known mineral extension potential around the pit area.
  • Test targets at the Midway Hills prospect area.
• Timeline: Drilling is expected to commence later this month.

Notable Quotes

• "With new claims staked, additional drill permits approved and fieldwork under way, we're accelerating the Tonopah gold project toward permitting and development. Nevada is one of the world's premier mining jurisdictions, and projects that advance through permitting often see meaningful market reratings. We believe Tonopah is well positioned to deliver that value for our shareholders." — Jim Hesketh, President and CEO