Viva Gold Completes Highly Successful 2026 RC Drill Program at Tonopah Gold Project in Nevada, Expanding Gold Mineralization and Delivering a New Discovery
Viva’s Midway Hills step-out intercept confirms and enhances the discovery while capital headroom remains razor-thin.
Viva Gold Corp. (VAU) has released the final results from its 2026 reverse circulation drill program at the Tonopah project in Nevada, comprising 19 holes for a total of 3,210 meters. The Midway Hills discovery, initially reported on July 2, 2026, has been extended and reinforced by hole TG2617, which intersected 35.1 meters at 1.62 grams per tonne gold and 16.7 grams per tonne silver. This interval includes a higher-grade segment of 1.5 meters at 18.4 grams per tonne gold, set within a broader 56.5-meter zone averaging 1.13 grams per tonne gold.
A three-hole fence consisting of TG2616, TG2617, and TG2618 over a 240-meter strike length demonstrates increasing gold grades and thicknesses to the west, with mineralization remaining open in all dimensions. In the main pit area, 16 holes were drilled, with 12 reporting significant intercepts. All returned anomalous gold grades greater than 0.15 grams per tonne, and a new continuous zone was developed on the southeast side. These results are currently being incorporated into the updated resource model for the pre-feasibility study, which is targeted for completion in the fourth quarter of 2026.
Viva Gold Corp. (VAU) announced final results for its Midway Hills discovery on July 2, 2026, following the initial release of hole TG2616. The announcement moved the stock from C$0.12 to the C$0.14–0.15 range. Today’s results confirm and improve that discovery with a stronger step-out in hole TG2617, demonstrating a thickening trend.
For a pre-resource junior explorer with a market capitalization of approximately C$25M and a going-concern warning, a new satellite zone that could add higher-grade ounces is materially positive. The intercepts are strong enough to be included in a resource update and could improve project economics by providing early-mill feed.
The market had already priced in optimism. The incremental information, consisting of better grades and continuity, de-risks the discovery but does not fundamentally re-rate the stock beyond what was already anticipated.
Against the Preliminary Economic Assessment (PEA), which shows a net present value (NPV) of C$112M at $2,400 gold with a capital expenditure (capex) of $220M, a few good holes will not bridge the capital gap. However, they demonstrate exploration upside that could attract a partner or improve financing optionality.
Viva Gold Corp. (VAU) is a pre-revenue junior explorer advancing its 100%-owned Tonopah Gold Project in Nevada’s Walker Lane trend. A 2025 Preliminary Economic Assessment (PEA) outlined an open-pit operation producing 404 koz Au and 354 koz Ag over seven years, with an after-tax NPV of C$111.6M at US$2,400/oz Au and capital expenditures of $219.9M.
The project’s mineral resource, defined at a 0.15 g/t Au cut-off in 2025, comprises 26.7 Mt @ 0.59 g/t Au for 504 koz Measured and Indicated resources, plus 6.9 Mt @ 0.37 g/t Au for 83 koz Inferred resources. The site benefits from established infrastructure, including power, water, and highway access, alongside advanced baseline environmental studies. A Preliminary Feasibility Study (PFS) commenced in February 2026 and is targeted for completion in Q4 2026.