Viva Gold Commences Drilling at its Tonopah Gold Project in Nevada
Viva Gold transitions from theory to drill bit as Tonopah PFS work accelerates in Nevada’s Walker Lane.
The most recent news (February 25, 2026) announces the commencement of a 2,500-meter reverse circulation (RC) drill program at the 100%-owned Tonopah Gold Project in Nevada. This follows the February 18 announcement of the start of a comprehensive Technical Study (PFS/FS level). The drilling is specifically designed to convert "Inferred" gold mineralization into "Measured and Indicated" (M&I) categories, which is a regulatory requirement for declaring mineral reserves in the upcoming Pre-Feasibility Study (PFS). Additionally, the program includes exploratory/validation holes at the Midway Hills prospect to verify historical 1988 discovery data.
The impact is Routine - Positive. While the commencement of drilling is a necessary operational step, it is "routine" in the sense that it was previously signaled in the January 14 and February 11 releases as a requirement for the PFS. - De-risking: The focus on resource conversion is critical. Currently, the project has a high M&I component (87%), but the remaining Inferred ounces cannot be included in a formal reserve estimate. - PFS Integration: The news confirms that management is sticking to the timeline of the 8-9 month technical study announced last week. - Exploration Upside: Validating the 1988 Midway Hills holes provides a low-cost opportunity to potentially expand the resource footprint outside the main PEA pit area.
Viva Gold is focused on the Tonopah Gold Project, located on the Walker Lane Trend in Nevada. The project is characterized by near-surface, oxidized mineralization suitable for open-pit mining. - 2025 PEA Highlights: 404k oz Au payable over 7 years. - Economics: After-tax NPV5% of US$111.6M at US$2,400 gold. - Infrastructure: Excellent; located near a paved highway with access to grid power and water.