Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

Viva Gold Intersects a New High-Grade Gold Zone at Shallow Depths at its Tonopah Gold Project in Nevada

Viva Gold's Tonopah Project Progresses Toward PFS Despite Market Indifference

By The Northwire Desk — AI Analysis Apr 23, 2026 · 07:00 VAU · 0.14 Viva Gold Corp.
Executive Summary
  • Viva Gold Corp announced initial results from its 2026 reverse-circulation (RC) drill program at the Tonopah Gold Project in Nevada on April 23, 2026.
  • Drilling completed to date includes 15 holes totaling 2,407 meters.
  • Key intersections include TG2601: 22.9 m @ 1.3 g/t Au (including 4.6 m @ 4.6 g/t Au) and TG2608: 12.2 m @ 1.6 g/t Au from shallow depths (29m).
  • Results indicate potential for two new zones of higher-grade gold mineralization starting near the surface within the southeast portion of the 2025 PEA resource pit area.
  • The Pre-Feasibility Study (PFS) remains on track for completion in Q4 2026.
  • Metallurgical testing is underway to evaluate coarser crush sizes for heap leaching, potentially reducing capital and operating costs.
  • Environmental studies include updated golden eagle/raptor studies and hydrologic modelling work plans submitted to the U.S. Bureau of Land Management (BLM).
  • Geophysical surveying completed 14,000 m of CSAMT surveying identifying major faults associated with gold mineralization.
Material Impact
  • The news confirms execution of the drilling program announced in February 2026 and validates the PFS timeline.
  • Finding shallow high-grade zones is positive for early mine economics (starter pit), but this was anticipated given the focus on converting inferred resources to measured/indicated status.
  • The market reaction has been muted; stock price declined from $0.19 in late February to $0.14 by April 22, despite the positive drill results and PFS progress. This divergence suggests investors are not pricing in the incremental value yet or are concerned about future capital needs.
  • The news is consistent with previous expectations set during the December 2025 financing and February 2026 study initiation; it does not fundamentally alter the project valuation narrative established by the July 2025 PEA.
  • No new major investors (e.g., Sprott, Lundin) were disclosed in this release, limiting the "Game Changer" potential relative to insider confidence alone.
VAU · Price
Company Overview
  • Company: Viva Gold Corp (TSX-V: VAU).
  • Flagship Project: Tonopah Gold Project, Nevada (100% owned).
  • Project Status: Advanced exploration/development stage; PFS underway for Q4 2026 completion.
  • Location: Walker Lane Trend, ~30 minutes from Kinross Gold's Round Mountain mine.
  • Resource Estimate (July 2025): 504,000 oz Measured & Indicated gold + 1,762,000 oz silver; 83,000 oz Inferred gold.
  • PEA Highlights: 7-year mine life, NPV $111.6M (at $2,400/oz), IRR 17.6%.
Read the original news release →

More from Viva Gold Corp.

Nov 04, 2026 · 07:00

Viva’s Tonopah PFS is on track, Midway Hills metallurgy shows promise, and permitting advances.

Production / Operations Oct 06, 2026 · 07:01

Viva advances Tonopah PFS toward a Q4 completion while resuming core drilling at Midway Hills as permitting preparations continue.

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Viva Gold doubles financing to $6.5m to accelerate permitting for its tonopah project in nevada.

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Viva Gold raises $3m to fund Midway Hills drilling and Tonopah permitting amid ongoing cash constraints.

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Other Aug 17, 2026 · 07:00

Viva’s Tonopah Project Feasibility Study targets Q4 completion to advance Nevada permitting for the deposit.

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